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Showing content with the highest reputation on 09/11/2024 in all areas

  1. 3 points
  2. Ex-Caley Thistle chief executive Scot Gardiner doubles claim against club to £140,000 www.pressandjournal.co.uk Caley Thistle’s former chief executive Scot Gardiner has doubled his demand from the club, claiming he is owed £140,000. Club consultant Alan Savage warns that sum could soar further, making administration a real possibility as he seeks to find an investor for Inverness. Former ICT chairman Savage was drafted in last month by interim chairman Panos Thomas to “take charge of the struggling Highland club to put the team in a firm financial position”. The Orion Group chief has been paying immediate bills and has ploughed in more than £200,000 to ensure ICT remain operational with staff wages also covered. The threat of administration has not vanished, despite earlier hopes that key former shareholders turning loans into equity or writing off loans would stave off the fears. Inverness’ consultant and former chairman Alan Savage during Wednesday’s press conference. Image: Rob Casey/SNS. Loan money plea is hotly disputed Last Friday former Caley Jags CEO Gardiner, who left the club as a result of Savage’s arrival in August, sent sheriff officers to the Caledonian Stadium. Gardiner, who spent five years with Inverness, said he is owed £70,000 in loan repayments. Savage claims £50,000 relates to money loaned to Inverness Caley Thistle Concert Company Ltd with the remaining £20,000 loaned to the club. A three-week period has begun for ICT to respond to Gardiner’s loan claims. However, Gardiner has also now claimed he is owed wages for a 12-month notice period, increasing his overall claim to around £140,000, according to Savage. Gardiner resigned in early June of this year, but remained in place to work as the club sought investment opportunities. That ended with Savage’s arrival last month. ‘He’s putting the club on the brink’ Savage told The Press and Journal: “We’ve had a letter (from Scot Gardiner’s lawyers) and they’re now claiming he’s due (money for) a year’s notice period. “This is on the back of a contract he says (former chairman) Ross Morrison approved and he’s looking for a sum of the region of £140,000 plus I’d expect damages on top. “It seems the club have accepted his resignation. The Glasgow-based lawyer for Scot Gardiner says because the club accepted his resignation, it accepted a contract (with a 12-month notice period) exists between the club and him. Former Caley Thistle chairman Ross Morrison. Image: SNS. “What should have happened is (the resignation letter) should have been sent to a lawyer to find out what should be done about it. “I will still be responsible for the £70,000, but if the club adds a legal bill on, I think you’d be looking at £175,000. “That’s £175,000 for Scot Gardiner, who failed to deal with the paperwork which could have made the club part of the freeport, which would have made this club money. “In my eyes, he’s been incompetent, yet he’s putting this club on the brink of administration. He’s someone who failed on so many fronts at this club. “But we will fight this. Even if it happens, administration is not the end for Caley Thistle. It could be the beginning of the recovery. “I would look after the club through administration and post-administration.” Savage will spend the coming days speaking with his lawyers and plans to hold a press conference on Tuesday to further update supporters. Investment plans remain active Savage says the League One side, relegated from the Championship in May, must land investment of at least £1.6 million to get them into next season. Income from the controversial battery farm in the city’s Fairways depends on the goodwill of former directors David Cameron and Allan Munro and ex-club chairman Ross Morrison, who own the operating licence. Savage hopes investment through a battery farm agreement could land the club a lifeline £2m, while crowdfunding remains an option they are actively looking at. The club’s draft accounts show a loss for 2023-24 of £1.7 million. The loss for the year ended May 30, 2023 was £588,053. Gardiner has been contacted for comment.
    2 points
  3. 52 slots now .. thanks to the people who took additional spots. 8 to go.
    2 points
  4. Except he forgot about the 7,000 unread emails
    2 points
  5. Oh go on then... 11 slots now!
    2 points
  6. The only way to ensure he doesn't get a penny is to put the club into administration and I think that's what savage is getting at.
    1 point
  7. OMG this is a mess.
    1 point
  8. The man is a chancer and I won’t panic until I hear the response from the club
    1 point
  9. Can't remember the Black Bear but do remember Stuart Henry the DJ. Went on to do Top of the Pops. Apparently fond of a spew on board the pirate ship. 1973 Sunbeam Rapier and 1913 Sunbeam 3 litre.
    1 point
  10. …if the Makwana deal hadn’t been stopped in its tracks then I don’t think the club would have survived until the end of the season.
    1 point
  11. 48 slots taken We have 3,000+ members
    1 point
  12. He should never have been given that time to 'help' the club by staying on after his dismissal, as he was probably hiding away/ deleting all his dirty dealing.
    1 point
  13. If that's the case, glad to hear it and withdraw what I said, fuelled as it was by apparently misleading press article.
    1 point
  14. Sounds like Alan is going to give Gardiner a right Savaging. His narcissistic ego will be his downfall, should have walked away with his tail between his legs when he had the chance. By the time Alan’s deep dive forensic audit is completed SG won’t have a tail left!
    1 point
  15. Certainly not the case having spoken to Robbo the club contacted him last week and he said he is willing to settle amicably but Certainly isn't chasing it as is mentioned .
    1 point
  16. Find it hard that the article has mentioned Robbos name when there is the likes of Barry Wilson who's owed 12k Billy Dodds 20k the list will go on but they have named dropped John for a reason .. who knows what that reason may be but just seems strange when there is more owed to other people. For what it's worth John offered to work his notice was told by SG no , he offered to reduce his redundancy terms was told no by SG , finger is being pointed at the wrong man here
    1 point
  17. On that last para, Morrison would simply have repurposed a spare/dormant company he had sitting around, rather than set up a whole new company for the concerts. Note also that the concert company did not have auditors, too small for that requirement.
    1 point
  18. I think that our former CEO may well have indeed opened a pandora's box that will be an even greater downfall for him. AS is doing everything at his own cost, not the club's and seems motivated to find any and all wrongdoing. I have to believe that this is what he wanted in the first place so he could - in his own words - 'deal with it' As for Robbo - disappointed on that front.
    1 point
  19. I thought that one of the main reasons for creating a separate Concert Company was to protect the Football Company from any financial misfortune. On that basis, it seems difficult to see how the football club could be liable for money that may have been loaned to the now defunct CC. If Gardiner did lend money to the CC, then I would take a huge drink of schadenfreude at the thought that he has been hoist with his own petard and finds himself in the same position as a list of honest local traders who were out of pocket when a company in which he played a central role failed and collapsed. I trust that any audit will be thorough and forensic in the extreme, because among other things it is absolutely necessary to establish whether there has been any activity that might be judged negligently incompetent or even criminal, and which might therefore become a potential cause for legal proceedings. In that event, perhaps any such proceedings could be held at the Caledonian Stadium where a sell-out crowd - unlike the previous concerts - would generate record profits. That audit could perhaps start by addressing how a company that was meant to be economising could lose over £3 million in three years, including, in 2023-24, a massive £1.7M which means that what it spent in that year was around 75% more than it earned.
    1 point
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