Inverness Caledonian Thistle confirm losses of £892,000 at club agm
INVERNESS Caledonian Thistle confirmed that it recorded a loss of £892,000 up to May this year.
Shareholders received information of the club's financial situation at the agm which took place at the Caledonian Stadium on Thursday night.
The figure was £20,000 more than was projected at the club's egm held in October.
Last month, the club announced they were attempting to find £500,000 to solve a cash flow problem and revealed they have raised £320,000.
Club chairman Ross Morrison said the club are holding discussions on finding the remaining money.
"Of the funds required up to this point in the season we've managed to raise 70 per cent," he said
"There are a number of parties who indicated their willingness to put money in the pot."
Morrison also said the club would continue to prioritise its extensive football and community outreach programmes, including its youth academy.
But he said they would be looking for support of outside investment.
"While these initiatives are particularly desirable to underwrite the sustainable future of the club, both of these activities incur significant costs to Caley Thistle.
I have made no secret that we are going to be pushed severely to continue without external investment to help cover the significant six figure costs of our inclusion in the Club Academy Scotland Project.
"I will shortly be going to the market again in a bid to raise the funds required to keep this going.
"We will be issuing a sponsorship document to various businesses to see if they will sponsor either the whole academy or, if this can't be found various sponsors to back individual teams or age groups."
