Manchester City are expected to complete their pursuit of Phillips when he returns from his holiday and the YEP understands Whites director of football Victor Orta is talking to a trio he believes could come in this summer.
American international Adams is high up on Orta's list and has worked with Leeds head coach Jesse Marsch twice previously, at New York Red Bulls and RB Leipzig.
Adams, 23, moved to the Bundesliga to reunite with Marsch in January 2019 and has racked up 102 appearances for Leipzig, 14 of which have come in the Champions League.
The 19-cap midfielder, previously linked to Arsenal, has shown versatility with stints at right-back and on the right side of midfield, but the deep-lying position that Phillips made his own at Elland Road is where Adams has played the vast majority of his football.
His fellow Red Bull player, Mohamed Camara, is another player Orta admires and while a move for the Salzburg man cannot be ruled out, he is thought to be at the pricier end of the options available to the Whites in the market.
Leeds are bracing themselves for more serious offers for Raphinha over the next week, having refused to even consider Arsenal's opening bid for the Brazilian, and Orta is tracking a pair of replacements for the potential wing vacancy.
He is also working on a centre forward, with two targets topping his list. Leeds remain very interested in Brugge star Charles De Ketelaere, who is also on AC Milan's radar.
The Whites are yet to make an offer for the 21-year-old, who can play as a 10 and would complement Patrick Bamford in a front pairing, should Marsch decide to go with his 4-2-2-2 system, but Orta is intent on presenting what he believes to be a big opportunity for the Belgian.
Leeds could not expect to match the Serie A champions financially and Champions League football could be key to the Belgian's next move but what might stand in their favour is the significant game time that has helped propel the careers of Illan Meslier and Raphinha since their arrivals from Europe in the Premier League. The same level of involvement might not be guaranteed if he moves to Milan or one of his other Champions League suitors.
Like many clubs Leeds are focusing most of their energy on the permanent business before turning their attention to the loan market but there could soon be some movement in the next week or so, for Elland Road players seeking match minutes elsewhere. Orta and Marsch are faced with some big decisions this summer over the likes of Charlie Cresswell, who found himself involved in the Premier League last season due to the injury crisis but could struggle for experience in the 2022/23 campaign if the more senior players in front of him remain fit. Jamie Shackleton is another who could seek opportunities elsewhere and a permanent move away cannot be ruled out.
A first batch of Leeds players will report for pre-season testing tomorrow at Leeds Beckett, with those involved in summer internationals set for a return next Monday.