Thistle axe Campbell as rising losses cause turmoil

Chief executive Gerry Carey, who took up his post only late last year, also departed the First Division outfit as a cost-cutting measure, after Partick admitted that they had been experiencing unsustainable financial losses. Campbell's assistant Jimmy Bone remains to take charge of the club meantime.

It was the club's worrying bank balance which prompted Carey's departure, and Partick announced they will be seeking fresh outside investment.

Partick are sixth in the First Division but only eight points off the foot of the table, and a board meeting yesterday morning sealed Campbell's fate.

His side had lost five of their previous six matches, the latest of which was a 1-0 home league defeat to bottom side Airdrie on Sunday, and Campbell has been under consistent pressure this season from the Thistle supporters who have been unhappy at their play as well as the results.

Partick won their first two league games on their return to the First Division, and were unbeaten for the first month of the season but then faltered, going down to heavy home defeats from St Johnstone and Gretna. Campbell managed to steady the ship and kept the team in the top half of the table, before this latest run of bad results.

Former Dunfermline and Brechin manager Campbell joined Partick in January 2005, and steered the team to promotion from the Second Division last season via a play-off final against Peterhead.

In a statement, Partick said: "Following a meeting held earlier today, Dick Campbell will be leaving the club.

"Having considered the club's position, the board felt that a managerial change was required at this time. His assistant, Jimmy Bone, will take charge of team matters for the time being."

Partick have been unable to balance the books this season after being refused planning permission to develop an area of former terracing.

The statement added: "The considerable expense of running a 10,000-seater stadium built to comply with former SPL rules and providing funds to field a team have led, this season, to large losses which cannot be sustained. Consequently the directors wish to make it known that they are willing to discuss investment in the club from outside interested parties.

"Financial budgets for next season have been prepared and as a result of inevitable cost- cutting, the club have been forced to make redundant the post of chief executive.

"Gerry Carey, the present chief executive, will therefore be leaving the club as part of the board's drive to reduce costs."

Striker Derek Young said: "The boys will be gutted because he was a really popular guy in the dressing room. Everyone seemed to get on fine with him and the boys will be surprised that he has gone because he was a popular figure. I saw the gaffer and he seemed quite chirpy. It is quite disappointing and it's quite a surprise."