Stirling Albion Football Club (SAFC) has rejected a "substantial" takeover bid put forward by the Stirling Albion Supporters' Trust (SAST), raising fears over the long-term future of the club.

SAST, which launched the BuyStirlingAlbion campaign earlier this year, is aiming to buy out current club chair Peter McKenzie and establish the Scottish Division Two side as the first to be fully owned by football supporters. According to the trust, SAFC has been seeking new investment for a number of years in order to stave off the threat of closure due to mounting costs, but has rejected the BuyStirlingAlbion offer and increased the asking price.

Paul Goodwin from BuyStirlingAlbion said: "The size of the offer was made in good faith and in recognition of the financial support Mr McKenzie has given the club over the years, but the fact remains the club has no assets and has massive debts. "We firmly believe that this very generous offer is an exceptional sum of money for a business that has little or no value. The figures now being quoted are simply not reflective of a club that has spiralling debt and no commercial plan."