McGinnity had fallen foul with supporters for appointing Peter Reid and with his departure there have been calls for him to fall on his sword as well.
Mr McGinnity who through personal and money from PEL PLC has loaned the club around £2m has found the last six months extremely hard. The Dhinsa saga took its toll and calls for his head have been heard at recent matches.
Despite having a number of holidays, Mr McGinnity is not a picture of health and a move to the club's back benches may even extend his life.