The Irn-Bru First Division side look set to go out of business after Massone indicated yesterday he would reject an offer of £25,000 to stand aside and let new owners take control.

Interim manager Donald McGruther gave Massone until noon tomorrow to accept the pay-off in return for his controlling interest - or else see the club put into liquidation.

McGruther, from administrator Mazars, was appointed by the Court of Session on Friday after West Lothian Council took legal action to reclaim a £330,000 debt.

Nixon, a former Livingston director and chairman of Livi for Life Supporters Trust, told BBC Scotland: "There's nowhere else for Angelo to go at the moment and the decision on the survival of the club rests with him and him alone.

"He has to do the right thing to give the football club a chance of surviving and that's selling his shareholding."

Massone claims his lawyer advised him not to accept the offer made to him by interim by McGruther, who insists he will wind up the "hopelessly insolvent" club tomorrow unless the Italian relents.

Nixon added: "It's looking pretty desperate and everything pretty much hinges on the goodwill of Angelo Massone dispensing with his shares to Mr McGruther to allow interested parties to at least look at getting something from the situation.

"I would ask him to be as good as his word and do what he said he always wanted to do and that's the best for Livingston."

Former Cowdenbeath owner Gordon McDougall and ex-Dumbarton chairman Neil Rankine have expressed an interest in investing in Livi and Nixon believes the club could overcome administration if Massone were to surrender his stake.

"We've been working pretty closely with Gordon over the last few months and he holds the same beliefs as ourselves," Nixon said.

"Neil Rankine's obviously shown an interest as well. I've spoken to him over the last few days. I believe he's having a meeting with Donald today and he'll get a picture of what's required financially.

"I believe everything else is surmountable. We can get a positive outcome. It depends on Angelo. If Mr Massone sells his shares, I believe we can pretty much get to the end of the line. We have to hope that.

"It's far from easy and Angelo selling his shares is not the last hurdle, it's the first major hurdle. But, yes, we can see some daylight at the end of it if we can get over the hurdle of Angelo.

"But, make no bones about it, if he doesn't sell then there's nowhere for the club to go and Donald McGruther would have to report to the football authorities on Thursday that he won't be able to fulfil his fixtures."

McGruther accused Massone of failing to appreciate the seriousness of the club's plight.

Asked if the Italian was "showboating" and will transfer his shares before the deadline, McGruther said: "I do get the impression that there's a cultural difference, that Mr Massoni has spent the last year being approached by people who want to buy his shares and can't quite get his mind around the fact that this is now part of a legal process which has a conclusion to it - a nasty conclusion to it - as far as the club is concerned."

He added: "This could inadvertently lead to the club's demise - I can't believe that Mr Massoni would do this deliberately."

McGruther has spoken to several parties interested in Livingston, and asked if McDougall was the club's only hope of survival, McGruther said: "No, there are others, but basically they're going to have to move so fast its untrue, because the next stage of the process is to go to the SFL (Scottish Football League)."

Massone headed a takeover of the club from Pearse Flynn last summer but has not been able to overcome long-standing and deep financial problems.

Livingston's total debts are not known but they total more than £1million.