These are dark days for Caley Thistle following the club’s announcement they could be forced to enter into administration.
Relegation from the Championship has had a seismic impact at Caledonian Stadium.
The resignation of chairman Ross Morrison has ended plans to move the training base to Fife.
Furthermore, the very future of the club is now at risk.
But what would administration mean for Caley Jags?
Administration in football occurs when a company can no longer pay their bills and have become insolvent.
The process is one designed to protect the company from creditors until such time as an independent administrator appointed by the court can carry out the running of the business while trying to arrange a restructuring plan.
Suppliers and creditors may not be paid for months while the process is ongoing as the administrator’s main task is to keep the business running while looking for a new owner.
Club assets such as players, the stadium or merchandise may be sold to generate funds to help pay the wages of staff as a priority.
But in a worst-case scenario, should the company not have sufficient assets to generate funds, the club can be put into liquidation.
Other clubs have suffered points deductions
Insolvency events are nothing new in Scottish football, although it has been more than a decade since the last one.
The last six insolvency events in Scottish football have all led to points deductions being imposed.
Gretna entered administration in March 2008 and were deducted 10 points before being demoted from the SPL to the Third Division.
The penalty was rendered redundant when the club was dissolved in August that year.
Livingston, who were playing in the First Division in 2009 when they entered administration, were demoted to the Third Division, while Dundee, who were also in the First Division, were deducted 25 points in 2010.
Rangers were given a 10-point deduction after entering administration in 2012 before being liquidated.
The new Rangers company were accepted into the fourth tier for the start of the 2012-13 campaign.
The last clubs to suffer insolvency events were Dunfermline and Hearts in 2013.
The Pars, who were in the First Division, and the Jambos, who were in the top-flight, were both handed 15-point deductions.
League One side Edinburgh City were given a six-point deduction by the SPFL in January after failing to pay their players on time.
They had faced a winding up order after failing to pay due taxes to HM Revenue and Customs but it was lifted after an agreement was reached with the tax authority.
Caley Thistle may have to start from the bottom
The initial punishment for a club makes for grim viewing.
The SPFL’s rules state if a member club has an insolvency event, a points deduction of 15 points in the first season and a five-point deduction in the second season will be applied.
However, the SPFL board reserve the right to utilise their discretion where deemed appropriate.
What form that could take is unclear, but for Caley Thistle it could mean demotion to League Two or expulsion from the SPFL altogether.
The nuclear option would require Caley Jags to apply to join the Highland League.
Fighting their way back up the divisions would be a significant task, too, with the club only permitted to retain the senior players under contract at the beginning of the insolvency event.
Any signings would have to be free agents.
Conversation