Inverness Caley Thistle - Rejected multi million projects, relegation, administration and points deduction - We look back on how 2024 became the worst year in the club’s history
It was a year nobody thought would actually happen, but every fan will never forget.
After relegation from the Championship to League One, Inverness Caledonian Thistle would go bust and were forced to go into administration.
We take a look back at where it all went wrong for Caley Thistle in 2024.
February 7
Inverness Caledonian Thistle receive approval for battery farm
The deal, which at the time was estimated to be worth £3.4 million, was said to be vital in securing the future of the football club.
It was claimed if given the go-ahead, the development could power every Highland home for at least two hours saving 20,000 tons of carbon.
The application was given the green light by the South Planning Applications Committee, but only five councillors took part in the vote, who passed it by three votes to two.
February 13
Highland Council U-Turns on approval decision as application goes to full council.
Inverness Caledonian Thistle said South Planning Application Committee chairman Thomas Maclennan and Paul Oldham emailed all members about the decision. They claimed it said, “not enough Councillors from Inverness voting on the application meant it was ‘a bad look for the council’ which is entirely inappropriate.”
As a result, the original decision was revoked and the application was set to be reviewed at a full council meeting in March.
March 14
Highland Council rejects Caley Thistle Battery Farm application. Club’s future said to be in doubt.
A total of 30 councillors voted for refusal, 23 voted to support the plan and three abstained.
The extensive two hour debate centred largely on the safety of the development and the lack of guidance afforded planning bodies in Scotland.
Former Caley Thistle chairman Ross Morrison blasted the decision as mystifying.
April 8
Chairman announces Inverness Caledonian Thistle will have to restructure its finances in June.
The first public declaration of change was required in how Inverness Caledonian Thistle operated was made in April.
He confirmed as part of the club’s new budget which was to start on June 1, it would be looking at how the club could operate in the future.
He said they would look at all aspects of the club, including its youth academy, as part of the restructuring process. He said they were also looking at bringing in new investment to ensure that it was able to continue as a full time club.
He also confirmed that the club would appeal the Battery Farm decision with the Scottish Government. But they also rejected the application in November.
May 18
Inverness Caledonian Thistle relegated to League One after play-off final defeat
After finishing in ninth place in the Championship, Inverness scraped through to the play-off semi final with a 1-0 aggregate win over Montrose.
But in the play-off final, Inverness lost 5-3 on aggregate, losing the first leg 2-1 in Hamilton and 3-2 at the Caledonian Stadium which relegated them to League One.
May 24
Inverness Caledonian Thistle announce partnership with Kelty Hearts that will see club move first team training to Fife
The club confirmed a partnership with fellow League One club Kelty Hearts that would see them move their training base to New Central Park in Fife.
Caley Thistle highlighted the difficulty in convincing players to move to the Highlands as a main reason for the move. They said it would allow players to remain closer to their families in the central belt while playing for Inverness.
But the decision was met with uproar from Caley Thistle fans. Inverness Caledonian Thistle Supporters Trust arranged an emergency public meeting at the Inverness Caledonian Thistle Social Club. Trust spokesman George Moodie said the announcement was met by “Anger, disbelief and a sense of betrayal,” from fans.
A petition was launched which was signed by 2200 people.
June 3
Norwegian renewables giant Statkraft walks away from deal worth £1.4m-£1.7m to the club
Statkraft bought out what was the Red John hydro scheme on Loch Ness from Intelligent Land Investments (ILI), renaming it Loch na Cathrach, which included an option for a park-and-ride for works traffic to meet a planning condition.
But the Norwegian company said it had “been unable to reach a commercial agreement with Inverness Caledonian Thistle” and “intend to seek an alternative location for our park and ride scheme in Inverness”.
Soon after the announcement, Caley Thistle said they were seeking new investment – and potentially new owners.
