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Showing content with the highest reputation on 06/05/2024 in all areas
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Even if there isn't things couldn't ho on the way they were? This is not fans fault. The board are custodians of the club and have allowed things to get out of hand and the CEO to do what he wanted with no checks and balances.12 points
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That would be true if there was oversight on a daily basis... repeatedly we have been told (from sources) there was not. SG basically had a free run of the place. Even on the POD he was not in a position to answer direct questions about what was going on at the club on what sounds like the same night he resigned. Repeatedly, stories come out about the dictatorial style and how things are being run on a day-to-day basis at ICT. These come from staff, fans, and also businesses. Leaving aside the fact there are usually 3 sides to any story, the anecdotes are all so similar that they sound legit. Past history shows failures at other clubs long before he landed at our door. That was long before the litany of failed schemes we have listed in various places by fans. While I don't welcome administration, and all the hurdles and challenges that it would/will bring, it may mean that we go back to fiscal responsibility. Saw a couple of posts last night mentioning former chairman Dougie McGilvray. If he were interested then he has both the knowledge and past experience of navigating the club through tortuous waters. He had the plan of Premier football within 10 years of formation at ICT and that happened. Thats a real statement on getting stuff done, and was the backbone of our future success even if it did come with many challenges. Same with messrs. Savage and Sutherland. All brought something to the table in terms of business acumen, ideas, knowledge and direction. One of those back would be great. However, if all three could find some way to work together for ICT then even better ... it would be like getting an offer from all the Dragons in the Den ... with hopefully the first action to roast the CEO.8 points
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8 points
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Fans at the meeting did not WANT administration. What was being said was that the risk of administration was preferable to having the soul ripped out of the club by moving operations to Kelty.7 points
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Not sure about a popular choice. A better turn of phrase might be 'lesser of two evils'7 points
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None of this is ghe fans fault. We trusted the custodians of the club to run affairs in a prudent manner not like a drunk gambler? I agree though we will need to step up going forward as we always gave done before when asked6 points
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People know that however he is central to the reason why we are in the position we are and central to any potential new investors coming in so yes him going does change the immediate future through one form or another. If I were an investor, which I'm not although I wish I had money as I would be, I would want him out the door without his feet touching the steps before I invested even £1 in the club. At the very least I'd have him on gardening leave pending a full disciplinary into his conduct as there's more than enough incompetency to get rid of him. No one person is ever bigger than an organisation no matter how much people think they are. The man should never ever set foot inside a football club again and be allowed to carry out any business in the name of a club.6 points
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"For clarity, on the football front, we have decided to remain training at Fort George for the foreseeable future." Given the board's ability to foresee the future, that should see us safely up to tea-time today.6 points
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Do you really think they could go on running the club in this fashion for ever?The fact they delayed posting the now late accounts was a huge red flag. Long before the fans had enough. None of this mismanagement is our fault ie the fans5 points
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5 points
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Sense at last. Money is needed to stabilise for sure, but moving ahead additional revenues need to be found to prevent it happening again & again. Perhaps also some acceptance of where we are in football terms...self realisation.4 points
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Those who were protesting after the Hamilton match wanted Gardiner out. That was before his farcical plan to move training to Kelty hit the fan. Many, and perhaps the majority of fans, won't be buying a season ticket if it goes towards paying his wages. I can see another Supporters Trust survey on this one?4 points
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Absolutely no acknowledgement of the events of the last few days. Nothing about the Chairman resigning. Nothing about the laughable situation we found ourselves in with Kelty / Fife Council. Nothing about the overdue accounts. Nothing about the lack of communication. Nothing about anything really other than things are looking pretty shit right now. And no apology to supporters for any of this.4 points
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Spot on there old caley girl but I am sure they will blame us the fans for their total failure.3 points
