Livi out of administration

Last updated : 13 May 2005 By Dov

Livingston have formally come out of administration to hand full ownership to Pearse Flynn's Lionheart consortium.

The move ends 15 months of uncertainty surrounding the Lions, whose financial future has received a further boost with romours of an extension of their sponsorship deal with local company Intelligent Finance.

Negotiations to extend the contracts of first-team players will begin this morning and, among others, offers will be made to Burton O'Brien and David McNamee, both of whom are being sought by clubs in Scotland and England with McNamee being watched by a Dutch club also.

Vivien Kyles, Livingston's chief executive, met with Fraser Gray of Kroll, the administrators, representatives from West Lothian Council and Halifax Bank of Scotland to sign the paperwork for the exit agreement.

It's beleived that Krolls bill will be over £500.000 for running the club for 15 months.


The documentation was then taken to the Court of Session in Edinburgh to be "time-stamped" and complete the process.


By coming out of administration before May 31, Livingston have ensured they will avoid a 10-point penalty from the SPL.

Richard Gough's side will ensure their top-flight status if they win against Killie tomorrow.