Several meetings have been held this week and the Bairns board met last night – 97 days since Mr Campbell was named preferred bidder for a Bairns buyout.
The anticipated timescale has been beset by delays and the club confirmed negotiations had now ceased.
The club confirmed in a statement saying: “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.”
Mr Campbell initially aimed to takeover within a month of being paraded to the Falkirk fans in Behind The Goals, hoping to take control by the end of the summer transfer window, but a deal was unable to be struck in the initial timeframe.
Fans became increasingly frustrated at the lack of progress and updates off the field, with the Bairns sitting third in SPFL League One on it.
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