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

[CaleyCiuin]

14 minutes ago, MrCaleyjag said:

That wasn't my point, I'm not doubting the above regards an accountant role.

I'm asking if you know for a fact the club accountant didn't challenge the CEO?

If you don't know that for a fact or only accept they may have, then you can't throw accusations around like your last statement.

Blame the board and the CEO.

Don’t really care what your point is. I will lay  blame at all those who over a number of years continued to spend money the club didn’t have. Why have an accountant? CEO, board etc, if they are not going to carry out their jobs professionally and seriously annd in the best financial interests of the club.  All in my opinion are culpable! 

[+DoofersDad]

20 hours ago, Yngwie said:

That one is just an admin failure on the part of whoever deals with Companies House filings for the battery co. When the battery co issued shares to its 3 new owners, it should have notified Companies House that the football club is no longer a person of significant control.

Are you sure?  My understanding was that the Battery Storage company was set up specifically with the Club as the parent company, so to speak.  This is why the Club was listed as the "relevant entity" with the powers to appoint and remove Directors.  This is entirely different from the Concert Company which was really just a renaming of one of Morrison' redundant companies.  Apart from the Stadium being listed as the registered address, there is nothing in the documents to suggest the Club had any legal involvement.

The subsequent allocation of shares in the Battery Company to the 3 (now former) directors of the club may well have been a ruse to shield any proceeds from Administration and would have been done with the blessing of the club.  Whether or not it was the intention to also remove the Club's control over who the Director's are, the fact remains that there is nothing in the Companies House records to suggest that control has been removed. Therefore it is important to know if this is still in place, regardless of whether it is an admin failure or not.  

If it is, and if the administrators have the legal power to take over the controlling role, they could remove the current Directors and replace them.  They could then issue further shares at a nominal £1 each so that the shareholding of the 3 current shareholders is greatly diluted and then sell the company to someone who would take a gamble on the appeal being successful.  The administrators will be interested only in how much they could get for the company now, rather than securing it for potentially much larger future profit.  Risking £200k for a potential profit of 10x that might be attractive to the Makwanas of this world.  

Currently any profit  to the club from the Battery Company is dependent on the non legally binding promise of 3 former club directors who have yet to write off their loans and have thereby plunged the club into crisis.  If the Administrators ensured that the bulk of any profits came directly to the club, then the club itself would become significantly more attractive to any potential bidder.

 

[Yngwie]

2 hours ago, DoofersDad said:

Are you sure? 

Yes, 99% sure.

The PSC form for the club was submitted in 2022 and has not been amended or replaced since then. At that time it rightly had the club has having >75% control of shares and votes. Would actually have been 100% but companies house use specified bandings.

Subsequently we have 3 more PSCs added who each have 25-50% of the shares (it is actually 33, 33 and 34% per a Morrison interview) so in total the current submissions add up to a minimum of 150% control which is of course impossible and shows the original PSC to be needing cancelled. The right to appoint directors will be controlled by the current shareholders, I’m sure the Articles will confirm that but I can’t be bothered to look!

[bdu98196]

10 hours ago, DoofersDad said:

Currently any profit  to the club from the Battery Company is dependent on the non legally binding promise of 3 former club directors who have yet to write off their loans and have thereby plunged the club into crisis.

This is one of the biggest points that needs clarity with RM & Co needing to come out ans publicly state a position. Given the tarnish to the legacy of the RM tenure and his alleged losses, plus rumors elsewhere that this is affecting his personal solvency then its hard to see any scenario (unless there is a legally binding gap missed) where they dont take the BF cash and still try call in the debts by the club - also at this point would he even give a damn how this affects his public image in the Inverness football community?

[+DoofersDad]

8 hours ago, Yngwie said:

Yes, 99% sure.

The PSC form for the club was submitted in 2022 and has not been amended or replaced since then. At that time it rightly had the club has having >75% control of shares and votes. Would actually have been 100% but companies house use specified bandings.

Subsequently we have 3 more PSCs added who each have 25-50% of the shares (it is actually 33, 33 and 34% per a Morrison interview) so in total the current submissions add up to a minimum of 150% control which is of course impossible and shows the original PSC to be needing cancelled. The right to appoint directors will be controlled by the current shareholders, I’m sure the Articles will confirm that but I can’t be bothered to look!