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I was at the meeting at the Caley Club and I did state that I would prefer administration to the Kelty move. That is not the same as saying that I wanted administration, and I still stand by my point of view. I believe that the Kelty move was really only ever going to be a diversion from the poor management of the club and the financial difficulties that we are in, and would only have dragged out the inevitable downfall. It would have been absolute madness for our club to be financing Kelty Hearts while playing against them. ICT would be a laughing stock. This way we face what is coming with dignity while we hope for a last minute miracle solution. What is Russell Crowe doing with all his money? Would he fancy becoming a director at his 'local' club?3 points
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It’s going to take a lot more than season ticket sales and a few shirts to plug the gap. Assuming ICT come through this, there needs to be a concerted effort to radically rethink how the club is financed. The existing business model does not sustain full time senior football in Inverness. To set up in the same way would be pointless.3 points
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Obviously it is good news that the Kelty move is off. Other than that, it is a pathetic statement. My take is that there will be negotiations going on about a number of separate issues and that there is little more detail they can really say just now. They should, however, have officially apologised and noted Ross Morrison's departure. They should have thanked him for his contribution to the club. They are, after all, collectively responsible for supporting the decisions which have resulted in Morrison's resignation. Whilst the Kelty move may be off, that does not mean there aren't some contractual obligations linked to that absurd deal. Kelty may be demanding payment whilst the club will be arguing that the deal is null and void because Kelty failed inform to Fife Council. There will be negotiations around the failure of the car parking contract. This might well involve our main sponsors, ILI, who the club might perceive to be at fault for not including that contract as an integral part of the Red John sale. The club will not be wanting to lose its main sponsor too. There will be negotiations around the CEO's position. His position is surely not tenable any longer, but he will not give up without trying to squeeze as much out of the club as he can. Other issues need urgent attention, such as ensuring the 2022/3 accounts are submitted to Companies House and ensuring the planning application appeal is submitted. Then there are the discussions with potential investors. Potential investors will be wanting clarity on all of these issues even if they are not all fully resolved. They will certainly be wanting Gardiner out of the door.3 points
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I think some people have thought that going into administration is just a car-wash way to write off debts and emerge shiny and new. It is very far from that. We would have points deductions for the next two seasons. There would be issues with getting an SFA license. Would we be able to submit our accounts, which we are also required to do to get a license to play in the SPFL. It's a desperate statement to be honest. It mentions that we are either looking for investors or owners - the club isn't owned by any one person to sell, if someone wants to own it they need to buy the holdings of several different people at once. What would investors be funding? Are they just pouring money into the money hole? We are repeatedly told that there are other people involved with the club who would be interested were it not for the financial obligations to creditors, ie Ross Morrison. Are these guys going to step up or not? People saying stuff like "we need Gardiner gone" etc. Gardiner going doesn't change the circumstances of the club in the immediate future.3 points
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Obviously I wasn't at the meeting, but from reading the reports it certainly seemed popular and the preferred option over training being moved. Personally I would certainly prefer the club training in Fife over the club ceasing to exist. Either way, looks like Admin is where we are heading. I just hope we have a club to continue to support once it is done.3 points
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I guess all those who attended the Supporters Trust meeting are going to get what they want. I just hope there is a club to support on the other side of this.3 points
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3 points
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If there ever was a time for fan investment, it would be under a new and trusted Chairperson following a clear out of the duds on the board. Perhaps that’s not far away at all. I wonder what a fan investment offer would look like? How much is needed to buy another year of solvency? Who communicates what’s needed? I commend the ST for the lobbying work that has no doubt contributed to meaningful change so far. I hope the ST are strongly involved going forward whatever happens. In the midst of chaos, there is also opportunity!3 points
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2 points
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2 points
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I guess that whichever way this goes we get a reset. If a buyer comes in, I'm guessing they'll have to be in a position to inject sums (whether loans or otherwise) to clear existing debts, or do a deal to reduce them. If those debts are owed to existing shareholders, then presumably they'd be better off getting something towards them rather than nothing if the company went into administration? So they shouldn't be too difficult?!! If it's administration and we drop a league or whatever, we get going again from a manageable base, and with the whole community re-engaged. Back to basics. Get Spider in and develop the great players on our doorstep.2 points
