Inverness Caley Thistle board to meet end of this week to discuss offers for club as it is threatened with administration

IINVERNESS Caledonian Thistle board members will meet to evaluate all offers it has received of investment or to purchase the club to decide what is the best way it can move forward.

Interim chairman Scott Young says officials at the club will meet towards the end of this week to evaluate all its options as it looks to secure its future as it remains on the verge of falling into administration on Wednesday.

The club wrote in a letter to shareholders two weeks ago that it needed to raise £200,000 by Wednesday, October 16 to avoid dropping into administration and becoming insolvent.

However, financial consultant Alan Savage said last week there had been expressions of interest to invest into the club, which included from parties in Denmark, United Arab Emirates and United States.

No update has been given regarding how negotiations with interested parties previously stated are progressing or if any bids have been made.

But speaking on Monday, Young said Wednesday is the cut off date for any bids to be made to the club. He said the board will then consider any offers that have been made and decide whether they would be the best way for the club to progress.

Young said: “With regard to the deadline of Wednesday - this date was put in place as the absolute deadline day for any offers of investment or offers to buy the club.

“As a board, we will convene at the end of the week and look at any offers we have received and then decide on the best way forward for the club.”

Inverness Caledonian Thistle launched a crowdfunding campaign two weeks ago aiming to raise £200,000 by Wednesday to avoid administration being implemented at the club.

Over £80,000 had been raised so far. If the crowdfunding campaign fails to reach £200,000, all donations will still go to the club to help it pay off running costs.

If administration is implemented, Inverness Caledonian Thistle would receive an immediate 15 point deduction, which would see them drop to the bottom of League One.

If it happens this week, they would fall to -6 and be 12 points behind Dumbarton in ninth place.

Inverness Caledonian Thistle organised an open meeting at the Caledonian Stadium with fans last week to hold a question and answer session to discuss the situation at the club.

Speaking on Saturday after the Trust Trophy clash with Livingston, manager Duncan Ferguson has said that players and management are awaiting to hear the outcome of talks.

He says that he wants to remain manager of the club and take charge of Inverness Caledonian Thistle’s League One clash with Annan Athletic on Saturday.

However, he says whether he or players in the squad remain at Inverness if administration is implemented is out of their hands.

He said: “I would like to be there for Saturday if I can. I would like to take the Annan game if that is possible as it is a winnable game.”

Speaking about talks of administration on Wednesday, he said: “Maybe I am looking at the worst case scenario, but this is what we are hearing.

“Administration is not good for any of us, it is -15 points.

“I believe this team is good enough to be promoted out of this division.

“But if we go into administration, most of them will go and we will be left with a young squad.

“The staff will probably go, I will probably go, it is what it is and you have to get on with it.

“You have to keep fighting until somebody tells you something else.”

He added: “If we keep our team, we can stay up no problem.

“If the administrator comes in and lets players go, it is up to somebody else to keep them up or run with them next season.”

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