Inverness in a desperate race to avoid liquidation as problems scare potential buyers

Inverness Caley Thistle consultant Alan Savage admits that the club faces a desperate race against time to avoid liquidation this summer.

That warning occurred after yesterday's announcement of the BDO joint administrators that the winners of the Scottish 2015 Cup had not found a buyer for the deadline of March 6.

Savage, who made an improvised press call in the Carey Thistle boardroom at 3pm, made it clear that the club could cease to exist unless the key players in the administration saga accept to unravel the problems that currently block the sale of the club.

You are trying to organize an emergency meeting of all the main shareholders before Thursday next week to eliminate a solution.

It is said that complex problems have scared interested buyers, including the loan debt of the directors that exceed the £ 3 million, the difficulty in a new owner that obtains control of the joint room through the majority participation and a tangle of confusion about the property of the land around the Caledonian stadium.

Savage, at the end of May, will have pumped in £ 1 million of its own cash to keep the club afloat since the administration attacked in October.

Inverness Caley Thistle will cease to exist at the end of the season if you can't find a buyer

The consultant Alan Savage says that he is running out of money to keep the Highlands club afloat

But he emphasized that the gloomy image he was painting was not lantern, and said: 'I need help. I'm running out of money (to support the club).

Interested parties, including an important American investor, had been discouraged by those three main conflict points.

If anyone else could be found to take control of the club, Savage made it clear that the Club's liquidation faced at the end of May when it would be forced to get away.

Admitting that he was “worried,” Savage said: “I am disappointed that no buyer appeared.” To satisfy the rules of SFA and SPFL, operate this season will cost £ 1 million.

'The administrators communicated with me, and I have offered to finance 25 percent of the purchase price and the financing requirement, but I need help in the balance of 75 percent.

“Things should quickly be done to retain soccer licenses with SFA and SPFL, and to retain the team for the next season, to maintain football and commercial impulse, and to avoid liquidation.”

Confirming that he wanted the meeting, that he is not preceded in the story of Caley Thistle, 'Before Thursday', Savage emphasized: 'We want to have everyone involved, all the great interested parties and shareholders to see if we can shake something.

'It would be criminal that the city of Inverness does not have a football club. It is unthinkable.

'I am worried (the club could cease to exist) and I have tried to help. I have tried to give space to breathe the club to try to find a buyer.

'For any reason, in a lot of noise, people did not appear. I am financing the club until the end of the season. Nothing will happen in that period.

'Keeping the team together is one of the most important things. We need to find out the way to follow and the solution.

Savage has been critical in the past of two key players, former President Ross Morrison and former director David Cameron. He has said that they previously gave verbal guarantees that they would help at the three main conflict points.

Savage added: 'Most people realize the position in which the club is and thought that people would have been very, very useful, instead of taking some of the positions they have taken.

'I can't see the reason for it, but maybe I have a different mentality for those people.

'The probability is that we will need £ 1.8 million to reach the end of next season.

The Scott Kellachar team has been in a battle of descent since the club entered administration

'That is on the basis that we stay in the League one instead of until league two. We want to keep football full.

'It would be incredulous if a city in the size of Inverness cannot support a football team. With Inverness business, Freeport, people have made a fortune of Inverness.

'I can't see why it is a problem to raise (investment). I'm not being unreasonable. The city should be able to support a football club and is disappointing if it goes to liquidation.

BDO administrators have written to several important shareholders who ask if they would be prepared to return their actions at no cost to the club or any buyer.

In a statement, BDO indicated that some of the shareholders had now agreed to return those actions.

The statement said: 'Despite a strong level of interest from several parts, the joint administrators (JA) of Inverness Caledonian Thistle FC (ICT) are disappointed when confirming that no offers were received for the club before the deadline of the 5 PM on Thursday, March 6, 2025.

'The JAS continue to work towards a resolution, which would include a transaction and CVA to allow the club to leave the administration free of historical debts and retain their status in the Scottish Professional Football League (SPFL).

“(But) a sale does not seem to be attainable in the absence of new parts that arise, and the future of the club is now at risk.”