NEW INVESTMENT IN ICTFC

[CaleyD]

What I see and believe is niether conspiracy nor underhand dealings. I see the board realising the club is in a bit of a short term predicament at the moment because of a heavily depleted squad due to injury. I see those board members and shareholders that have a small amount of cash at their disposal getting together to put that cash into the squad pot in exchange for some of the unissued shares in the club. I dont see any of them doing this to safeguard anything or to dilute what would be available to any other investors and am sure that those who are providing the funds just now have the long term best interest of the club at the heart of their decisions.

Oh, I do hope you are right. All these dealings and wheelings are just toooo much for me. Let the "big whigs" get on with it and let us fans just enjoy ICT. These money dealings are not for us fans really, quarter millions etc., shares etc., - if I won the lottery I would be there, but......

It's attitudes like that which have caused the situation football is in today with so many clubs being ripped off and/or going to the wall. Ask the fans of these clubs whether it was a good idea to let the "Big Whigs" just get on with it.

[CaleyD]

If you won the lottery and donated the money to ICT, nobody would thank you, they would just question your motives!

And rightly so....question everything and then question it again until your satisfied all is as it seems.

The days of taking anything at face value, especially in business, are sadly a distant memory.

[Libero]

The group who is interested in investing in the club has been identified as a group of expat fans going under the name 'Muirfield Mills'

There was a short piece on North Tonight last night saying the group were awaiting word back from the club on their intention to invest significantly in the club

Here is the statement they released:

[Libero]

Story now on Inverness Courier website giving an update:

Potential investors wait for Caley Thistle's next move

[PullMyFinger]

I was under the impression that was dead in the water now that there's been a cash injection from the existing board. Interesting times indeed.

[IMMORTAL HOWDEN ENDER]

Would any wish to look at a potential conspiracy theory ??

As you all know I have previously stated that I had inside knowledge from the investors - well you all know that it was probably me havering on again - and I could say that I have been reliably informed by a "mole" - which again you all know is fabricated - but let me put you along a conspiracy path - which again is probably a figment of my imagination.

Why run such a story in the Courier and why do both sides issue restrained and non informative comments - anyone good at reading between the lines ?

Where does the name Muirfield Mills come from ?

Muirfield is one of the leading private owned construction businesses in Scotland looking to branch in to Sneck. Would you believe that one of their most advertised jobs was the Mills Observatory in Dungdee ?

What can you see via an Observatory ?

What would happen if these investors offered a load of spondoolachs in exchange for some shares ?

Mmmmmmmmmmmmmmmmmmmmm

[Scotty]

we're going to keep "our-eye-on" you

[IMMORTAL HOWDEN ENDER]

Who the feck would believe me anyway ?

And what is the other name for the Orion Constellation ? But what are they ****ing fer ? Surely not shares !!

But would we be dealt a savage blow if that happened ? Perhaps not ? It is a matter of personal honour.

The battle for ICTFC continues ... watch this space !!

[bauhaus]

Ive heard they are expat businessmen in Dubai

[CaleyD]

Sheikh Hamad bin Khalifa Al Thani likes to holiday in the area and since he had his offer for Man U knocked back at the start of the year he might have set his sights a little higher!!!

[Tichy_Blacks_Back]

CD - I think the Qatari royal family have found another route into United and are just chipping away in the background at the Glazer defences.....

[CaleyD]

I'll give them a bell tomorrow and see what the craic is.

[Tichy_Blacks_Back]

I'd leave it to Sunday as they are all away on their Eid holidays.... ;-)

[Tichy_Blacks_Back]

You would think if they were going to make up a name they could have thought of a better one than Muirfield Mills - I smell a rat or is it empty apartments....

[IMMORTAL HOWDEN ENDER]

READ BETWEEN THE LINES !!

INVERNESS COURIER - JULY 2011

The news of the imminent contract offers to Butcher and Malpas comes only two days after the club confirmed that a group of Inverness exiles have expressed a willingness to invest a six-figure sum into Caley Thistle.

Discussions between the club?s board and five separate individuals, all born and brought up in Inverness, had taken place over the previous eight weeks, but they have since formally submitted their intentions in writing.

