Home   Sport   Article

Inverness Caledonian Thistle struggling to meet £200,000 target with six days left





Inverness Caledonian Thistle need to raise £200,000 by Wednesday.
Inverness Caledonian Thistle need to raise £200,000 by Wednesday.

INVERNESS Caledonian Thistle are continuing its battle to reach £200,000 to avoid declaring administration on Wednesday.

Its crowdfunding campaign as of Thursday afternoon stands at £74,525 with it still looking for another £125,000 within the next six days.

The figure has only risen by £3000 in the past 24 hours when yesterday afternoon the total was at £71,997.

If it is unable to raise £200,000 by Wednesday, October 16, the club says it will be forced to become insolvent and go into administration.

The club say it is also looking to raise between £1.4 and £1.6 million to ensure it is able to continue until the end of the 2024/25 campaign.

If administration is implemented, Inverness Caledonian Thistle would be deducted 15 points from its current total of nine points leaving it on -4.

They would be 10 points behind Dumbarton who are in ninth place in the table.

Manager Duncan Ferguson said in Thursday’s press conference that a 15 point deduction would make it almost impossible for them to avoid relegation from League One this season.

Board members and club officials held an open meeting on Monday night when they answered questions about the club’s current financial predicament.

Interim chairman Scott Young said administration was the most likely course of action that the club would have to take next week.

However, they are hopeful that a late deal can be struck with investors who are interested in putting finance into the club which would mean it would avoid administration.

Financial consultant Alan Savage says there are interested parties in Denmark, United Arab Emirates and the United States who are considering making a bid for the club. However, there has been no update since Monday, but meetings are believed to be taking place this week.


Do you want to respond to this article? If so, click here to submit your thoughts and they may be published in print.



This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies - Learn More