Leeds have since sold the option to build on land behind the Revie Stand to a casino developer for £5m and the stadium to Manchester businessman Jacob Adler for around £9m.
Ken Bates revealed shortly after taking over United as chairman that he wanted to protect the long-term future of Elland Road by putting the pitch itself in the hands of supporters.
Trust deputy chairman Paul Fallon said: "We are interested in helping Ken Bates realise his aim of fans owning Elland Road and, at this stage, are looking at whether it can realistically be done.
"It is very, very early but if and when the chairman comes up with the proposals we want to be able to contribute meaningfully. The best way to do that is to start discussing the matter now and start planning ahead. Hopefully the Trust can be a suitable vehicle for buying back Elland Road."