The future of Inverness Caledonian Thistle Football Club hangs in the balance following the revelation by its joint administrators that no offers have been received to purchase the club by the set deadline this month. The administrators issued a stark warning, stating that the "future of the club is now at significant risk" unless new parties come forward with interest in acquiring the club.
Inverness Caledonian Thistle entered administration in October, leading to a 15-point deduction that has impacted their standing in League One. Currently positioned eighth in the league, the club is just two points clear of ninth place and maintains a 23-point lead over Dumbarton, the league's bottom side. Notably, Dumbarton has also faced administration this season and suffered a similar points penalty.
Efforts to stabilize Inverness CT have seen former chairman Alan Savage step in with financial support. Savage has ensured funding of approximately £1 million to sustain the club through the current season. Furthermore, he has expressed willingness to finance 25 percent of the club's purchase price and contribute similarly for the next two seasons. However, his offer is contingent upon other interested parties stepping forward to share the financial burden.
"a sale transaction does not appear to be achievable in the absence of new parties coming forward and the future of the club is now at significant risk," said BDO.
Despite BDO, the club's administrators, reporting "a strong level of interest from several parties," none materialized into concrete offers by the March 6 deadline. This development leaves the club's future precarious, with administrators now reaching out to former directors, requesting them to write off their loans to ease financial constraints.
"We are grateful for Alan Savage's ongoing financial support and would urge any interested parties to come forward with a view to acquire the club. The JAs would welcome the opportunity to discuss and provide a guide in respect of an acceptable price," BDO stated.
The situation was further complicated by the departure of boss Duncan Ferguson, who had been working without pay before leaving post-discussions with administrators. The absence of a clear path forward has amplified concerns about Inverness Caledonian Thistle's viability as a football club.
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