Bates is deciding whether to accept the offer of arbitration (Getty)

The Football League made the offer to Leeds on Tuesday, the same day as their deadline to respond to United's High Court writ.

United chairman Ken Bates told BBC Radio Leeds: "We now need to consult with our QC.

"We want this in open tribunal. We want the public and press to be able to hear the evidence from both sides."

Leeds were docked points for breaching the Football League's rules on insolvency.

The club served a writ against the League in response and hope to have a decision before the end of the season on 3 May.

The only outstanding issue is openness. We want this thing to be heard in public and there's no valid reason why it shouldn't be Leeds chairman Ken Bates

Should the matter go to arbitration, it would be heard by a three-man panel consisting of a neutral Court of Appeal judge and a representative each from United and the League.

Bates said: "The suggestion of a judge of the Appeal Court is encouraging.

"To quote their (the Football League's) lawyers, 'impartiality and independence will be guaranteed and the competence of the tribunal will be par excellence.' That's all we've ever asked for."

Bates also confirmed that if the club went to arbitration, then it would accept the final decision.

"We've always said that - there's no problem with it," he added.

"In fact they ought to change the League rules and adopt the ones of the Premier League so it (arbitration) automatically happens. Then this nonsense that's been running for the last six months would never have happened.

"The only outstanding issue is openness. We want this thing to be heard in public and there's no valid reason why it shouldn't be.

606: DEBATE I believe LUFC's refusal to take the 15 point penalty is doing football in general a massive favour by pursuing this matter oldlufc

"I'm surprised it's taken so long. This is what we've been trying to get resolved since September.

"For the last six months it's been batted backwards and forwards between the Football League and the FA, both of whom said we didn't have a case to answer.

"Finally, when we've issued the writ against the Football League, their lawyers have now come up - at the last minute I may add - with an offer of arbitration."