Orion founder and Caley Thistle benefactor Alan Savage is ready to increase the financial lifeline he has thrown the Inverness club to £850,000 as administrators BDO plot sale
Alan Savage is ready to increase the financial lifeline he has thrown Caley Thistle to £850,000 by the close of administration.
The Orion Group founder and chief has now pledged to provide up to another £500,000 to stabilise the club as he works with administrators BDO.
The gesture almost certainly prevented job losses among non-playing staff as five player departures were announced.
It follows a previous total cash injection of around £350,000 to pay bills such as debts to other clubs and the controversial Puma kit deal signed off under the previous boardroom regime.
At the Glasgow-based firm’s request, the Caley Jags’ major shareholder also returned to the board for the first time since resigning as chairman in April 2008.
Savage, the board’s financial consultant from August as the threat of insolvency grew, will now seek to identify cost-cutting measures while driving up earnings.
Ventures being discussed include the possible introduction of a Caledonian Stadium restaurant franchise, while he is also keen to court public bodies in the quest to generate funds.
It remains clear that Savage, a Manchester United season ticket holder and passionate football fan and adopted Highlander, remains at the very least interested in taking a controlling interest in a club now effectively up for sale.
He sat side-by-side with BDO’s James Stephen as the latter addressed the media for the first time since taking control at the stadium on Tuesday.
Administration is a process with no defined timescale, but best estimates suggest it could take two to three months to investigate finances, cut a deal with creditors and find a buyer.
Asked if that buyer might be him, Savage responded: “I wouldn't rule anything out.”
Admitting wryly that he had been ordered by the administrators not to say “anything controversial” - almost certainly a reference to comments aimed previously at members of the past club regime - Savage continued: “We want to bring certainty to the club and we want to complete the fixtures for the season.
"I want to show complete commitment to drive the club forward.
"We have a good playing staff left and good stewardship.
"We can all now concentrate on football, no sideshows. I am pleased to be a part of that.
"I want to drive it forward as best I can.
“I’m just showing a complete commitment to drive the club forward under the stewardship of James.
“I’ve got to be careful what I say. Let’s look at it. I think we have a good playing staff left and a good stewardship, where we can all concentrate on football - no side schemes, no sideshows.”
Three potential investors, identity protected by non-disclosure agreements, had already come forward in the 48 hours since BDO arrived at the stadium, and Savage added: “I’m not one of the three, I can clearly say that.
“I’m here to help the club play football in the best way it can and to make sure it doesn’t run out of cash. That’s completely my mission.
“There’s two aspects. One, we can drive costs down, which is unpleasant in many ways but has to be done.
“And we can drive revenues up. In that kind of strategy, we’ll be talking to Highland Council and Highlands and Islands Enterprise (HIE).
“This is the fifth biggest city in Scotland, the capital of the Highlands and I don’t see why the council and HIE won’t come to the party and look at what they can do to support the club.
“One of the ideas is that the Highlander Suite will advertise for a restaurant chain to come in and take over that.
“We have probably some of the best views I’ve ever seen in the world.
“We will come up with interesting revenue schemes and (bring back) people who supported the club in the past, but had problems with respect to what’s gone on.
“Now these issues have cleared away, they will put their hand in their pocket.
“Everything is on the table. We are looking at ways to drive revenue into the club.
“We’re probably looking at about half a million pounds, maybe more.
“Tomatin Distillery has come to the party and one or two businesses are showing interest. There’s no longer any excuses or reasons now why people cannot invest in the club.
“It has a clean bill of health and a commitment from me that we’ll complete our fixtures this season.”
