Brown has been appointed interim chief executive while he concludes the legalities of the sale.

BBC Sport Online exclusively revealed Brown's interest last week during a traumatic month for Scottish football.

Near neighbours Airdrieonians folded, while another Lanarkshire outfit, Motherwell, had the previous week gone into interim administration.

He is now in negotiations to acquire the major shareholding held by Jim Watson.

Brown said: "I entered into discussions with Jim Watson recently after becoming involved as mediator between the club and the players in relation to the late payment of wages.

"And he acknowledged that he appreciated that the public perception of his continued involvement in any aspects of the stewardship of the club may well be a hindrance to the desired progress in the current climate."

Brown said that the contract would be concluded "after I have had the opportunity to examine in detail the current financial position and the contracts which are in place".

"The board has been made fully aware of this transaction and it has been agreed that, during this period of examination, I shall act as interim chief executive of the club on a part-time basis with the necessary power to try to establish both short-term and long-term stability," he said.