Admin by Oct 16th - It's here now!

[Yngwie]

We also had income of £92,000 from player trading, with no further details provided.

[Scotty]

Starting to read through it ... but first thing that jumps out to me is 

 

[Ken Ross]

2 hours ago, Yngwie said:

We also had income of £92,000 from player trading, with no further details provided.

Keith Bray ?

[CELTIC1CALEY3]

Alan Savage in the P and J today quoted as saying '

“We’ve now reached 95% backing from shareholders (for his offer) and it shows people are getting right behind the club again.

“We’re getting closer to the finish line, and I’d encourage the few who have yet to sign their forms (for administrators BDO) to do so in order to allow my deal to happen.”

Trust share transfer was key moment

The supporters’ trust, who have 730 members, have a shareholding in the football club with enhanced voting rights of approximately 10%.

A special general trust meeting was held last week, after which a trust statement said: “We are pleased to confirm that the resolution to transfer the trust’s shareholding in the club to FC Inverness Limited was agreed.

“This transfer is subject to the club exiting administration, with the CVA meeting of creditors taking place on May 22.

 

“A lot of work has clearly gone on behind the scenes to resolve the issues that have prolonged administration, relating to the disparate shareholding, the loans and the ownership of the car parks. We hope that everything comes together on May 22 with the CVA being agreed.

“Credit must go to Alan Savage for funding the club through the difficult administration period and having the confidence to look to buy it.”

[Satan]

I've heard the 22nd May date has been pushed back to June...any confirmation??

[Pele_Is_God]

Source?

[LisleRightPeg]

10 hours ago, Satan said:

I've heard the 22nd May date has been pushed back to June...any confirmation??

Worrying if true

[CaleyCiuin]

If true, could affect when any potential new players could be signed up. Currently only 14/15 confirmed for next season, and most of those are young players. ! 

[KennySim93]

Said this before during the admin process, but I really wish people wouldn't say things if they don't have solid info they can point to.  "I've heard" - who from?  When?  What's the point in causing unnecessary worry based on nothing but rumour?

[SMEE]

How many of that remaining 5% of shareholders are stil alive? Im pretty sure my Dad had at least a share in ICT.....but he passed away 9 years ago.

[+snorbens_caleyman]

26 minutes ago, SMEE said:

How many of that remaining 5% of shareholders are stil alive? Im pretty sure my Dad had at least a share in ICT.....but he passed away 9 years ago.

You'd assume that the administrators and Savage are aware that there will be a tiny proportion of the shares that they will never be able to acquire.

You'd assume that... but on the other hand I was recently reading an interview with JJ Burnel, the last of the original Stranglers.  Apparently he'd been on breakfast TV earlier, and they had asked him if he kept in touch with former members.

"Only through a medium!", said he 

[Yngwie]

1 hour ago, SMEE said:

How many of that remaining 5% of shareholders are stil alive?

Any such shares should have become the property of beneficiaries of the will - it’s just that executors probably didn’t know about these shareholdings, or didn’t think it was worth doing anything about as the shares had no real monetary value, and as a result the club has never been informed of a change in share ownership.

[+Fraz]

https://www.inverness-courier.co.uk/sport/delay-to-meeting-that-would-see-caley-thistle-exit-administr-382481/?utm_source=dlvr.it&utm_medium=facebook

[ictchris]

 

Quote

 

It is vital that the joint-administrators can present a clear proposal to creditors. In particular, the purchase of the lease in respect of the land surrounding the stadium, which involves a splitting of the lease, requires a legal agreement involving the club, current leaseholders and Highland Council as head Landlord.

All parties are fully engaged and the joint-administrators thank Highland Council for their swift and pragmatic approach to this.

“As a result, and to ensure a proposal is presented to the creditors without unfulfilled conditions, the CVA meeting will now be held on June 5. The relevant documents have been sent to creditors today [Monday 19 May].

“The joint-administrators would stress that they are confident that a successful outcome is achievable.

 

 

[LisleRightPeg]

Wonderful news 

[ICTPaisley]

21 hours ago, KennySim93 said:

Said this before during the admin process, but I really wish people wouldn't say things if they don't have solid info they can point to.  "I've heard" - who from?  When?  What's the point in causing unnecessary worry based on nothing but rumour?

Looks like the nothing but rumour has been made public news now.

[KennySim93]

2 hours ago, ICTPaisley said:

Looks like the nothing but rumour has been made public news now.

Aye it was a rumour at the time with no source provided.  I stand by what I said.

[ICTPaisley]

1 hour ago, KennySim93 said:

Aye it was a rumour at the time with no source provided.  I stand by what I said.

 

On 5/17/2025 at 10:24 AM, Satan said:

 

I've heard the 22nd May date has been pushed back to June...any confirmation??

 

So Satan was in the wrong to ask fans on a forum if anyone knew further information regarding this?

Im here to hear our fans opinions and gather as much information about my club as possible, if this means i get information before it’s published then great. I’ll always take it with a pinch of salt until confirmed otherwise but I don’t see the harm. 

[CELTIC1CALEY3]

Just now, ICTPaisley said:

So Satan was in the wrong to ask fans on a forum if anyone knew further information regarding this?

Not in the wrong but the question to be asked is how he could have presented his point better to stop hares running. Even that may have been problematic if his source was very reputable and he did not wish to breach a confidence. That said, we are where we are, and on the face of it there are perhaps legal issues being ironed out. With regard to shareholders who haven't so far responded then it may be that case law would back the Administrator's in arguing that they had done everything reasonable to trace and inform all shareholders. Happy to be guided on that.

[+CaleyD]

Alan Savage doesn't NEED 100% of the shares, that's just what he WANTS...so that wouldn't impact on his ability to present a CVA to creditors.

As said in the statement, it's the carpark transfer that's caused the delay. Hopefully it gets sorted and we can all move on, regardless of our feelings on the nature of the deal.

[+snorbens_caleyman]

5 hours ago, CaleyD said:

As said in the statement, it's the carpark transfer that's caused the delay.

I didn't understand why.  The statement said "the purchase of the lease in respect of the land surrounding the stadium, which involves a splitting of the lease...".

What split?  Surely any splitting would have occurred at the time that PropCo acquired that lease from the club?   And now all that should be needed is a transfer of that lease to FC Inverness or to the club (if it can be transferred to the club whilst it is in administration).

[Robert]

14 minutes ago, snorbens_caleyman said:

I didn't understand why.  The statement said "the purchase of the lease in respect of the land surrounding the stadium, which involves a splitting of the lease...".

What split?  Surely any splitting would have occurred at the time that PropCo acquired that lease from the club?   And now all that should be needed is a transfer of that lease to FC Inverness or to the club (if it can be transferred to the club whilst it is in administration).

It may relate to the triangle beyond the North Car Park which has had the “to lease” sign up. That may be being retained by Cameron and Morrison which would require a splitting of the lease if it is currently in the same lease as the car parks.

That’s just my thoughts though. 

[+CaleyD]

The triangle at the corner was never owned by the club, not even sure it's owned by CGF/Highland Council...so very unlikely to have been under the same lease at any point.

In a commercial/legal sense (in Scotland), splitting of the lease usually means when there's more than one party on the lease, and not all of them are being removed OR where more than one person is splitting the new lease.

Edited May 22 by CaleyD

[Scotty]

ehhh, Facebook ... just NO !!! 

 

[Charles Bannerman]

20 minutes ago, Scotty said:

ehhh, Facebook ... just NO !!! 

 

Which stadium is that he’s photoshopped himself on to?