Caley Thistle chairman George Fraser conceded there were still issues that needed to be agreed upon by both parties, but remained hopeful these could be completed within the next two weeks.

?It?s now a case of the board at Inverness needing to do a bit of research on this potential investment, while both sides still have a few things to look into,? he said.

?We are working on this just now and provided there?s nothing untoward then the two-week timescale we?re looking to get it done by is a realistic one.

?It?s a group of five individuals who have come together. They are all enthusiastic fans of the club, who want to invest a six-figure sum.?

Fraser was not willing to divulge the identities of this mystery group, or where they all come from, but did confirm they would be looking for representation on the board at Inverness. Barley Yoghurt and Alan McLaren ??

It is, however, understood that Jeff MacDonald, the Texan-based oil tycoon who was strongly linked with becoming an investor at Caley Thistle back in October 2006, is not involved. :rotflmao:

MacDonald, the older brother of former Liverpool player Kevin, made his money from buying and selling two oil and gas companies for a combined total of nearly ?600 million

DAILY RECORD - OCTOBER 2006

Byline: By Alasdair Fraser

THE mystery oil tycoon ready to pour money into Inverness Caley Thistle has been revealed as Jeff MacDonald.

MacDonald, the brother of Republic of Ireland No.2 Kevin, played for Caledonian in the 1970s (with IHE ) and went on to make a fortune in the North Sea oil and gas industry.

He now lives in Texas and having expressed interest in investing in his hometown club, MacDonald then held exploratory talks with Caley Thistle's new chairman, Alan Savage. (who is he ??!! / where is he now ??) Moves to involve the ex-pat are likely to take Caley Thistle on a summer tour of Texas but the club are refusing to confirm the identity of their rich suitor.

Director of football Graeme Bennett Greame Bennett said: "We've a gentleman's agreement with the individual that until we have something concrete we will not reveal any details." But chairman Savage confirmed a Texan tour was a possibility for the Highlanders.

He said: "I've been working hard behind the scenes to try to benefit the club in the medium to longer term.

"Thanks to a business contact in the US, who is a Highland exile, we are hopeful the team can have next summer's pre-season training camp in Texas."

Caley Thistle boss Charlie Christie revealed his players were excited about the prospect.

He said: "I think most of the lads have already got their passports looked out.

Mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

[IMMORTAL HOWDEN ENDER]

Mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm - no responses

[PullMyFinger]

We're still stargazing.

[IMMORTAL HOWDEN ENDER]

Will probably make more sense after the announcement at the Board Meeting.

[caleyboy]

Don't think Jeff MacDonald is involved. OBTW I don't remember either JMcD or IHE pull on a Caley 1st team shirt!

[Alex MacLeod]

George has indicated he will step down from the board, as well as the chair, sometime after the AGM. That leaves a place on the board for someone else to come in. Personally, I dont think it will be Mr Savage. The American investors want representation on the board and maybe they plan on providing the Chair in the future. I know IHE has put his insights on another thread and these are very plausable but I feel they may just be pie in the sky and that the new investment proposals are more firmly on the ground. I question Frasers resignation. Is it a part of the requests from the new people? What is a six figure invetment? Is it ?100,000 or ?999,999? Are we being blinded by the sound of 'six figure sum'? Is this sum just enough to keep us in the black for one more year or is there serious investment that will sustain our club, and push us forward, in the long term?

Our accounts dont really make good reading this year. We had a deficit of ?190,000. Granted that was a vast improvement on the previous year but we had an investment of ?250,000 and a further input, as a result of the sale of the social club, of ?280,000. We also had loans from directors. Thats over half a million of unplanned for income yet we still report a loss. How do we cope next season and the one after that. Our fanbase is not growing. Our income stream seems to be shrinking. Our costs are increasing. We need people to come in who can turn all that around and if George see's his stepping down as something that will bring that on then he has to be admired.

[CaleyD]

There's actually over ?1 Million of Debt sitting on those accounts...

