LIONHEART Management, led by Pearse Flynn, have acquired the majority shareholding in Livingston Football Club from Dominic Keane.
The move means the club are expected to leave administration before the end of the current Bank of Scotland Premierleague season.
Lionheart ensured Livingston's survival in the SPL during last summer, agreeing to manage the club under contract while administration continued.
Now, after the team ended a seven-game losing streak in the SPL this week at the expense of Kilmarnock, this news comes as another boost for the club.
Livingston went into administration in February, 2004, just hours after having clinched a place in the CIS Insurance Cup final, which they went on to win.
Now Flynn believes yesterday's announcement can boost confidence around the club. "We are delighted at the news, and delighted particularly for the supporters, the team and all employees at Livingston, " he said.
"We have ambitious longterm plans, but our ability to put these into operation was made impossible by the continued uncertainty since last summer. There is a lot of hard work ahead, but everyone can look forward to the future with a greater sense of security."
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