ICT financial position 'far from immediately threatening'
CALEY Thistle have denied reports they could be on the verge of financial trouble following the decision to send Rangers newco to the Third Division.
An emergency board meeting was held by the Inverness club today to discuss the impact of the decision, which chairman Kenny Cameron decribed was sad for all the country's football clubs.
It was reporting nationally today that ICT was one of several Scottish Premier League clubs who would be on the brink due to the monetary consequences of a top flight without the Glasgow side.
The Ibrox club - which replaces the liquidated Rangers who were in the SPL last season – was put in the lowest tier of Scottish league football after a vote by Scottish Football League clubs on Friday.
"We held a highly constructive board meeting today to discuss the current situation," Cameron said.
"We are one of the few clubs with no bank debt whatsoever, so our position is very far from immediately threatening, as has been alleged.
"We look forward to the new season on the back of renewed commitment over the weekend from our major shareholders and sponsors, for which we are very grateful. They fully appreciate that in May we, like other clubs, set our budget for 2012/13 and now there will be real change to the commercial curve because of events outwith our control."
The Inverness chairman voted against Rangers newco entering the SPL last week after listening the views of Caley Thistle supporters.
"It is important that our supporters keep making their contribution via season ticket sales," Cameron added.
"We took their views on board and continue to hold the position that not allowing Rangers newco into the SPL is the correct decision.
"At national level, we are optimistic that the SPL's sponsors will take due cognisance of the situation in which the SPL finds itself and will stand behind the league.
"Our club has for some time been in favour of an expanded SPL and it is clear now that the reorganisation of Scottish football has to be at the top of the agenda.
"We will be supporting such reorganisation over the coming weeks and months."
