Investment

[CaleyCanary]

…if the Makwana deal hadn’t been stopped in its tracks then I don’t think the club would have survived until the end of the season.

[Scotty]

14 minutes ago, CaleyCanary said:

…if the Makwana deal hadn’t been stopped in its tracks then I don’t think the club would have survived until the end of the season September

fixed it for ya. 

[Pele_Is_God]

I fear Administration is now inevitable hearing latest news.

[Hearach]

The man is a chancer and I won’t panic until I hear the response from the club

[+snorbens_caleyman]

14 minutes ago, Pele_Is_God said:

I fear Administration is now inevitable hearing latest news.

Gonnae tell us exiles exactly what that is?

[Hearach]

Ex CEO now claiming £120,000

[+Fraz]

Ex-Caley Thistle chief executive Scot Gardiner doubles claim against club to £140,000

www.pressandjournal.co.uk

Caley Thistle’s former chief executive Scot Gardiner has doubled his demand from the club, claiming he is owed £140,000.

Club consultant Alan Savage warns that sum could soar further, making administration a real possibility as he seeks to find an investor for Inverness.

Former ICT chairman Savage was drafted in last month by interim chairman Panos Thomas to “take charge of the struggling Highland club to put the team in a firm financial position”.

The Orion Group chief has been paying immediate bills and has ploughed in more than £200,000 to ensure ICT remain operational with staff wages also covered.

The threat of administration has not vanished, despite earlier hopes that key former shareholders turning loans into equity or writing off loans would stave off the fears.

Inverness’ consultant and former chairman Alan Savage during Wednesday’s press conference. Image: Rob Casey/SNS.

Loan money plea is hotly disputed

Last Friday former Caley Jags CEO Gardiner, who left the club as a result of Savage’s arrival in August, sent sheriff officers to the Caledonian Stadium.

Gardiner, who spent five years with Inverness, said he is owed £70,000 in loan repayments.

Savage claims £50,000 relates to money loaned to Inverness Caley Thistle Concert Company Ltd with the remaining £20,000 loaned to the club.

A three-week period has begun for ICT to respond to Gardiner’s loan claims.

However, Gardiner has also now claimed he is owed wages for a 12-month notice period, increasing his overall claim to around £140,000, according to Savage.

Gardiner resigned in early June of this year, but remained in place to work as the club sought investment opportunities. That ended with Savage’s arrival last month.

‘He’s putting the club on the brink’

Savage told The Press and Journal: “We’ve had a letter (from Scot Gardiner’s lawyers) and they’re now claiming he’s due (money for) a year’s notice period.

“This is on the back of a contract he says (former chairman) Ross Morrison approved and he’s looking for a sum of the region of £140,000 plus I’d expect damages on top.

“It seems the club have accepted his resignation. The Glasgow-based lawyer for Scot Gardiner says because the club accepted his resignation, it accepted a contract (with a 12-month notice period) exists between the club and him.

Former Caley Thistle chairman Ross Morrison. Image: SNS.

“What should have happened is (the resignation letter) should have been sent to a lawyer to find out what should be done about it.

“I will still be responsible for the £70,000, but if the club adds a legal bill on, I think you’d be looking at £175,000.

“That’s £175,000 for Scot Gardiner, who failed to deal with the paperwork which could have made the club part of the freeport, which would have made this club money.

“In my eyes, he’s been incompetent, yet he’s putting this club on the brink of administration. He’s someone who failed on so many fronts at this club.

“But we will fight this. Even if it happens, administration is not the end for Caley Thistle. It could be the beginning of the recovery.

“I would look after the club through administration and post-administration.”

Savage will spend the coming days speaking with his lawyers and plans to hold a press conference on Tuesday to further update supporters.

Investment plans remain active

Savage says the League One side, relegated from the Championship in May, must land investment of at least £1.6 million to get them into next season.

Income from the controversial battery farm in the city’s Fairways depends on the goodwill of former directors David Cameron and Allan Munro and ex-club chairman Ross Morrison, who own the operating licence.

Savage hopes investment through a battery farm agreement could land the club a lifeline £2m, while crowdfunding remains an option they are actively looking at.

The club’s draft accounts show a loss for 2023-24 of £1.7 million. The loss for the year ended May 30, 2023 was £588,053.

Gardiner has been contacted for comment.

[big cherly]

27 minutes ago, Fraz said:

Ex-Caley Thistle chief executive Scot Gardiner doubles claim against club to £140,000

www.pressandjournal.co.uk

Caley Thistle’s former chief executive Scot Gardiner has doubled his demand from the club, claiming he is owed £140,000.

