Leeds United are currently up for sale, but Massimo Cellino has pulled out of a deal to sell the club to the fans.
Cellino had announced his intention to allow a fan takeover at Leeds, but he quickly withdrew that offer earlier this week.
The sudden U-turn has created great frustration at Elland Road, and Melchiot, who represented the likes of Chelsea and Wigan Athletic during his playing days, believes that Leeds fans deserve better.
Cellino is still keen to sell Leeds, according to a report in the Daily Mirror, but there has been no indication as to who the new owners will be.
The Whites have suffered a turbulent time of late, and supporters of the club will be desperate for their new chairman to bring stability to the team.
Leeds are in dire need of having a person in charge that can bring success back to Elland Road, as they have endured a difficult time of late.
At the moment, Leeds are sat in 17th place in the Championship table – but they did end their long wait for a home win in midweek by beating Cardiff City.