I don’t have time to post any more than this for now but Panos Thomas has emailed shareholders with a very lengthy update where the headline looks like being confirmation that, unless £200K can be raised by October 16th, then Administration would be “inevitable” since the club would be insolvent.

Edited October 2, 20241 yr by Charles Bannerman

My original point about staying up in the division, and the significance of climbing out of the playoff/relegation zone wasn't really based on prize money or anything financial as such, but more that as a League 1 team we are (slightly) more attractive than we would be as a League 2 team.

That attractiveness also increases if any potential buyer looks at the fact that we technically started on -15 points and were still able to claw our way to safety. That shows potential. Next season, assuming a 5-point penalty instead of 15, we are effectively 10 points better off starting the season that we were this year so the potential to aim for the championship is far greater. If we can make it back to the championship, then as noted, we will play 'bigger' teams with bigger support and although the prize money is still **** compared to Premiership it is higher but, more importantly, it would be a remarkable show of resilience and potential. The last 30 years have showed we definitely have bags of potential if the management of the club can be done right ...    

 

‘To be honest, it's difficult to see why anyone would want to buy a small, lowly Scottish league club miles from most places, which can't possibly sustain itself through football income alone’

‘hasn't Savage talked about him leading a consortium being a way forward?’

Well said snorbens. Your first point is the question that we (the club and the fans), have IMO been tumbling over for the past decade or more as we try to understand the club’s true and real  position in the Scottish football whilst dealing with the expectations of the fans, City and region giving the limitations in the arena we / they operate. As has been well documented in CTO and other outlets we have insufficient fan numbers to make the football operation viable. That’s unlikely to change as simply the population in the Highlands is too small to support two teams. Throw in competition from the old firm and other more comfortable alternatives (cinema, gaming), it’s hard to see where the numbers we need would come from. 
The clubs rise and achievements over the past 30 compete admirably with other comparable provincial teams. But there has also been a slow steady decline with neglect and overspending our reach resulting in where we currently are. 

As you (and others) rightly point out we need the new owners (being positive they materialise), to look at a different model for financing the operations. 
 

To your point 2, Alan Savage has no question about it, saved the club from going under IMO. I question whether ICTFC would have had any proper future if K Mahwana had succeeded in buying the club with SG still around. I do hope AS is part (steers) any consortium or group that takes over for a couple of years. He has the club at heart I’m sure and has invested heavily (1M by the time we’re out of Admin?), to let the club travel down the same error strewn road. 
It may be there will be some significant changes for the club and fans that we have to accept as part of any new regime.

Just wish him good health! 
bc 

Came across this on YouTube. If posted already somewhere on the site sorry for the duplication.

 

https://www.inverness-courier.co.uk/sport/at-least-three-parties-showing-significant-interest-in-takin-373884/

 

I can’t help noticing that David Cameron seems to be under pressure as regards some of his other business interests. For instance he is reportedly the sole director of Upland, the company involved in the St Giles Centre in Elgin, and the Courier is reporting that this same company’s attempts to sell on the Ironworks have run into trouble. In the Courier report, Mr Cameron is quoted as telling the paper that this is “none of your bloody business”.

Given that Mr Cameron is also owed £410,000 by Caley Thistle and, jointly with Ross Morrison, runs the company that owns the stadium car park lease, I hope that his other difficulties aren’t going to impinge negatively upon the football club’s situation.

“Given that Mr Cameron is also owed £410,000 by Caley Thistle and, jointly with Ross Morrison, runs the company that owns the stadium car park lease, I hope that his other difficulties aren’t going to impinge negatively upon the football club’s situation”.

As sure as Night follows Day it does, Charles. I personally can’t see a viable business operation for any buyer without the acquisition of the car parks (for development - external income). Otherwise it’s just a retread of what previously went on with owner / board members bailing out the club debts. That works out well, not!
Being in Cameron’s position, I would expect him  to hold out and squeeze (D Trump like), any advantage he has to maximise the return (price) of the asset. Wouldn’t you?
 

Dragging on, isn’t it? 

bc

Edited February 14, 20251 yr by big cherly

4 hours ago, big cherly said:

“Given that Mr Cameron is also owed £410,000 by Caley Thistle and, jointly with Ross Morrison, runs the company that owns the stadium car park lease, I hope that his other difficulties aren’t going to impinge negatively upon the football club’s situation”.

As sure as Night follows Days it does, Charles. I personally can’t see a viable business operation for any buyer without the acquisition of the car parks (for development - external income). Otherwise it’s just a retread of what previously went on with owner / board members bailing out the club debts. That works out well, not!
Being in Cameron’s position, I would expect him  to hold out and squeeze (D Trump like), any advantage he has to maximise the return (price) of the asset. Wouldn’t you?
 

