Raith Rovers: Fife consortium 'remain in talks about potential purchase of club' as breakdown claim is dismissed

We understand that Thailand-based businessman Sim is instead continuing to listen to any interest from potential buyers – including the group of local businessmen – for the cash-strapped Kirkcaldy side, which has made an average loss of £150,000 a season since 2005.

Any negotiations will continue in the wake of a recent collapsed bid by Silver Bear Capital – headed by Hong Kong-based chief executive Peter Chun – to purchase Rovers.

“I have no idea where all this (talks with the Fife consortium breaking down) comes from,” our Rovers source said.

"No-one other than Silverbear has submitted a proper statement of interest. This was later withdrawn after they fell out with the chairman.

“We have, however, been approached by numerous potential investors including some Fife-based and some overseas based.

“We have a plan which was started in 2017 with the Stark’s Park Properties rescue to tidy up the Raith Rovers Structure to make it easier for potential investors.

"At the 2019 AGM Ali More explained that this would not be easy and could be expensive. This has been the club’s recent focus with Scott Boyd’s assistance, and we hope to make progress in the next month or two.

“We are in a listening mode and will explore any and all expressions of interest no matter how time consuming.

"Our main goal though is to somehow reach the play-offs.”

Back in January, Raith's talks with Silver Bear broke down with Rovers chairman Steven MacDonald losing patience with the potential investors, whose bid was spearheaded by adviser Mike Dellios.

MacDonald stated at the time: "The talks with Silver Bear are completely dead.

"I have had notification from Mike Dellios stating he won't be talking further so as far as that's concerned, I'm quite happy.

"I don't think they're the right people to get involved with. I think Mike has been unprofessional with the way he's gone about things.

"I didn't think there was any substance in what he was saying.

"I'm glad the deal hasn't gone through and we are happy to move on and speak to other possible investors.

"From speaking to the guys representing Silver Bear, there was just not enough meat on the bone, not enough knowledge regarding where the money was coming from.

"John Sim had asked for proof of funds and as far as I'm concerned he never saw anything."

Hopes remain in place among Rovers’ hierarchy that any sales deal can be completed by the end of the season.

The Stark’s Park outfit are currently sixth in the Scottish Championship, seven points shy of a play-off spot with eight games left.