Bank criticised as Livi takeover collapses
West Lothian Council have blasted the Halifax Bank of Scotland after the Lionheart Consortium withdrew their bid to take over Livingston.
The group, headed by Irish tycoon Pearse Flynn, pulled out of the deal this afternoon after negotiations between the council and the club’s main creditors, HBOS, broke down.
Now councillor Willie Dunn, Convener of the Enterprise and Development Committee, is looking for support from Livingston MP and former Foreign Secretary Robin Cook in a bid to save the club.
Dunn said: “After face-to-face meetings with the bank, we believed that a resolution to this matter had been achieved.
“However, we received a fax this afternoon asking the council to enter into agreements which we as a council believe to be inappropriate.
“Our message is clear; we will not allow HBOS to hold the people of West Lothian to ransom.
“We are now seeking an urgent meeting with Robin Cook MP, Bristow Muldoon MSP and the chief executive of HBOS to seek an explanation of the bank’s actions which could lead to the demise of Livingston FC.”
The consortium’s decision leaves the City Stadium club facing an uphill struggle to beat the SPL deadline of May 31 when clubs in administration will be deducted 10 points for next season.
A Lionheart spokesman said: “We can confirm that the offer has been withdrawn and the deal is off. We will say more later.”
Flynn had planned to replace manager Davie Hay with coach Allan Preston for the new season.
The former St Johnstone player had vowed to cut short his holiday if the Lionheart consortium successfully gained control of the club.
After losing Marvin Andrews, Derek Lilley, Lee Makel and Jon Paul McGovern already – with Jamie McAllister and Emmanuel Dorado reportedly interesting other clubs – the Livi coach recognises he must act quickly if he takes over.
Preston said: “I’m going away tonight but I’ll be ready to come back if I get the call saying things have moved on.
“There’s a big job to be done at Livingston and the longer time drags on the harder it’s going to get.
“We keep hearing a solution is close but so far nothing is certain. There’s been so many false starts it’s unreal.
“I’m going on holiday tonight and I’m looking forward to getting away from all the speculation as much as anything else.
“I’ve been linked with St Johnstone, I was supposed to be going to Hibs and there’s also the Livingston situation.
“The first two proved unfounded and nothing concrete has yet been put in front of me at Livingston either.”
