Cash injection close states Caley Thistle's newest director
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THERE is only one more hurdle to be negotiated before a six-figure investment in Inverness Caley Thistle is secured, it can be revealed.
The Scottish Premier League club’s newest director, Richard Smith, says the matter must be dealt with in order to trigger investment from a group of expatriate supporters.
The five-strong party — who all have homes in Inverness but are based around the world — have come together to form an investment company called Muirfield Mills.
Mr Smith, director of Allied Surveyors Scotland, in Fairways Business Park, will be the group’s voice on the Caley Thistle board.
He replaces former club chairman George Fraser, who stood down in September when he was replaced at the helm by Kenny Cameron.
Negotiations towards securing the investment have been ongoing since last summer and has included club president David Sutherland, who was the majority shareholder as head of the Tulloch Group, reaching an agreement in relation to his company’s shares of just under 30 per cent.
The shareholding — reportedly worth up to £500,000 — has been transferred to the Inverness Caledonian Trust.
Mr Sutherland, who was willing to offload the shares for free if it meant the club’s progress could continue, retained his personal shares of less than two per cent.
> Check the Courier website later for the match report of tonight’s game between Caley Thistle and Dundee United at Tannadice.
