EXPLAINED: Timeline of a dark and dramatic seven days for Inverness Caledonian Thistle as administration hits but financier Alan Savage offers hope of a new dawn
It was seven days that began with the promise of a little silver sliver of hope to split the black clouds gathering over the Caledonian Stadium.
Last-minute investment bids came to nothing, sadly, to usher in a desperately dark week in Inverness Caledonian Thistle’s turbulent and success-strewn 30-year history.
With more twists and sub-plots than a Netflix series, it became clear months of talk, acrimony and recrimination were to end in nothing more than the bleak reality of administration.
Somehow, though, from that doom-laden scenario, would come a calming ray of sunshine.
As administrators met the press, businessman Alan Savage’s benevolence and financial muscle had, it seemed, fended off the worst ills of insolvency as non-playing staff jobs were saved and only four player redundancies made.
The Orion chief, with a £500,000 pledge, was able to point to an exit plan and route to recovery as he sat alongside BDO’s James Stephen.
It was a traumatic seven days, spiked with fear, for club staff and supporters and a demanding time for our reporters who worked tirelessly to keep readers informed by the hour and minute.
Prelude to the week:
As October 17 approached, realisation dawned that a well-meaning crowdfunder launched by the club to stave off administration was destined to fall short of the required £200,000 target by more than half.
Inverness Caley Thistle fundraising target to avoid administration reaches over £80,000
But there was hope as Caley Thistle directors spoke of weighing up interest from potential investors.
Publicity on Anderson’s attempt brought face-to-face talks with the Caley Thistle board, but Cullen-based businessman David Anderson would soon draw back from a bid and administration now seemed inevitable.
Thurs, Oct 17:
Thursday’s usual press briefing heard manager Duncan Ferguson vow to battle on “to help and protect his players” the best he could, while captain Billy Mckay expressed fears that administration and job losses were inevitable.
As team-mates met PFA Scotland chief Fraser Wishart upstairs at Mckay’s request, the club record scorer acknowledged that Annan Athletic’s visit might be his and the squad’s final game for ICT.
Fri, Oct 18:
Just as Anderson’s interest appeared dead, another expression of interest - later confirmed to include him - came forward, but again it all proved in vain. That same evening, Caley Thistle announced administration was now the only game in town.
The club immediately confirmed confirm they would appoint administrators the following week.
Sat, Oct 19
Supporters, worn out, grim-faced and dejected after months of speculation, gathered in the Caledonian Stadium bar before the Annan game to be updated by club and supporters’ trust reps. A 1-0 win offers something of a morale-booster.
Sun, Oct 20:
The meeting with fans heard many opinions voiced, but significantly heard interim CEO Charlie Christie point encouragingly to Alan Savage’s imminent return to the board.
Tues, Oct 22:
Official confirmation of administration came on Tuesday with administrators arriving for initial talks, and plans put in place for a Thursday media briefing
We delved into what it might mean in reality:
Administrators expected to detail plans for Inverness Caledonian Thistle on Thursday
Wed, Oct 23:
First to go, with swathing cuts still believed to be in store, was Everton legend and former Scotland and Rangers striker Ferguson. While maligned by the fans for the style of football and rash of draws, few could question the commitment he had brought to the role.
He had also worked for free and dug into his own pockets for things like players hotel stays, breakfasts and petrol costs.
Scott Kellacher, a club stalwart and valued coach under numerous managers, was handed the team reins as head coach. He will be supported by Billy Mckay as player-coach and youth coach Ross Jack.
With administration confirmed, recriminations grew, with club appearances record-holder Ross Tokely aiming a withering attack at past CEO Scot Gardiner for his alleged part in the club’s predicament.
Thurs, Oct 24:
By Thursday, administrators were ready to speak to reporters and the instantly likeable James Stephen of BDO promised a thorough investigation into club finances that would identify any wrongdoing, if it existed.
Her also promised to balance cost-cutting obligations with the need to keep Caley jags competitive in League One and in with a chance of over-turning their 15-point deduction as punishment for insolvency.
Fears that it would be a day filled with tears, heartache and farewells for players and staff proved largely unfounded, despite five of the squad regretfully leaving. That was undeniably down to Savage’s restated commitment to
The overwhelming positive came from his mouth as he confirmed his intention to bankroll the club through the administration process and, potentially, beyond.
What will the timeline for the administration process at Caley Thistle look like?