Investment

[+snorbens_caleyman]

13 hours ago, Charles Bannerman said:

Has anyone heard anything about a meeting between the Board and the bigger shareholders, but not involving Scot Gardiner?

Possibly to discuss share issue or transfer topics?  If Makwana has promised Gardiner that he will keep him on, then he (Gardiner) may now be perceived as having at least a substantial monetary and personal stake in this, and very possibly a conflict of interest.

[CaleyCiuin]

On 8/10/2024 at 11:53 AM, snorbens_caleyman said:

Possibly to discuss share issue or transfer topics?  If Makwana has promised Gardiner that he will keep him on, then he (Gardiner) may now be perceived as having at least a substantial monetary and personal stake in this, and very possibly a conflict of interest.

A move to block KM gaining a majority shareholding, therefore removing SG in the process! 

[Bridge_Ender]

He’s a busy guy…

[big cherly]

4 hours ago, Bridge_Ender said:

He’s a busy guy…

“Wow”, All that and more from a guy almost too good to be true. 
Must have paid attention to one of Boris Johnson’s  get-rich-quick presentation shows (Daily Mail) and picked up a few good tips about show and substance. ‘Banana boat and Moray Firth’ springs to mind!! 

Edited August 12 by big cherly

[+jagster]

We really are becoming a laughing stock now 

https://www.thescottishsun.co.uk/sport/13334933/scottish-premiership-complaint-inverness-dundee-ross-county/

[Ronaldo]

This guy is for real, I've just booked a three day cruise on his new boat around Buckie harbour.

[Charles Bannerman]

2 hours ago, Bridge_Ender said:

He’s a busy guy…

Without prejudice to the soundness or otherwise of Mr Makwana’s proposals regarding the club, the grandiose manner in which he expresses himself doesn’t tend to do a great deal for his credibility.

[CaleyCanary]

1 hour ago, jagster said:

We really are becoming a laughing stock now 

https://www.thescottishsun.co.uk/sport/13334933/scottish-premiership-complaint-inverness-dundee-ross-county/

It’s becoming quite an embarrassment being a CaleyJags fan

[IBM]

I think Ketan Makwana inserted the wrong picture it should have been this one!

 

[IcyT]

4 hours ago, Bridge_Ender said:

He’s a busy guy…

Oh God - “a number of luxury brands”; Immersive Experiences consultations. Really? Which brands? What engagement - an unsolicited email or two? Are these consultations paying the bills for a desk with no porthole…? Everything about this is just so ridiculous.

[Jack Waddington]

2 hours ago, jagster said:

We really are becoming a laughing stock now 

https://www.thescottishsun.co.uk/sport/13334933/scottish-premiership-complaint-inverness-dundee-ross-county/

At what point do B&Q cut off our supply of Nails? Gardiner's coffin is riddled with them at this point

[CELTIC1CALEY3]

1 hour ago, jagster said:

We really are becoming a laughing stock now 

https://www.thescottishsun.co.uk/sport/13334933/scottish-premiership-complaint-inverness-dundee-ross-county/

The good news is that Duncan Ferguson has agreed a 50% pay cut to allow the club to pay Dundee and Ross County and avoid further embarrassment to the club.....dream on!!

The good news is that Scot Gardiner has now completed his period of notice (77 days) and leaves on Friday. The club wishes him well in his next Venture........

[buckett]

4 hours ago, jagster said:

We really are becoming a laughing stock now 

https://www.thescottishsun.co.uk/sport/13334933/scottish-premiership-complaint-inverness-dundee-ross-county/

With each new revelation, it is becoming harder and harder to continue to support a club which is so morally bankrupt.

[Yngwie]

It’s not a revelation that we haven’t been paying creditors, it’s a matter of public record, and it has been stated that we have accumulated around £300,000 of overdue liabilities and that we’ll be going bust very soon without a substantial cash injection. So I’m surprised people are surprised!

[Charles Bannerman]

32 minutes ago, buckett said:

With each new revelation, it is becoming harder and harder to continue to support a club which is so morally bankrupt.

I remain very uncomfortable about what happened two years ago when the Concert Company went bust and a number of local traders lost money as a result… while the club appeared to take some credit and satisfaction  from the fact that, before the Concert Company went belly-up, the club took a stadium rental and other income from its assets. That, to me, is morally indefensible and now there’s more.

[Robert]

13 minutes ago, Yngwie said:

It’s not a revelation that we haven’t been paying creditors, it’s a matter of public record, and it has been stated that we have accumulated around £300,000 of overdue liabilities and that we’ll be going bust very soon without a substantial cash injection. So I’m surprised people are surprised!

If the sanctions here are the same as in England, we could face a points deduction. This is what the BBC said about Sheffield United after their opening day win:
 

“An opening-day win moves them into positive points after they started the season on minus two because of defaulting on payments to other clubs during the 2022-23 season.”

Edited August 12 by Robert

[buckett]

46 minutes ago, Yngwie said:

 So I’m surprised people are surprised!

Doubt if anyone is surprised anymore!

 

[RednBlackComeback]

41 minutes ago, buckett said:

Doubt if anyone is surprised anymore!

 

Agreed.

The club that used to be ICT has been destroyed !

[Achfary]

4 hours ago, Yngwie said:

It’s not a revelation that we haven’t been paying creditors, it’s a matter of public record, and it has been stated that we have accumulated around £300,000 of overdue liabilities and that we’ll be going bust very soon without a substantial cash injection. So I’m surprised people are surprised!

