Investment

[ymip]

Was today not the deadline given by our illustrious board for the takeover/investment to be concluded? 

Usual tumbleweed scenes ensue.....who'd have thunk it.

[buckett]

52 minutes ago, ymip said:

Was today not the deadline given by our illustrious board for the takeover/investment to be concluded? 

Usual tumbleweed scenes ensue.....who'd have thunk it.

Wouldn't be getting too optimistic, but, you never know . . . !

[bigterrybutcher]

Still waiting on new strips, still waiting on new season ticket card for my youngster , still waiting on confirmation on my offer of sponsorship, that will tell you where we are one would think

 

[tm4tj]

35 minutes ago, ymip said:

Was today not the deadline given by our illustrious board for the takeover/investment to be concluded? 

Usual tumbleweed scenes ensue.....who'd have thunk it.

I believe it was an exclusive early bird offer that was up for grabs today.

[Scotty]

2 hours ago, ymip said:

Was today not the deadline given by our illustrious board for the takeover/investment to be concluded? 

Usual tumbleweed scenes ensue.....who'd have thunk it.

I am aware there was a board meeting today ... no idea of the result. 

[Jack Waddington]

Doesn't make any difference. The board only make announcements on otherwise irrelevant things.

[buckett]

49 minutes ago, Jack Waddington said:

Doesn't make any difference. The board only make announcements on otherwise irrelevant things.

. . . . and when they want your money!

[+snorbens_caleyman]

2 hours ago, Scotty said:

I am aware there was a board meeting today ... no idea of the result. 

Pretty sure the board won't have any idea either  

[SMEE]

STATEMENT FROM ICT BOARD OF DIRECTORS:

The Board of Directors of Inverness Caledonian Thistle Football Club can confirm that they have accepted an offer for a majority shareholding in the club.

The club have been involved in intensive discussions with Seventy7 Ventures, a UK-based sports, entertainment and leisure group and are confident their investment will secure the future of the club.

Panos Thomas, spokesperson for the Board of Directors, said: “We have received a formal offer to acquire a major shareholding and voting rights of the company and this has been unanimously accepted by the Board."

"Ketan Makwana, the Executive Chairman of Seventy7 Ventures has been a most dynamic suitor for the club in the past few weeks and following the most recent meeting with him in Inverness when he outlined his vision and passion for what the club could become, it was clear those plans and the financial backing of Seventy7 Ventures will give ICTFC the best opportunity to flourish again. This is very good news for the club as we strive to establish a more sustainable business and build a team that will in the first instance, return us to the SPFL Championship.”

Ketan Makwana, Executive Chairman of Seventy7 Ventures, said: "We at Seventy7 are delighted to have achieved this result, we want to thank the Board, Chief Executive and former Chairman for their continuous workability and open mindedness to see our vision of the future for the Football Club and the community of Inverness. We are relishing the opportunity to drive sustainability and growth in the Club and lead them to future prosperity."

More information will be released in the coming days and weeks and again on the legal completion of the deal.

[STFU]

Devil will be in the detail but it has to be better than the existing situation although I'm told Gardiner is to be 're-hired' by the new group.

[SMEE]

3 minutes ago, STFU said:

 although I'm told Gardiner is to be 're-hired' by the new group.

Surely you are on the wind up? If true, the club are screwed, on MANY levels!

[STFU]

5 minutes ago, SMEE said:

Surely you are on the wind up? If true, the club are screwed, on MANY levels!

It's not a concrete source but they are close to an existing board member.

[+Hiro]

6 minutes ago, SMEE said:

Surely you are on the wind up? If true, the club are screwed, on MANY levels!

It seems to have been doing the rounds almost week   I've heard the same from separate unconnected people.

I am very very cautious about this takeover.  I can't see where these investors have made their money (if they have any) or why they would be in any way interested in ICT.  They don't appear to have the type of money where we can even be their little plaything on the side. I'll give them a chance though.

[+Hiro]

5 minutes ago, Hiro said:

It seems to have been doing the rounds almost week   I've heard the same from separate unconnected people.

