Jones has not played since late November when he was stretchered off against Stevenage.
The Independent's report states: "Coventry would likely have got £1.5m from Leeds United for Jodi Jones this year but the deal collapsed due to a knee injury."
Jones had scored five goals and provided eight assists prior to his ill-timed injury. BBC Sport reported Jones is out for the rest of the season.
The winger is just 20-years-old, but his chance to join Leeds is likely off the agenda for another year.
The Whites are unlikely to want to buy him in the summer without seeing how he has recovered from his knee problem.
The reports suggest that Leeds are paying attention to the lower leagues, as well as their international scouting network.
In January so far Leeds have signed Yosuke Ideguchi but loaned him out due to work permit reasons, and bought Aapo Halme for their under-23 squad.