Inverness Caledonian Thistle could go into administration today

Inverness Caledonian Thistle could be on the verge of declaring administration today as it has failed to meet its £200,000 fundraising target.

Its crowdfunding campaign where it attempted to raise the six-figure sum by Wednesday, October 16 (today) has only raised around £84,000.

Inverness Caledonian Thistle wrote in a letter to shareholders two weeks ago that it needed to raise £200,000 by today to pay for its running costs for October or that it would become insolvent.

However, it has not been made clear if the crowdfuding campaign is being solely relied on to raise the required money.

Interim chairman Scott Young said earlier this week that today was the deadline that it would accept bids for Caley Thistle. He said the board would review all bids in a meeting due to be held at the end of the week where they would discuss the best way forward for the club.

The Inverness Courier reported on Tuesday that a Highland businessman, who wished to remain anonymous, claimed he had a £1.2 million bid for 50.45 per cent of the shares rejected by the club in a meeting which took place yesterday.

Despite the rejection, he said that he was still interested in investing into the club. Inverness Caledonian Thistle have not responded to those claims.

If administration is declared, Inverness Caledonian Thistle will receive a 15 point deduction which will see them drop to the bottom of League One. They will be on -6, 12 points behind Dumbarton in ninth place.

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