Falkirk extend Steven Pressley's contract as manager
Falkirk have ended speculation about Steven Pressley's future by extending the manager's contract until May 2012.
Some sections of the Falkirk support have expressed displeasure because Pressley's side have almost certainly missed out on promotion.
But chairman Martin Ritchie told his club website: "The club is about to go through substantial changes.
"From board room to management level, to our football HQ at Stirling University and at our offices."
Pressley, who stepped up from assistant in February 2010 after Eddie May's resignation, was unable to prevent the Bairns being relegated from the Scottish Premier League.
And they now sit third in the Division One table, six points behind Dunfermline Athletic with only two games remaining.
Their only hope of promotion is if the Pars lose to Morton on Saturday, the Bairns beat the Fife side at East End Park the following week, while second-top Raith Rovers fail to win their final two games.
However, Ritchie, who has previously warned about the financial problems facing his club and Scottish football in general, believes that retaining the 37-year-old former Scotland defender is important for Falkirk's future.
"Before making these changes, we need to ensure we have a solid foundation in the core of our business and the extension of Steven's contract is a key to this," he said.
"Steven has been manager for the last 15 months and is part way through the job he was set to build an exciting young side largely drawn from our academy graduates.
"The board is committed to maintaining the academy as central to the football strategy.
"We believe that, in the medium and longer term, this strategy can give us competitive advantage in both football and financial terms.
"Steven has demonstrated his commitment to Falkirk Football Club and to the football strategy he has helped to create and fully endorses.
"Having secured Steven's position as manager, we can now progress with key changes in the business.
"These will address our ability to provide an attractive football team that will challenge for promotion to the SPL within the very severe financial constraints under which we have to work."