Inverness Caledonian Thistle fail to agree deal with Moray businessman as administration looms

INVERNESS Caledonian Thistle says it has failed to agree a deal with DA Capital which could have avoided the club going into administration.

Interim chairman Scott Young confirmed on Friday that talks with Cullen businessman David Anderson of DA Capital have not been successful as the future of the club continues to remain in doubt.

It was reported yesterday that Anderson met with board members from Inverness Caledonian Thistle to hold talks about a potential investment deal to rescue the financially struggling League One outfit.

It came after it was reported on Tuesday that he had a £1.2 million offer for a 50.45 shareholding stake rejected by the club.

Now board members are set to hold a meeting to discuss what is the best way forward for Inverness Caledonian Thistle to progress.

If no deal is agreed with an investor, it is likely that it will be decided to put the League One outfit into administration.

In a statement today, Young said: “Whilst a deal was not reached, negotiations on a purchase ended amicably and DA Capital are welcome back to the table once the club’s financial situation is under control.

“The board will make a further statement in due course.”

Inverness Caledonian Thistle Supporters Trust are set to hold a fans meeting at Bar 94 at the Caledonian Stadium tomorrow at noon.

They say Young and interim chief executive officer Charlie Christie have agreed to come to the meeting and speak about the situation at the club.

Inverness Caledonian Thistle attempted to raise £200,000 in a crowdfunding scheme which it said it needed to reach by Wednesday, October 16 to avoid becoming insolvent.

Former interim chairman Panos Thomas, who resigned from his position earlier this month, wrote to shareholders that the club was facing a loss of £1.2 million in the current season.

He said in the letter that the amount of money the club required to get to the end of the season was in the region of £1.4 to £1.6 million.

As of Friday, the crowdfunding scheme had just raised over £86,000, leaving £114,000 short of what was they said was required to avoid administration this month.

Despite not reaching the target, all donations made will still go towards running the club and helping with any administration costs.

If Caley Thistle does go into administration before tomorrow’s game, it will receive an automatic 15 point deduction, which will see the club drop to the bottom of League One.

Inverness will be on -6 points and will be 12 points behind Dumbarton in ninth place with 27 games remaining to play in the regular season.

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