Caley Thistle have put fans and Scottish football authorities fully in the picture as the League One club prepares for possible administration.
That’s the view of former chairman and voluntary financial consultant Alan Savage, who was one of the main speakers at Monday’s open meeting for shareholders and fans.
There are several interested possible investors from the US, the United Arab Emirates and Denmark, but The Orion Group chief Savage told the 200-strong audience at the Caledonian Stadium he believes administration is the best way out of trouble.
The club’s deadline is October 16 for any investment to be secured – otherwise administrators will be given the nod to come in.
The Caley Jags have been looking to raise £200,000 this month to stave off any threats of administration and need up to £1.6 million before the end of this season alone to survive.
Alan Savage: Caley Thistle could go into ‘comfortable administration’
The audience were able to ask questions of Savage, new interim chairman Scott Young and board members.
Savage said: “If you tell people the truth, warts and all, they should be on the right side of things.
“People wanted to hear the truth. I explained my views, which I stand by.
“It has been difficult to get to the bottom of things since I’ve come in.
“When I came in, the club was insolvent, and had I not put the money in, it would have gone into liquidation. It would have been an uncomfortable one. Now we could be going towards comfortable administration.
“We’re now on the right side with the SPFL. We have told them (the financial situation) and everyone knows what’s going on. That’s what I wanted to achieve.”
Savage was encouraged by the response from passionate fans this week.
He said:Â “The audience were very good on Monday.
“These are fans who love this club – they wanted clarity and they wanted to be heard.
“Seats on the board for people (the ICT Supporters’ Trust), for example, is doable.
“What the meeting showed is there is plenty fire in the bellies of people in Inverness for their club to survive.
“That gives me added passion and the courage of my conviction to carry on.”
Alan Savage says administration makes most business sense
The former ICT chief explained, while investment suitors will be considered, administration seems to make the most business sense.
He added:Â “The board will consider the interest from possible investors.
“I think we might get more interest should the club go int0 administration than we would before. That’s my own opinion.
“That looks logical, as a businessman, so I hope we will be in a much better place and I will fund the club through administration if that happens.
“If I didn’t believe that was the right thing, I wouldn’t do it.”
Young – ‘A fan, first and foremost’
Interim chairman Scott Young, meanwhile, also felt fans will have appreciated the club’s hierarchy were determined to put them fully in the picture this week.
He said: “I am a fan, first and foremost – before being a director or interim chairman.
“It was great to see everyone at the meeting. We were as honest as we could be in terms of answers to questions and in discussions. I think the fans appreciated that.
“They may not have agreed with everything we said or have done, but they realise the situation we’re in and they left the meeting with a bit more understanding than they were before the meeting.”
‘Stresses and strains’ in ICT hot-seat
Young only stepped into his interim hot-seat position last week when previous interim chairman Panos Thomas stepped down for personal reasons. Thomas had taken that job on after Ross Morrison quit in the summer.
Young, who is also the club’s supporters liaison officer, admits it was a testing and frantic few days before fronting up to fans and shareholders.
He said: “It had been a busy four days in the lead-up to the meeting.
“I took over from Mr Thomas, who has done a great amount of work over the past few months, but I had four days and I know the stresses and strains it put on me, so I can only half-understand what he had to go through.
“He did a great job and I thank him, although I don’t thank him for giving my my first four days in the hot-seat, but I understand his reasons for doing that.
“A lot of preparation was needed over the weekend. I was at our game at Arbroath on Saturday, which gave me time in the car to get some clarity on the way home.
“The three board members at Monday’s meeting (Graeme Bennett, Gordon Fyfe and Roddy Ross) were honest and frank and answered any questions fairly directly and hopefully gave the fans answers they wanted.”
Plea for fans to keep donating
The club’s Save ICT Fund was set into motion last Thursday and has raised more than £70,000.
Although it seems as if administration will happen, Young assures fans that every pound donated will still be used to keep Caley Thistle running.
He added: “We still have running costs as a club for the next week or two.
“We have bills to pay and we have an away game on Saturday (against Livingston in the SPFL Trust Trophy) and any money will also be utilised going forward to help us through, so hopefully we can move forward and help this club build again.”
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