It's claimed community ownership is the only way to ensure the survival of Scottish football.
The East Fife Supporters Society want to buy a majority shareholding in the club.
The Society will hold a public meeting to discuss plans on Saturday 30th August.
Allan Duthie, Chair of the EFSS said:
"We are really keen to get as many supporters as possible involved in the planning. We know that there will be many questions and we look forward to answering them. This is a real opportunity for our local community to claim back the club that was created by local people, for local people over 100 years ago."
It comes weeks after Chairman Lee Murray resigned, claiming those controlling the side did not share his vision of top flight football within ten years.
The Bayview side could follow in the footsteps of Dunfermline and Stirling Albion - both are community owned.
Eugenie Clarke is an East Fife Supporters Trust director:
In a statement, interim Chairman Jim Stevenson refused to comment on the matter and said his biggest concern is keeping the club going.
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