Inverness

[SHODAN]

Entering administration.

[Jones28]

Crikey.

Relegation has been a disaster for them.

Have they not also had some bizarre goings on at the club re ownership etc?

[greenginger]

Entering administration.

Is Mr Self-Sufficient, the Jambo geezer still with them

[Billy Whizz]

Is Mr Self-Sufficient, the Jambo geezer still with them

Think he’s gone now, but he’s chasing a loan he put in

Has the admin been confirmed yet. See they’ve just signed a player on loan

[IanM]

Potential administration - doesn’t look good mind

[Billy Whizz]

Potential administration - doesn’t look good mind

Wonder who they own money too?
What’s the point deduction for admin?

[IanM]

Wonder who they own money too?
What’s the point deduction for admin?

15 points this, 5 next.. can’t seem to see who or how much the must be running out of time for a buyer.. immediate redundancies for staff and players a risk

[GreenNWhiteArmy]

1 win this season. Not doing well. Surprised they kept Big Dunc tbh

[Sergio sledge]

Think he’s gone now, but he’s chasing a loan he put in

Has the admin been confirmed yet. See they’ve just signed a player on loan

It's a bit odd given they announced a month ago that they had struck a deal with their major creditors to either convert debt to equity or waive debt to put them in a better financial position.

However there have been rumours circulating for a while of local businesses being owed money, Dundee and Ross County being owed money and Puma being owed money which was why they didn't start the season in their new strip.

I suspect they've got too big a cost base for the division they are in, probably due to contracts signed by Gardiner that had no relegation clause in them and this is ICTFC trying to avoid another season with a 7 figure loss as that is unsustainable.

It'll be horrible for the employees and the local businesses that will lose out.

[HendoDelivered]

1 win this season. Not doing well. Surprised they kept Big Dunc tbh

His wages even after a pay cut are outrageous for a team in that league. Think I read 3.5k a week after the cut 😂 couldn’t believe it.

[Paulie Walnuts]

Someone told me recently that an American was considering investing in them. He had a look, seen the absolute state they were in and he’s put some cash into Spartans instead.

Whether that’s true or not I’ve no idea.

[Sergio sledge]

Someone told me recently that an American was considering investing in them. He had a look, seen the absolute state they were in and he’s put some cash into Spartans instead.

Whether that’s true or not I’ve no idea.

Wouldn't be surprising, I know for a fact one investor with a history in the Highlands and in investing in football was asked if he'd be willing to invest and responded that he had a look at the accounts and spoke to some of the people involved and couldn't see any way for the club to avoid going into administration.

[grunt]

Nothing on BBC website. Nothing on ICT website. They have a story dated today about taking a player on loan.

[J-C]

I think they've always been above their station, they're a championship/league 1 size club and the few years in the Premier league gave them a false position.

[Groathillgrump]

Nothing on BBC website. Nothing on ICT website. They have a story dated today about taking a player on loan.

There was a link to an 'Exclusive' in the Inverness Courier posted in the BBC Scottish Football Gossip section this morning.

EXCLUSIVE: Inverness Caledonian Thistle FC has launched talks about potentially entering administration with the same company that handled the liquidation of Rangers.

Internal documents seen by The Inverness Courier reveal that initial contact has been made with large accountancy firm BDO which, as well as dealing with Rangers, also were the administrators for Hearts and Dunfermline.

Previously, Alan Savage promised on August 13 to maintain the club for a period of three to six months as he sought to find a potential buyer by propping it up having taken control of running the club day-to-day.

But now - exactly seven weeks on from that announcement - it appears his efforts to rescue the club have come to an end in what is a devastating blow for Caley Thistle.

Right now the club is in the pre-administration phase but if it does appoint BDO as the administrator that would trigger a number of immediate actions including a points deduction and redundancies.

The document from BDO titled “Operation Kessock” is dated as Friday, September 27.

It outlines “Indicative Administration & Company Voluntary Arrangement (“CVA”) Timeline” – that is a method to rescue a company/club in deep debt by reaching agreement with creditors about repayment of all or part of its debts.

But it comes with a heavy price both on and off the field. If an administrator is appointed it would mean “immediate redundancies” not just of staff but potentially players too.

The SPFL would deduct 15 points this season and five points next season as well as placing the club licence under review - if Caley Thistle loses its licence then it would not be permitted to compete in professional football.

BDO projects three phases ranging from one to 12 weeks though it can be reasonably assumed that this is subject to change depending on what is discovered and what obligations need to be met.

The first phase is the pre-planning stage due to last between one and two weeks - this is approximately where the club is headed to at the moment.

It involves reviewing cash flow projections, agreeing a reduction in costs and liaising with football authorities like the Players Football Association (PFA). That is seen as “critical” because player redundancies are on the table so PFA support will be “vital to ensure fixtures can be completed”.

Then it would be a matter of preparing the administration cash flow forecasts to ensure funding requirements can be met to cover any trading shortfall and the costs of the administration.

A media communication strategy would need to be agreed and sales memorandum and non-disclosure agreements would be drafted as well as consideration of whether the Financial Conduct Authority (‘FCA’) needs to be notified prior to appointment.

Stage two would likely last from weeks three to eight and would see appointment of administrators leading to “immediate redundancies” and work to find a buyer starting in earnest.

There would be engagement with interested parties and then, to verify if any bids were viable, a data room would be set-up with the co-ordination of any due diligence work and ongoing dialogue with relevant authorities.

The closing date for bids would be issued and then a preferred bidder would be appointed followed by approval from football authorities that they are “fit and proper” to own a club.

The period of time for this to take place could also be extended depending on the interested parties. Finally a draft sale and purchase contract would be agreed and draft proposals to repay creditors.

The repayment proposals would be finalised with a meeting of creditors and shareholders and if approved then the company/club would exit administration.

Alan Savage, Caley Thistle and BDO have all been approached for comment.

[Waxy]

The Inverness caley thistle

[.Sean.]

I think they've always been above their station, they're a championship/league 1 size club and the few years in the Premier league gave them a false position.
Bit of a shame, I’ve had some absolutely class away days up there over the years. I’d be very surprised to ever see them in the top league again.

[Liberal Hibby]

Maybe they could demerge and start again as two clubs in Highland league...

[Waxy]

Maybe they could demerge and start again as two clubs in Highland league...

Which part though caley or thistle has dragged them down?

[Cabbage-Patch]

1 win this season. Not doing well. Surprised they kept Big Dunc tbh

I might be wrong but was be not on a massive wage (for them) and he agreed to half it?

[Sergio sledge]

https://ictfc.com/club-update-2/

There's no chance they avoid administration to be honest based on this. They might get £200,000 in 2 weeks, but that will just delay the inevitable.