The fact it is an 'exclusive' in a national newspaper... kind of does indicate a 'revelation', no?

It's one thing to leave local businesses worse off after entering into dealings with it, and not minimising that at all.  But leaving other SPFL clubs worse off attracts a very different sort of attention:

• there is the matter of undisclosed fees still due (and given what the board and CEO saw fit to pay its manager, what's the liability?...) 
• there is cumulative interest due (calculated on a daily basis at a rate of 5% per annum over the base rate) according to the rules and regulations of the SPFL on temporary transfers
• there could be an SPFL embargo on any further player registrations '...until such time as the agreement is honoured'
• ICT could be found to have been unfairly trafficking in temporary transfers which puts it in breach of the the rules and regulations of the SPFL (leading to an order to pay the sums owed, or an SPFL inquiry, which in turn could lead to a fine, a points deduction, or any sanction it likes...)

There is a reason to sit up with surprise at this one.  The board have now made an even worse enemy of the club's future.  These funds should have been ring fenced just prior to the signing of the agreement.  There's no excuse.   And when does this turn into gross misconduct - cashing bad cheques all over.

There were nine players on loan (is the breach limited to just two players?)

-Alex Samuel (breach of temporary transfer contract agreement with Ross County)

-Cammy Kerr (breach of temporary transfer contract agreement with Dundee)

• Aribim Pepple (honoured any fee with Luton?)
• Sean McAllister (honoured any fee with Everton?)
• Samson Lawal (honoured any fee with Livingston?)
• Morgan Boyes (honoured any fee with Livingston?)
• Jeremiah Chilokoa-Mullen (honoured any fee with Leeds?)
• James Carragher (honoured any fee with Wigan?)
• Max Anderson (honoured any fee with Dundee?)

What happens if, as is likely, the SPFL's first action is to insist ICT to pay all and any outstanding monies owed to SPFL clubs immediately, and ICT don't?  SPFL just shrug shoulders, say, 'ach'? 

Ah, CEO, with these creditors you are really spoiling us!

 

Edited August 13 by Achfary
grammar

[+Hiro]

To the shock of nobody look out for news in the next few days that this has fallen through. 

 

 

Edited August 13 by Hiro

[CELTIC1CALEY3]

Inverness get relegated. Morrison jumps ship. Gardiner jokes that he has resigned to appease fans.  Club publish accounts and Auditor whilst concerned points out that Directors confirm company is a going concern.  

As a reminder these are the five people who are confident that the company is a going concern...https://ictfc.com/the-board/

They are all smiles and happy.....

[RiG]

Stunned to see the obvious fraud is in fact an obvious fraud. 

[big cherly]

6 hours ago, Achfary said:

The fact it is an 'exclusive' in a national newspaper... kind of does indicate a 'revelation', no?

It's one thing to leave local businesses worse off after entering into dealings with it, and not minimising that at all.  But leaving other SPFL clubs worse off attracts a very different sort of attention:

• there is the matter of undisclosed fees still due (and given what the board and CEO saw fit to pay its manager, what's the liability?...) 
• there is cumulative interest due (calculated on a daily basis at a rate of 5% per annum over the base rate) according to the rules and regulations of the SPFL on temporary transfers
• there could be an SPFL embargo on any further player registrations '...until such time as the agreement is honoured'
• ICT could be found to have been unfairly trafficking in temporary transfers which puts it in breach of the the rules and regulations of the SPFL (leading to an order to pay the sums owed, or an SPFL inquiry, which in turn could lead to a fine, a points deduction, or any sanction it likes...)

There is a reason to sit up with surprise at this one.  The board have now made an even worse enemy of the club's future.  These funds should have been ring fenced just prior to the signing of the agreement.  There's no excuse.   And when does this turn into gross misconduct - cashing bad cheques all over.

There were nine players on loan (is the breach limited to just two players?)

-Alex Samuel (breach of temporary transfer contract agreement with Ross County)

-Cammy Kerr (breach of temporary transfer contract agreement with Dundee)

• Aribim Pepple (honoured any fee with Luton?)
• Sean McAllister (honoured any fee with Everton?)
• Samson Lawal (honoured any fee with Livingston?)
• Morgan Boyes (honoured any fee with Livingston?)
• Jeremiah Chilokoa-Mullen (honoured any fee with Leeds?)
• James Carragher (honoured any fee with Wigan?)
• Max Anderson (honoured any fee with Dundee?)

What happens if, as is likely, the SPFL's first action is to insist ICT to pay all and any outstanding monies owed to SPFL clubs immediately, and ICT don't?  SPFL just shrug shoulders, say, 'ach'? 

Ah, CEO, with these creditors you are really spoiling us!

 

That stalwart body of integrity and principle taking a clear and unambiguous decision to implement the SPFL association rules on one of their member teams not complying with proper financial management.

Well, that would be unprecedented and risk unsettling a lot of other member teams chairmen and boards, not to mention attracting unwanted media focus on the SPFL committee's entitlement, perks and emoluments. 
 

Something like ‘standing up on a boat’ term frantically expressed by them. 

Edited August 13 by big cherly

[+snorbens_caleyman]

After the concert fiasco, I am sure that a lot of local businesses won't go anywhere near ICT.  Now, after defaulting on loan payments, I am sure that a lot of SPFL clubs won't go anywhere near us either.

And, in our hour of need, I wouldn't now expect any favours from the Council.

Fouling one's own nest.

[Charles Bannerman]

3 minutes ago, snorbens_caleyman said:

Fouling one's own nest.

Projectile defecation, more like.