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They can’t just start selling new shares at a knockdown price. They would need the agreement of shareholders at a general meeting to create the extra shares and also to sell them at a price much lower than what’s been paid hitherto. Apart from the time involved in doing this, it would also require the agreement of existing shareholders, who may see administration as a safer way of avoiding liquidation.

This consortium look dodgy. Administration is the best way forward.

When asked by The Press and Journal to sum up Gardiner’s time with Caley Thistle, Morrison said: “Was he perfect? 100% no. “Are you perfect? I’m not, not a chance, I couldn’t run a football club." We learned that the hard way.

I think there are more subtexts here (including brinksmanship about signing over the debts as mentioned way back at the start of this process) ... but essentially, reading the article yes, that's about it. The businessperson is willing to put in 1.2m for 50.45% of the club. This might get us to the end of season. What happens after that? We can't really judge that unless we know who it is. Are we comfortable with giving a controlling stake in the club for that amount of money that will see us limp to the end of the season and then require another 3 or 4 mil to survive next season ... Personally, I really don't know what offer or person is best for the club. I just know I want my club to come out the other side, still existing, still in Inverness, and with a sustainable business model in place. If that means it takes 10+ years to reach the Premiership or the top end of the Championship then so be it.

Great, looking forward to seeing a well supported front two!

…and a suitable taxi for the board!

When you make your plans for Saturday, remember that the Fans' Meeting is taking place at 1200 in Bar 94. As mentioned in our earlier post, Scott Young, the Interim Chairman and Supporters Liaison Officer, will be attending at least part of the meeting. We are pleased to confirm that Charlie Christie, Interim CEO, also hopes to attend part of the meeting. The format will be similar to the meetings last season, although the events that continue to evolve this week will inevitably have a significant bearing on the topics that will be discussed. The meeting is open to all fans, and provides an opportunity to discuss the club's situation with the Interim Chairman / SLO and with members of the Supporters Trust Board. Full details are in the image below or on our website: https://www.ictsupporterstrust.org/post/ictfc-fans-open-meeting-191024 If you are not already a member of the Trust, joining is easy (and only £5 or £1 for Under 16s): https://www.ictsupporterstrust.org/join-us We hope to see many of you at the meeting on Saturday. If you have not seen the improvements our volunteers have carried out at the bar, it is also an ideal opportunity to do so.

Anders would be a dream come true. Even if one of his conditions was to play on a Sat.

There's no way for any new investor to get sufficient shares to take them anywhere near the 50+% point without them also obtaining already issued shares. New shares could be created but that would require an AGM/EGM approval. It would also require a devaluing of shares to allow it to happen for £1.2 million. All of that is doable but the board themselves do not have the authority to accept an offer on that basis and with so many competing egos involved it's far from a certainty. If director loans are also to be converted to shares then it all gets even more ridiculous and complicated.

Likely a lot of angry & confused supporters especially those who have given not just ST money by GoFund donations too without much clarity coming from the club. Probably driving for an agenda to avoid chaos and tangents to get maximum outputs from the session.

Would the likes of Morrison & Co. who we heard were initially willing to convert debt into equity that presumably came from unissued shares, have enough of this equity (if they now agree to it) to reach this total and be prepared to sign on the dotted line to write off their debt on that basis? If so, then presumably the £1.2m would be going to them and wiping out debt on paper rather than in real life? I cant say I can even begin to understand all the different convoluted pathways that may be involved, but like us all, I just hope they converge to the same spot which involves ICT survival.

You keep assuming that shares would be purchased at 'face value' as part of acquiring a controlling interest. It is much more likely that there will be an offer price at much less than this value on the basis that the shares in effect become worthless if administration/liquidation is the alternative. Any deal would presumably look to right down or restructure debt also. Still needs a thump of cash. Setting aside the initial capital/securities requirement, the essential element of any future path is having a strategy for management of the club to avoid reoccurence of the same issues at some point down the road. This needs a bit of vision but also much greater governance than seems to have been taking place over the past years .

That’s the aspect that I can’t get to grips with. OK… it’s said that the mystery Blue Black and Red Knight would be prepared to follow up “their” £1.2M with more, but £1.2M is chickenfeed compared with the other numbers involved, such is the depth of the club’s financial mire. It’s going to cost £1.6M even to get to the end of the season; debts sit somewhere between £3.4 and £3.8M; and to acquire a controlling interest could cost up to £6.1M… bringing the grand total potentially to over £11M. And then there’s the question of future losses. The £6.1M takeover figure is what would have to be bought in new shares in order to top the combined total of 4.9 million existing shares and the ST’s fixed 10%. On the other hand if “they” were able to persuade some existing shareholders to part with what they have cheaply, that would reduce. I’m struggling to see how this bid, which I believe is the one the board took just two hours to reject before, can be made to stand up unless there’s a very big rabbit waiting to jump out of the hat.

I don’t suppose Eden Court could be approached with suggestions of one or two (non actionable) gags?

no interest in his own views either then?

I thought that too. Yup. I do seem to recall this. Yup, it feels like The Caledonian Stadium down by the lake in early March when the temperature can drop to -20 or -30!!! Other than money which they have loads of, there are lots of parallels with ICT, not least the sporadic periods of success followed by longer periods of absolute mediocrity but thats what happens when you support your local team rather than glory hunt, I guess. I think that was the game (2022?) where Lewis Morgan scored a hat-trick and also had one disallowed. He always plays well here for some reason. I watched that from the comfort of my front room. couldn't even give my tickets away for free for that one

Dumbarton bus 26 Oct leaves stadium at 9.30. Picking up in Aviemore and Pitlochry. £20 a seat. Book through Facebook or on 07462218717

Fair enough, I respect your point of view and that side of it.

This latest fantasist makes Makwana look like Jeff Bezos. Accounts for his various "businesses" on Companies House would suggest that he would struggle to cover the ref's fee on Saturday. Has anyone got Anders' number?

This guy is Ketan-Lite. Look him up. And check out Nuneaton Borough FC.

https://www.inverness-courier.co.uk/sport/moray-businessman-holds-positive-talks-with-caley-thistle-to-363985/?utm_source=dlvr.it&utm_medium=twitter The amount of ups and downs at this club could make a rollercoaster at Alton Towers feel like a walk on the beach

Mr Savage i believe has wanted administration from day 1 , he has put money into the club on the basis that he could see what's under the hood before buying it or attempting to buy it out of admin which I don't think is actually going to be plain sailing. Cva agreements or one thing but if you don't own any of assets which could use to raise £ against there's trouble. Much is made of the community trust and academy businesses being run as separate entities but without Caley Thistle there's no point in either as it's the clubs names there using .. providing a pathway to first team football etc ... its a hell of a mess administration may sort it or it may absolutely destroy it

Implying that the board would not entertain any late offer, which I’m sure they would be obliged to do if they’re to discharge their duty to act in the best interests of the company, etc. Just seems a bland statement, and almost as though the board is reveling in the drama and secrecy….

Club Statement "The board can confirm that the time for any interested parties to offer for the Club has come and gone. We are currently looking at our position and will make an announcement in the coming days" More purgatory I guess.

Gardiner "I take no interest in the views of disgruntled people who ultimately failed at their jobs. So why are you threatening lawyers' letters left, right and centre then, Scot?