Raith Rovers: Ex-manager John McGlynn welcomes Kirkcaldy side's sale talks with consortium

Rovers have reportedly lost an average of £150,000 a season since 2005, and club owner John Sim remains in dialogue with the unnamed group of businessmen about a sale, with the end of March targeted as a potential date for resolution.

This development has come as a major boost for Rovers followers, after news that similar discussions over a deal with Hong Kong-based Silverbear Capital Inc had broken down.

McGlynn, 61, who managed Raith between 2006 and 2012 and again from 2018 to 2022, told the Fife Free Press: "Obviously I worked there for a long time and I don’t want to see financial difficulties and hopefully they can overcome that.

"Mr Sim is a very shrewd businessman. He’ll do what he thinks best.

"Based on the club losing £150,000 a year I think this (a sale to the consortium) could be a crucial intervention.

“There seemed to be a deal going on previously and that broke down.

"So I think until the ink is dried on the contract or whatever it may be, then we just need to wait and see what happens.”

With the ongoing cost of living crisis, Raith are not the only club experiencing financial difficulties at this time and the January transfer market for signing new players seems to be proving to be one of the quietest in living memory.

League One outfit Falkirk, whom McGlynn has been managing since last summer after leaving Raith, have been trading with a £400,000 operating loss and are restricted to loan signings this month.

"I think it’s just life at the moment, everyone’s really struggling,” McGlynn added. "Whether it’s the cost of living or strikes or whatever.

"To be fair, our crowds have been fairly good. They are not down much at all which is a big, big compliment to the Falkirk fans.

"We’ve just come through Christmas and New Year and yet they are still turning up in great numbers which is a massive compliment to them when things are so difficult.

"Everyone’s feeling the pinch, every football club will be feeling the pinch. So hopefully the strong survive.”