Interested investor withdraws bid for Falkirk after latest delay

Falkirk’s ownership options are decreasing after one of the parties interested in buying into the Bairns stepped back from negotiations.

The ownership wrangles continue at The Falkirk Stadium. Picture Michael Gillen.
The ownership wrangles continue at The Falkirk Stadium. Picture Michael Gillen.

One of the two interested American-based investors – understood to be US stockbroker Scott Davidson – pulled an offer for the club at the weekend, leaving the local group of club sponsors, supporters and business figures plus one other American fronted group to bid for the Bairns.

Mr Davidson had shown an interest in the Bairns for several months and was one of three bids believed to be in the running last week.

However the delay to a decision by the club hierarchy last Thursday postponed an answer on offers until this Friday (June 7) pending further information from bids regarded as ‘incomplete’ by the board. Former chairman Martin Ritchie confirmed offers were still being scrutinised and a deal would take ‘a number of weeks’ in a statement on Saturday morning.

Former chairman Martin Ritchie made a statement on behalf of the board.

The Falkirk Herald understands no further information was sought from the local consortium or Mr Davidson who stepped back from dealings over the weekend.

It now leaves what Mr Ritchie described as ‘a small number of very serious proposals’ for the Bairns.

One is from the local group of fans, club sponsors and business figures, and another is reportedly fronted by American Mark Campbell, who was this morning close to a deal to buy a controlling stake in Sunderland.

There has also been interest rumoured from an Indian-based consortium – if there is to be any change at The Falkirk Stadium.

Mr Ritchie was confident new owenrship would be in place. Picture Michael Gillen.

In his statement on Saturday Martin Ritchie told fans he was ‘confident that there will be a change of ownership in the near future’, as well as club management changes in the coming weeks – though the speed of proceedings had been faster than the board anticipated.

The proposed appointment of an interim chairman to replace Margaret Lang and conduct a ‘root and branch review’ of the club has also been put on hold.