It's been a month since ICTFC found themselves relegated to the First Division and fans have, understandably, become a little anxious as to what the future might hold for the club and what direction the Board of Directors intend to take us in.

We got part of that answer today when the club issued the following statement on the Official Club Website which provided some assurances that work was well underway and gave a glimpse into what will be happening in the very near future.

The Statement from the club read as follows......

Caley Thistle manager Terry Butcher continues to lead squad building plans whilst attending the European under-21 championships as part of his UEFA license course. Meanwhile, intense work continues behind the scenes to reflect a support structure for SFL status while providing resources for the first team aimed at a quick return to the SPL. Following consultation some roles have had to be reduced in hours, some staff agreed to salary reductions and a limited number of posts being made redundant. Two senior members of staff were quick to assist in reducing the cost curve. Director of Football Graeme Bennett is no longer receiving a salary and the position of Chief Executive has been abolished replacing it with the title General Manager in a flatter management structure with Mike Smith continuing in that role after agreeing a salary saving. Announcing these changes, club chairman George Fraser stresses that the departure of Danny Macdonald as Head of Youth and Community will not affect our continued commitment to the development of homegrown talent. "We appreciate the staff's understanding of our new financial constraints." "Danny has chosen to leave the club and we thank him for his contribution and wish him well in his future employment", said Mr Fraser. "He has left a very good structure in place which we intend to build upon as an integral part of the club. It is more important than ever that we try and maintain the Youth and Community section to develop our own players going forward." "We are committed to being an SFA performance club at under 17 to under 11 age levels. All of the full-time staff at this age group and in these programmes will be continuing with the club except for the one member who has taken up a new post with one of our clients - a post which he had applied for prior to our relegation." "More difficult is the under 19 structure which last year cost the club £160k net of the UEFA Solidarity payment received via the SPL - that £90k+ is no longer available to the club." "Obviously this sort of money is just not available this year but we are still trying to pursue other options at under 19 level for the coming season." Mr Fraser stresses that the confidentiality of all employment discussions must be respected. "We will have a fluid situation over the next few weeks until we have fully established a revised support structure for the next 12 months", he explained today. "We were all aware we would have to restructure following relegation and we're doing so against a challenging economic environment where unemployment is unfortunately rising and all businesses are facing tough decisions. Added to that, football has its own problems with the Setanta scenario causing most clubs to be in reflective mode in relation to their financial position." "But in setting our new structure, we are mindful that people's jobs are at stake and in fairness to them confidentiality is paramount -- supporters would expect that in their own employment." The chairman added: "Both Graeme Bennett and I have spoken to Terry Butcher on where we are in the re-signing of players and the pursuit of new ones. That dialogue continues." "The club has been forced to downsize after facing a reduction in income of nearly 60%, but we are stable because we have no debt and the support of the fans, through season ticket and commercial sales, has been very positive. Once the new operational structure is in place, we will be in an improved forward trading position to allow us to focus on success in the SFL." "That's the picture and I ask the fans to remain patient and thank them for their understanding as we complete the restructuring process."