Dragging on, isn’t it? 

bc

When someone raised the “dragging on” issue here at the end of January, I wasn’t unduly concerned. Two weeks on and into mid-February, I’m now also saying “Dragging on, isn’t it?”, although there was the statement from Charlie Christie that there had been three or four fairly serious expressions of interest.

The accounts for 30 May 2024 are due at Companies House by 28 February 2025, Confirmation statement by 3 March 2025. I expect the Administrators to meet these deadlines. They seem to have kept a very tight lid on what is happening which is re-assuring in my mind. 

The car park situation is a growing concern and surely the stumbling block for potential buyers. Mr Cameron and Mr Morrison are going to get the best deal they can, especially after the war of words with Sir Alan Savage! 

It's been confirmed by P&J that the sale did complete and the Brick administrators are in control of the property.

They edited an existing online article rather than publish a new one saying they were wrong...I wonder why 🤔

CaleyD could you clarify?

Not sure what needs clarifying? A journalist (actually more than one it seems) phoned David Cameron and asked him if he still owned the Ironworks. He said no and was then challenged on whether that was true...he then (not so) politely told them to do one.

It's now transpired that the sale of the building had been concluded, but instead of publishing a story to say they were wrong, they've quietly updated a previous article.  They set the dogs loose on the man, fueling conspiracies and questions around how this deal might impact his dealings with ICTFC, among other things.

The right thing to do would have been to publish a new article admitting they were wrong....maybe even an apology?

Ha, press issue an apology! 

19 hours ago, CaleyD said:

Not sure what needs clarifying? A journalist (actually more than one it seems) phoned David Cameron and asked him if he still owned the Ironworks. He said no and was then challenged on whether that was true...he then (not so) politely told them to do one.

It's now transpired that the sale of the building had been concluded, but instead of publishing a story to say they were wrong, they've quietly updated a previous article.  They set the dogs loose on the man, fueling conspiracies and questions around how this deal might impact his dealings with ICTFC, among other things.

The right thing to do would have been to publish a new article admitting they were wrong....maybe even an apology?

Apologies @CELTIC1CALEY3, that opening part of my reply came across really arsey....what I meant was, is their a specific part you wanted clarified.

17 hours ago, big cherly said:

Ha, press issue an apology! 

Yeah, that was what I was getting at 😂

I will qualify it by saying that, for the most part, the local football reporters I crossed paths with were decent. It tends to be the policy of newspapers themselves and not the individuals when it comes to stuff like this.

No CaleyD that was fine.  Just hope our Administrator can pin Morrison under the Companies Acts.

Maybe, just maybe, Parang Marathe of 49ers Enterprises had his team cast there eyes over ICTFC for 5 minutes before moving on to bigger fish 🐟! 
Ah well, more modest ambitions await with the crowned new owners hopefully being announced soon. 
bc

Edited February 21, 20251 yr by big cherly

Whatever happens we are certain to come out of this Scot-free, and that is the most important thing! 😉

3 minutes ago, RednBlackComeback said:

Whatever happens we are certain to come out of this Scot-free

A bit like Ross County's first team!

https://www.dailymail.co.uk/sport/football/article-14427005/ON-ROAD-catches-famous-Christie-family-help-Caley-Thistles-fight-survival.html

23 minutes ago, CELTIC1CALEY3 said:

https://www.dailymail.co.uk/sport/football/article-14427005/ON-ROAD-catches-famous-Christie-family-help-Caley-Thistles-fight-survival.html

An excellent article from Hugh MacDonald!

is this a bit worrying…………

Inverness Caledonian Thistle, who received a 15-point deduction in Scottish League 1 earlier this season, face losing 75% of their playing squad if they fail to come out of administration by the end of the campaign. 

(apologies if posted elsewhere)

That stems from the update at the Fans Meeting where Charlie Christie indicated that we cannot extend players contracts whilst in administration and a high proportion of the squad are out of contract in June.

On the other hand, he also said that at least six of those had already advised Scott Kellacher that they wanted to stay with the club.

Scott Young also said that, based on discussions with the Administrator, he expected an update from them on the way forward in the next two to three weeks.

 

3 hours ago, Robert said:

That stems from the update at the Fans Meeting where Charlie Christie indicated that we cannot extend players contracts whilst in administration and a high proportion of the squad are out of contract in June.

On the other hand, he also said that at least six of those had already advised Scott Kellacher that they wanted to stay with the club.

Scott Young also said that, based on discussions with the Administrator, he expected an update from them on the way forward in the next two to three weeks.

 

Ok, ta. I have not read much on here while I am in cloudy Tenerife.

4 hours ago, bishbashbosh said:

is this a bit worrying…………

Inverness Caledonian Thistle, who received a 15-point deduction in Scottish League 1 earlier this season, face losing 75% of their playing squad if they fail to come out of administration by the end of the campaign. 

(apologies if posted elsewhere)

What’s the source though? I mean it could just as easily be somebody in The Mallard 😉