The changes will also see the Marr brothers put most of their shares up for sale and new investors sought.

Peter believes that can pave the way for an SPL return and that signs of the improving state of the club will quickly become apparent.

“I am a bit sad about this, but I feel there is exciting news to come out of Dens Park between now and the end of the month, and it’s for the good of the club,” he said.

He was also more than happy for any money raised from his shareholding to be ploughed back into Dens.

“The fans here have been tremendous in the way they have supported us financially and, hopefully, this can help.

“I also hope they see these moves are to strengthen the club.”

The fact the restructuring has still to be signed and sealed with bankers HBOS, limited discussion over the elimination of the £7 million Dens debt and even the nature of the transfer of ownership of the stadium.

However, first choice for the ground is that it will be owned by a Charitable Trust and rented back on a 40-year lease, though it may be that a company has to be set up instead.

For MacKinnon, who will also be joining the board of directors, the first priority will be the appointment of a manager who can set about building a squad capable of securing that much-sought-after SPL return.

He confirmed Alex Rae as a candidate and is likely to interview three or four potential bosses with a view to having the new man in place by the end of this month.

The securing of a shirt sponsor and player-contract negotiations will also be high on his list of priorities and the new man is looking forward to the challenges ahead.

“This club is SPL worthy — Peter has shown me the facilities and they are great. I see this as a great opportunity for me. I was a player here 30 years ago and I know the club and I know the support. I know, too, there are strong people here.”

A season ticket package will be put together shortly and the new chief executive will be looking for fans to back it by booking their seats for next season.