The future of cash-strapped Kingstonian Football Club is hanging in the balance after a rescue bid failed.

Plans to let Farnborough Town share Ks Kingsmeadow ground were rejected at a Football Conference board meeting last week and the issue now looks unlikely to be settled until the new year.

The decision is a body blow for crisis-wracked Kingstonian, who viewed the deal as one solution to their financial woes.

The club was forced to call in administrators in October and sacked nine first team players, after running up crippling debts following last seasons relegation from the Football Conference.

Another bidder is also interested in investing in Kingstonian and rumours abound that homeless Wimbledon Football Club have offered to buy out the clubs 110-year lease on Kingsmeadow and use the club as an administrative centre and training base.

But there is still potential for the Dons to use the 6,125 capacity ground for their first team if the deal goes ahead, because Kingsmeadow is a Football League standard stadium.

According to Ks administrator, Nick Hood, who would neither confirm or deny the Wimbledon rumours, no deals will go through before the start of the new year.

He said: I have enough money to see the club into the new year. I am frustrated we have not got a deal yet but I am not worried.

A decision on pitch sharing, with Farnborough coming to Ks, would spell an end to Ks financial problems, which forced the club into administration.

High-flying Farnborough need a new home if they are promoted into the Football League next season because their current pitch does not meet the required standards, and they cannot be promoted unless they find one that does.

Kingstonian Supporters Club travel secretary, Tim Wells said: Farnborough used to play their games on our reserve pitch so this will be a bit like them coming home. If it brings money into Kingstonian Football Club, great.

Wimbledon, who have been homeless since leaving Plough Lane, havea long history with Kingstonian and have been linked with a potential deal ever since Ks went into administration. But some older supporters are worried that the club could lose its identity if the lease is sold.

Wimbledon FC remained tight lipped on any possible deal but said fans have nothing to worry about, regardless of whether the rumours are true or not.

A spokesman said: We have a close relationship with Kingstonian. We play our reserve games there, our ladies games and our youth games. We are always looking at ways to help our partners.

By.David Rankin