Angelo Massone, the Livingston chairman, has given Donald McGruther, the interim manager, no indication that he is ready to change his mind and transfer his majority shareholding by today's noon deadline.

Angelo Massone, the Livingston chairman, has given Donald McGruther, the interim manager, no indication that he is ready to change his mind and transfer his majority shareholding by today's noon deadline.

McGruther, who has been appointed to take over the running of the club by the courts due to debts estimated to be in the region of £1.3m, has warned he will have no option but to initiate liquidation proceedings if Massone does not accept the token fee of £25,000 for his controlling interest.

Gordon McDougall, the former Cowdenbeath chairman, is ready to put together a rescue package in conjunction with the Livi for Life Supporters Trust but Massone must first sign over his stake, something he has said he is not willing to do.

Speaking last night, McGruther, of accountancy firm Mazars, said: "I've not spoken to him since yesterday Monday regarding the issue when he was made the offer.

"Unless he changes his mind the club will cease to exist.

No-one will want to invest in a club that they will not have control over."

Neil Rankine, a potential investor, met McGruther at Almondvale yesterday afternoon to discuss the club's plight.

The former Dumbarton chairman has previously said he is also interested in putting together a package but that all hinges on Massone meeting today's deadline.

As the clock counts down, Roddy McKenzie, the club's goalkeeper, joined the chorus of voices urging Massone to avoid making the club's players and staff jobless.

"I think it's up to Mr Massone, the ball is in his court," said McKenzie.

"You could say the future of the club is in his hands. There is no way you can predict what's going to happen because we have been trying to do that all season.

"We are hoping the club can come through at the other end. If not you are looking at a lot of players and staff losing their jobs.

"We have not spoken to the chairman, I don't know if there would be any point, to be honest. There has been no dialogue between the players and Mr Massone."

Livingston, whose players are unlikely to be paid their monthly wages on Thursday, play Albion Rovers in the Co-operative Insurance Cup on Saturday. Fraser Wishart, the PFA chief executive, met the squad yesterday afternoon to inform them of their options should the club cease to exist.

Because Livingston have not yet officially been condemned to administration, the players believe their contracts are still valid.

"We are just all going about our business and trying to be as professional about it as possible," added McKenzie.

"You never know, we might be looking for a new club soon so you have to keep yourself fit. I suppose there is a for sale sign around every players' head at the moment."