Inverness Caley Thistle and Alan Savage clinch deal to stave off administration and set the Inverness club on path to recovery
Caley Thistle have ended a turbulent day with a game-changing deal to secure the club’s future.
A dramatic turn of events, after an extraordinary morning press briefing from past chairman Alan Savage, saw “amicable” agreement reached over debts that had prompted calls for past directors to contribute.
Savage, the man enlisted by the board to find a way to rescue the club and stave off administration, had earlier fronted up to the media to demand that three past directors - David Cameron, Allan Munro and Ross Morrison - contribute to plug a £600,000 hole in finances.
Savage had also announced that the latest club accounts for 2024 would show a £1.7 million loss for the financial year - around three times last year’s deficit.
It was unclear immediately who had stepped in to resolve the issue, and what sums were involved, but a club statement read: “An amicable deal has been struck that saves club from administration.
“All stakeholders should be delighted.
“Alan Savage says it’s a great result and hopefully we get another one on Saturday.
“Interim chairman Panos Thomas has also expressed his delight and is hoping, too, for a good result on Saturday.”