Tuesday 25 November 2014 14:10, UK
Livingston chairman Gordon McDougall has told Sky Sports News HQ that the club’s future is not in imminent danger, despite a five-point deduction and £10,000 fine for breaching SPFL tax regulations.
The club will not appeal the penalty imposed by the league on Monday, after they admitted failing to declare they had been in default of tax relating to bonus payments made in the 2010-2011 season.
Livingston now sit seven points adrift of Cowdenbeath at the bottom of the Championship on four points following their deduction.
McDougall also said he could not put a timescale on when a settlement with HMRC would be agreed for the unpaid tax.
"We are working with the accountants and HMRC to establish what the indebtedness is and until that is completed there's nothing further we can say," he said.
Asked what position the club was now in, he added: "It's no worse than any other club. This is historical. This is something that we volunteered so although the headlines say 'tax difficulties' it's not the case."
Livingston remain under a registration embargo imposed in August after they first made the SPFL aware of their problems. This will remain in place until the debts are repaid in full.
The club have twice endured spells in administration in the last decade, firstly between 2004 and 2005, and then in 2009.
Livingston has only been in existence in its current form for 19 years, having changed its name from Meadowbank Thistle and moving from Edinburgh to West Lothian in 1995.
Livingston also currently face a separate SFA enquiry regarding alleged breaches of ownership rules, relating to shareholder Neil Rankine.
The alleged breach concerns claims that Rankine “also holds interests in East Fife FC and Dumbarton FC”. The case is due to be heard this Friday.