Manager Duncan Ferguson to work for free to help Inverness Caledonian Thistle avoid administration
MANAGER Duncan Ferguson has confirmed he has given up his wages to help Inverness Caledonian Thistle as the club continues its fight against administration.
The boss confirmed that he has decided to work for free to help the League One outfit’s financial troubles as they look to stay solvent this month.
Inverness Caledonian Thistle revealed this week they need to raise £200,000 in the next two weeks or they say administration will be inevitable.
The club have also said they need between £1.4 million and £1.6 million to continue until the end of the season.
Interim chairman Panos Thomas reached out to shareholders in a letter he sent on Wednesday, stating the club need to raise the six-figure sum by Wednesday, October 16 or the club will become insolvent.
The club have confirmed they will be holding an open meeting of shareholders, fans and stakeholders at the Caledonian Stadium on Monday, October 7 at 7.30pm.
Thomas, along with consultant Alan Savage, who was appointed to conduct a financial appraisal of the club, will be at the meeting to answer questions regarding the League One outfit’s future.
Speaking at Thursday’s press conference, Ferguson confirmed that he offered to give up his wages on Wednesday night as the club look to stay solvent.
He admitted that the club are facing a bleak situation and that he wanted to do something to help the club find a way out of trouble.
He said: “I’ve given up my wage to try and help the club. I’m now working for nothing.
“That’s by the by, it’s my own decision to try and help the club get through this.
“The players are worried. They have contracts to fall on, but it is the people around about the stadium, everyone’s jobs are on the line.
“When the players have come to me, I’ve just told them to crack on, get yourself fit, ready and motivated for Saturday.”
“I think you know since I’ve been here I’ve taken cuts and reductions. “Now, when I realise the position the club is in needing to raise £200,000, I decided I don’t need to get paid my wage.
“I’ll work for nothing for just now to try and get them through this.
“The plight of the staff was in my mind. It always is.
“I like to think I’m a caring person and I like to look after my staff and people around about me.
“At the moment, I’ll get through as best I can and try and keep putting petrol in my car and food on the table.”
In August, Ferguson confirmed he took a 40 per cent pay cut following their relegation from the Championship to League One.
Ferguson says it was his decision to give up his wages to help the club and doesn’t expect anyone else to follow what he has done.
He says he doesn’t know how long he can afford to work for free but wants to do
He said: “It was a decision I took last night when we got the message coming through about the £200,000 the club needed.
“I felt it would be appropriate for myself to offer my wage into that pot. They can look for a bit less than £200,000 now.
“That will continue. I’ll give my wage to try and help the club.
“Hopefully that helps.
“I’m not going to ask anyone else to do what I’ve done. It is everybody to their own.
I’ve done my bit and I’ll continue to do my bit for the football club.
“Everyone who knows me knows that.
““I’ll do it as long as is needed before the people at the club come up with some money to save the club.“Obviously, I can’t go without a wage forever and ever, because I need to put food on the table myself.
“But at the moment it is needs must - I’m making sacrifices.
“I think the club were happy with the decision, they obviously would be. “I just think it is the right thing to do. It’s a personal choice.
“It’s not an easy time for the club and I’ve made the decision.”
Ferguson admits that the club are facing a bleak situation at present as it tries to find new funding to keep going.
He says it is not easy to block out what is going on, but his players are determined to remain focussed.
He said: "It's not easy. We can all see this club is not in a good position.
"We need to raise a lot of money very quickly or it could be administration, so it is not easy to block that out.
"We must try to focus on the football as best we can.
"The communication has been good, although the information is not good because it is looking bleak.
"We have to keep going. I have to motivate the players to win games. But behind that, there are a lot of jobs at risk.“
