£250,000 investment in Caley Thistle
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A £250,000 investment in Inverness Caledonian Thistle by a group of expatriate supporters has been completed.
The five-strong party — who all have homes in Inverness but are based around the world — confirmed the deal this afternoon.
The unidentified investors, known as Muirfield Mills, is now represented on the Scottish Premier League club’s board of directors by city businessman Richard Smith.
• For more details and exclusive interviews on this see Friday’s Courier.
• Below is the full statement issued by Caley Thistle on Thursday.
£250,000 cash boost for Caley Thistle
Inverness Caledonian Thistle FC and the Muirfield Mills consortium are pleased to announce that they have completed an agreement for the group of expatriate Invernessians to take a £250,000 shareholding in the club.
As part of the agreement, the ICTFC board have invited Richard Smith, the Inverness-based director of Allied Surveyors Scotland, to join the board and he has accepted.
There is no other change to the operation of the club, with the Muirfield Mills group emphasising that they are very content for Executive Chairman Kenny Cameron, the board, and the football management team of Terry Butcher and Maurice Malpas, to continue their good work.
Mr Cameron said:" We are delighted at this financial injection at an extremely challenging time economically for the game in general. But more than that, these are talented entrepreneurs who work abroad but have the best interests of Inverness Caledonian Thistle FC at heart and I am confident we will receive future benefit from their insight and international contacts. I have been very impressed during numerous meetings with them and they are of the calibre that can make a significant contribution to this club going forward.
"It is crucially important, in the continuing journey of the club, that we take full advantage of input from new people and fresh ideas on an ongoing basis. Richard Smith, who joined the Board some weeks ago is well respected in Inverness business circles and has a football background, and he has indicated his willingness to work as one of the team at boardroom level to assist us in our pursuit of long term stability and progress for the club. We will be looking to strengthen the Board in the coming months adding to the attributes of the current team"
Mr Smith, a former amateur footballer in Inverness, said: "The Muirfield Mills consortium have been very pleased with the professional and welcoming approach to their initiative, beginning under George Fraser’s chairmanship and with the offer now concluded under that of Kenny Cameron.
"These people watch Caley Thistle whenever their worldwide commitments allow and they wanted to put something back in to their home town club. It is as simple as that. They did not seek, nor wish overall control of the club, but to become significant shareholders. They will try to do what they can to help the club in the coming years.
"On a personal level, I am delighted to join the board and look forward to working under Mr Cameron and alongside my fellow directors and to make a contribution to the wellbeing of the club."
Manager Terry Butcher commented: "In the current financial climate this is a tremendous boost for us all at the club. We are really looking forward to welcoming the Muirfield Mills team on board and continuing the amazing journey that has become part of all our lives at Caley Thistle. We look on the football club as part of our extended family and it is always positive to welcome new additions."