[SteveHFC]

https://ictfc.com/club-update-2/

There's no chance they avoid administration to be honest based on this. They might get £200,000 in 2 weeks, but that will just delay the inevitable.

They’ll be gone by end of the year.

[Sergio sledge]

They’ll be gone by end of the year.

I don’t know about gone, but administration is almost a certainty and it’ll be tough to find a buyer I’d imagine.

Couple of interesting things from the statement, ICTFC are paying puma (or whatever British kit agent they use) £120,000 per season to provide kit for them. At £50 (£41 after VAT is taken off) a top that means they have to sell nearly 3000 tops just to break even. For a team that averages under 2000 at each game that seems crazy.

The guy who forgot to order the seats at Hearts is suing them for £170,000 after running the club into the ground and ruining what little connection the club had to local people. Shameless.

They clearly never cut costs after relegation to the championship and have been haemorrhaging money ever since, propped up by directors loans.

[Billy Whizz]

I don’t know about gone, but administration is almost a certainty and it’ll be tough to find a buyer I’d imagine.

Couple of interesting things from the statement, ICTFC are paying puma (or whatever British kit agent they use) £120,000 per season to provide kit for them. At £50 (£41 after VAT is taken off) a top that means they have to sell nearly 3000 tops just to break even. For a team that averages under 2000 at each game that seems crazy.

The guy who forgot to order the seats at Hearts is suing them for £170,000 after running the club into the ground and ruining what little connection the club had to local people. Shameless.

They clearly never cut costs after relegation to the championship and have been haemorrhaging money ever since, propped up by directors loans.

What’s he suing them for!
It’s £70k not £170k

[He's here!]

Maybe they could demerge and start again as two clubs in Highland league...

They should never have merged in the first place. It never felt to me like a proper club with a strong identity.

Had they just put one of the teams forward there would have been a decent chance the other would have also made it into the leagues under their own steam.

[The Harp Awakes]

They should never have merged in the first place. It never felt to me like a proper club with a strong identity.

Had they just put one of the teams forward there would have been a decent chance the other would have also made it into the leagues under their own steam.

I think you're spot on about lack of identity. Ross County are the obvious comparison - an established club playing in a much smaller catchment area but who seem to be doing reasonably well for their size.

Never had much time for ICT. Too wedded to the jambos for me and with a hunnish identity and colours, etc.

[CropleyWasGod]

What’s he suing them for!
It’s £70k not £170k

The statement says £170k, but it also says "litigation threatened". Chances are they will come to a settlement before he actually sues.

[Sergio sledge]

What’s he suing them for!
It’s £70k not £170k

The statement says that it could cost the club £170,000 plus, perhaps that includes legal fees etc I guess.

The story is that he made loans to the club and as part of his leaving should have been repaid them, but they can’t afford to do it.

[Irish_Steve]

Ross County actually show how it should be done and it is rather impressive the way they have managed to climb to the top division and manage to stay there, usually. A solid fan base as a result of nearly being a 100 year old club and that's where ICT fall down.

A "new" club that suffered from the fact that some fans of the merged club never took to the new club and outwith the OF all clubs need as many fans as possible

[Musselbound]

Maybe they could demerge and start again as two clubs in Highland league...

Think it was mentioned on the View from the Terrace clip from inside the club that the worst case scenario was the Highland League. If that were to happen you never know.

[Musselbound]

15 points this, 5 next.. can’t seem to see who or how much the must be running out of time for a buyer.. immediate redundancies for staff and players a risk

If it's a 15 point deduction then there's every chance they could go down again this season.

[Carheenlea]

Go Fund Me page set up to raise capital

Following the report to Shareholders dated 1st October 2024 in which the Club laid out its current perilous financial position, which was subsequently published in the media, the Board of Directors are exploring all avenues to raise funding to save the Club from entering Administration.

Since the Club was formed in 1994, it has been supported, financially, by various local businesses and individuals. However, as outlined in the report to the Shareholders, the club requires in the region of £1.4 million to £1.6 million to survive until the end of the 2024/25 season and has been unable to secure further investment. Of those funds, an amount of £200,000 is required immediately to meet the cash requirements of the Club for the current month of October and will need to be raised no later than Wednesday 16th October 2024.

The Club really appreciates the support it has had from fans over the years and recognises that it forms an important part of community life for many.

We would be grateful for any donations, large or small, in an attempt to save the Club.

I’ve not bothered - surely be money down the tubes.

https://www.gofundme.com/f/inverness-caledonian-thistle-fc

[Donegal Hibby]

Big Dunc working for free….

https://www.rte.ie/sport/soccer/2024/1003/1473468-ferguson-working-for-free-at-crisis-club-inverness/

[tamig]

Interesting article - from 2019. Not a new thing.
Why was Gardiner allowed to continue as CEO for so long?

https://www.blackandwhitearmy.com/forums/index.php?/topic/50121-inverness-caley-thistle-in-financial-trouble/

[we are hibs]

https://youtu.be/MFKsWRHlyRQ?si=CqS9JaHVf0aJ212Q


One of the funniest non Hibs games I've ever watched. Watched it with a couple jambos too and they were raging with Gary Locke [emoji23]

Sent from my SM-A405FN using Tapatalk

[Pretty Boy]

The whole formation of the club meant they were never going to grow the support base they needed to be a long term project.

In recent time they seemed to be playing at being a big club whilst being run by Del Boy Trotter Esq. I remember Scot Gardiner on the radio arguing against earlier kick offs to save power during the energy cost crisis because 'we take the players to a hotel an 80 mile round trip from Inverness to eat before games and how can we do that if we kick off at midday'. Err maybe try not doing that. That just seems an unnecessary cost for a club of their size and at their level. As a stand alone it probably isn't catastrophic but people making bizarre decisions like that probably make a whole host of other bad business decisions as well.

[Billy Whizz]

I think this money problem would have surfaced over a year or so ago. They got to the Scottish Cup final
v Celtic, and the money probably saved their club back then

[tamig]

The whole formation of the club meant they were never going to grow the support base they needed to be a long term project.

In recent time they seemed to be playing at being a big club whilst being run by Del Boy Trotter Esq. I remember Scot Gardiner on the radio arguing against earlier kick offs to save power during the energy cost crisis because 'we take the players to a hotel an 80 mile round trip from Inverness to eat before games and how can we do that if we kick off at midday'. Err maybe try not doing that. That just seems an unnecessary cost for a club of their size and at their level. As a stand alone it probably isn't catastrophic but people making bizarre decisions like that probably make a whole host of other bad business decisions as well.