Club consultant Alan Savage warns that sum could soar further, making administration a real possibility as he seeks to find an investor for Inverness.

Former ICT chairman Savage was drafted in last month by interim chairman Panos Thomas to “take charge of the struggling Highland club to put the team in a firm financial position”.

The Orion Group chief has been paying immediate bills and has ploughed in more than £200,000 to ensure ICT remain operational with staff wages also covered.

The threat of administration has not vanished, despite earlier hopes that key former shareholders turning loans into equity or writing off loans would stave off the fears.

Inverness’ consultant and former chairman Alan Savage during Wednesday’s press conference. Image: Rob Casey/SNS.

Loan money plea is hotly disputed

Last Friday former Caley Jags CEO Gardiner, who left the club as a result of Savage’s arrival in August, sent sheriff officers to the Caledonian Stadium.

Gardiner, who spent five years with Inverness, said he is owed £70,000 in loan repayments.

Savage claims £50,000 relates to money loaned to Inverness Caley Thistle Concert Company Ltd with the remaining £20,000 loaned to the club.

A three-week period has begun for ICT to respond to Gardiner’s loan claims.

However, Gardiner has also now claimed he is owed wages for a 12-month notice period, increasing his overall claim to around £140,000, according to Savage.

Gardiner resigned in early June of this year, but remained in place to work as the club sought investment opportunities. That ended with Savage’s arrival last month.

‘He’s putting the club on the brink’

Savage told The Press and Journal: “We’ve had a letter (from Scot Gardiner’s lawyers) and they’re now claiming he’s due (money for) a year’s notice period.

“This is on the back of a contract he says (former chairman) Ross Morrison approved and he’s looking for a sum of the region of £140,000 plus I’d expect damages on top.

“It seems the club have accepted his resignation. The Glasgow-based lawyer for Scot Gardiner says because the club accepted his resignation, it accepted a contract (with a 12-month notice period) exists between the club and him.

Former Caley Thistle chairman Ross Morrison. Image: SNS.

“What should have happened is (the resignation letter) should have been sent to a lawyer to find out what should be done about it.

“I will still be responsible for the £70,000, but if the club adds a legal bill on, I think you’d be looking at £175,000.

“That’s £175,000 for Scot Gardiner, who failed to deal with the paperwork which could have made the club part of the freeport, which would have made this club money.

“In my eyes, he’s been incompetent, yet he’s putting this club on the brink of administration. He’s someone who failed on so many fronts at this club.

“But we will fight this. Even if it happens, administration is not the end for Caley Thistle. It could be the beginning of the recovery.

“I would look after the club through administration and post-administration.”

Savage will spend the coming days speaking with his lawyers and plans to hold a press conference on Tuesday to further update supporters.

Investment plans remain active

Savage says the League One side, relegated from the Championship in May, must land investment of at least £1.6 million to get them into next season.

Income from the controversial battery farm in the city’s Fairways depends on the goodwill of former directors David Cameron and Allan Munro and ex-club chairman Ross Morrison, who own the operating licence.

Savage hopes investment through a battery farm agreement could land the club a lifeline £2m, while crowdfunding remains an option they are actively looking at.

The club’s draft accounts show a loss for 2023-24 of £1.7 million. The loss for the year ended May 30, 2023 was £588,053.

Gardiner has been contacted for comment.

Wish the forensic checks started with including what the contractural and legal position was with Gardiner before AS showed him the door. Hope I’m wrong but I cant think this is going to serve anyone but SG in the long term. 

[CaleyCiuin]

37 minutes ago, Fraz said:

Ex-Caley Thistle chief executive Scot Gardiner doubles claim against club to £140,000

www.pressandjournal.co.uk

Caley Thistle’s former chief executive Scot Gardiner has doubled his demand from the club, claiming he is owed £140,000.

Club consultant Alan Savage warns that sum could soar further, making administration a real possibility as he seeks to find an investor for Inverness.

Former ICT chairman Savage was drafted in last month by interim chairman Panos Thomas to “take charge of the struggling Highland club to put the team in a firm financial position”.

The Orion Group chief has been paying immediate bills and has ploughed in more than £200,000 to ensure ICT remain operational with staff wages also covered.

The threat of administration has not vanished, despite earlier hopes that key former shareholders turning loans into equity or writing off loans would stave off the fears.

Inverness’ consultant and former chairman Alan Savage during Wednesday’s press conference. Image: Rob Casey/SNS.

Loan money plea is hotly disputed

Last Friday former Caley Jags CEO Gardiner, who left the club as a result of Savage’s arrival in August, sent sheriff officers to the Caledonian Stadium.

