Inverness Caley Thistle interim chairman Scott Young says incoming administrators estimate process could take three months
Inverness Caledonian Thistle interim chairman Scott Young says administrators have estimated the process could take at least three months.
Caley Thistle yesterday confirmed they had submitted papers to appoint administrators, which will be filed through the courts at 10am on Monday at the earliest.
That would mean administrators take control of the football club on either Monday or Tuesday, and they are expected to speak publicly for the first time on Wednesday.
Speaking at the ICT Supporters’ Trust open meeting ahead of this afternoon’s game against Annan Athletic, Young confirmed that initial discussions with the administrators had returned an estimate that the process could take around three months.
“They are estimating between 12 and 14 weeks,” Young told the crowd at Bar 94 at the Caledonian Stadium.
“They will set up something called a data room where interested parties sign an NDA and get access to the data room which has financial figures for us to try and sell the club.
“That will probably take them a couple of weeks, so I’m hoping that once they have the brochures ready people who have made enquiries already will be contacted.
“Hopefully then we wait for offers to come in. Our intention is to run the club as is. We will still be playing our games, and I made the announcement during the week that the crowdfunding is to keep the club going – for heat, electricity, buses, staff costs.
”We have to make sure we are still competitive on the pitch. I think we can still stay up, and if we stay in the division with a 15 point deduction that will be a very successful season in my opinion.”
While it remains to be seen exactly what the future will hold for the Caley Jags once administrators take control, Young was optimistic that one potential outcome would not be happening.
“Liquidation will be off the menu if I have anything to do with it,” he added.
“Looking through the past few years, we’ve had one season in the last 20 where we’ve actually made money.
“That is astounding, and most of the time we have been supported through large sums from some very generous directors.
“People criticise previous directors, and their methods may not have been right but their hearts were in the right place and they put their money where their mouth is, which is to be commended.
“We will come out of this as a better club, and one that can live within our means.”
