Leeds looked at securing outside investment a year ago.
Pearson was looking at bringing aboard investors who would be willing to put their money behind Massimo Cellino's ownership of the club and support their short and long term plans.
Both The BBC and The Independent report the ex-Hull City chief 'held talks' with businessman and Leeds fan Ismail Ghandour, claiming, "he met Pearson to discuss using his Middle East contacts to find investment for the club."
Massimo Cellino bought a majority stake in Leeds in 2014, and has tried to get the club back on a stable financial footing.
In doing so he sold off top asset Ross McCormack for £11 million, but the most he has spent on an individual player has been Chris Wood at £3 million.
The Whites also do not own their stadium Elland Road, leasing it, and appear no closer to changing that.
Leeds were unfortunate that previous owners GFH Capital, based in Bahrain, did not have the money - or at least use the finances they had to take the club to new heights. They remain a minority stakeholder in the club.
Pearson was evidently unsuccessful in his talks regarding outside investment, but it is still interesting that this was something Cellino's regime was open to.
He was appointed last May, and resigned in September to focus on his other role as owner of Hull FC Rugby Club.
The reports emerged with Ghandour required to give testimony in regard to an ongoing employment tribunal from ex-employee Lucy Ward against Leeds United and owner Massimo Cellino.