Saints had been linked with Glass for some time, and a few times it seemed as if the deal was likely to go through. However, it seems to have come down to money and the Pars have obviously offered more - why else would he turn down the SPL for the first division? There's no guarantee they'll get promoted.
It has looked likely for some time that Glass would go elsewhere, so hopefully Saints boss Gus MacPherson has something else up his sleeve.
Meanwhile, there are rumours suggesting that Jim McIntyre's move from Dunfermline to Saints may not yet be dead.
Story source: The Official Dunfermline Athletic Website