June 3
Inverness Caley Thistle confirm controversial plan to move first team training to Kelty has been scrapped
Inverness Caledonian Thistle confirmed their plan to relocate first team training to Kelty was off.
The plan to relocate to New Central Park was scrapped just 15 days after it was announced
Director Graeme Bennett made an official apology to the club’s supporters over the plans.
He said the fans got their wish and asked for their commitment to the club.
June 3
Ross Morrison resigns as chairman of Inverness Caledonian Thistle.
He believed that the move was the best way forward for the club and he had to stick with his beliefs. He confirmed the move being scrapped was the reason he stood down.
June 6
Scot Gardiner resigns as chief executive of Inverness Caledonian Thistle. But works his notice.
Director Graeme Bennett confirmed that Gardiner was leaving, but would be doing everything he could for the club while he remained in the position.
Bennett said the chief executive had been under considerable “grief and stress” while calling on those involved with the club “to stick together and find a way out of this – everybody has to pull together for the sake of the club.”
June 11
Out of contract players leave club after receiving no contact from Inverness Caledonian Thistle.
As a result, players decided to leave with the likes of Aaron Doran, Wallace Duffy and and Mark Ridgers speaking out and criticising the lack of communication.
Ridgers says he was left hurt and frustrated by a complete lack of communication from Inverness Caledonian Thistle.
July 3
Inverness Caledonian Thistle report loss of over £588,000 in last financial year
The League One club finally published its accounts for the year ending May 30, 2023 on Companies House, one month overdue, where it confirmed it has made a six-figure loss.
But the club says it was in discussions with interested parties to attract new investment to ensure it is financially sustainable in the future.
July 26
Inverness Caledonian Thistle confirm deal with Seven7 Ventures to secure future of the club
Seventy7 Ventures, a UK-based sports, entertainment and leisure group, led by Ketan Makwana, agreed a deal which Inverness Caledonian Thistle were confident will secure the future of the club.
Makwana said he was pleased the deal had been agreed. He said: “We at Seventy7 are delighted to have achieved this result, we want to thank the board, chief executive and former chairman for their continuous workability and open mindedness to see our vision of the future for the football club and the community of Inverness.
“We are relishing the opportunity to drive sustainability and growth in the club and lead them to future prosperity."
August 13
Takeover by Seventy7 Ventures suspended as former chairman Alan Savage put in charge of Inverness Caledonian Thistle. Club also confirm Scot Gardiner leaves the club.
Former club chairman Alan Savage was appointed to take charge at Inverness Caledonian Thistle.
The Orion Group chairman was hired by the club’s board of directors to take charge of the League One outfit.
It was also confirmed that former Inverness Caledonian Thistle chief executive Scot Gardiner officially left the club.
Savage was appointed to carry out an internal forensic review of the club’s financial position to establish plans for its future and setting the team into a viable position for new ownership.
August 28
Inverness Caley Thistle and Alan Savage clinch deal to stave off administration and set the club on path to recovery
Caley Thistle announced a game-changing deal to secure the club’s future.
A dramatic turn of events, after an extraordinary morning press briefing from past chairman Alan Savage, saw “amicable” agreement reached over debts that had prompted calls for past directors to contribute.
In a press conference earlier in the day, Savage demanded that three past directors - David Cameron, Allan Munro and Ross Morrison - contribute to plug a £600,000 hole in finances.
Savage had also announced that the latest club accounts for 2024 would show a £1.7 million loss for the financial year - around three times last year’s deficit.
It was unclear immediately who had stepped in to resolve the issue, and what sums were involved, but a club statement read: “An amicable deal has been struck that saves club from administration.”
September 30
Leaked documents talks over potential Inverness Caledonian Thistle administration amid redundancy concerns
Internal documents seen by The Inverness Courier revealed that initial contact has been made with large accountancy firm BDO which, as well as dealing with Rangers, also were the administrators for Hearts and Dunfermline.
