Falkirk are consulting supporters over the possibility of fans taking a controlling interest in the club.
The move has the backing of the six current major shareholders and the “overwhelming support of ordinary fans” according to Kenny Jamieson, who is co-ordinating the plan.
The goal is to raise £800,000 to buy 2.4m new shares, with all of the funds to go towards the playing budget.
Falkirk are currently ninth in the Championship, a point off the bottom.
They have been in the second tier since relegation from the Scottish Premiership in 2010.
Jamieson and fellow supporter and businessman David White say matching their target would allow them to plan the next steps in greater detail, with a view to helping the club return to the top flight.
They feel the club are currently too heavily reliant on their six major shareholders.
What is the proposal?
It is a two-tier one. They want fans to commit to become ‘Patrons’, with a lump-sum investment of £5,000 or more, or ‘Supporters’, with a monthly donation of at least £5 for a minimum of two years.
As part of a presentation, they suggest £560,000 could be raised if 40 ‘Patrons’ invest an average of £14,000.
The initial aim was to have around 1,000 ‘Supporters’ putting in £10 per month over two years to raise the additional £240,000, though Jamieson told BBC Scotland that pledges from over 750 fans had already reached that total.
Pledges from ‘Patrons’ are at £150,000, “some way short of the £560,000 goal”, albeit the request for them was only made on Monday.
“I said at the AGM that, in 1998, ‘Back the Bairns’ effectively created a different future for Falkirk and that the last 20 years were the result,” added Jamieson, a former commercial director at the Scottish FA.
“I see this as a similar opportunity to take a different path from our current trajectory and to create a new, better future.”
If the plan proceeds, the idea is to have the new scheme up and running by May this year.