TROUBLED FALKIRK ARE HEADING FOR £800,000 LOSS

LEAGUE ONE Falkirk are heading for a cash-flow crisis following a boardroom exodus earlier this week. Chairman Gary Deans, director Gordon Colborn and investors Phil and Carrie Rawlins announced plans to step down at the Bairns AGM next month. And Sportsmail understands shareholders will be warned of a projected loss of £800,000 for season 2021-22 at the meeting. in a worrying development, the Bairns expect to lose similar sums in the following seasons if they fail to win promotion while continuing to run a full-time structure. Currently fifth in the third tier, Paul sheerin’s side are three points adrift of leaders Queen’s Park after 12 games.

New concerns over the club’s financial future follow a shambolic Q&A session where board members faced a grilling from the supporters. the Rawlins purchased a 26-per-cent stake last year, with a Falkirk source telling Sportsmail the couple are now considering how to proceed with their stake in the club. Outgoing chairman Deans had previously defended plans to invest scarce resources in the club infrastructure, while the team is struggling to win promotion. Admitting that the Bairns need new investors and new thinking in the boardroom, he said: ‘Do we need to bring in more investment? Yes, it’s clear. there is a change coming in scottish football. ‘We have seen it already with the external investment from America and other places. ‘We have some clubs commissioning a review on behalf of the sPFL. ‘there will be criteria that clubs almost have to be able to play at or have the facilities to be able to play at the top level. if you’ve not got them, then you’ll not be able to play there.’ A club statement this week read: ‘Falkirk Football Club can announce that directors Gary Deans and Gordon Colborn have tendered their resignations from the board of directors and will step down from their respective roles at the club’s AGM, which will take place in December. ‘Phil and Carrie Rawlins have also announced that they will also be stepping down from the board at the forthcoming AGM. ‘these decisions have been taken for a number of personal and family reasons, and it is important that there is now a smooth process to appoint new directors to the board. ‘Discussions will now take place with key stakeholders over the coming weeks around the future governance of the club and we will keep supporters updated on matters as they develop.’