Daniel James is being monitored by Serie A side Atalanta.
Reports in Italy state the Wales winger is in the club's "notebook" and that James' agent has already been approached over a possible move.
James moved to Elland Road from Manchester United last summer in a deal worth £25million. The Whites have endured a torrid second season back in the Premier League, sacking coach Marcelo Bielsa earlier this year and bringing in Jesse Marsch in an attempt to stave off relegation.
READ MORE: Gareth Bale nowhere to be seen at Real Madrid's final home game as absence explained
It will all come down to Sunday's fixtures, with Leeds away at Brentford and Burnley at home to Newcastle United to decide who out of the Whites and Clarets join Norwich City and Watford back in the Championship next term.
The next 24 hours are crucial therefore for Atalanta, with the report stating relegation could "favour" the club in "a possible negotiation", with James' price tag likely to fall should Leeds drop out of the Premier League.
Atalanta chief and Welshman Lee Congerton is said to have James on his list of profiles who are being tracked. The winger was this week named in Rob Page's squad for their upcoming World Cup play-off final match against either Scotland or Ukraine in Cardiff on June 5.
For the latest transfer news sent straight to your inbox, click here to sign up for our newsletter.
James is suspended for Leeds' final game of the season, having been sent off against Chelsea for a studs-up challenge on Mateo Kovacic.
Leeds will be braced for a mass exodus should they fall out of the top flight. Raphinha and Kalvin Phillips are the two headline acts who many would expect to depart but others could follow them out of the exit door, including James.
