NEW INVESTMENT IN ICTFC

[Libero]

Just read this on the official site, fantastic news!!

Offer of cash help for club

Statement from ICTFC:

In response to local speculation, ICTFC can confirm the club has received an offer of a six figure investment in the club.

This has come from a small group of Inverness exiles who have supported Caley Thistle from afar and who have now indicated a willingness to become more involved.

Club chairman George Fraser said: "We feel it is only fair to confirm that this offer has been received. The board is encouraged by the fact that, in this challenging financial climate, there are people willing to invest in, and support, the club.

"There are a number of issues which require to be agreed by both parties but hopefully these can be concluded in the next 10 to 14 days.

"Operating an SPL club has never been so financially demanding and the proposed investment would be of great value to assist Caley Thistle going forward."

"The proposed investment was stimulated by, and is connected to, the previous statement by former chairman David Sutherland offering to transfer his majority shareholding to potential new investors."

Mr Fraser added:"In fairness to all parties, the club will be making no further comment on the present investment offer until all matters are concluded."

Linky

[Alex MacLeod]

IHE, Gringo, Pauliebee ?????

[SMEE]

?1000.01

[TopSix]

Yaaaaaaaas! Wonder if it's Dutch businessmen? Heard there are some fans over there who are a flush and have season tickets. Excellent news either way. I'm delighted!

[+Gringo]

..Gringo, ..?????

I wish.

[Scotty]

Yaaaaaaaas! Wonder if it's Dutch businessmen? Heard there are some fans over there who are a flush and have season tickets. Excellent news either way. I'm delighted!

I would be more inclined to look toward Houston, Texas but until it is made public I guess we can all speculate on the identities and the location of "the exiles" .....

Bottom line is that it seems to be good news for the club and if the 'exiles' are indeed ICT supporters then I would hope that the offer is based on genuine feelings for the club and designed to move the club forward rather than any agenda that might be present when someone with no affinity towards or connection to a club takes it over.

[CaleyD]

In regards to your "Bottom Line"...it would have to be someone with a genuine interest in the club because there's nothing else left for someone to invest in or to attract any "dodgy" investor looking to asset strip or the like.

I've had a feeling for a while now that changes were afoot...and they are doubtless needed.

Caley Thistle has been on the back foot since day one. We were shafted with the new stadium that meant we started life with a huge debt and without getting into detail or kicking off any blame game, we've never managed to (properly) shake that off and have relied a little too much on stripping out the assets during tough times to get us to where we are today.

I would say the club is at a point where investment will not only be welcomed...it is sorely needed. We don't have any debt and the bank aren't threatening to foreclose on us or any such thing...thankfully. I also think we are, for the most part, operating within our means as a business (we have little choice on that). However, we have no safety net and no capital which can be used to grow the club.

The statement from the club would suggest that the group talking to the club have an interest beyond sticking in a few quid. Putting that together with previous statements from various people then I would hazard a guess that someone will be taking over the Tulloch Shareholding and then sticking a few quid into the pot over and above whatever that might cost them (I don't think they would prove too difficult to deal with if they can convince Sutherland they have clubs best interests at heart).

What I don't expect to see is fists full of money being thrown at the club (team or otherwise)...and I don't think it is needed. The healthiest thing would be to see new blood, new ideas and new drive with just a splash of cash to give us some breathing room and a bit of stability.

Anyway, as said already...all speculation. Just glad that it's positive speculation!!!

[IMMORTAL HOWDEN ENDER]

I would only wish to point out that my addition of a percentage of my NHS early retirement lump sum was devotedly devoted.

Unfortunately I was actually approached about this but was sworn to secrecy as none of the other bestards wished to have my name attached to the offer.

Lets just say that some are not too afar and were on evidence on tour.

[Ronaldo]

I suspect Scotty could be on the right track, with Kevin MacDonald's big brother perhaps?

[IMMORTAL HOWDEN ENDER]

Its not Jeff as he was always a tight ******* - these are a group of supporters who often post on here and have gathered a financial pot between quite a few of them.

[TopSix]

Hopefully we'll re-sign Dean McDonald the disco dancer and install a big bassy PA system with the cash to blast out the tunes at half time. Just to get a party going, if nothing else down there.

Or, we could sign a centre half...

