The joint administrators of Inverness Caledonian Thistle say that “the future of the club is now in danger” after no offer has been received to buy the Scottish League on one side on the deadline of this month.
In a statement, BDO said that there was “a high level of interest from several parts”, but none manifested itself by March 5.
Among the reasons mentioned, there was: the current level of the loans of the former administrators (totaling around 3.5 million pounds sterling), the nature of the disparate shareholders of the club having an impact on a potential buyer having an adequate control and uncertainty around the property of the land surrounding the stadium.
The joint administrators claim that “a sales transaction does not seem to be achievable in the absence of new parties that are manifested and the future of the club is now at risk”.
Regarding the concerns raised, BDO wrote to the former directors asking them to raft their loans, some in agreement and others pending. To respond to concerns concerning disparate participation, some have agreed to return the actions to the club following a letter from joint administrators and others will be issued this week.
Former President Alan Savage – who provided funding totaling around 1 million pounds Sterling is in place so that the club can see them this season – also said that it would be ready to pay 25% of the price to buy the club and provide 25% of the funding required for the next two seasons – if other parties are manifested.
Inverness CT was placed in administration in October, the boss Duncan Ferguson working for free before leaving after a meeting with the administrators.
The club was struck by a deduction of 15 points which left them below at least three points. However, they are now eighth, two points above the ninth and 23 away from Dumbarton on the lower side which has also entered administration this season and has undergone a deduction of similar points.
Inverness won the Scottish Cup in 2015
A spokesperson for BDO said: “We appreciate that this last update will be disappointing for players, fans and the wider community.
“Given what was done on and off the field throughout the administration period, we would really like to see a sale of the club to ensure that its future is secure and we will encourage all the parties to cooperate in this company.
“We are grateful to the continuous financial support of Alan Savage and urge all the parties interested in manifesting themselves to acquire the club. The JAS will welcome the opportunity to discuss and provide a guide with regard to an acceptable price.”