Thanks.    I've had a look at the Model Articles of Association and I think you're probably right.  If so, then the Battery Company and any potential profit from it would not be a consideration for the administrators.  

[CELTIC1CALEY3]

This has to be the most amazing headline we have seen in the last six months 'Directors have to take responsibility for not taking control of financial situation at Inverness Caley Thistle.' Surely anyone who takes on the role of Director of a company knows it comes with legal and governance responsibilities as opposed to an ego trip! This is an admission of neglect. GB is one of those last standing who clearly did not realise what their role was. Credit to him in some respects for not being spineless and resigning.

[CELTIC1CALEY3]

With regard to the Go Fund Me target surely there still has to be a way to reach a wider audience.  Microsoft Copilot came up with this list and I wondered given the technical skills of supporters whether a video could be created to launch into mass media?

o widen the reach of Inverness Caledonian Thistle FC's GoFundMe appeal and potentially reach millions, here are some strategies:

1. Leverage Social Media: Share the GoFundMe link on all social media platforms like Facebook, Twitter, Instagram, and LinkedIn1. Use relevant hashtags, such as #SaveICT, to increase visibility1.

2. Engage Influencers: Reach out to local celebrities, sports personalities, and influencers who can help spread the word to their followers21.

3. Email Campaigns: Send out emails to the club's supporters, local businesses, and previous donors, urging them to share the appeal with their networks21.

4. Local Media: Contact local newspapers, radio stations, and TV channels to cover the story and the appeal21.

5. Partnerships: Collaborate with local businesses, schools, and community organizations to promote the appeal through their channels.

6. Events: Organize fundraising events, both virtual and in-person, to raise awareness and encourage donations.

7. Update Regularly: Keep the campaign updated with progress reports, stories, and thank-you messages to maintain engagement and encourage further sharing.

8. Create a Video: A compelling video explaining the club's situation and the importance of the funds can be very effective in gaining support.

By implementing these strategies, the appeal can reach a much wider audience and increase the chances of reaching the fundraising goal.

[Charles Bannerman]

1 hour ago, CELTIC1CALEY3 said:

With regard to the Go Fund Me target surely there still has to be a way to reach a wider audience.  Microsoft Copilot came up with this list and I wondered given the technical skills of supporters whether a video could be created to launch into mass media?

o widen the reach of Inverness Caledonian Thistle FC's GoFundMe appeal and potentially reach millions, here are some strategies:

1. Leverage Social Media: Share the GoFundMe link on all social media platforms like Facebook, Twitter, Instagram, and LinkedIn1. Use relevant hashtags, such as #SaveICT, to increase visibility1.

2. Engage Influencers: Reach out to local celebrities, sports personalities, and influencers who can help spread the word to their followers21.

3. Email Campaigns: Send out emails to the club's supporters, local businesses, and previous donors, urging them to share the appeal with their networks21.

4. Local Media: Contact local newspapers, radio stations, and TV channels to cover the story and the appeal21.

5. Partnerships: Collaborate with local businesses, schools, and community organizations to promote the appeal through their channels.

6. Events: Organize fundraising events, both virtual and in-person, to raise awareness and encourage donations.

7. Update Regularly: Keep the campaign updated with progress reports, stories, and thank-you messages to maintain engagement and encourage further sharing.

8. Create a Video: A compelling video explaining the club's situation and the importance of the funds can be very effective in gaining support.

By implementing these strategies, the appeal can reach a much wider audience and increase the chances of reaching the fundraising goal.

The trouble is that there only 6 of the available 13 days remain and the appeal has only reached 37% of its target - including a £20,000 donation that’s likely to be a one off. I just don’t see anything practicable that could achieve the necessary acceleration in the very short timescale.

Two other points. This appeal was floated as having the purpose of avoiding administration which, it emerged four days after its launch, had been the preferred option of AS and the Board anyway. And secondly, I’m not sure that there’s any intrinsic significance of the £200,000 figure since it looks to me that they are just looking to bring in money to make administration happen.

[Scotty]

5 hours ago, CELTIC1CALEY3 said:

With regard to the Go Fund Me target surely there still has to be a way to reach a wider audience.  Microsoft Copilot came up with this list and I wondered given the technical skills of supporters whether a video could be created to launch into mass media?

Engage Influencers: Reach out to local celebrities, sports personalities, and influencers who can help spread the word to their followers21.

