The Football League is still in discussions with both current Leeds United owners GFH Capital and prospective owner Massimo Cellino, a statement released this afternoon said.
It was confirmed earlier this month that GFH had agreed to sell 75% of the club to Eleonara Sport, owned by Italian Cellino.
The transaction has to be ratified by the Football League and its statement today suggested that it could be some way off making a decision on whether 57-year-old Cellino is appropriate to run the club.
"The Football League remains in discussions with both the owners and proposed purchasers of Leeds United, regarding the planned change of ownership," read the statement.
"To date, a significant amount of the requested information has been supplied by GFH and Eleonora Sport, but there are still a number of outstanding matters that will require further submissions from the two parties. There is also the realistic prospect of there being further questions arising out of these submissions that they will be required to answer.
"The board of the Football League is next scheduled to meet on March 13 where it will receive an update on the matter from the League's executive, unless all the remaining issues can be resolved satisfactorily in advance of this date."
Cellino has previous convictions from his time in Italy, where he owns Serie A club Cagliari Calcio.
However, he feels that both a 2001 suspended sentence for false accounting and a 1996 fine for fraud, that was overturned on appeal, should be disregarded.
Cellino, who was at the Riverside Stadium with his son on Saturday for Leeds's 0-0 draw against Middlesbrough, is said to be confident that his purchase will be authorised as he is thought to be lending the club money to pay off the players' wages, which are due on Thursday.
