Falkirk move on from collapsed takeover bid

20-07-2019. Picture Michael Gillen. AYR. Somerset Park. Ayr Utd v Falkirk FC. The Scottish League Cup, SPFL Betfred Cup 2019 - 2020, Group G. Falkirk directors.
20-07-2019. Picture Michael Gillen. AYR. Somerset Park. Ayr Utd v Falkirk FC. The Scottish League Cup, SPFL Betfred Cup 2019 - 2020, Group G. Falkirk directors.

Falkirk are still looking for fresh investment after the collapse of English businessman Mark Campbell’s takeover bid last week.

The Falkirk Herald broke the news last Friday that the plug had been pulled on the deal following Thursday’s monthly board meeting with directors of the club.

It was 97 days after Campbell was made preferred bidder for the Bairns’ buyout and ended a long drawn out negotiating period between the League One side and the 46-year-old.

Non-executive director Gary Deans told the Falkirk Herald since last week various parties have made approaches to the club, but stressed it was very early days and as yet no discussions had taken place.

He said: “We’re willing to speak with others to unlock the potential of this club on and off the field. Where the club is at the moment is not right and is not acceptable.

“We need to get the club back into the Championship and build a club which is sustainable in the Premiership. We’ve got to get the investment right, and structure and performance on the park right. The club recognises the need for investment and is open to discussions.”

Campbell had vowed to make the Bairns a “Premiership club with Premiership facilities”, and said he would be putting in a multi-million pound investment before last week’s collapse.

A Falkirk statement said: “The club and Mark Campbell have agreed to end discussions on his proposals to acquire a controlling interest in Falkirk.

“Mark and the club have worked closely over the last three months to structure a deal that would be in the best interests of the club, not only now as we seek to get back to the Championship but as a strong base to get back competing at the highest levels.

“As with any such deal, negotiations have led to changes being proposed from both sides. Unfortunately, we’ve not been able to reach agreement on all matters and we’ve therefore agreed to end discussions on the proposals.”

Mark Campbell tweeted: “I can confirm the club and myself have agreed to cancel discussions on the proposal to acquire the majority share at Falkirk FC. The fans have been brilliant and I’d like to thank them for their support.”