Caley Thistle lost out on between £4.8 million and £5.1m in potential revenue in three months after battery farm and Statkraft deals collapsed
In less than three months two massive shocks cost Inverness Caledonian Thistle between £4.8 million and £5.1 million in potential revenue, plunging the club into a financial crisis.
In mid-March, Highland Council voted against granting the club planning permission for a battery storage energy facility on the old Fairways Golf Course which was valued at £3.4 million.
Then earlier this week a deal to provide park and ride facilities for Statkraft to construct the £600 million-plus Loch na Cathrach (previously Red John) on Loch Ness fell through – that was worth between £1.4 million to £1.7 million.
Board member Graeme Bennett said he squarely blames those two events for the many of the current problems facing the Caley Jags, saying: “That sucked the lifeblood out of the club.”
Of those the refusal of Highland Council – which had previously granted permission before the issue was called in – was undoubtedly the bitterest pill to swallow and perhaps contributed to the departure of Ross Morrison as chairman.
“I have to say in February of this year we basically had £3 million in the bank,” Mr Bennett said. “Then we had a planning application for a battery farm that was approved, and then the council five days later pulled it in and took the £3 million out of our pocket.
“That sucked the blood out of the club, for me. I am very fortunate in my time that I worked with great chairmen and he is one of the best. Ross Morrison had put his heart and soul into that and his lifeblood was sucked out of him by that decision by the council.
“It is the only application, as somebody said to me the other day, that was pulled in and at the end of the day some of these councillors might have to look at themselves seriously.
“We would not be having this debate just now if that had gone through. That is one of the biggest problems we ever had. We will probably go into administration and then win the appeal.
“The loss of Ross Morrison as the chairman is a big blow to the club because his investment was second to none but as a football club that has historically over a number of years where people have put money in.
“We have been very fortunate that Inverness businessmen have put money in and it is a struggle now and we now have to look at alternative options.
“I said that at a meeting with staff, it just sucked the blood out of the club. I listened to it – I wasn’t interested in football at that time, I was more interested in the survival of the club and the battery farm.
“And it was Statkraft that tipped us over the edge when they pulled the park and ride – and they need the park and ride for their own planning application for the hydro scheme.”
