“Our progress has included extensive and positive consultations with staff and players at the club, sponsors, supporters’ organisations and West Lothian Council.
“There is real enthusiasm for Livingston at local level and clearly a lot of goodwill towards Livingston within the local community but also within Scottish business and football generally.
“We have conducted our affairs in good faith. We are confident that our plans for Livingston will quickly stabilise the club’s financial and commercial position, and make swift progress on player contracts, commercial agreements and embarking on our five-year plan.
“We must underline that our bid is dependent on Livingston being able to demonstrate that it is capable of moving out of administration so that the club does not risk beginning next season with the serious handicap of a 10-point deduction. If this progress is not achieved quickly, the Lionheart offer will lapse.
“The agreement of shareholders to pass over control to Lionheart is an essential condition for this deal to be completed satisfactorily. The alternative for the club is most likely to be receivership.
“We have a working plan to stabilise Livingston, retain the club’s position in senior football and invest in the future. The alternatives could be fatal to Livingston in commercial and footballing terms, and we would urge all parties involved to acknowledge this real danger and act quickly to secure the future of the club.”