Investment

[Starscape]

5 hours ago, ClickbaitProponent said:

I'm beginning to wonder if Gardiner was out to completely trash the club for some hidden agenda. That would imply Morrison is somehow involved somewhere along the lines. After all, no one is that totally incompetent are they? Certainly not a "seasoned CEO" that's for sure. The question is "What would they stand to gain from the club going under?" Asset stripping but then we don't have many assets. What else could it be?

Hanlon's Razor "Never attribute to malice that which is adequately explained by stupidity"

[ClickbaitProponent]

5 hours ago, Leaky Blinder said:

Probably discovered a passage way straight down to middle earth under the centre circle.

Wouldn't be surprised if Willie Gollum is found to involved as well.

Thats why letting Ketan anywhere near the club was Sauron  ..   

 

It would be a very wet one given our aquifer under the centre circle!

 

[bishbashbosh]

18 hours ago, Yngwie said:

I see Dunfermline’s German backers are looking to sell, which I’m sure will catch the attention of any potential investors we would be trying to entice. Dunfermline would seem a much more attractive investment than a League 1 basket case with huge debts.

Are you sure Yngwie,  Sometimes you reap what you sow. Looks like the supporters were vocal for them to throw money at the team to reach the promised land of the Scottish premiership as we may have done since relegation to the championship.

German football investment group Fussball GmbH has put Dunfermline Athletic up for sale, citing supporter negativity following a poor start to the season and a perceived lack of summer signings.

we have felt for a while now, probably since the middle of last season, that long-term planning and putting in place the building blocks for future success is not what many are looking for,” the statement added.

“Many seem to prefer an investor who has deep pockets to throw at the first team and try for the best over and over again each season.

“We said from the start that we are not this kind of investor and therefore have detected an increasing disappointment in our approach.”

Supporters EH….

[CELTIC1CALEY3]

Incredibly good news.  https://www.bbc.com/sport/football/articles/clyw88kx84xo

[Council Juice]

Anyone know anything about the potential Portuguese investors who've apparently also recently bought Monza? 

Mentioned in here - 

https://www.dailyrecord.co.uk/sport/football/inverness-ct-sir-alex-ferguson-33496575?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar

[Scotty]

Doing a bit of googling and the best I can come up with is the current (actual billionaire) Nottm Forest owner Evangelos Marinakis.

couple of links below but basically wanting to buy AC Monza which is still listed online as belonging to the Berlusconi family but now that Silvio has died, they want rid.

However that doesn’t quite match what Savage has said as he already owns clubs in England, Portugal and Greece  

https://www.tribalfootball.com/article/soccer-serie-a-forest-owner-and-billionaire-marinakis-backed-to-takeover-new-club-in-italy-cf256eed-9f29-4091-b43f-10f6a7497eb1

https://www.nottinghampost.com/sport/football/football-news/nottingham-forest-owner-evangelos-marinakis-9462452.amp

https://en.m.wikipedia.org/wiki/Evangelos_Marinakis
 

 

[Jack Waddington]

43 minutes ago, Scotty said:

Doing a bit of googling and the best I can come up with is the current (actual billionaire) Nottm Forest owner Evangelos Marinakis.

couple of links below but basically wanting to buy AC Monza which is still listed online as belonging to the Berlusconi family but now that Silvio has died, they want rid.

However that doesn’t quite match what Savage has said as he already owns clubs in England, Portugal and Greece  

https://www.tribalfootball.com/article/soccer-serie-a-forest-owner-and-billionaire-marinakis-backed-to-takeover-new-club-in-italy-cf256eed-9f29-4091-b43f-10f6a7497eb1

https://www.nottinghampost.com/sport/football/football-news/nottingham-forest-owner-evangelos-marinakis-9462452.amp

https://en.m.wikipedia.org/wiki/Evangelos_Marinakis
 

 

Yeah, I picked up the same, that Monza were looking for new owners back in March, the wikipedia hasn't changed and still shows the Berlusconis in charge via a company owned by Silvio's eldest daughter.

But it does seem to be conflicting as the Nottingham Forest owner is also looking at taking them on as of 6 Aug and not a sausage is coming up r.e. Portugese owners, and the only results for 'AC Monza Takeover' are the Nottingham Forest owner from this month and Orienta Capital Partners, an Italian holding company, from March.

Nothing on their Twitter, nor their linkedin, and obviously no articles, and I can't imagine its something they'd be sitting on their hands to announce, given its an end of an era for the club

Edited August 20 by Jack Waddington

[STFU]

Trying to cut through the press speculation this is a direct quote from Savage.

“We have a couple of opportunities – a Portuguese company, who have just bought (Serie A side) Monza, and they want to buy a club in England and a club in Scotland as part of their overall plan – Inverness could fit well with them."

Marinakas is greek and already owns an english club so that would seem to rule him out based on the quote.

[ictchris]

Monza were owned by the Berlusconi family, since Silvio died they sold the controlling interest to Orienta Capital Partners, who are an Italian private equity company.

