Caley Thistle’s former chairman Alan Savage has returned to the club – and looks to have dashed Ketan Makwana’s hopes of becoming the new owner.
On a day of drama at the troubled League One club, it has also been announced under-fire Scot Gardiner has left his position as chief executive officer with immediate effect.
Last month, Makwana, executive director of English-based media, leisure, entertainment and sports firm Seventy7 Ventures, was confirmed as the proposed new owner of financially-struggling Inverness, who were relegated from the Championship to League One in May.
Beleaguered CEO Gardiner – who has come under intense pressure from ICT fans to quit for months – tendered his resignation during the post-relegation fall-out in June, but remained in post while Makwana’s proposed takeover at Caley Thistle progressed.
Orion Group chief Savage recently questioned whether necessary due diligence had been carried out on the Makwana proposal and told The Press and Journal already raging ICT fans would ‘go crazy’ if Gardiner remained in post as a result of any takeover.
Savage has now stepped in himself, returning to the club, with part of his remit advancing investment talks with other interested parties in Europe and further afield.
‘Viable position for new ownership’
A long-awaited club statement emerged at tea-time on Tuesday confirmed Savage’s comeback as chairman, saying negotiations with Seventy7 Ventures had been “suspended” and announcing Gardiner is gone.
Written on behalf of the board of directors, interim Caley Thistle chairman Panos Thomas said: “After months of uncertainty surrounding the future of Inverness Caledonian Thistle Football Club, the board of directors have appointed local businessman Alan Savage to take charge of the struggling Highland club to put the team in a firm financial position.
“Working alongside the directors, Savage has taken the initiative to oversee the organisational restructure of the club as they seek to remedy their financial issues, with chief executive officer Scot Gardiner leaving his role with immediate effect.
“The club have also suspended negotiations with Seventy7 Ventures, who had been seeking to acquire a majority shareholding, with Savage beginning immediate work carrying out an internal forensic review of the club’s financial position to establish plans for the club’s future and setting the team into a viable position for new ownership.
“Savage and the board are now looking to rejuvenate the connection between Inverness Caley Thistle and the community which will be integral to the long-term future of the club and are seeking support from local businesses to address the immediate financial shortfall until further long-term investment can be secured.
“The club are now working with Scottish sports marketing agency GRM Marketing to engage with a number of investment leads and commercially drive the club forward.
“Inverness Caley Thistle is hopeful that the community will once again rally around the team and come together to support the new foundations being established.”
A report in the Scottish Sun also said Savage has already spoken to manager Duncan Ferguson, club directors and staff at the Caley Stadium to inform them of his plans.
Unconfirmed local rumours suggest former player and manager, and current head of youth development, Charlie Christie will become the interim CEO following Gardiner’s exit.
Summer of chaos at Inverness
Supporters had continued to voice their concerns over Gardiner remaining in place after a series of failed projects came under his watch.
The saga of the £40 million battery farm project at the city’s Fairways Business Park, which ICT claimed would being in millions of pounds for the club, was kicked out by Highland councillors this summer.
Despite a last-ditch appeal against the reversal of the original decision, it came to light that the Caley Jags would not stand to make anything from it.
The proposed relocating of the club’s entire training operations to Kelty Hearts in Fife was another divisive move, with even the players claiming they knew nothing about it. That June bombshell angered fans further and the decision was overturned.
Lack of communication between the club and out-of-contract players also tarnished the reputation of the 2015 Scottish Cup winners, who were a Premiership side until 2017.
Legend Aaron Doran had a knee operation cancelled twice, and the long-serving winger had to pay for it himself via a fundraiser created by his friend and ex-team-mate Shane Sutherland.
His former manager John Robertson also raised money to help fund most of his rehab.
ICT chairman Ross Morrison decided to step down in June, apparently shell-shocked by the depth of supporters’ feelings over the Kelty plan ,and many fans have stayed away from games and refused to buy merchandise.
Fans are also wondering what has happened to the new home kits for this season, which the team have yet to wear in a game.
On July 31, former director Thomas was confirmed as the new interim chairman.
Caley Thistle’s slow start to season
On the park, Caley Thistle have failed to find form over retained boss Ferguson, having been eliminated from the Premier Sports Cup in the group stage and picking up just one point from their opening two League One fixtures.
Ferguson, in line with fans’ appeals, has gone with a largely young and local squad of players, with the return of their former defender Wallace Duffy on Saturday the latest piece in that jigsaw.
The manager says he spoke to Makwana last week to ask for a transfer budget of sorts and it seemed that cash was processed in order to pay for Duffy and Spanish keeper Musa Dibaga.
Makwana has just returned from a business trip to Dubai where Seventy7 Ventures have launched a new office from a ship, according to his LinkedIn account.
More bad news emerged on Monday night when it was reported Ross County and Dundee were not paid loan fees for players they gave ICT last season.
Conversation