Balde is trying to come to a financial agreement with Celtic before securing his release.
"I can't wait on big Bobo Balde forever," said McLeish.
"I know he's trying to tie things up with Celtic, but if he doesn't I'll move on to someone else and I'm already looking at three or four players now.
"I don't know who the hold up is with - it's maybe between the two of them that they have got to sort things out.
"And then and only then can he decide where he wants to go.
"It's definitely not cast in stone that he's coming here."