Gardiner, who spent five years with Inverness, said he is owed £70,000 in loan repayments.

Savage claims £50,000 relates to money loaned to Inverness Caley Thistle Concert Company Ltd with the remaining £20,000 loaned to the club.

A three-week period has begun for ICT to respond to Gardiner’s loan claims.

However, Gardiner has also now claimed he is owed wages for a 12-month notice period, increasing his overall claim to around £140,000, according to Savage.

Gardiner resigned in early June of this year, but remained in place to work as the club sought investment opportunities. That ended with Savage’s arrival last month.

‘He’s putting the club on the brink’

Savage told The Press and Journal: “We’ve had a letter (from Scot Gardiner’s lawyers) and they’re now claiming he’s due (money for) a year’s notice period.

“This is on the back of a contract he says (former chairman) Ross Morrison approved and he’s looking for a sum of the region of £140,000 plus I’d expect damages on top.

“It seems the club have accepted his resignation. The Glasgow-based lawyer for Scot Gardiner says because the club accepted his resignation, it accepted a contract (with a 12-month notice period) exists between the club and him.

Former Caley Thistle chairman Ross Morrison. Image: SNS.

“What should have happened is (the resignation letter) should have been sent to a lawyer to find out what should be done about it.

“I will still be responsible for the £70,000, but if the club adds a legal bill on, I think you’d be looking at £175,000.

“That’s £175,000 for Scot Gardiner, who failed to deal with the paperwork which could have made the club part of the freeport, which would have made this club money.

“In my eyes, he’s been incompetent, yet he’s putting this club on the brink of administration. He’s someone who failed on so many fronts at this club.

“But we will fight this. Even if it happens, administration is not the end for Caley Thistle. It could be the beginning of the recovery.

“I would look after the club through administration and post-administration.”

Savage will spend the coming days speaking with his lawyers and plans to hold a press conference on Tuesday to further update supporters.

Investment plans remain active

Savage says the League One side, relegated from the Championship in May, must land investment of at least £1.6 million to get them into next season.

Income from the controversial battery farm in the city’s Fairways depends on the goodwill of former directors David Cameron and Allan Munro and ex-club chairman Ross Morrison, who own the operating licence.

Savage hopes investment through a battery farm agreement could land the club a lifeline £2m, while crowdfunding remains an option they are actively looking at.

The club’s draft accounts show a loss for 2023-24 of £1.7 million. The loss for the year ended May 30, 2023 was £588,053.

Gardiner has been contacted for comment.

FFS !!!!!! 

[LisleRightPeg]

OMG this is a mess. 

[Yngwie]

It’s an absolute sickener that SG will get this money. But come on, did Savage and the Board really think that the CEO could be punted without having a lengthy notice period to be paid in full?   The one contract you can be sure he secured was his own.

[IBM]

37 minutes ago, Yngwie said:

It’s an absolute sickener that SG will get this money. But come on, did Savage and the Board really think that the CEO could be punted without having a lengthy notice period to be paid in full?   The one contract you can be sure he secured was his own.

Unless the forensic audit picks up something on him 

[STFU]

The only way to ensure he doesn't get a penny is to put the club into administration and I think that's what savage is getting at.

[CELTIC1CALEY3]

8 hours ago, STFU said:

The only way to ensure he doesn't get a penny is to put the club into administration and I think that's what savage is getting at.

Going into administration, to avoid paying SG, is hopefully not a top choice. 

 

[RiG]

Did the ICT Concert Company get dissolved and consequently absolve itself of pay suppliers all those months ago? Can't see how Gardiner gets money back from that when all those contractors and suppliers got hee haw (if what I've said is correct and there is a good chance it isn't).

[big cherly]

11 hours ago, Yngwie said:

It’s an absolute sickener that SG will get this money. But come on, did Savage and the Board really think that the CEO could be punted without having a lengthy notice period to be paid in full?   The one contract you can be sure he secured was his own.

Spot on Wygwie, Gardeners Contract was checked out both by an independent advisor and a central belt solicitor when the Mahwana show was in full swing and it was found to be watertight.  The exposure of risk and potential for come back was known then, so I’m not surprised in any way where we are now.
AS knew this would happen I’m sure. We’ll get through it eventually and end up paying Gardiner something. We the fans may be asked by sources to contribute to help reach any overspend. 

[Yngwie]

7 minutes ago, big cherly said:

We’ll get through it eventually and end up paying Gardiner something. We the fans may be asked by sources to contribute to help reach any overspend. 

