10000hours representatives presented an offer to purchase the majority shareholding in St Mirren Football Club yesterday in talks that were today described as productive by the St Mirren website.

But the group behind the takeover bid admit they are concerned at the potential loss of revenue if Rangers drop out of the SPL.

A statement on the website said: "This revenue is currently surrounded by uncertainty given events occurring elsewhere that are beyond the control of either the CIC or the selling consortium.

"After long and productive talks it was agreed by both parties that it was prudent to wait for clarity surrounding the commercial revenues of the SPL before committing to any potential deal."

The St Mirren board have now invited 10000hours to gather opinion and comment from its members with regards to the newco proposals and to pass those thoughts formally on to the board.

That will in turn help the Paisley board reach their decision on the admission of a newco Gers and the outcome of that matter will then allow the Saints takeover bid to be concluded one way or another with two other parties known to be interested in assuming control of the Paisley club.