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“Since being declared as the preferred bidder for Livingston Football Club on April 27th, the Lionheart consortium has made it very clear that our bid depends on a number of realistic and necessary conditions.
“The principal conditions are that shareholders agree to the deal, and that the transaction is completed in time for the club to avoid a 10-point penalty for season 2004-5. This deadline is coming very close.
“Since being selected as the preferred bidder, Lionheart has made considerable progress, including extensive and positive consultations with staff and players at the club, sponsors, supporters’ organisations and West Lothian Council.
“We hope to discuss the situation with Livingston’s principal shareholders as soon as possible and an approach is being made to expedite a meeting.
“We must underline again that our status as the preferred bidder means that there is no credible alternative which can ensure Livingston’s survival as a business and therefore as a football club.
“Our negotiations to date have been with the administrator and all parties are well aware of the situation, and especially the need for a swift resolution.”