It you read that message board thread I posted a couple above, thats exactly what these guys are saying. Basically, “why not live within your means” like most other clubs need to do. Gardiner has been a disaster for them. Numerous failed projects - including trying to hold gigs at that stadium during summers. No real planning - like the missing seats and open air press box at Tynecastle.

[tamig]

I think this money problem would have surfaced over a year or so ago. They got to the Scottish Cup final
v Celtic, and the money probably saved their club back then

They were losing over £800k a year five years ago. Goes way beyond last year.

[NAE NOOKIE]

I really did have high hopes for ICT .... But wow, if you ever needed proof you can't merge two rival clubs they are it, who would have thought the Highland league had a rivalry so hate filled it would put River and Boca to shame :greengrin I would probably be the first one to put my hand in my pocket to help save a club for it's fans .... but if you ask me this one is beyond saving when the town it plays in and surrounding area has conclusively proved it has no intention of ever giving it any meaningful support.

IMO the best thing to do is for Inverness Caledonian and Inverness Thistle to have a conscious uncoupling, sell off or free every single player on their books and reapply to join the Highland League. They could still share that horrible little ground and rip each other to bits every time they meet ... blaming each other for ICT crashing and burning would add fuel to the rivalry .. hell, even in the Highland league it could become a bucket list derby. Besides, with the pyramid system they would both still have a pathway back to the top leagues, if they wanted.

[Liberal Hibby]

I really did have high hopes for ICT .... But wow, if you ever needed proof you can't merge two rival clubs they are it, who would have thought the Highland league had a rivalry so hate filled it would put River and Boca to shame :greengrin I would probably be the first one to put my hand in my pocket to help save a club for it's fans .... but if you ask me this one is beyond saving when the town it plays in and surrounding area has conclusively proved it has no intention of ever giving it any meaningful support.

IMO the best thing to do is for Inverness Caledonian and Inverness Thistle to have a conscious uncoupling, sell off or free every single player on their books and reapply to join the Highland League. They could still share that horrible little ground and rip each other to bits every time they meet ... blaming each other for ICT crashing and burning would add fuel to the rivalry .. hell, even in the Highland league it could become a bucket list derby. Besides, with the pyramid system they would both still have a pathway back to the top leagues, if they wanted.

:top marks

[Glory Lurker]

I really did have high hopes for ICT .... But wow, if you ever needed proof you can't merge two rival clubs they are it, who would have thought the Highland league had a rivalry so hate filled it would put River and Boca to shame :greengrin I would probably be the first one to put my hand in my pocket to help save a club for it's fans .... but if you ask me this one is beyond saving when the town it plays in and surrounding area has conclusively proved it has no intention of ever giving it any meaningful support.

IMO the best thing to do is for Inverness Caledonian and Inverness Thistle to have a conscious uncoupling, sell off or free every single player on their books and reapply to join the Highland League. They could still share that horrible little ground and rip each other to bits every time they meet ... blaming each other for ICT crashing and burning would add fuel to the rivalry .. hell, even in the Highland league it could become a bucket list derby. Besides, with the pyramid system they would both still have a pathway back to the top leagues, if they wanted.

Genuine question - would they be able to pop straight back into the HL? It's got feeders below it. I imagine the HL would be desperate to get them in, for all the reasons you've said but it might be a test for "sporting integrity"?
No, I'm not a Clach fan!

[Dashing Bob S]

Interesting that the solution to growing a club in what is a huge catchment area in Scottish terms - a city that doubled in population in fifteen years - is now seen as doing it organically, eg: allowing Caley, Thistle or Clach to gain a natural ascendancy, rather than merge clubs together. Few football fans in the city I know had much empathy for ICT as a club. I doubt top flight Scottish football is dead in the city, but it definitely seems set for a some sort of hiatus until they can sort this out.

[NAE NOOKIE]

Genuine question - would they be able to pop straight back into the HL? It's got feeders below it. I imagine the HL would be desperate to get them in, for all the reasons you've said but it might be a test for "sporting integrity"?
No, I'm not a Clach fan!

It's a good question. The HL currently has 18 clubs so I suppose they could increase it to 20, but whether the other clubs, who are all either part time or borderline amateur, would look kindly on having another 4 fixtures loaded onto the 34 they already play is probably open to question.
Not to mention the competition from two potentially powerful clubs in HL terms, hardly welcome to existing clubs with ambition to make the SPFL. The other factor is Clachnacuddin, I would imagine they possibly hoovered up fans of both clubs who weren't happy at the merger and wouldn't be too happy to see them suddenly have clubs to return to.

Ross County might be a factor as well, there is a theory that they also benefitted from disenchanted Caledonian and Thistle fans and they might be shaky about these folk having their original clubs back .... ok might be as few as a hundred, but when your average turnout of home fans is only about 2,500 to 3000 a hundred is a lot.

If Caledonian and Thistle do uncouple it could be an interesting watch :greengrin

[SHODAN]

ICT should de-merge, would love to eventually see a proper city derby.

[Pedantic_Hibee]

Can’t Hearts bail them out? They were bumming them up when Covid hit were they not?

Knowing Ann Budge like I do, I’m sure the wee tartan clad chipmunk will be working tirelessly to preserve their league status.

[PHeffernan]

Go Fund Me page set up to raise capital

Following the report to Shareholders dated 1st October 2024 in which the Club laid out its current perilous financial position, which was subsequently published in the media, the Board of Directors are exploring all avenues to raise funding to save the Club from entering Administration.

Since the Club was formed in 1994, it has been supported, financially, by various local businesses and individuals. However, as outlined in the report to the Shareholders, the club requires in the region of £1.4 million to £1.6 million to survive until the end of the 2024/25 season and has been unable to secure further investment. Of those funds, an amount of £200,000 is required immediately to meet the cash requirements of the Club for the current month of October and will need to be raised no later than Wednesday 16th October 2024.

The Club really appreciates the support it has had from fans over the years and recognises that it forms an important part of community life for many.

We would be grateful for any donations, large or small, in an attempt to save the Club.

I’ve not bothered - surely be money down the tubes.

https://www.gofundme.com/f/inverness-caledonian-thistle-fc

Almost 30k raised in less than 24 hours.
Problem is that is the low hanging fruit. They still need to raise 14k every day to meet their target by the 16th ... and that is probably just to buy them until late November to at least find investment of a similar amount.

The former chairman Alan Savage has gone in and is putting up a great fight as well as a big chunk of his own money.
A real shame he couldn't have been brought in 18 months ago before the situation was as dire as it is now and he would have had the boost of the Scottish Cup money to buy him time to sort things out. As it is that money and more has been burn't.

