Mark Campbell's protracted takeover of Falkirk is over after the club announced they have ended talks with with the American-based businessman.
The League One side had been in discussions with tycoon over a number of months but he is no longer in the running to take the reins.
A fans' group had been conducting checks into Campbell with concerns over his business interests Stateside.
He was looking to acquire a 61 per cent stake in Falkirk but the club confirmed that any deal was now off the table.
Despite the setback, the Bairns, managed by Ray McKinnon, are continuing to seek further investment from elsehwere.
Falkirk's statement in full:
"The club and Mark Campbell have agreed to end discussions on his proposals to acquire a controlling interest in Falkirk Football Club.
"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 the club back competing at the highest levels.
"As with any such deal, negotiations have led to changes being proposed from both sides.
"Unfortunately, we have not been able to reach agreement on all matters and we have therefore agreed to end discussions on the current proposals.
"We have found Mark and his team open in all our dealings and wish to thank him for his willingness to engage with us.
"The discussions have presented areas which we think are of interest to the club and would advance us both on and off the field.
"We are therefore continuing to explore such opportunities. It is in all our interests to ensure the future stability of the club but it is recognised that steps need to be taken to unlock its potential.
"We will continue to seek investment that will benefit Falkirk FC."
