Directors have to take responsibility for not taking control of financial situation at Inverness Caledonian Thistle
Graeme Bennett says directors at Inverness Caledonian Thistle have to take responsibility for not having enough control of the financial situation which has seen the club get to the brink of administration.
Bennett, who rejoined Inverness Caledonian Thistle as a director two years ago, says directors should have checked more what was going on with finances at the club.
But he also said the decision by Highland Council to u-turn on approval on its battery farm application ‘sucked the life out of the club’ saying they did rely on Caley Thistle’s future business on its approval.
He said when the club was given planning permission for the battery farm on February 7, they had started building the business around the decision which would have been worth an estimated £3.4 million to the club.
But four days later, Highland Council u-turned on the decision after an appeal from South Planning Applications Committee chairman Thomas MacLennan and vice-chairman Paul Oldham. They said only five councillors voting on the decision was not enough and the matter should be recalled and taken to full council.
At a full Highland Council meeting in March, councillors rejected the application by 30 votes to 23.
The application is now being appealed with the Scottish Government, but a decision is not expected to be made until at least Tuesday, November 26.
Bennett said: “I can only comment in the last 20 months it wasn’t checked enough, we have to be responsible as the club was run by the chairman and chief executive.
“At the end of 2022 I met with the chairman and I gave a £50,000 cheque on the basis that we were going to have the battery farm agreed.
“To be fair I met ILI and they said it was a no brainer as we had everything. I looked back at February 8 that the club had £3 million.
“And did we build our business on that? We did. Were the directors naive? We were.
“I thought as a banker we were getting that battery farm, hopefully one day that will still provide.
“On February 8 we were granted permission, we had £3 million in the bank that day, we had great plans for the club.
“Four days later, we hear there are two councillors who appealed the decision as they only had five people at that meeting.
“Why did they not stall that meeting and say that is not a good look for Inverness?
“They went ahead 3-2 for the battery farm, it sucked the life out of the club four days later when we lost all that money.
“But we didn’t have enough control and as directors we have to take some responsibility and we are now.”