Former chairman Alan Savage put in charge of Inverness Caley Thistle as takeover by Seventy7 Ventures suspended
It has been confirmed former club chairman Alan Savage has been appointed to take charge at Inverness Caledonian Thistle.
The Orion Group chairman has been hired by the club’s board of directors to take charge of the League One outfit as it has been revealed negotiations with Seventy7 Ventures, who were believed to be close to securing a deal have been suspended.
It has also been confirmed that former Inverness Caledonian Thistle chief executive Scot Gardiner, officially left the club on Monday.
Savage has been appointed to look at how to put the club on an even financial footing and look for new investment to safeguard the club’s future.
Savage was the chairman of Inverness Caledonian Thistle when they were in the Scottish Premier League from 2006 until 2008.
A statement from Inverness Caledonian Thistle confirmed that Savage has been appointed to take charge of the club for the next three to six months to ensure it stays afloat.
It says they are in talks with interested parties to ensure its survival.
The club statement said: “After months of uncertainty surrounding the future of Inverness Caledonian Thistle Football Club, the Board of Directors have appointed local businessman Alan Savage to take charge of the struggling Highland Club to put the team in a firm financial position.
“Working alongside the Club’s Board of Directors, Savage has taken the initiative to oversee the organisational restructure of the club as they seek to remedy their financial issues, with chief executive Officer Scot Gardiner leaving his role with immediate effect.
“The club have also suspended negotiations with Seventy7 Ventures, who had been seeking to acquire a majority shareholding, with Savage beginning immediate work carrying out an internal forensic review of the club’s financial position to establish plans for the club’s future and setting the team into a viable position for new ownership.
“Savage and the Board are now looking to rejuvenate the connection between Inverness Caley Thistle and the community which will be integral to the long-term future of the club and are seeking support from local businesses to address the immediate financial shortfall until further long-term investment can be secured.
“The club are now working with Scottish sports marketing agency GRM Marketing to engage with a number of investment leads and commercially drive the club forward.
“Inverness Caley Thistle is hopeful that the community will once again rally around the team and come together to support the new foundations being established.”