October 2
Inverness Caley Thistle need to raise £200,000 in two weeks to avoid administration and become insolvent
Interim chairman Panos Thomas reached out to shareholders in a letter stating the club need to raise the six-figure sum by Wednesday, October 16 or the club will become insolvent.
The club sent out a letter to shareholders detailing the financial difficulties they are facing.
October 7
Club say administration is most likely outcome at Inverness Caledonian Thistle
It was estimated that Inverness needed to find between £1.4 and £1.6 million so they can continue until the end of the season.
But the club were still hopeful of a deal saying there had been expressions of interest from Denmark, United Arab Emirates and United States about investing in the club.
October 22
Inverness Caledonian Thistle have officially been placed in administration
It was confirmed Inverness Caledonian Thistle had officially gone into administration.
James Stephen, Malcolm Cohen and Shane Crooks at BDO were appointed joint administrators of Inverness Caledonian Thistle.
As a result, Inverness Caledonian Thistle have been deducted 15 points and have dropped to the bottom of League One. They were 12 points behind Dumbarton in ninth place.
October 23
Duncan Ferguson axed as Inverness Caledonian Thistle manager
The 52-year-old confirmed that he has had his contract terminated along with his assistant manager Gary Bollan and goalkeeping coach Stuart Garden.
Ferguson’s last game in charge was the 1-0 victory over Annan Athletic where he said to the Inverness Courier afterwards he did not expect to be manager for another match.
Scott Kellacher was appointed head coach, with Billy Mckay first team coach.
October 24
Five players leave Inverness Caledonian Thistle with four made redundant and one loan deal terminated.
Adam Brooks, Cameron Ferguson, Flynn Duffy and Wallace Duffy had all been made redundant by the administrators, while the loan of goalkeeper Jack Newman from Dundee United been cancelled.
November 4
Inverness Caley Thistle attract 20 potential bidders interested in buying the financially-stricken Highland club as insolvency firm BDO updates on latest moves
It was also confirmed Alan Savage, returning to the board as director, pledged a further £500,000 to support the club through administration.
December 17
Inverness Caley Thistle administrators file report to Companies House revealing who the football club owe money to – and how much each party is owed
It was confirmed more than 140 creditors including the seven players and coaches who were made redundant, totaling over £3.8 million.
The biggest sums are owed to individuals who have largely previously held stakes in the club, with Ross Morrison listed as being owed £1,650,251, Allan Munro being owed £661,500 and David Cameron being owed £410,000.
December 23
BDO says they rejected a bid to buy the football club – but 15 parties remain interested despite complicated land situation
Joint-administrator James Stephen stated he hopes to appoint a preferred bidder next month.
He also confirmed Inverness would not exit administration next month, meaning they will be limited in what they can do in the forthcoming January transfer window.
December 23
Alan Savage reiterates call for clarity over intentions of former directors Ross Morrison and David Cameron
It was clarified that both the stadium itself and the surrounding land is owned by the Highland Council and Common Good Fund.
However, while ICT have a lease on the stadium until 2094, they are sub-letting the land around the stadium – including the club’s car parks – from the Inverness Caledonian Thistle Properties Company, owned by Morrison and Cameron, who collectively are personally owed over £2 million according to the list of creditors released by BDO.
Those two bought the land in 2023, and have control of what the future holds for it.
Savage had believed a deal had been struck regarding both the land and the debts owed to Morrison and Cameron, but he claims the pair’s position has changed since ICT entered administration.
December 30
Inverness Caledonian Thistle Properties ‘happy to speak’ to interested parties regarding land surrounding Caledonian Stadium - Texas consortium reported to be interested in land
Inverness Caledonian Thistle Properties, referred to as “PropCo” by the football club’s administrators BDO earlier this month, have a long-term lease on the land around the brick and mortar from Highland Council until 2094, including the car parks at the stadium.
It comes as a Texas consortium is believed to be interested in the land.
