Leeds United were issued with a winding-up order just 17 days after Massimo Cellino completed his takeover of the club, The Mirror reports.
Former managing director David Haigh claims a company he is linked to, Sports Capital, is owed £1 million by the Elland Road club. Legal papers were given to the High Court on April 25 after Leeds failed to respond.
Haigh himself claims he is owed £600,000 by Leeds and The Mirror reports the club are losing £1 million a month.
The newspaper also says that Andrew Flowers, managing director of the club’s shirt sponsors, is owed in the region of £100,000 and former chief executive Paul Hunt is still waiting for the £70,000 he is allegedly owed.
Cellino paid Gulf House Finance £6 million for the completion of his takeover but is still to pay a further £3 million instalment due on the deal.
The Italian, who also owns Seria A club Cagliari, agreed to buy a 75 per cent stake in Leeds in February only for the Football League to reject the move but Cellino was able to force through the takeover following a ruling by an independent QC.