[hibsforeurope]

That's a tough ask to raise around 1.5M to see out the season.

They would almost be better to take a leaf out of Hearts, Motherwell, Dundee, etc's books and enter admin to wipe out the debt and use the money raised to start again.

[He's here!]

I really did have high hopes for ICT .... But wow, if you ever needed proof you can't merge two rival clubs they are it, who would have thought the Highland league had a rivalry so hate filled it would put River and Boca to shame :greengrin I would probably be the first one to put my hand in my pocket to help save a club for it's fans .... but if you ask me this one is beyond saving when the town it plays in and surrounding area has conclusively proved it has no intention of ever giving it any meaningful support.

IMO the best thing to do is for Inverness Caledonian and Inverness Thistle to have a conscious uncoupling, sell off or free every single player on their books and reapply to join the Highland League. They could still share that horrible little ground and rip each other to bits every time they meet ... blaming each other for ICT crashing and burning would add fuel to the rivalry .. hell, even in the Highland league it could become a bucket list derby. Besides, with the pyramid system they would both still have a pathway back to the top leagues, if they wanted.

Was the stadium built to house the new, merged team or was it originally the site of one of the Highland League clubs' grounds? It's a bit of an eyesore either way.

[Since452]

Karma biting the Hearts sympathisers

[He's here!]

Ross County actually show how it should be done and it is rather impressive the way they have managed to climb to the top division and manage to stay there, usually. A solid fan base as a result of nearly being a 100 year old club and that's where ICT fall down.

A "new" club that suffered from the fact that some fans of the merged club never took to the new club and outwith the OF all clubs need as many fans as possible

Livi are the other club which never feels quite right. Sure, Meadowbank/Ferranti Thistle used to only pull in a couple of hundred fans, but something just felt off about transplanting that club to Livingston. The town itself, like Inverness, should be capable of sustaining a small to medium-sized club but it should have been a club which had its roots in Livingston.

Out of interest, anyone know how AFC Wimbledon and MK Dons stack up in terms of support? Or, looking farther afield, do American baseball teams which simply up sticks and move to an entirely different part of the nation quickly build up support bases in their new locale? It's something I've never really been able to get my head around, although if memory serves me right I've read that Hibs once considered a move to Aberdeen!

[Se7enUp]

Genuine question - would they be able to pop straight back into the HL? It's got feeders below it. I imagine the HL would be desperate to get them in, for all the reasons you've said but it might be a test for "sporting integrity"?
No, I'm not a Clach fan!

Sporting integrity in Scotland? Doesn't go far. See the The Rangers and Hearts.

[Sergio sledge]

I really did have high hopes for ICT .... But wow, if you ever needed proof you can't merge two rival clubs they are it, who would have thought the Highland league had a rivalry so hate filled it would put River and Boca to shame :greengrin I would probably be the first one to put my hand in my pocket to help save a club for it's fans .... but if you ask me this one is beyond saving when the town it plays in and surrounding area has conclusively proved it has no intention of ever giving it any meaningful support.

IMO the best thing to do is for Inverness Caledonian and Inverness Thistle to have a conscious uncoupling, sell off or free every single player on their books and reapply to join the Highland League. They could still share that horrible little ground and rip each other to bits every time they meet ... blaming each other for ICT crashing and burning would add fuel to the rivalry .. hell, even in the Highland league it could become a bucket list derby. Besides, with the pyramid system they would both still have a pathway back to the top leagues, if they wanted.

I have some sympathy with this view, and it would certainly be an interesting experiment to see how a separation of merged clubs could work. Has it ever been done before? Sharing the stadium would make sense as well I suppose but I think the amount of latent support for the previous clubs is possibly over stated. It would be a few hundred at most who supported one of the original clubs but haven’t supported ICTFC. It would be fascinating to see who people ended up choosing to support.

I’m not sure I agree with the view that it has been conclusively proven that the city won’t give their support to the team, when they were in the premiership they were averaging around 4000 fans attending games which is roughly 6% of Inverness population. For comparison, Aberdeen’s average attendance seems to be around 6% - 6.5% of aberdeens population and if you add Hibs and Hearts together it’s around 6.5% of Edinburghs population in terms of average attendance. ICTFC have been dire for years and attendances have steadily declined as they would for any club, and the way the club has been run (and particularly the man who was running it) has disenfranchised many people and businesses up here.

I think there is appetite for a club like ICTFC up here, but it needs to be realistic, and realistically they are a championship club who’ll enjoy spells of success in the premiership every so often. The problem is that the people running the club have been running it like they are a premiership club and this has led to ridiculous losses.

[PHeffernan]

A Mr or Mrs Anonymous just dropped 20k on the Inverness fundraiser to bring it up to over 50k in 26 hours

[Squealing pig]

A Mr or Mrs Anonymous just dropped 20k on the Inverness fundraiser to bring it to over 50k in 26 hours

Big dunc or Terry butcher 😂

[PHeffernan]

Big dunc or Terry butcher ��

Big D now dropping big bucks on them every week although he could achieve the same by leaving.
Was thinking someone like Alex Ferguson for the 20k.

[gbhibby]

A Mr or Mrs Anonymous just dropped 20k on the Inverness fundraiser to bring it up to over 50k in 26 hours

Could be Christie at Bournemouth probably less than his weekly wage.

[eastmainsmsh]

Never nice to see but if the Huns and Gorgie Huns got away with it then surely Inverness can in some form

[PHeffernan]

[QUOTE=gbhibby;7783175]Could be Christie at Bournemouth probably less than his weekly wage.[/QUOTE

I saw someone floating his name online.

Update: Over 54k raised by 936 folk in under 30 hours which represents 27% of the target.

[Moulin Yarns]

Never nice to see but if the Huns and Gorgie Huns got away with it then surely Inverness can in some form

I can see the attraction to invest in a central belt club, struggling to see it with ICT.

[CentreLine]

I can see the attraction to invest in a central belt club, struggling to see it with ICT.

Maybe not the model that became ICT but so long as it’s a Scottish league then it must include any part of Scotland. Surely it would show an extraordinary bias if the league did not include clubs from any part of the country that has a team that qualifies. Highlands, islands, southern uplands are just as much part of Scotland as the central belt. It would be a cracking away weekend to have to go somewhere like Stornaway, Tobermory, Bowmore, etc.. No?

[Musselbound]

Was the stadium built to house the new, merged team or was it originally the site of one of the Highland League clubs' grounds? It's a bit of an eyesore either way.

The stadium was built for the newly merged team. Caledonian previously played at Telford Street, now a retail park, and Thistle in the Kingsmills area of the city. All 3 Inverness clubs in the Highland League had their own grounds but none were on the current site.

