Caley Jags crisis

Inverness CT facing insolvency without new investors

Ross Morrison
Resignation: Ross Morrison

Crisis-hit Inverness Caledonian Thistle has announced the departure of its CEO after it revealed it could face insolvency if new investors are not found.

The revelation came after the struggling Highlanders performed a U-turn on their widely-criticised plan to move their training base nearly 150 miles to League One rivals Kelty Hearts.

Chairman Ross Morrison and chief executive Scot Gardiner have both resigned after coming under mounting pressure over the decision to locate the facility to Fife following relegation from the Championship.

The club has admitted it is now bracing itself for a nightmare scenario should the investment search fail.

Things have come to a head after a proposed Loch Ness park and ride agreement with Norwegian renewables company Statkraft at Caledonian Stadium collapsed, the five-year deal reportedly worth up to £1.7 million to the football club over five years.

A statement from the Caley Jags said: “The board of directors are in discussions with potential new investors into the club and remain hopeful of finding a new investor or new owners.

“However, in the circumstances we currently find ourselves in following the loss of the Statkraft contract at Caledonian Stadium which was worth seven figures to the club and given the new financial position of the club, it is also prudent to approach a suitably qualified insolvency practitioner to advise on how we may proceed should our efforts to find new investment fall short.

“For clarity, on the football front, we have decided to remain training at Fort George for the foreseeable future.”

One Comment to Inverness CT facing insolvency without new investors

  1. As a Inverness ct fan living in Glasgow i could not care where INVERNESS CT trained as long as we have a successful team on the football pitch and get us back into th SPL where we belong
    I do hope though we will find investor’s for this club and move forward from this nightmare we are all in Inverness CT supporters MUST STICK TOGETHER AND RAISE MONEY FOR OUR BELOVED CLUB

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