Peter McKenzie has refused the latest offer to buy the club
A campaign by football fans to buy Stirling Albion football team has received a setback after the club's chairman rejected a £300,000 offer.
The Stirling Albion Supporters Trust said that, despite meeting the club's agreed sale price, Peter McKenzie had refused to sell to them.
The news comes as Stirling Council confirmed it was seeking to take possession of the club's stadium.
The authority, which owns Forthbank, said it was owed £50,000 by the club.
In a statement, Stirling Council said a report into the club's debts would be discussed at a forthcoming executive meeting.
The council said: "A report will be taken at the next meeting of the executive committee on 13 August, 2009, seeking authority to proceed to recover possession of Forthbank Stadium and the outstanding debt owed by Stirling Albion which is in the region of £50,000.
"This action has been discussed with the Stirling Albion Supporters Trust and we believe this is the most appropriate course of action and one that allows Stirling Albion the prospects of continuing as a football club."
So far, the BuyStirlingAlbion campaign has attracted support from more than 1,000 fans and such sporting luminaries as Cristiano Ronaldo and Andy Murray, whose grandfather once played for the team.
Those behind the campaign are aiming to make the club the first UK league team to be 100% owned by football fans.
Paul Goodwin, spokesman for the campaign, said "A substantial offer was made for the club at the full asking price placed by the chairman.
"For reasons unknown, that was rejected and a new, increased price, was placed on the club.
"Given the hard work put in by Stirling Albion fans and support from football fans across the world we are extremely disappointed with this decision.
"We have serious concerns about the future of the club as we are aware of significant creditors looking for settlement of existing debts."
A spokeswoman for Peter McKenzie said he was not available for comment.
Stirling Albion Football Club, nicknamed the Binos, was founded in 1945.
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