Probably not... but...

The biggest local celebrity right now has to be Karen Gillan - starring in blockbuster movies with The Rock, and in the Marvel universe ... as well as apparently a guest role in the Simpsons last year (didn't know that one). I am sure MikeysLine benefitted greatly when she started posting about them. Was she ever an ICT fan? Might she be persuaded to tweet something out or ask some of her billionaire friends if they want to finance a football club? 

If its good enough for Deadpool to own a club... 

 

edited to add: This is exactly the approach I took in 2019 when the club asked for similar ideas and I ended up asking someone over here. I figured nothing ventured, nothing gained and was shocked to get a positive response. Shame it was never followed up when I passed it along and when they re-visited it this year, the guy who had been keen previously basically said "thanks but no thanks" as they had moved on with different plans since then. 

[RednBlackComeback]

According to Ferguson, a 15 point deduction would see us relegated:

"If we get a 15-point deduction, we are not going to be able to stay in the division unless we probably win every game and every other teams loses every game.

It would be a nearly impossible task. One we would try to overcome and win games, but if administrator comes in and cuts the squad, which I think he would do, it would really be a tough ask.

The 15-point deduction would more than certainly relegate us."

https://www.bbc.co.uk/sport/football/articles/c8djl80rl8mo

 

It would see us 12 points behind, yes, but we'd have 27 games to claw that back!!!

That said, if Ferguson's still here then I agree - we will be relegated (15 point deduction or not)!

[Scotty]

14 minutes ago, RednBlackComeback said:

According to Ferguson, a 15 point deduction would see us relegated:

"If we get a 15-point deduction, we are not going to be able to stay in the division unless we probably win every game and every other teams loses every game.

It would be a nearly impossible task FOR ME. One we would try to overcome and win games, but if administrator comes in and cuts the squad, which I think he would do, it would really be a tough ask.

The 15-point deduction would more than certainly relegate us."

https://www.bbc.co.uk/sport/football/articles/c8djl80rl8mo

 

It would see us 12 points behind, yes, but we'd have 27 games to claw that back!!!

That said, if Ferguson's still here then I agree - we will be relegated (15 point deduction or not)!

 

fixed it for you. I do sympathise a little with him because the administrator is going to cut anyone who gets a high wage or who is getting put up in accommodation or generally has a large footprint in terms of cost in some way. That will leave us with the boys really and that would be a tough ask for any manager, let alone one that can't buy or even loan a win. 

[CELTIC1CALEY3]

Our tiddly little Board and AS have thrown in the towel but surely Super Caley could still Go Ballistic in the next 6 days. Administration and Elgin passing us in the night does not seem right for the City of Inverness?

[Charles Bannerman]

3 minutes ago, CELTIC1CALEY3 said:

Our tiddly little Board and AS have thrown in the towel but surely Super Caley could still Go Ballistic in the next 6 days. Administration and Elgin passing us in the night does not seem right for the City of Inverness?

Although I think it’s obviously helpful that this appeal does well, I also think it’s a relative sideshow that has been overtaken by what now looks like inexorable momentum towards administration. This £200K is chickenfeed in a much bigger game.

Also at today’s press conference where the manager expressed slender hopes of staying in League One after a 15 point deduction, Charlie Gilmour spoke very well, saying that if the penalty did happen then it would have the effect of galvanising him and probably others to rise to the challenge.

Looking back through the history of this club, I think of a number of episodes of improbable success and rescue such as the club being formed at all, defeating Celtic three times in the Scottish Cup, coming back from 3-0 down against Ayr, cantering home in the First Division in 2010 after looking dead and gone in February, winning the First Division in 2004 with victories over Clyde and St Johnstone, getting into the SPL through a wad of red tape etc etc. One thing that does worry me, though, is whether the same spirit is there these days?

[Scotty]

1 minute ago, Charles Bannerman said:

Looking back through the history of this club, I think of a number of episodes of improbable success and rescue such as the club being formed at all, defeating Celtic three times in the Scottish Cup, coming back from 3-0 down against Ayr, cantering home in the First Division in 2010 after looking dead and gone in February, winning the First Division in 2004 with victories over Clyde and St Johnstone, getting into the SPL through a wad of red tape etc etc. One thing that does worry me, though, is whether the same spirit is there these days?