[Moulin Yarns]

Maybe not the model that became ICT but so long as it’s a Scottish league then it must include any part of Scotland. Surely it would show an extraordinary bias if the league did not include clubs from any part of the country that has a team that qualifies. Highlands, islands, southern uplands are just as much part of Scotland as the central belt. It would be a cracking away weekend to have to go somewhere like Stornaway, Tobermory, Bowmore, etc.. No?

I was referring to someone putting investment into football clubs?! I don't think ict is an attractive proposition for an American billionaire.

[Pagan Hibernia]

Go Fund Me page set up to raise capital

Following the report to Shareholders dated 1st October 2024 in which the Club laid out its current perilous financial position, which was subsequently published in the media, the Board of Directors are exploring all avenues to raise funding to save the Club from entering Administration.

Since the Club was formed in 1994, it has been supported, financially, by various local businesses and individuals. However, as outlined in the report to the Shareholders, the club requires in the region of £1.4 million to £1.6 million to survive until the end of the 2024/25 season and has been unable to secure further investment. Of those funds, an amount of £200,000 is required immediately to meet the cash requirements of the Club for the current month of October and will need to be raised no later than Wednesday 16th October 2024.

The Club really appreciates the support it has had from fans over the years and recognises that it forms an important part of community life for many.

We would be grateful for any donations, large or small, in an attempt to save the Club.

I’ve not bothered - surely be money down the tubes.

https://www.gofundme.com/f/inverness-caledonian-thistle-fc

Not looking good for them. They're not even close to halfway in their target to raise £200k by next Wednesday

[Billy Whizz]

Not looking good for them. They're not even close to halfway in their target to raise £200k by next Wednesday

I’m hoping at least some of this money goes to make sure the employees and players get their money in full

[Moulin Yarns]

I’m hoping at least some of this money goes to make sure the employees and players get their money in full

Not sure that is how it works. These are pledges to pay once the target is reached. I think.

[leith lynx]

I’m hoping at least some of this money goes to make sure the employees and players get their money in full

Is it not the case if the money target is not met then all contributions are returned?...feel for the loyal Caley supporters, but sadly it's a club not appreciated by the wider Inverness public.

[Billy Whizz]

Is it not the case if the money target is not met then all contributions are returned?...feel for the loyal Caley supporters, but sadly it's a club not appreciated by the wider Inverness public.

Sorry I’ve no idea

[04Sauzee]

Not sure that is how it works. These are pledges to pay once the target is reached. I think.

I'm sure they said If the target wasn't reached the money would help pay the costs of administration?

[CropleyWasGod]

I’m hoping at least some of this money goes to make sure the employees and players get their money in full


Not sure that is how it works. These are pledges to pay once the target is reached. I think.


Is it not the case if the money target is not met then all contributions are returned?...feel for the loyal Caley supporters, but sadly it's a club not appreciated by the wider Inverness public.


Sorry I’ve no idea


I'm sure they said If the target wasn't reached the money would help pay the costs of administration?

The money belongs to the Club, so will be part of its assets if and when an administrator is appointed.

It will be up to the administrator to decide how to deal with those assets, but the normal ranking for debts to be paid out is:-

Secured creditors (normally banks who have a fixed charge on borrowing)
The administrator
Preferred creditors (staff and HMRC)
Creditors with a floating charge
Unsecured creditors

[Pretty Boy]

Not looking good for them. They're not even close to halfway in their target to raise £200k by next Wednesday

I'm just not sure there is much emotional pull for fans of other clubs to help them out in the way there might be with others.

ICT feels a bit plastic. A club formed as part of a merger that was opposed by fans of both clubs. 3 decades later they still have no real established fanbase. If it was a club like Stenhousemuir, East Fife or Arbroath who have been around almost as long as Hibs and Hearts then I think a lot of people would be more inclined to help as there will be family legacies going back generations.

Add to that it's a crap away day. Again if it was Ross County I wonder if fans with fond memories of a pint in the Mallard and the nostalgia trip of the Wimpy would be more inclined to help. I have a real soft spot for County away, less so for the biting wind at a breeze block ground on the outskirts of the city that feels more like a services on the A9 than the home of a football club.

It's been mentioned before but I think the best outcome for them would be the reincarnation of one or both of the original clubs and an organic growth back to their place in the pecking order. With the pyramid now in place the door is open for whoever makes the best go if it. I wonder if the 'divorce' would even see bumper crowds for both clubs, at least initially.

[Pagan Hibernia]

I'm just not sure there is much emotional pull for fans of other clubs to help them out in the way there might be with others.

ICT feels a bit plastic. A club formed as part of a merger that was opposed by fans of both clubs. 3 decades later they still have no real established fanbase. If it was a club like Stenhousemuir, East Fife or Arbroath who have been around almost as long as Hibs and Hearts then I think a lot of people would be more inclined to help as there will be family legacies going back generations.

Add to that it's a crap away day. Again if it was Ross County I wonder if fans with fond memories of a pint in the Mallard and the nostalgia trip of the Wimpy would be more inclined to help. I have a real soft spot for County away, less so for the biting wind at a breeze block ground on the outskirts of the city that feels more like a services on the A9 than the home of a football club.

It's been mentioned before but I think the best outcome for them would be the reincarnation of one or both of the original clubs and an organic growth back to their place in the pecking order. With the pyramid now in place the door is open for whoever makes the best go if it. I wonder if the 'divorce' would even see bumper crowds for both clubs, at least initially.

I'm inclined to agree. If they haven't made a fist of it in terms of building a proper community club after 30 years (even winning the Scottish Cup in that time) then it's just not going to happen is it.

Shame for the fans that do follow them and of course the employees, but it looks like flogging a dead horse.

Rip it up and start again.

[Billy Whizz]

The money belongs to the Club, so will be part of its assets if and when an administrator is appointed.

It will be up to the administrator to decide how to deal with those assets, but the normal ranking for debts to be paid out is:-

Secured creditors (normally banks who have a fixed charge on borrowing)
The administrator
Preferred creditors (staff and HMRC)
Creditors with a floating charge
Unsecured creditors

Dependent on what’s left by then I presume
If they needed £200k or so, you’d have through most of that will be gobbled up soon
Think they still owe a few clubs money for loan players last season? Where do football depts fall under in claims?

[CropleyWasGod]

Dependent on what’s left by then I presume
If they needed £200k or so, you’d have through most of that will be gobbled up soon
Think they still owe a few clubs money for loan players last season? Where do football depts fall under in claims?