I’m chuckling at the thought of someone launching a crowdfunding appeal to help SG. It’s almost worth doing just to see the comments it would attract. 

[+old caley girl]

Just now, Yngwie said:

I’m chuckling at the thought of someone launching a crowdfunding appeal to help SG. It’s almost worth doing just to see the comments it would attract. 

Totally agree

[big cherly]

There’s many ways to ‘skin a cat’ so the saying goes! 
Ignorance is bliss, just keep buying the merchandise!  

[Scotty]

2 hours ago, Yngwie said:

I’m chuckling at the thought of someone launching a crowdfunding appeal to help SG. It’s almost worth doing just to see the comments it would attract. 

May not reach its target quite as quickly as Aaron Doran's!! 

This conversation does however highlight one area where our former CEO has succeeded, and on that front, he has succeeded beyond his wildest dreams. He has managed to get an entire city, not just the supporters of the club, to revile and despise him and that loathing also spreads nationally and internationally. I guess Dundee and Hearts were just the warmup. Personally, anytime I hear the name, I seethe more than Derek Adams on a bad day. 

I guess he is trying to get every penny he can out of us, because unless it is Ketan, then a quick google of his name would bring up so many red flags that any employer in almost any field should quickly say no thanks. Or will he use that £140K to fund his lawyers to get google to remove him from search results. 

I really hope AS finds something in the forensic audit to wipe the smirk of his face, or maybe we can charge him a £20 admin fee for each of the 7000 unread emails? and, it has to be said, who in the **** accepted a 12 month notice period from anyone. If you would not put someone on 12-month notice, then you don't accept a resignation with that term.  We tossed players aside like rubbish, yet the one position that should have been put in the dustbin is lining up for a golden handshake. feckin' unbelievable. 

 

 

[+Fraz]

Sadly, if we had any kind of half competent board in place over the last few years it would have never come to this as it would have been picked up and he would have been fired long ago due to his gross incompetence. 

It was pretty clear after a year or two that Gardiner was not only utterly useless but was actively holding ICT back. 

[+snorbens_caleyman]

Quote

 

Savage told The Press and Journal: “We’ve had a letter (from Scot Gardiner’s lawyers) and they’re now claiming he’s due (money for) a year’s notice period.

“This is on the back of a contract he says (former chairman) Ross Morrison approved and he’s looking for a sum of the region of £140,000 plus I’d expect damages on top.

“It seems the club have accepted his resignation. The Glasgow-based lawyer for Scot Gardiner says because the club accepted his resignation, it accepted a contract (with a 12-month notice period) exists between the club and him.

 

This all looks so odd.

1)  Can't they just ask Morrison if he approved Gardiner's contract?

2) The lawyer appears to be saying that it was not until Gardiner resigned that the existence of the contract, with 12-month notice period, was established or formalised.

3)  Surely the contract - with signatures - should be on file at the club?

Curiouser and curiouser...

 

 

 

[big cherly]

3 minutes ago, snorbens_caleyman said:

This all looks so odd.

1)  Can't they just ask Morrison if he approved Gardiner's contract?

2) The lawyer appears to be saying that it was not until Gardiner resigned that the existence of the contract, with 12-month notice period, was established or formalised.

3)  Surely the contract - with signatures - should be on file at the club?

Curiouser and curiouser...

 

 

 

Look forward to the ex Chairman and members of the Board being dragged in to clarify SG’s lawyer’s assertion he/they knew fully the ex CEO’s contract terms extension and endorsed it unanimously.

Or, maybe they were acting and relying on the strength of the ex Chairman assurances? No, they wouldn’t be that gullible??  
 

[Charles Bannerman]

23 minutes ago, Fraz said:

Sadly, if we had any kind of half competent board in place over the last few years it would have never come to this as it would have been picked up and he would have been fired long ago due to his gross incompetence. 

It was pretty clear after a year or two that Gardiner was not only utterly useless but was actively holding ICT back. 

That’s an absolutely vital consideration. There are two issues here. Sure, Gardiner has been a complete shitshow in every conceivable facet of his involvement with this club, but he would never have been in a position to wreak any of that havoc if he had been properly supervised and controlled (as any employee should be) by the Board, and in particular the Chairmen he worked under. Given the extent of that havoc, it must surely have been painfully obvious from an early stage, so were there not clear grounds for dismissal on the grounds of incompetence?

Neither of the Chairmen who should have been overseeing his activities is still in post, but should at least some still-serving Board members not be accepting corporate responsibility for this mess and considering their positions?

[CELTIC1CALEY3]

Charles, you may be correct, but unless there is something we do not know, SG left with a clean disciplinary record.