The club's current owners GFH confirmed last Friday that they had exchanged contracts with the Italian.
Cellino has agreed a deal to buy 75% of the Elland Road club, subject to approval from the Football League.
The Cagliari owner is expected to be in the stands as Leeds, who have won their last two matches, take on Brighton at the Amex Stadium on Tuesday.
The 57-year-old originally reached a deal with GFH on 31 January. The meeting with the League is no surprise given that he has been convicted of fraud offences in his own country and there are those asking the question if he can pass the League's fit and proper person tests.
Leeds are currently 10th in the Championship, five points outside the play-off places.