Legally, they are ordinary unsecured creditors, so basically with everyone else.

However, in order for the club to retain its license with the SFA, all football debts have to be paid in full. In effect, that means they rank above just about everyone.

[Nutmegged]

I'm just not sure there is much emotional pull for fans of other clubs to help them out in the way there might be with others.

ICT feels a bit plastic. A club formed as part of a merger that was opposed by fans of both clubs. 3 decades later they still have no real established fanbase. If it was a club like Stenhousemuir, East Fife or Arbroath who have been around almost as long as Hibs and Hearts then I think a lot of people would be more inclined to help as there will be family legacies going back generations.

Add to that it's a crap away day. Again if it was Ross County I wonder if fans with fond memories of a pint in the Mallard and the nostalgia trip of the Wimpy would be more inclined to help. I have a real soft spot for County away, less so for the biting wind at a breeze block ground on the outskirts of the city that feels more like a services on the A9 than the home of a football club.

It's been mentioned before but I think the best outcome for them would be the reincarnation of one or both of the original clubs and an organic growth back to their place in the pecking order. With the pyramid now in place the door is open for whoever makes the best go if it. I wonder if the 'divorce' would even see bumper crowds for both clubs, at least initially.

Reading through this I wanted to disagree with a bit of it, but I'd be wrong, the more you think about it the more right you are, IMO.

Unlike a lot of mergers, I do genuinely think ICT was created for the right reasons, Inverness needed a professional league football club and Caledonian Thistle and Inverness Thistle where never going to be that club, I could see the logic in it even if many fans on both sides vehemently opposed it.

They did absolutely everything, got accepted into the SFL, rose through all the tiers, became an established SPL club, won the Scottish Cup and qualified for Europe, in all that time their fanbase barely grew, it spiked to about 2.5k regulars in their pomp, but thats a base number they would've needed not a be all and end all, the stadium is the worst top flight one I've been to, it's always freezing, galeforce winds, damp and dark, the whole place is soulless, not Inverness itself, just the stadium, Terry Butcher tried his best, he used to go out canvassing for support, and the players training in public parks every day at least had a direct link to the place, but it just never attracted enough people.

I'm not sure what the answer is, is there enough desire for either Inverness or Cally to reincarnate? It's been over 30 years now, you'd imagine any fans they would've had would all be in their 40s now, you'd think despite their lack of fanbase, ICT would have the emotional attachment now rather than clubs who've been long gone, but that's just me thinking out loud rather than knowing anything.

I do hope they can get through this via Admin, and I suspect they could end up in League 2 if that's the case, but despite hating that away day, I do like the fact Inverness is represented in SPFL, their average attendance in League 1 is 1600+, you'd assume that means they have a base crowd of around 1500, when you look at other clubs at that level or lower, that's still a strong fanbase, the best idea for me would be for ICT to survive instead of branching it off into splinter former clubs and hoping the current fanbase would pick a side and stick with it.

[Musselbound]

I grew up watching Highland League football in the 70s and 80s. I didn't support any of the Inverness clubs but did occasionally go to all their grounds. My grandparents were from Inverness and mainly followed Caledonian's results but didn't go to games. I'm pretty sure Caledonian FC were the best supported team in Inverness, certainly in that era.

I agree with a lot of Nutmegged's points above and think it's a romantic view that fans would now come flocking back to support a reestablished inverness Caledonian or Inverness Thistle FC. It might be a bit of a novelty initially, especially for Scottish football fans in general with no attachment to the club(s).

As Nutmegged pointed out, fans of these old clubs would be 40+ and the under 40s have no memory of anything other than an ICT playing in Inverness. Therefore, breaking up the current club would perhaps cause almost as much dissent and division as it did in the 90s.

[WestStandWillie]

Not looking good is it.

They've had a mad ride though:

- Rise through the leagues
- Super Caley Go Ballistic
- Scottish Cup
- European football

It's a shame it's come to that but the fanbase numbers speak for themselves. Probably more stroll about Inverness in Rangers and Celtic tops.

[Pagan Hibernia]

On behalf of the Club, I would like to thank all those who have donated to our GoFundMe page. This morning, we were sitting at just over £80,000 which is a fantastic effort from you all. I would just like to clarify that should we go into Administration, all funds raised will be used to fund the club expenses in the Administration period and will not be expended on professional fees. There are no penalties for not reaching our target goal, and indeed the first payments have arrived at the Club over the weekend.

Scott Young
Interim Chairman

[Carheenlea]

“ Club Statement

The Board can confirm that the time for any interested parties to offer for the Club has come and gone. We are currently looking at our position and will make an announcement in the coming days.

[SteveHFC]

Confirmed they are in admin.

[wookie70]

Up there tomorrow to photograph the game. Hopefully not for the last time

[PHeffernan]

Confirmed they are in admin.

Not yet.
Likely to go into administration on Monday or Tuesday.
The club fundraiser has raised only *15 pounds in the last 8 hours so fair to say that has ground to a virtual halt after raising 43% of it's target and the club chairman has been forced to waste time today speaking to a business man who last oversaw the collapse of a non league team.
What an almighty mess.

[PHeffernan]

Not yet.
Likely to go into administration on Monday or Tuesday.
The club fundraiser has raised only *15 pounds in the last 8 hours so fair to say that has ground to a virtual halt after raising 43% of it's target and the club chairman has been forced to waste time today speaking to a business man who last oversaw the collapse of a non league team.
What an almighty mess.

* only 55 quid raised in the last 20 hours

[Since452]

Never had any time for them. Especially since their love in with Hearts. Good riddance.

[flash]

Big Dunc enhancing his already legendary status by covering the players expenses out if his own pocket.
Been doing it for months apparently.

[GreenNWhiteArmy]

Administration now confirmed

[BILLYHIBS]

-15 points

[Donegal Hibby]

Sorry for them and hope they survive 🤞

[Paulie Walnuts]

From a football point of view they’ll be able to swallow the 15 point penalty no bother imo.

[GreenNWhiteArmy]

From a football point of view they’ll be able to swallow the 15 point penalty no bother imo.

Bizarrely big dunc was saying a deduction would almost certainly mean relegation. I've no idea what their squad looks like tbf but surely have enough to stay in L1?

[Musselbound]

They were only 3 points off the bottom before the penalty and their team is likely to be further weakened by the administrators. So I have to disagree with the last couple of posts. It looks like it will be really tough for them to stay up. That said, I'm not sure Ferguson needed to make that comment.

[GreenNWhiteArmy]

They were only 3 points off the bottom before the penalty and their team is likely to be further weakened by the administrators. So I have to disagree with the last couple of posts. It looks like it will be really tough for them to stay up. That said, I'm not sure Ferguson needed to make that comment.