For me the question is whether the leadership is there to galvanise that mindset in the players. I don't think Big Dunc has that belief so if he doesn't have it, he can't pass it on to the players.

Barring a miracle, we are headed for administration and a 15-point penalty at a minimum. If that happens, DF has already given up and needs to be replaced with someone who will try to have the players scrap for every point ... I would rather go down fighting than meekly give up. 

[PullMyFinger]

Red Bull Inverness Caledonian Thistle rolls off the tongue doesn't it?

[STFU]

8 hours ago, PullMyFinger said:

Red Bull Inverness Caledonian Thistle rolls off the tongue doesn't it?

Twice. Once on the way down and again when you throw it up

[Ronaldo]

10 hours ago, PullMyFinger said:

Red Bull Inverness Caledonian Thistle rolls off the tongue doesn't it?

More like black bull.....

[+old caley girl]

https://www.dailymail.co.uk/sport/football/article-13951191/EXCLUSIVE-INTERVIEW-plan-save-Caley-Savage-stepped-former-chief-executive-Gardiner-weeks-turmoil-left-proud-Highland-club-brink.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_dailymailsport

 

He's come out of hiding....

[Scotty]

26 minutes ago, old caley girl said:

https://www.dailymail.co.uk/sport/football/article-13951191/EXCLUSIVE-INTERVIEW-plan-save-Caley-Savage-stepped-former-chief-executive-Gardiner-weeks-turmoil-left-proud-Highland-club-brink.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_dailymailsport

 

He's come out of hiding....

GTF !!!!

[big cherly]

9 hours ago, old caley girl said:

https://www.dailymail.co.uk/sport/football/article-13951191/EXCLUSIVE-INTERVIEW-plan-save-Caley-Savage-stepped-former-chief-executive-Gardiner-weeks-turmoil-left-proud-Highland-club-brink.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_dailymailsport

 

He's come out of hiding....

Tum-te-tum, 

‘He said this’, — “No, I said that”!

All so predictable, brain numbing and avoidable (+ cheaper).  If you thought the Post Office Enquiry took too long, think of it now as a trial run. 

Ah well, might as well settle in for the show to unfold!!! 
 

[buckett]

The suggestion that Savage has inflicted reputational damage on Gardiner is quite amusing. I think most of us had come to this conclusion some time ago!

[ClickbaitProponent]

10 hours ago, old caley girl said:

https://www.dailymail.co.uk/sport/football/article-13951191/EXCLUSIVE-INTERVIEW-plan-save-Caley-Savage-stepped-former-chief-executive-Gardiner-weeks-turmoil-left-proud-Highland-club-brink.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_dailymailsport

 

He's come out of hiding....

He fails to mention the 7000 unread emails, or the £80k for Harper that he spaffed away, or the kit deal, or the fact his wife's company was the broker... did he forget all of this I wonder? It's funny how the mail is owned by his friend ... hmmmmmm. And we won't even mention that fabulous deal with Seventy 7 ventures who didn't actually have any money and Gardiner had failed to do due diligence. He really is worm.

[CELTIC1CALEY3]

He is correct in describing the impact which administration will have on the club and community.  We do not know the full facts of what has actually been happening behind the scenes at the club but all here say points to the fact that SG has not helped the club avoid administration.

[RiG]

3 minutes ago, CELTIC1CALEY3 said:

He is correct in describing the impact which administration will have on the club and community.

Gardiner of course showed during his tenure how much he cared for the local community and businesses...

[+DoofersDad]

If Gardiner pursues his threats of defamation actions, some things will be easier to prove that others.  One that should be easy to clarify is Gardiner's assertion that the Board and Savage agreed that Savage would become a Club Director, only for Savage to then resign the next day.  The Club has stated that the communication to Companies House was an administrative error with, I seem to recall, someone simply assuming that he had been made a Director given the authority he had been delegated.  If Savage had been appointed as a Director, this could only be done at a formal meeting of the Board and it would be recorded in the Minutes of the meeting.  Whilst the Minutes will be confidential, there is surely no reason why the Board can't issue a statement to confirm the Savage had not been appointed as a Director, if that is the case.

My concern here is that this is a strange thing for Gardiner to allege if it isn't true.  If it is true, then Savage and the Board have some questions to answer.  The Board have more important things to address in the immediate future, but hopefully some clarification will be forthcoming in the fairly near future.