Potential investors wait for Caley Thistle's next move
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THE resignation of Caley Thistle chairman George Fraser was not part of a deal for a "significant shareholding" in the Scottish Premier League club, it has been revealed.
Mr Fraser announced his intentions to stand down after four years at the helm on Monday.
He hoped a deal could be finalised with a group of expatriate supporters who have expressed interest in the shares.
Negotiations are ongoing with the group, who are an investment company called Muirfield Mills.
Caley Thistle directors have yet to meet the five-strong consortium, which would make an investment in return for a seat on the board.
"Muirfield Mills recognise and fully appreciate the excellent work that George Fraser accomplished as chairman of Inverness Caledonian Thistle, under exceptionally challenging conditions," said a spokesman for the group.
"Muirfield Mills wish to make it absolutely clear that Mr Fraser’s resignation is not, was not, and never would be a precondition to the proposed investment proceeding."
Mr Fraser is expected to confirm he is stepping down as chairman at the club's annual general meeting on 22nd September, but he will retain a place on the board. It is expected his replacement will come from within the current board members.
The investors are waiting for Caley Thistle to make the next move.
"Muirfield Mills are awaiting a response from the board on the proposal submitted in late June this year, together with the outcome of the AGM, and the satisfactory completion of related due diligence paperwork," added the group's spokesman.
"Until then Muirfield Mills are unable to comment further."
> All the latest Caley Thistle news will be in Friday’s Courier.
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