[Libero]

Heard there could be news on this over the next day or so

[Libero]

"TyroneSTV: STV news understands Inverness are ALSO considering an alternative offer of investment in the club. An ancmnt could be made tmrw."

Just seen this on twitter

[RiG]

Caught the back end of this story on the STV news but all I got was "considering an alternative bid in the next few days" but that was it. Do we have much else to go on?

[gingerjaggy]

news on facebook that this new consortium is to make a full takeover worth 1 million dont know if that is true but that is what is there

[BornCaley]

From Facebook Page of Inverness CT Fans. Dont know how reliable this is or what the source is!

ANNOUCEMENT: 2/3 weeks age ICT recieved an offer of ?250,000 investment in the club from a european consortium for 25% of the club, BUT on Monday ICT recieved a new offer of investment into the club this is from complete different people and more of a takeover of the whole club for ?1 million

[Pele_Is_God]

If we want to progress further we need investment. Not sure on total takeover though, very risky and despite a few problems the present board have done a very good job IMO.

[12th Man]

Caught the back end of this story on the STV news but all I got was "considering an alternative bid in the next few days" but that was it. Do we have much else to go on?

I checked STV player but tonights news isnt available yet, maybe later.

Is 1 mill much for full control,all it does is pays people to surrender their shares, has further investment in the club been suggested.

[Ronaldo]

If it gets us any closer to being able to field a striker I'll be happy

[Proctor]

We must be worth more than one million surely? All I can say is better the devil you know. I'd hate to see the team fall into the wrong hands. Do the fans not have a large share in the club from the early 2000s?

[ictchris]

I'm sure everyone thinks this anyway but we need to be very, very careful about who invests in the club. A large percentage of investors in football clubs are hopeless egotists and a smaller number are basically crooks - read up on the recent owners of Portsmouth or Notts County, absolutely unbelievable. However, I'm confident that our board will carry out proper due diligence on whoever comes in.

[Scotty]

We must be worth more than one million surely? All I can say is better the devil you know. I'd hate to see the team fall into the wrong hands. Do the fans not have a large share in the club from the early 2000s?

Based on a (very) old set of accounts (2006) [as I dont have recent ones to hand] we had 1,891,681 'ordinary' shares issued at that time. We also had 600,000 'A' Ordinary shares, 300,000 'B' Ordinary shares and 3 'C' Ordinary shares. Each share had a nominal value of £1 so technically our share issue was worth a little under £2.8m

I am not sure of the details, and someone will likely come along and explain it but I believe that the 1.9M Ordinary shares are the "voting" shares which shareholders big and small hold which give you the right to come along to AGMs and vote. A,B, & C shares are of the same value and although they allow you to attend AGMs etc they hold no voting rights. Think the "C" shares were Caledonian, Thistle, and INE (but could be wrong).

However ... at the end of the day, the shares are worth only what someone is willing to pay for them ..... and a little over £1m would indeed buy more than 50% of the club .... would not be selling mine though .... its only 250 shares but its my own little bit of ICT that I will own forever and which I never expected any return on anyway.

Cant really comment on the speculation about the offer until we know more details and who and what is involved. If its someone (or a group) with the long term good of ICT in their hearts then its definitely to be considered ... but if its a "benefactor" with no prior connection then I would be very wary.

[Renegade]

I think this could be a pivotal moment in ICT's short history, IF these people have ICT's best interests at heart and really do have some ideas and money to help the club take the next step forward. Of course though, they might just be some tyrants looking for a new dictatorship (Romanov at Hearts being a prime example). Like everybody else mind, there's still questions that will surely be answered through time - Who are these people? Where are they from? How did they make their money? How will ICT change under their control? How will the team be different? Would Butcher be replaced with a manager of their choice? How will the stadium change?

It kind of reminds me of the porn guy who wanted to buy the club a couple of years ago. Is this supposed takeover more credible than his?

Edited August 16, 2011 by Renegade

[starchief]

ICT are in a very precarious position. Let us in the hands of an egotist and another Gretna is on the cards. We don't have the fallback of a stadium for any guarantor of financial stability. We just can't go beyond our means. So let's hope we absolutely know who and why this buyer is interested.

[Yngwie]

It kind of reminds me of the porn guy who wanted to buy the club a couple of years ago.

That's no way to talk about Alan Savage.