Orienta have a relationship with Faro Alternative Investments - https://www.faroalternativeinvestments.com/orienta-capital-partners/ - who are a Luxemberg based investment group.  Faro is a city in Portugal so maybe the people behind the company are Portugese, this might be who are being refered to.

[CELTIC1CALEY3]

The good news if we do get Portuguese backers is that an easy chant could enter Scotland 

lyrics : ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole ole LOL

 

At kick off Vamos! Possibly 'Ronaldo!' every time we have a shot. Might be time to re-name our Mascot who has not brought much luck recently with goal scoring shots.

[Scotty]

6 hours ago, STFU said:

Trying to cut through the press speculation this is a direct quote from Savage.

“We have a couple of opportunities – a Portuguese company, who have just bought (Serie A side) Monza, and they want to buy a club in England and a club in Scotland as part of their overall plan – Inverness could fit well with them."

Marinakas is greek and already owns an english club so that would seem to rule him out based on the quote.

Yep, that's the bit that doesn't add up for me. 

 

2 hours ago, ictchris said:

Monza were owned by the Berlusconi family, since Silvio died they sold the controlling interest to Orienta Capital Partners, who are an Italian private equity company. Orienta have a relationship with Faro Alternative Investments - https://www.faroalternativeinvestments.com/orienta-capital-partners/ - who are a Luxemberg based investment group.  Faro is a city in Portugal so maybe the people behind the company are Portugese, this might be who are being refered to.

That makes more sense, but if I am to be honest, whenever I hear the term "equity", "capital" or "venture" in a company name or description I worry. Experience in the engineering software industry has taught me that in almost all cases, an equity company taking over the parent company of a popular product has led to its demise, either directly because they liquidate the company immediately, or because the company increase costs to customers exponentially, get what they can while shedding customers left and right, then get out as the company dies a slow death. I have to look at it with cynical specs on and ask "What's in it for the buyer?" In ICT stakes, realistically it can only be one thing, the land. 

Given the effort that AS has put into the club in less than a week, and the fact that he is locally based, is a former chairman, and seems to be pretty transparent so far, then I am willing to trust that he knows far more about any potential bidders/owners than we do and is willing to ask the alternate question of "What's in it for ICT in the long term?" If we can get something that smells right and perhaps ticks boxes for both buyer and club, then great. Otherwise, we move on and keep looking.     

[+snorbens_caleyman]

6 minutes ago, Scotty said:

That makes more sense, but if I am to be honest, whenever I hear the term "equity", "capital" or "venture" in a company name or description I worry. ....

Given the effort that AS has put into the club in less than a week, and the fact that he is locally based, is a former chairman, and seems to be pretty transparent so far, then I am willing to trust that he knows far more about any potential bidders/owners than we do and is willing to ask the alternate question of "What's in it for ICT in the long term?" If we can get something that smells right and perhaps ticks boxes for both buyer and club, then great. Otherwise, we move on and keep looking.     

I agree.  When Makwana rocked up, I said that the first thing that a venture capitalist does when they acquire something is work out their exit strategy, including what they can get out of the venture.

And it has occurred to me that, ironically, the people who AS is lining up to possibly take over may have the same ideas as Makwana - development of the site, etc.  One hopes that they will be much more credible.

[The Long Man]

Will we never learn? The dream of outside investors with big pockets is a much trodden path for small teams, very few, if any, which benefit, and many are left ruing the day they signed up. We have just escaped a potentially catastrophic example, no need to rush into a repeat. By far the best way forward for teams like us is to build a sustainable model, not dependent on outsiders who have far different motives and reasons for 'investing'.

[+old caley girl]

Think we need to all calm down and wait and see? Bills and wages need paid from somewhere. I trust Alan Savage and Co to get this right until proved otherwise 

[STFU]

I can't see Savage coming in the way he has and putting money in to simply hand everything over to someone where there's a possibility they're going to do us over.

 

[Scotty]

1 hour ago, STFU said:

I can't see Savage coming in the way he has and putting money in to simply hand everything over to someone where there's a possibility they're going to do us over.

I agree. Thats why I said I am willing to put trust in him that he knows the potential investors better than we do and will do due diligence. 

[buckett]

19 hours ago, The Long Man said:

Will we never learn? The dream of outside investors with big pockets is a much trodden path for small teams, very few, if any, which benefit, and many are left ruing the day they signed up. We have just escaped a potentially catastrophic example, no need to rush into a repeat. By far the best way forward for teams like us is to build a sustainable model, not dependent on outsiders who have far different motives and reasons for 'investing'.

The most sensible post so far on this thread.

We can all dream of millionaire "investors" for the club but the reality is that an investor would seek a return, and a club based in a relatively small city like Inverness, with a weekly attendance of around 2000 on a good day, is unlikely to turn an overall profit.

We rely on donors rather than investors, and donations to maintain a club in League 1, with perhaps the occasional foray into the Championship are reasonably affordable and within the scope of fairly well-off local supporters who donate to keep the club alive.