I am very very cautious about this takeover.  I can't see where these investors have made their money (if they have any) or why they would be in any way interested in ICT.  They don't appear to have the type of money where we can even be their little plaything on the side. I'll give them a chance though.

Yep, a cursory search reveals a few red flags. They even have the obligatory crypto company in the portfolio.

I see that he also owns Hayes & Yeading (just relegated to 8th tier) yet doesn't appear as a director on companies house or as a person of significant control  

Edited July 26 by Hiro

[ictchris]

Massive red flags.  The guy tried to buy Hayes and Yeading FC but not sure what came of it.  He seems to be a businss speaker rather than running any actual companies.  He is involved in crypto currency, which is not a reliable market.

 

[ictchris]

Here's his LinkedIn

AboutAbout

With extensive career experience in IT, Electronics & Healthcare, Ketan moved into self-employment and entrepreneurship in 2009 during the economic crash.

Since then Ketan has successfully launched, scaled and sold multiple ventures in the recruitment and marketing verticals; in 2011 Ketan launched Enterprise Lab - a talent and business innovation agency operating in 26 countries with a network of 250 experienced professionals delivering in their niche; in 2022, Enterprise Lab got acquired by the Innovation arm of European Central Bank

In 2021 during the core of the pandemic, Ketan co-founded Seventy7 Ventures a platform that focuses on the digital and technology acceleration of the Creative Industries offering Strategic Consulting, Capital Raising and Venture Partnering services. Seventy7 Ventures was awarded the Best of British Business 2023 by The Independent for its impact on British Businesses.

Ketan has served as a Special Advisor to a UK Prime Minister and a former President; he is regularly involved in economic policy shaping for several governments with a high focus on digital economy.

Ketan is a renowned international speaker having delivered keynotes across 5 continents and 42 cities.

[CELTIC1CALEY3]

https://find-and-update.company-information.service.gov.uk/company/13599988

Looks like they speak a good case.  In terms of due diligence, somebody at the Club must have seen evidence of their capital that is not evident within their small company accounts for what is basically a one man band.

[Scotty]

17 minutes ago, STFU said:

I'm told Gardiner is to be 're-hired' by the new group.

If that's the case, then we are still shuffling deckchairs on the Titanic.

This man must be gone as part of any deal. He should be gone already, and anything that extends his stay is pure folly. The fans do not like him, the staff do not like him, the players do not like him, and his record at other club's mirrors his record with us. All credit to him for managing to cling on by his fingernails in this situation. I just don't know how he does it.   I do know however that this site, and myself personally, will not raise a single penny in sponsorship nor spend a penny on merchandise while he is employed by it. It is non-negotiable.

 

 

 

[Jack Waddington]

1 minute ago, CELTIC1CALEY3 said:

https://find-and-update.company-information.service.gov.uk/company/13599988

Looks like they speak a good case.  In terms of due diligence, somebody at the Club must have seen evidence of their capital that is not evident within their small company accounts for what is basically a one man band.

Have to also consider the fact that we have a CEO who forgot to buy seats for a football stadium. Hardly the brighest bulb in the drawer when it comes to finances

[Scotty]

2 minutes ago, CELTIC1CALEY3 said:

https://find-and-update.company-information.service.gov.uk/company/13599988

Looks like they speak a good case.  In terms of due diligence, somebody at the Club must have seen evidence of their capital that is not evident within their small company accounts for what is basically a one man band.

This does not fill me full of confidence. 

[STFU]

Let's wait and see without going all google warrior on the guy.  There's very few successful business people who don't have a few red flags including some who have been very good to us in the past.

[RednBlackComeback]

[hislopsoffsideagain]

After forensically examining the company and the people involved (and definitely not just googling for the last half an hour and seeing what I can find) I share the concerns of others.

 

I'm also not entirely sure how they manage to acquire a majority shareholding, unless either there's an agreement to buy out a dozen or more of the people/groups who own the most shares, or if there is a new share issue that allows them to gain equity for their investment?

[CELTIC1CALEY3]

Just now, Scotty said:

This does not fill me full of confidence. 

https://seventy7.ventures/our-story Maybe this does though!!!

[Satan]

Might get a (quality)match day live stream at least