Strachan has announced he will quit his £500k-a-year deal as Southampton boss at the end of this season. Ex-Leeds player Micky Adams has emerged as an early contender to take over at St Mary's.
Strachan is leaving for personal reasons and wants a 12-month break from football management but, according to The Sun, Leeds look certain to make their former captain an offer he cannot refuse to revive their fortunes.
Former Elland Road plc vice-chairman Allan Leighton has put together a four-man consortium that is set to make a formal offer but he first wants to see whether Leeds get relegated this season.
The price could be as high as £80m if they stay up. But the club will be worth less than half that amount if they tumble into the Nationwide League.
Leighton wants Strachan as his choice to succeed Peter Reid, who was fired as Elland Road boss last November, and lead the club into a new era.
Leighton will now have the finance to get his man at the end of the season thanks to the mega-wealth of stores boss Philip Green who is on the consortium.
United’s creditors will give Leeds a stay of execution beyond their January 19th deadline because a takeover is in the pipeline.
And this will give Leighton time to persuade Strachan to come aboard.