Perhaps this is an avenue worthy of investigation. Are there more local supporters with a bit of spare cash who would like to throw it at the club to keep the Inverness name relevant in Scottish football? And are maybe wondering how to go about it? I think the Supporters' Trust was trying something like that a wee while ago - perhaps time to pick up some momentum!

[robbo1985]

Does anyone know if the new strips are available in the club shop now?

[ictchris]

More details in the Courier today about the Portugese company.

https://www.inverness-courier.co.uk/sport/portuguese-wealth-management-firm-ready-to-pump-2-5-million-359019/

Doesn't sound like it's the company referred to above.  For those who can't see the article

Quote

 

Portuguese investors are ready to pump £2.5 million into Caley Thistle if a deal can be struck.

It is understood the wealth management company, with a base in Lisbon but multiple international offices and footballing interests, has provided a letter of intent detailing that cash sum to the Inverness club’s representatives.

 

The Portuguese company already has footballing interests in Portugal, Italy, Spain and Brazil, as well as other parts of Latin America, and have a strong interest in developing young players.

A triangulation formula using loan deals for young talents is part of their ethos, raising the possibility of young Brazilian or Portuguese players pulling on the Caley Thistle jersey.

 

 

The article goes on to say that the Chinese investors had to withdraw their interest due to reglations preventing them investing in the UK.  And also, to the surprise of no-one, Ketan Makwana did not provide any proof of funds to the club during his bid.  

[Scotty]

A couple of key comments in that article for me ....

Quote

"A triangulation formula using loan deals for young talents is part of their ethos, raising the possibility of young Brazilian or Portuguese players pulling on the Caley Thistle jersey."

That was the basis of the Canadian interest I presented to the chairman back in 2019. They did not want to buy the club, but wanted to assist in the youth setup, possibly lend players to the club to develop them for their home club, or for a possible sell-on in Europe. They would also use their extensive media and entertainment experience in North America to help them with commercial advice and/or ideas. ICT would be one of a number of clubs they intended to work with in various continents with the aim being that they as the parent club would benefit from all of the relationships in some way. ICT did not respond to the person, then COVID happened so it may not have come to fruition anyway, and the opportunity (as well as that person) have moved on now so that ship has well and truly sailed.   

However, this sounds similar, and if that's the case here, and the interested party wants a football relationship that can be symbiotic in some fashion and bring something to the table for everyone then this could indeed be great news. It's definitely better than an out and out takeover by an equity firm that's for sure. 

 

Quote

"Meanwhile, Mr Savage has told manager Duncan Ferguson he is now prepared to fund a small number of signings in the short-term to bolster his squad before the transfer window closes at the end of this month."

This speaks volumes. We know he has already stuck £200K in last week to keep the lights on, but pumping more money in seems to suggest some level of confidence under all the rocks he has overturned during his audit. 

[CaleyCiuin]

53 minutes ago, Scotty said:

A couple of key comments in that article for me ....

That was the basis of the Canadian interest I presented to the chairman back in 2019. They did not want to buy the club, but wanted to assist in the youth setup, possibly lend players to the club to develop them for their home club, or for a possible sell-on in Europe. They would also use their extensive media and entertainment experience in North America to help them with commercial advice and/or ideas. ICT would be one of a number of clubs they intended to work with in various continents with the aim being that they as the parent club would benefit from all of the relationships in some way. ICT did not respond to the person, then COVID happened so it may not have come to fruition anyway, and the opportunity (as well as that person) have moved on now so that ship has well and truly sailed.   

However, this sounds similar, and if that's the case here, and the interested party wants a football relationship that can be symbiotic in some fashion and bring something to the table for everyone then this could indeed be great news. It's definitely better than an out and out takeover by an equity firm that's for sure. 

 

This speaks volumes. We know he has already stuck £200K in last week to keep the lights on, but pumping more money in seems to suggest some level of confidence under all the rocks he has overturned during his audit. 

 Likely funded by wage cuts and other savings. 

[tm4tj]

Latest from Paul Chalk at P&J is that Alan Savage is in "no rush to sell the club now"  and "as long as I pay the bills, why do we need to dash into anything?

“For better or worse, the club is under my control, probably for quite a while. The mission is to do it game by game".

Alex Ferguson has not provided any financial funds to the club but has offered advice.

 

The transparency is almost frightening compared to the clandestine dealings we were subjected to over the last few seasons.

This man is an absolute legend. 

[Scotty]

As we posted on our twitter account - a breath of fresh air! 

I am sure there will be stuff we disagree with him on as time goes on, but no-one can say he is just talking the talk, he is shooting from the hip, regardless if it offends our former CEO or the previous would-be 'owner' and putting some of his own money in. 

Thank You Alan Salvage™ (misspelling intended)

 

[CaleyTennis85]

Should we be worried about these Portuguese people walking away from the deal if they have to wait 2+ months or I'm I unnecessarily worrying ?

[CaleyCanary]

With the way AS is steadying the ship, and the historic debt gone, I don’t think we need to worry about losing anyone’s interest in the short term.

I’m confident we’re now in safe hands and feel if it takes a wee bit longer to secure a decent deal with a responsible, respectable and resilient new investor then it’s all good