Losses at Inverness Caley Thistle in last five years total over £3 million

Inverness Caledonian Thistle have announced losses of over £3 million in the last five years as the club continue to face challenges over its finances.

Yesterday it was revealed that the club had made losses before tax of £835,751 in the 12 month period ended May 31, 2022.

It brought the total losses at the club in their last five financial statements to £3,101,921.

Inverness Caledonian Thistle were relegated from the Scottish Premiership in 2017 and have remained in the Scottish Championship since.

In their financial statement ending in May 2018 the club recorded a loss of £809,665 and year ending May 2019 recorded a heavier loss of £892,465

Losses were reduced in the following two years with £328,758 for the year ending May 2020 and £235,282 for the year ending May 2021.

But the £835,751 loss for the year ending May 2022 was a £600,000 increase compared to the previous 12 months.

In response to yesterday's figures, Inverness Caledonian Thistle chairman Ross Morrison remains confident the club faces a bright future despite recording a massive six-figure loss in the last financial year.

He says a number of factors led to finances at the club being challenging in the past year, but he says the club has a positive outlook for the future.

The club have revealed they are holding an AGM on Tuesday, March 28 where they plan to be able to include an update on the major joint projects they are working on with Intelligent Land Investments Group.

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