Falkirk to alter stadium venture

Falkirk want to end the Falkirk Community Stadium Ltd arrangement

Falkirk have approved proposals to end the joint venture they entered with the local council to manage their stadium.

The club and Falkirk Council formed Falkirk Community Stadium Ltd six years ago, providing the Bairns with the funds needed to build the ground.

Assets would be divided between the two parties based on the investment each has put into the project.

The council is set to consider the matter at a meeting on Wednesday and is expected to back the split.

"Falkirk Football Club will control and be responsible for what's called the 'Football Auditorium', which is everything you need to play a football match: the pitch, the floodlights, the under-soil heating, the seats," said managing director George Craig.

"The main thing the council will get from this is the rental income from areas in the West Stand.

"For example, there's a nursery in the West Stand at the moment and they pay a rent. In the future, they will pay rent to Falkirk Council.

"The council will also get development rights to the majority of the site."

Craig also insisted the new arrangement would have no effect on plans to complete the stadium, with construction on the South Stand already under way and an East Stand also in the pipeline.

Chairman Campbell Christie added: "In the current economic climate, with the credit crunch and the problems in the property market, the FCSL approach is no longer viable to deliver our ambitions.

"The division of the assets between the club and the council allows each party to focus on their strengths and their own businesses.

"Since October, much work has gone into this complex process and I am hopeful that everything can be finally concluded in the near future."