Livingston chairman Angelo Massone claims he is in talks over a financial partnership with former Dumbarton chairman Neil Rankine.

There are fears the Irn-Bru First Division club are heading for administration next week but Massone spoke with optimism over a rescue package with Rankine.

"He is really interested in Livingston FC and he thinks we have a fantastic possibility to work together," Massone told BBC Radio Scotland.

Much of Livi's immediate financial problem centres on a debt of around £300,000 owed to the council, but Massone insists they are on course to pay their stadium rent.

"The council knows I want football in West Lothian," he said. "Putting the club in administration would not be good business for the supporters of Livingston.

"I will speak to the council but we will definitely pay the rent in arrears before the end of June."

The Italian admitted he had misjudged the "dynamics" of Scottish business but he refused to accept full responsibility for the financial problems of the club following one season in charge.

"Ninety percent of the creditors accepted my deal," he said. "The other people are friends of people who don't want Angelo Massone as chairman of Livingston FC.

"From a financial point of view the club is better off now than when I took over.

"If Setanta don't pay the money to the SPL clubs, Livingston will be better off than other clubs. Our debt is really, really under control."