Airdrie to be wound up
Scottish First Division club Airdrie, who have debts approaching £3m, have been placed into full liquidation.
Administrators KPMG today pulled the plug after waiting more than two years for a buyer to come forward.
But KPMG did offer fans the slimmest lifeline for the future.
The club effectively ceased to exist today, having already seen all its players leave, but liquidator Blair Nimmo revealed that the club's name is up for sale as an asset.
That means that if the Scottish Football League agree, a buyer could resurrect the club under the name of Airdrie FC.
The ground is also up for sale to the highest bidder, although the new club could play anywhere in its new guise.
But the club's First Division status no longer exists and the new era would be likely to start in the Third Division.
Liquidator Blair Nimmo said: "If a buyer is found for the original Airdrie FC name, it is conceivable that a 'new' Airdrie FC emerges.
"If so, as to whether the 'new' Airdrie FC remains in the league, or is required to seek readmission, is entirely a matter for the footballing authorities.
"The joint interim liquidators have today written to the SFL to advise them that the club is now heading towards full liquidation.
"It will then be for a buyer of the assets to liaise with the footballing authorities on the future footballing options."
KPMG pulled the plug on attempts to sell the club, which has debts approaching £3m, as a going concern.
No potential buyer put a concrete bid on the table before yesterday's deadline, bringing to an end a period of administration for the club that had lasted two years and three months.
The club's assets consist of its name, which is worth as much as anyone is prepared to pay, a shop in the town centre and the New Broomfield Stadium.
Nimmo said a valuation of the stadium, which is built on land owned by North Lanarkshire Council, had been made but would remain confidential.
Nimmo added: "Everyone involved with Airdrie is naturally very disappointed that no party has been able to drive through a deal to buy the club. "We have explored every possible avenue and mechanism for saving the club in its current form.
"However, we all need to recognise that the game in Scotland is facing severe financial problems. This is compounded by the particularly difficult financial and legal circumstances facing Airdrie.
"Sadly, as there is no-one willing and able to buy the club, we have no alternative but to market its assets for sale."
Former Scotland and Barcelona striker Steve Archibald was the first to try to take over the club and was granted preferred bidder status last season.
But he fell out with Nimmo and KPMG, who terminated his management agreement in January last year.
A consortium under the name of New Broomfield Management was subsequently granted preferred bidder status and appointed Ian McCall as manager.
McCall assembled a completely new team as Archibald's players were either sold off or left the club.
Amazingly, Airdrie mounted a promotion challenge under McCall before being pipped by Partick Thistle.
But following the final game of the season last week, McCall and his players left the club when their contracts expired.