Livingston fans urge Massone – get out for sake of club's survival

A DEADLINE of noon tomorrow has been set to save Livingston Football Club after their interim manager threatened to put the club into liquidation unless chairman Angelo Massone accepts a token fee of £25,000 for control of his shares – an offer which the Italian has rejected.

Donald McGruther, of accountancy firm Mazars, dramatically raised the stakes yesterday when describing the club as "hopelessly insolvent". He is due to meet with the Scottish Football League on Thursday. The worst case scenario will see McGruther inform league officials of the club's liquidation and inability to fulfil this season's competitive fixtures, which are due to continue on Saturday in the Co-Operative Insurance Cup against Albion Rovers. The Livingston players played without payment in the Challenge Cup on Saturday, and went down 1-0 to Queen of the South.

The prospect of the West Lothian club being liquidated is a very real one given Massone's vow yesterday to reject an offer of £25,000 for his shares. "I have consulted my lawyer, who has advised me not to accept the offer," said Massone.

A plea was issued via Livingston's official website last night, urging the Italian to accept this final attempt to save the club. "For the sake of our club, please accept the £25,000 offer and leave, Mr Massone," the website said.

Supporters Trust members emerged from a meeting with McGruther last night, pleading with the Italian to go.

"There is no future for him, he has to realise that," said Trust spokesman Ged Nixon. "I can only assume that this is a case of brinkmanship. This is all down now to one man. £25,000 is the difference between the club having any chance of survival."

McGruther confirmed last night that the figure is not open for negotiation. "I don't have time," he said. "This has all got to happen this week."

McGruther is due to meet with interested investor Neil Rankine today. The former Dumbarton owner will fly in from the south of France to renew his bid to take control of the club, although he will only act in conjunction with other willing partners from the local area. But time is now of the essence.

Rankine or former Cowdenbeath chairman Gordon McDougall, another who has been in talks with Massone regarding the sale of Livingston, have until tomorrow lunch-time to come up with something concrete. If not, Livingston will cease to exist as a football club after 14 years of league membership.

McGruther painted a stark picture yesterday as he provided an up-date on a situation which had grown markedly worse on Friday, when West Lothian Council asked the court of sessions in Edinburgh to intervene following the repeated failure of Livingston to pay a £330,000 debt. The club was placed into interim administration.

"Livingston Football Club Ltd is hopelessly insolvent, without any discernible cash flow, and in need of an immediate cash injection," a statement from McGruther said yesterday. "There is no possibility of the club continuing to trade under the interim manager or any subsequent administration process. Any shareholding in the club is thus of no value.

"Despite the foregoing, on behalf of the creditors I have offered to buy the shares which represent the controlling interest in Livingston FC from Angelo Massone for £25,000, subject to certain conditions. Deadline for transfer of these shares is noon Wednesday 29 July 2009."

The sum, McGruther felt, is one which creditors could tolerate being paid to Massone, who has angered many with his manner during the club's long drawn-out financial struggles. "It is a compromise figure to satisfy the creditors," said McGruther.

After learning that Massone had rejected the £25,000 offer for shares he paid Pearse Flynn just £1 for a year ago, McGruther said it would not be revised. "There are parties interested in acquiring the club, but it is obvious that the main barrier to a successful sale is the control Mr Massone exercises over the company shareholding. The limited company represented by these shares is the only entity recognised by the SFL. Without a transfer of the shares no interested party can contemplate investing in the football club."

McGruther admits time is against Livingston's survival. He will, though, meet with Rankine today and hear what the businessman has to say. Without Massone's agreement to sell at the price set, these discussions will prove redundant. Rankine claims he has already offered Massone £100,000 for his shareholding. This, said Rankine, would have allowed the Italian to walk away with his head held high. "Now they are running him out of the country," he said from France yesterday, although he felt the situation was salvageable.

Even if Massone accepts a £25,000 fee for his shares, it will not necessarily prevent sanctions being placed on the club by the SFL. The deadline of noon tomorrow has been set in order give the SFL time to deal with the problem of a second First Division club going bust in successive summers. Before the plug was finally pulled on Gretna, the SFL had already voted to relegate the club to the Third Division after a consortium failed to convince the management committee that their proposed bid for Gretna was credible enough to sustain them in the First Division in the up-coming campaign.

If Livingston are removed from the First Division, there could be a reprieve for relegated Airdrie United, and Cowdenbeath could be promoted to the Second Division – with no time left to find a new member club.