Johnston has agreed to meet with the Kilmarnock Futures Consortium, a group led by Alan McLeish of the team’s sponsor QTS, and also including businessman Kenny Alexander, Chris McMail of local firm Microtech, and former Kilmarnock chief executive Ian Welsh.
The committee will enter talks with Johnston and are expected to table an offer which will stipulate their stewardship of the club will entail a level of community ownership for supporters who have threatened to boycott matches.
A statement from Kilmarnock Futures Consortium said: “Everyone with the best interests of Kilmarnock Football Club at heart wants to reverse the recent dip in the club’s fortunes, both on and off the pitch.
“To that end, we are meeting Michael Johnston tomorrow (Friday) to discuss our proposals to take over the running of the club, which we believe should include the involvement of the fans.
“This meeting is the culmination of months of confidential discussions with Michael, during which we have outlined our ambitions, plans and credentials to initially stabilise the cluib and to drive towards a positive future.”
The consortium will also look to restructure the club’s debts, which are in excess of £9 million. Johnston had earlier announced that the club had received a cash injection of £1 million from local businessman and major shareholder Billy Bowie.