I probably didn't appreciate the ramifications for their squad. What happens then do the administrators effectively cancel all loans? What about contracted players?

[Waxy]

From a football point of view they’ll be able to swallow the 15 point penalty no bother imo.

Dont think so.
They’ll be going down.

[flash]

From a football point of view they’ll be able to swallow the 15 point penalty no bother imo.

Not if they lose their higher earners.

[Paulie Walnuts]

Not if they lose their higher earners.

Yeah, that would change things.

[wookie70]

From a football point of view they’ll be able to swallow the 15 point penalty no bother imo.

A few of their fans said that to me on Saturday when I was blethering pre-match. There was very little between ICT and Annan who are below them and they look nothing like a team that would overcome being 12 points behind the bottom side with the full squad they currently have. With a young squad I suspect they would finish bottom and it may not be that close

[Jock O]

I probably didn't appreciate the ramifications for their squad. What happens then do the administrators effectively cancel all loans? What about contracted players?#

I would assume all loan contracts become void post admin, and there will likely be redundancies across the board, pretty sure in other clubs that has included players. However I assume part of their remit will be to preserve some sort of going concern for a future sale, so not sure it would be as simple as all high earners out first. A lot will depend on the administrators remit.

[GreenNWhiteArmy]

Ferguson has just left his role

[Irish_Steve]

Ferguson has just left his role

Said on the radio that he's been sacked - not quite sure how you can sack someone who is working for free!

[Jones28]

Ferguson has just left his role

Dearie me, are they going to make the end of the season?

[Callum_62]

Ferguson has just left his roleCould he do a job? [emoji1]

Sent from my Pixel 7 Pro using Tapatalk

[Callum_62]

https://x.com/STVNews/status/1849112659414708551?t=L257z3bCK7V10YJpACAruw&s=19

Sent from my Pixel 7 Pro using Tapatalk

[Billy Whizz]

Said on the radio that he's been sacked - not quite sure how you can sack someone who is working for free!

Probably because they’d have to pay his full salary, and his assistants under the administrator
Brutal but probably a necessary thing to do
As someone who worked for a company who went into administration, cutting costs is a necessary evil

[wookie70]

Probably because they’d have to pay his full salary, and his assistants under the administrator
Brutal but probably a necessary thing to do
As someone who worked for a company who went into administration, cutting costs is a necessary evil Given he was happy to work for free you would think they could sack him and rehire him on a zero pay contract or minimum wage. I can't see how this will make them cheaper to run so it doesn't bode well

[HoboHarry]

Given he was happy to work for free you would think they could sack him and rehire him on a zero pay contract or minimum wage. I can't see how this will make them cheaper to run so it doesn't bode well
I'd imagine that the salary payments were deferred and whilst he was currently working for free I'd guess they were payable at some point. Others will know better than me but he'll possibly be a creditor now?

[Pretty Boy]

Given he was happy to work for free you would think they could sack him and rehire him on a zero pay contract or minimum wage. I can't see how this will make them cheaper to run so it doesn't bode well

From a cursory glance online it seems a fair few of their fans think Ferguson going increases their chances of staying up. Consensus seems to be their sqaud should have never gone down last season and Ferguson was largely culpable.

Perhaps a bit of hard nosed football decisions going on under the guise of cost cutting?

[Billy Whizz]

From a cursory glance online it seems a fair few of their fans think Ferguson going increases their chances of staying up. Consensus seems to be their sqaud should have never gone down last season and Ferguson was largely culpable.

Perhaps a bit of hard nosed football decisions going on under the guise of cost cutting?

Absolutely, they’ve just put their 1st team coach in charge and “saved” probably 3 big weekly wages

Have they made any announcement about fulfilling this weekends fixture?

[Lago]

Given he was happy to work for free you would think they could sack him and rehire him on a zero pay contract or minimum wage. I can't see how this will make them cheaper to run so it doesn't bode well
How do you run a club with no coaches ?

[wookie70]

I'd imagine that the salary payments were deferred and whilst he was currently working for free I'd guess they were payable at some point. Others will know better than me but he'll possibly be a creditor now?

That would make sense. I've watched them a few times since he was manager and they were way better under Dodds. Dodds team were nearly always the better team when I watched them but let stupid goals in, kinda made me feel at home somehow

[snedzuk]

How do you run a club with no coaches ?

Take the train.

[Allant1981]

How do you run a club with no coaches ?

One of the first team coaches is now head coach

[linlithgowhibbie]

Could he do a job? [emoji1]

Sent from my Pixel 7 Pro using Tapatalk

Aye, as a bouncer!:thumbsup:

[Itsnoteasy]

take the train.

ffs🤣

[SHODAN]

Reckon they'll cease to exist by the end of the season.

[Billy Whizz]

4 players let go. Be interesting to see if these player can join new clubs before the Jan window. If not they can’t earn any wages until then

[Just Alf]

4 players let go. Be interesting to see if these player can join new clubs before the Jan window. If not they can’t earn any wages until thenI was wondering that myself... surely in this scenario its only fair they get treated as a free agent so could sign for anyone?

That's probably too sensible mind...

[flash]

I was wondering that myself... surely in this scenario its only fair they get treated as a free agent so could sign for anyone?

That's probably too sensible mind...

Be really off if they aren't allowed to work under these circumstances.

[The Baldmans Comb]

It can only be a matter of time now before the new owners step in after paying the administrators 10p in the £ or whatever is the acceptable rate and the club starts up again debt free though relegation does seems inevitable.

It wouldn't be a huge surprise if the new owners were related to the old owners in some way or were previously involved in some capacity maybe through a failed earlier bid.

It is all just a con trick to pick up a club on the cheap as administrators are usually very weak when it comes to football and even let Livi win a cup at our expense

It's the oldest trick in the book as everyone knows no-one is going to close down a football club by selling off its only major asset which is the stadium.

Inverness will find their own level which in time will be bouncing between the 1st division and the championship hopefully under more responsible owners.

[Donegal Hibby]

https://www.inverness-courier.co.uk/news/caley-thistle-have-3-new-interested-buyers-as-500-000-alan-364582/

[ancient hibee]

It can only be a matter of time now before the new owners step in after paying the administrators 10p in the £ or whatever is the acceptable rate and the club starts up again debt free though relegation does seems inevitable.

It wouldn't be a huge surprise if the new owners were related to the old owners in some way or were previously involved in some capacity maybe through a failed earlier bid.

It is all just a con trick to pick up a club on the cheap as administrators are usually very weak when it comes to football and even let Livi win a cup at our expense

It's the oldest trick in the book as everyone knows no-one is going to close down a football club by selling off its only major asset which is the stadium.