?936,310 - Creditors due within 1 year

?250,000 - Creditors due after more than 1 year

That is somewhat offset by the ?632,874 owed to us....but the fact that the Debtors figure has increased by around ?500,000 in 12 months is a little worrying. With so little in the bank it effectively means that the club is/has been operating hand to mouth and relying on that money coming in to meet the requirements of the cash going out (i.e we have/had potential for major cash flow issues). The fact we have more due to go out than we have to come in means that without increased income (and the new investment will help a bit) then that will quickly catch up on us.

Our "Operating Loss" may be far lower than last season, but our financial position is much, much worse and we no longer have any assets left to sell to see us through the present predicament, let alone any future predicament.

Without investment, and I now believe 6 figures is no more than a sticky plaster on a gaping wound, we are sunk.

[info='B.T.W.']This is not intended to apportion blame or have a pop at anyone. The situation is was it is and when compared to the accounts of any other Scottish Club then we are still, by far, in the best financial position in the league. If I had to claim motive, then it would be in highlighting to everyone what the position is in the hope that fans might think about what they can do to help improve things because when push comes to shove, we are all in this together.[/info]

[Yngwie]

That is somewhat offset by the ?632,874 owed to us....but the fact that the Debtors figure has increased by around ?500,000 in 12 months is a little worrying.

Could some of that just be SPL monies not payable until after the end of the season, and which we would not have had at all the previous year?

[Alex MacLeod]

Thats exactly how I see it CD. We desperately need long term investment.

[CaleyD]

Yngwie....Possibly and maybe even likely, but that money should be considered income (and recorded accordingly) and not "debt"....unless it was overdue.

Either way, we still have a circa 300k "hole" which would have been far larger (£500k+) if not for the sale of the Social Club. If we'd turned a profit this year, then you could argue that provided we remain in the SPL then we could claw that position back, but since we just had a year in the SPL and recorded a loss (a bigger one than the "operational loss" figure suggests) and we have no assets left to sell to plug the gap in future, how do we continue?

Investment? Based on the accounts just issued we need an additional £500k just to break even...and that doesn't allow for what was spent on pitch repairs during the summer. The money invested by the Board/Shareholders recently would not have all gone into plugging that gap as Butcher needed to make additional signings that hadn't been budgeted for.

That's why my opinion has changed. Up until those accounts came out I didn't think we needed much to help get us back on track and turn things around....I clearly got that wrong, and by a large margin. As I said, a 6 figure investment is, IMO, no longer enough to do anything other than tide us over for a little longer. We have no family silver left to sell and investors aren't going to keep throwing money in to a black hole....not unless we get really lucky.

Alex....Long term investment would be many millions without large scale changes to improve the underlying business.

[info='B.T.W.']This is not intended to apportion blame or have a pop at anyone. The situation is was it is and when compared to the accounts of any other Scottish Club then we are still, by far, in the best financial position in the league. If I had to claim motive, then it would be in highlighting to everyone what the position is in the hope that fans might think about what they can do to help improve things because when push comes to shove, we are all in this together.[/info]

[Alex MacLeod]

It is imperative that we stay in SPL and drastically improve our position within it. We obviously need sponsorship. No disrespect to Orion but their contribution just isn't enough to sustain us. We need a big name. Someone with a UK wide if not Global reputation. Flybe gave us that but unfortunately they weren't prepared to put their name to a lower league team. We also need a gate increase but that is unlikely to happen in the short term.

We let a number of staff go when we went down and as far as I know these have not been replaced to the same extent. We are operating with a smaller pool of players on smaller wages than we paid previously.We have probably made as much cutbacks as is possible so increasing income is about the only way we can survive. To increase that income to any great extent means we must have a strong product to offer. That product has to achieve results in a consistant basis and get us up the table to a position where we are more talked about and our sponsors name is more widely seen. A product that will have more people wanting to pay for it.

We also need to do more in our marketing. Be more frequent in reminding people of such initiatives as 'buy a brick'. Do more to try and increase sales of merchandise. Promote the bar and hospitality more. Remind people that they can purchase shares in the company. Perhaps even look into promoting the Kingsmill Suite as a conference and function venue. St Johnstone utilise their hospitality suite on a daily basis for meals and are always sold out. Could we not benifit from similar.

The bottom line........WE NEED MORE MONEY