The Scottish Premiership club are understood to have held talks with Larne over a compensation deal
The Scottish Premiership side held talks with Lynch on Friday before identifying the 44-year-old as their number one choice.
Lynch - who is expected to be joined by his two assistants, brother Seamus and Gary Haveron – held initial talks with St Johnstone on Friday, just hours before taking to the dugout for his side's 3-1 win over Cliftonville in the Irish Premiership. Ayr United manager Scott Brown was another name believed to be considered, but he dropped out of the running after holding talks with the Perth club.
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