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Caley Thistle still need to raise £128,000 in seven days to avoid administration





Inverness Caledonian Thistle need to raise £200,000 by next Wednesday. Picture: Ken Macpherson
Inverness Caledonian Thistle need to raise £200,000 by next Wednesday. Picture: Ken Macpherson

Inverness Caledonian Thistle are battling to reach their £200,000 target to avoid administration with seven days remaining.

Their crowdfunding campaign has reached £71,997 as of Wednesday afternoon at 5pm, as it is still looking for £128,000 to cover its costs for October.

The figure has only risen by £2000 in the last 24 hours.

If it is unable to raise £200,000 by Wednesday, October 16, the club says it will be forced to become insolvent and go into administration.

The club say it is also looking to raise between £1.4 and £1.6 million to ensure it is able to continue until the end of the 2024/25 campaign.

Board members and club officials held an open meeting on Monday night when they answered questions about the club’s current financial predicament.

Interim chairman Scott Young said administration was the most likely course of action that the club would have to take next week.

However, they are hopeful that a late deal can be struck with investors who are interested in putting finance into the club which would mean it would avoid administration.

Financial consultant Alan Savage says there are interested parties in Denmark, United Arab Emirates and the United States who are considering making a bid for the club. However, there has been no update since Monday, but meetings are believed to be taking place this week.

If the club fails to raise £200,000 by next Wednesday, the amount raised would still go to the club which would be use to cover costs and wages.

Inverness Caledonian Thistle are set to return to action on Saturday at Livingston in the Trust Trophy fourth round.

If Inverness do declare administration next week, they would receive an immediate 15 point deduction, which would see them drop to bottom place in the table on -6. They would be 12 points behind Dumbarton.


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