Leeds United are understood to be still some way off their target of selling 15,000 season tickets by Sunday.
Owner Massimo Cellino has committed to refunding 25 per cent of the money paid by many holders if the play-offs prove out of reach.
The club announced in April that they planned to hand back 25 per cent of the cost of any season ticket bought before the end of May if they finish outside the top six in 2017 - and would raise that refund to 50 per cent should sales pass the 15,000 mark by the end of July.
The club is understood to be narrowly short of that target, and new chief executive Ben Mansford said: “I wouldn’t want to give a figure away but the liability is substantial.
“When the period up to July 31 finishes we’ll work it out exactly but it’s something the owner wanted to pledge. It’s bold, it’s brave and I think it shows his desire to succeed and his passion for winning.
“He wants to put money where his mouth is. We can compete this season and if we don’t, he’s going to have to write a sizeable cheque.”
Mansford, who came to Elland Road from a similar role at Barnsley, says Leeds’ finances are in better health and that Cellino’s ownership is not endangering its financial position compared to that under its previous owner, GFH.
He said: “You can see now that we’ve got our wages to a sensible percentage of turnover. That sees the club in a really stable and sustainable position to challenge. Only this week, there’s a takeover at Wolves and talk yesterday of them allegedly making bids of £20m (for Benfica’s Anderson Talisca). How is that sustainable or stable? And what if these owners pull funding? We’ve seen it up the road at Bolton. An owner said ‘enough is enough’.
“The finance out there can create a big challenges but in terms of where Leeds sit financially, I’ve charted the club over the years and charted football in the Championship and I do believe the club’s in as good a place financially as it’s been for a long time.”