Montrose chairman Brian Winton has resigned from the Links Park club after a failed ultimatum to manager Steven Tweed. Winton called Tweed into the boardroom in the wake of the Third Division club’s 2-1 home defeat to Annan Athletic on Saturday in a bid to sort out the team’s ailing fortunes.

The majority shareholder had told Tweed, who has a year left on his contract, at a meeting three weeks ago that he should resign his position as boss, or else he would stand down as chairman.

When Tweed refused, Winton stood by his word and ended his time at the helm of the club after the Annan game, having conceded that the club did not have the money to sack Tweed.

“We had a meeting some weeks ago with the board and the manager about performances, especially on the footballing side. I outlined to the manager at that point if he wasn't willing to step down, I would step down,” Winton told STV Sport.

“Since that meeting we have had one draw and another two defeats. Five wins over a season to me is a poor performance and I just feel I am going to take the accountability and step down.

“Unfortunately the manager thinks he can turn it round in time, only time will tell.

“We've had no bust up or row. I made it absolutely clear if he didn't stand down, I would and that's where we've got to.

“He has a contract and he wants to see it out. If we wished to terminate that it would have cost the club money. As I say, in this environment, why would I do that? It's debt that is not necessary, it's easier for me to walk away.

“I don't want the club to get into debt and that's what it would do to move the manager on and get somebody new in.”

Defeat to Annan cut the Gable Endies five points adrift at the foot of the lowest senior division in Scotland with four games left to play, despite a sizeable budget being spent in the summer with a view to winning promotion after a fifth place finish last campaign.

Tweed’s side have won just one game at home all season and had to wait until January 30 for their first league victory, which finally arrived in an away match with Berwick Rangers. Four further league victories have since followed but the loss to Annan was their third consecutive defeat.

Montrose last finished bottom of the Third Division in the 1998/99 season and have played in the bottom tier since their relegation from the Second Division in 1995/96.