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From what my source is telling me administration is almost a given now and the announcement is imminent by all accounts. I still find it astonishing from what I can see anyway is that large number of fans who seem to welcome going down this route. If we enter administration we will be hit with a points deduction at best for two years but also demoted to Division2. At worst we could be applying for the Highland league or if that failed the North Caledonian League. The silence from the so called guardians tells its own story. Im not convinced there is a future for ICT under the present guise. This may well be a turning point in Inverness Football history it’s maybe a tad late to build that Hotel and petrol pumps down the Longman with Fiona Larg Dougal2 points
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I think there is a lot more to it than simply allowing a cash injection into the club. If the 3 of them could afford the £250k to buy the Battery company, they could simply have put the money directly into the club instead. That way, the club would still have the battery company and any potential benefits it might subsequently bring. These benefits could be significant if the planning appeal is successful and a buyer can be found to build and operate the storage system. The company could also have been sold to a 3rd party prior to the result of the planning appeal. However, the club is at risk of administration. Taking the Battery company out of the club therefore means that if we do go into administration, the administrators cannot sell off the company at a knock down price in order to raise funds to pay creditors. Should we go into administration and then the planning appeal is successful, any resulting profits would be protected. The proceeds would, of course, now come to the directors and not the club. Morrison stated that if the appeal was successful and a buyer was found, then the club would simply invoice the company for payment. I doubt the directors have any legal obligation to hand over any of the proceeds to the club. They could, theoretically, pocket all the profit and still claim back from the club the money they have loaned. I don't for a moment think that they would do anything as dishonourable as that. What the directors do have every right to do though, is to use the profits to pay back the loans they have made to the club, handing over any remaining balance. They may claim back all or some of the loans, or, depending on their personal circumstances and those surrounding the club, they may simply write off their loans and pass all of any profits directly to the club. So, in summary, I don't think the sale was to give the club a cash injection, it was to protect potential Battery company profits from the administrator. That seems to me to be a sensible move. It does, however, demonstrate that the 3 directors and others at the club must have felt the club was at serious risk of administration even before they could blame the risk on the fans' threatened boycott. It also begs the question of whether the appeal has actually been submitted and, if not, who has the responsibility for submitting it before the deadline.2 points
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Why did so many on the board all go along with this nonsense for so long. I find it difficult to accept that they are all incompetent, though looking at the management at my work and suits in general, it’s quite possible they are.2 points
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I’m wondering if HMS Sneck actually needs to be renamed the Marie Celeste…. because it very much looks as if there’s no one there.2 points
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https://www.inverness-courier.co.uk/news/caley-thistle-insider-slams-bombshell-as-norwegian-renewab-352330/ “We intend to seek an alternative location for our park and ride scheme in Inverness, which will reduce traffic to the construction site, while also ensuring economic benefits remain in the local area. We do not anticipate any delays to the project.” Is there anyone on here that works in the logging industry that could maybe alter that last part? "Another tree in the road. How did that happen?" I joke of course. But surely the club could have went back to them with a lower cost to push the deal through?!1 point
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??? ADMINISTRATION ??? 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 7 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. (can someone message Kelty to let them know) After all the cloak and dagger secrecy going on in the boardroom at Inverness Caledonian Thistle since relegation was confirmed on 18th of May, the club chose to have a three day media silence before Chairman Ross Morrison spoke, revealing nothing. Another three days passed before they announced this little gem and exclaimed their delight in a 'training deal' they had allegedly brokered with Kelty Hearts. This one stirred the fans somewhat more than being relegated. However, stubbornness and alienation knows no bounds and Scot Gardiner still lurks around the club, defiant til the end. Morrison then resigned his position on the 3rd of June, using the local press, citing his belief that the Kelty Hearts move was the only way forward. In keeping with the current trend, the official site has just given lip service to address some things, however, no mention of Morrison, Gardiner, player contracts, do we have a club etc etc. Their transparency is invisible. What an omnishambles! How can we go from SupercaleygoballisticCelticareatrocious in the year 2000, to Scottish Cup Winners in 2015, playing in Europe and just 9 years after lifting the Cup; Administration. Mismanagement and our demise was hastened by the appointment of Scot Gardiner. Ever since then, ludicrous decision making has seen our stock plummet whilst 'shady' dealings were investigated. The failed Concert Company, the Battery Storage, the Statkraft contract have all ended badly leaving the club facing insolvency. That's another fine mess you've got us into.1 point
