Inverness Caley Thistle administrators file report to Companies House revealing who the football club owe money to – and how much each party is owed
Inverness Caledonian Thistle’s administrators BDO have submitted a statement of affairs to Companies House, laying out the work they have done so far and what next steps could look like.
In it, they have also released a full list of who Caley Thistle owe money to, along with the amounts to each party.
The Caley Jags officially entered administration on October 22 after years of heavy financial losses.
A tumultuous summer eventually saw former chairman Alan Savage step in to try and steady the ship, but he would eventually recommend to the board of directors that administration was the most practical way forward.
BDO still hope to find a buyer for the club, saying there have been 21 expressions of interest in the filed report and say they anticipate initial offers being made shortly with a view to completing the sale process in 2025.
Even if a buyer cannot be found, they are optimistic that ICT will be able to exit administration via a compulsory voluntary agreement, which would ensure the club could survive in one form or another going forward.
However, it has also been confirmed that there are more than 140 creditors including the seven players and coaches who were made redundant, totaling over £3.8 million.
Perhaps unsurprisingly, 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.
Former chairman David Sutherland is owed £252,500, Liam Dalgarno is listed as being owed £100,000, while Graeme Bennett is on the list for £80,000.
Former chief executive officer Scot Gardiner is noted as being owed £70,000.
Other individuals listed as being owed significant sums are John Gibson at £100,000 and Roddy Ross as £80,000.
HMRC are another of the major creditors, being owed £149,538.
There are also other football clubs on the list, with Dundee being owed £3982.60, Manchester United being owed £289.57, Highland neighbours Ross County being owed £2147.65 and Everton being owed £18,340.26 – plus another £700 being owed to the Scottish Football Association.
Inverness businesses were also listed in the report. A9 Accountancy are owed £8148, Cafe V8 are owed £5150, D&E Coaches are owed £2640, Highland Heating Management are owed £4470.61, IRN Security are owed £579 and James Dow Office Supplies are owed £518.15.
The list goes on, as MacGregor Industrial Supplies are owed £692.39, McBride Signs & Engraving Services are owed £166.32, Ness Castle Lodges are owed £4400, Norscott Vending Dervices are owed £117.26, Physio Inverness are owed £1322.50, Scotbake are owed £7329.20, Simpson Highview are owed £320, The Sign Centre are owed £2512.68 and Red Poppy are owed a whopping £26,312.24.
High Life Highland are also owed £5356, Inverness Chamber of Commerce are owed £648 and Highland Council are owed £94.92.
At the other end of the scale, some companies are owed miniscule amounts. Communications company O2, for example, are owed £1.64.
It has also been confirmed that the process of administration has so far cost £252.015, with that number only increasing the longer Caley Thistle stay under the control of BDO.
The full list of creditors can be found here.
