Cellino, who currently owns hometown club Cagliari, has been hotly tipped by the Italian press to buy a controlling share in Leeds.
If that happens, the fiery entrepreneur may push for the signature of Brazilian international Cesar, who is currently third choice at QPR.
Cesar has already responded positively to suggestions that he could join Cellino's other club Cagliari and may be persuaded to move to Elland Road.
The paper believes that the 34-year-old is missing Italy, where he spent seven successful years at Inter, winning five Serie A titles and the Champions League between 2005 and 2012.
Cesar's primary goal is to return to playing regularly after his costly period of inactivity in West London as he still has a chance of being picked for Brazil's World Cup squad.
Leeds may miss out if Cellino's takeover isn't completed quickly as Sampdoria could step in with immediate effect.
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