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1 point
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Part-Time or Full-Time? There are many Part-Time good quality footballers in the lower leagues, who prefer to remain P/T as financially they are better off with the income from the full time jobs/ careers supplemented by the income from part time football. Even the local football scene could easily produce a few gems who would wish only to play part time football because of it.1 point
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This story with a bit of encouragement could easily go global......certainly amongst the football fraternity. Some rich guy ,lying on a beach in Bermuda, may just pick up on it and think............I want a piece of that action. On looking up our proud history and rise to the top he decides there and then he must be involved. He phones for his jet. Its happened before. So keep up the heat and force a further resignation/sacking. This could indeed go global.1 point
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Ok, so Karen Gillan can maybe get the timelord to go back in time to circa 2000, or maybe one or more of the guardians of the galaxy to dispense with the CEO (preferably Rocket), or get the Rock to go Jumanji all over his 'candy ass' ... maybe she could produce the series! no need for scriptwriters as you could not make half of this stuff up!1 point
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Kelty haven't had a peep about us binning the deal. Gardiner is loooong overdue for his appointment at River House...1 point
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The fact that a rich man like Duncan Ferguson who failed at the club and hasn’t walked away especially knowing the cash flow problems at the club tells us all the kind of person he is.1 point
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Just received email from change.org confirming the petition has been successful confirming the Kelty move is off1 point
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Yeah but a more level headed piece won't get those clicks that the Courier so depserately craves nowadays.1 point
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1 point
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The other point about administration is that the administrators are not there to ensure that we can continue and be a good team or get a community focused club back. They are there to secure money for the creditors and if that means liquidating the business and selling all the assets, that's what they do. You also need someone to take the club out of administration - do we have that?1 point
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1 point
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Ross Morrison has been speaking recently as though the appeal is in. Maybe he has been assured that it is when the reality is that it isn't! That wouldn't surprise me. Perhaps the Supporters Trust could seek confirmation through the SLO? It would be catastrophic if we missed out on income from this as a result of yet another administrative failure.1 point
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It's good from their position certainly, but whatever the outcome, the club gets £250k at least into the coffers. The directors who have bought the Battery Company might have chosen not to put any more money into the club had the club not sold the company. The club might potentially lose out on some of the bigger profit, but at least it has had a significant cash injection at a time when it is most needed.1 point
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1 point
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Morrrison has resigned as a director of Inverness Thistle and Caledonian F.C. Limited (the football club) but, as of this morning, appears to still be an active director in the following ICT related companies: - ICT Battery Storage Limited (with David Cameron) - Inverness Caledonian Thistle Properties Limited (with David Cameron) - Inverness Caledonian Thistle Community Development (with various others) - Inverness Caley Thistle Concert Company Limited [In Liquidation] (sole Director) It would be nice if one of the remaining directors of Inverness Thistle and Caledonian F.C. Limited would like to shed some light on what exactly is going on and their collective plans for the future of the club. Over to you gents we're all ears: Graeme Bennet David Cameron Gordon Fyfe Allan Munro Panagiotis Thomas Scott Young1 point
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It would, but I can't imagine there'd be many purchases until we get word that Gardiner has been thrown on his arse out the front door1 point
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The club probably do not know what is a realistic price for a season ticket. Also Gardiner is probably the only person able to do things. If Directors reach a decision someone has to action them. Who apart from Gardiner administers?1 point
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I hope his CEO contract is as watertight as all the ones he was doing for the club.1 point
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