The future of Inverness Caledonian Thistle is at “significant risk” in the wake of no offers being made for the Scottish League 1 club.

The club’s joint administrators made the admission after potential new owners had voiced various concerns, particularly over how loans amounting to £3.5 million would be paid. There were also question marks over who owned the land around the stadium.

The deadline for bids was 6 March.

The Highland club went into administration in October after running up large debts with James Stephen, Malcolm Cohen and Shane Crooks of BDO appointed joint administrators.

Former chairman Alan Savage has provided funding to allow the club to finish the 2024-25 season, ICT currently sitting eighth in the table having been deducted 15 points – a further five-point penalty awaits at the start of the new season.

According to BDO, Mr Savage’s support since last summer to the end of the season would amount to £1m. He has also indicated he would be prepared to cover 25% of the cost of a new owner taking over, and 25% of the funding needed for the next two seasons.

The joint administrators said “a sale transaction does not appear to be achievable in the absence of new parties coming forward and the future of the club is now at significant risk.”

BDO has written to former directors asking them to write off their loans, with some agreeing and others pending.

A BDO spokesperson said: “We appreciate that this latest update will be disappointing for players, fans and the wider community.

“Given what has been achieved both on and off the pitch throughout the administration period, we would very much like to see a sale of the club to ensure that its future is secured and we would encourage all parties to cooperate in this endeavour.

“We are grateful for Alan Savage’s ongoing financial support and would urge any interested parties to come forward. The joint administrators would welcome the opportunity to discuss and provide a guide in respect of an acceptable price.”