Inverness will find their own level which in time will be bouncing between the 1st division and the championship hopefully under more responsible owners.

Can’t see the “new club” getting much credit from any business’s in Inverness. Once bitten etc.

[erin go bragh]

At Dumbarton on Sat. Defeat and they are 15 pts behind Dumbarton, so it's imperative they win and reduce the gap to 9pts
I remember our own relegation battle at the old Dumbarton stadium in the 80,s . We won 2-0 thankfully. Sure it was goals from Brian Rice and Gordon Durie.

[DaveF]

At Dumbarton on Sat. Defeat and they are 15 pts behind Dumbarton, so it's imperative they win and reduce the gap to 9pts
I remember our own relegation battle at the old Dumbarton stadium in the 80,s . We won 2-0 thankfully. Sure it was goals from Brian Rice and Gordon Durie.

1985, I thought Brian Rice scored both but as I was only 16 and probably had too many beers on the Whelehan bus, I can't really remember much of the game.

[Billy Whizz]

https://www.bbc.co.uk/news/articles/c8d4ln325q6o


No offers, must be worrying times for staff and fans

[Jones28]

That must be very worrying for their supporters. I wonder if there's any movements amongst fans to take over the club as a foundation?

[He's here!]

https://www.bbc.co.uk/news/articles/c8d4ln325q6o


No offers, must be worrying times for staff and fans

Been said before, but I'm not sure many would be too unhappy if they wound up the club and returned to the pre-merger situation in Inverness with Caley, Thistle and Clach as the three main clubs. ICT's creation was not a popular move and they've never truly felt like a club with much soul. If Dingwall can sustain a top-flight club then Inverness should be able to at least have some representation in one of the top four leagues.

[Shrekko]

1985, I thought Brian Rice scored both but as I was only 16 and probably had too many beers on the Whelehan bus, I can't really remember much of the game.

Brian Rice and Willie Irvine were the scorers 👍

[Kato]

1985, I thought Brian Rice scored both but as I was only 16 and probably had too many beers on the Whelehan bus, I can't really remember much of the game.No danger that happened on the Whelahan bus. Everybody was a goody-two-shoes on there.

Sent from my SM-A528B using Tapatalk

[NAE NOOKIE]

Been said before, but I'm not sure many would be too unhappy if they wound up the club and returned to the pre-merger situation in Inverness with Caley, Thistle and Clach as the three main clubs. ICT's creation was not a popular move and they've never truly felt like a club with much soul. If Dingwall can sustain a top-flight club then Inverness should be able to at least have some representation in one of the top four leagues.

That's how I feel about it too. At the time I felt the fact that the new club would be competing in what then was an entirely different league would help them to overcome a rivalry most folk in football would have been unaware was so bitter, I certainly was. Kind of like the people of earth putting aside their differences to fight an alien invader :greengrin

It did seem to me that the new club in short order became Inverness CALEDONIAN thistle with far more blue than red in it's strip and stadium branding. So yeh, perhaps it's time for a conscious decoupling and let the two teams rejoin the Highland league, if it will have them, to fight it out for supremacy with Clach ... in the pyramid system we have now at least one of them should eventually make the top leagues, perhaps even both, giving Scotland's top leagues another genuine city derby.

[BILLYHIBS]

Did they no win the Scottish Cup under Yogi Hughes or did I just dream that ?

Yogi was looking super fit in the Hospitality at the Celtic game btw

[DaveF]

No danger that happened on the Whelahan bus. Everybody was a goody-two-shoes on there.

Sent from my SM-A528B using Tapatalk

😂😂😂

[PHeffernan]

https://www.bbc.co.uk/news/articles/c8d4ln325q6o


No offers, must be worrying times for staff and fans

The massive loan and land ownership issues, at a club with only 2000 supporters, appear to be unresolvable.
A massive shame for Alan Savage who has put a million quid of his own money in just to get the club through the season and it could all be for nothing.
Maybe tattie bye at the end of the season despite the great efforts of all the folk currently at the club.

[SHODAN]

Time for Inverness Thistle and Caledonian to make a comeback.

[He's here!]

Did they no win the Scottish Cup under Yogi Hughes or did I just dream that ?

Yogi was looking super fit in the Hospitality at the Celtic game btw

Yep, beat Falkirk in the 2015 final, Falkirk having beaten us 1-0 in the semi despite Hibs dominating the game. Felt like another great opportunity gone, but thankfully we only had another year to wait.

[Sergio sledge]

The massive loan and land ownership issues, at a club with only 2000 supporters, appear to be unresolvable.
A massive shame for Alan Savage who has put a million quid of his own money in just to get the club through the season and it could all be for nothing.
Maybe tattie bye at the end of the season despite the great efforts of all the folk currently at the club.

There are 9 former directors who were pouring money into the club as loans to keep them afloat, to the tune of nearly £3.5m. There must be concerns over how much these guys would accept as part of a CVA and the fact that there are so many of them that the money is owed to would worry potential buyers that they wouldn't be able to get enough of them to agree to push the CVA through. They have to get the 5 biggest creditors to agree or all but 1 of them if one of the largest doesn't agree.

A couple of those directors also transferred the leasehold for the two car parks either side of the stadium to their own company when they took charge of the club in order to sub lease them to other parties and earn some money from them. The administrators are trying to see if there was any impropriety in this.

The club have over 500 shareholders, some with pretty sizeable holdings, although most are tiny. Again there's a group of larger holdings who could wield some significant power if they didn't agree to sell which could disrupt anyone's plans for the club.

The only way out of this IMHO would be for the former directors to write an agreement that they'll not vote against the CVA and agree to sell their shareholdings to the new buyers. The smaller shareholdings don't matter, but the big ones would have to agree.

[marinello59]

Time for Inverness Thistle and Caledonian to make a comeback.

It's 30 years since they were entities, it would be a long way back to the Highland League for any new club starting out with those names given that the fanbase will be significantly smaller and both would lack their own ground. No doubt somebody will revive the names if ICT folds but they would be starting out in the Sunday leagues.

[ancient hibee]

Without the 15 point deduction they would have been kicking around the top of the league all season which might have helped finances.

[worcesterhibby]

It's 30 years since they were entities, it would be a long way back to the Highland League for any new club starting out with those names given that the fanbase will be significantly smaller and both would lack their own ground. No doubt somebody will revive the names if ICT folds but they would be starting out in the Sunday leagues.

surely they could just close the club one day write off all the debts and re-open the next and play in league 2…. After all that’s what Rangers did :rolleyes: