American investors have made a £2 million bid to take over financially-embattled Caley Thistle, according to a report.
The Caley Jags recorded a £588,053 loss before tax for the year ending May 2023 in their latest accounts.
They were set to owe more than £3m to creditors for the coming year, with the club – relegated to League One at the end of last season – stating they need to raise at least £300,000 in coming weeks to pay their pressing bills and ward off the threat of administration.
Administration would likely bring a heavy points penalty in the new campaign, making promotion back to the Championship at the first attempt difficult.
While Caley Thistle chiefs have undertaken cost restructuring since the end of last term, securing fresh investment remains crucial.
The Sunday Mail report the Highlanders have struck an exclusivity agreement with potential US investors, who first approached the Caledonian Stadium outfit in June.
While the investors’ identities are currently unknown, Inverness directors are said to have given them a deadline of July 25 to confirm their intentions following their initial £2m offer for the club.
Further talks were understood to be scheduled for over the weekend.
There are two other potential overseas bidders waiting in the wings, the report adds.
The article quotes a Caley Thistle insider, who said: “The club is keen to conclude the current negotiations as quickly as possible to bring some financial stability.
“The board is aware of interest from other investors but have been open about the prompt need to pay off monies due to creditors and ensure the survival of the club.
“That is why it has set a deadline for later this month.
“The current negotiations are fairly well advanced with further discussions planned.”
Caley Thistle start season with loss after summer of chaos
Last week, Inverness boss Duncan Ferguson said he was hopeful a takeover was “only two or three weeks away”.
Hoping for a “cash injection” to help tweak his now youthful squad, Ferguson added: “We’re waiting for a new owner to come in and I believe that is getting closer, so we will see what happens.”
It had been a difficult summer for Inverness prior to Saturday’s season-opening Premier Sports Cup loss at Annan Athletic.
Amid the chaos of relegation and potential administration, several now out-of-contract players blasted a lack of communication over their futures, while Inverness’ plan to shift their entire training operation to Kelty in Fife – to attract better players and save on housing costs – sparked fury and was binned.
Chairman Ross Morrison – himself owed a substantial sum after plowing £1.5m into Caley Thistle in recent years – has stepped down, while chief executive Scot Gardiner is serving his notice.
In March, Highland councillors reversed a decision to give a battery storage farm the go-ahead, which prevented Inverness from landing a £3.4m sum.
The club have appealed to the Scottish Government over the ruling, but have also missed out on a £1.7m contract with Norwegian renewables company Statkraft – after the two parties failed to agree on a deal for the firm to operate a park and ride at the Caledonian Stadium’s car park during construction of a Loch Ness hydro scheme.
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