Inverness Caley Thistle board says administration ‘likely’

Inverness Caledonian Thistle board members have warned fans the club is likely to go into administration next week.

ICT is in financial crisis and sitting second bottom of League 1.

The aim of the administrative process would be to rescue the club by finding a new buyer but Inverness risks a 15 league points deduction and potential relegation.

ICT’s board told a meeting of about 200 supporters on Monday night the club was facing a difficult future.

After the meeting, interim chairman Scott Young told BBC Scotland News: “The hope is that by doing the administrative process we can market the club for someone to come in and takeover.

“Going forward it would be a great club for someone to own.

“It’s in a fantastic city and got a great history even though we are only 30 years old.”

He said administration offered an opportunity for the club to start again and move forward.

ICT launched a Go Fund Me page last week in the hope of raising £200,000 in 14 days to avoid administration this month.

It has raised more than £70,000 so far.

Team manager Duncan Ferguson is also temporarily working for free to help ease pressures on the club’s finances.

Even if it successfully avoids going into administration this month, ICT said it would need further injections of funds to survive the rest of the season.

Losses ran to £1.2m last season and the club has forecast a similar loss this year, but warned that figure would not include money spent on restructuring following relegation.

ICT Supporters Trust has urged major shareholders and former directors to help prevent the club from going into administration.

Last week it said it was “hugely concerned” about the club’s future after previous assurances it was safe.

The club was formed in 1994 following a controversial merger of two historic Inverness Highland League clubs – Caledonian and Inverness Thistle, which were both formed in 1885.

The new club climbed through the leagues and has been managed by some famous names, including former England defender Terry Butcher, Hearts legend John Robertson and current boss Duncan Ferguson, who played for Rangers and Everton.

Inverness has enjoyed cup glory, including winning the Scottish Cup in 2015.