Caley Thistle’s administrators BDO are determined to find a buyer for the stricken club inside the next 12 weeks.
First-team coach Scott Kellacher and captain and striker Billy Mckay will take on the management duties after Duncan Ferguson, his assistant Gary Bollan and goalkeeping coach Stuart Garden were axed by the firm.
It was also confirmed, on Thursday, Adams Brooks, Cameron Ferguson, Flynn Duffy, Wallace Duffy and on-loan goalkeeper Jack Newman have been let go.
James Stephen, of BDO, addressed some of the main points about what happens next at the League One club, who were forced into administration due to, in part, around £3.6 million of debt.
What is the main priority for Inverness administrators now?
Stephen said: “Priority for me is to drive the sale process. That’s very much what I’m going to go away and do now.
“I’m delighted we’ve created this period of stability and I can now say to people we have a period of months, rather than weeks, where we can all just get on with our jobs.
“My job, clearly, is to find a buyer for the club.
“That’s my over-riding objective.
“And obviously three points on Saturday (at Dumbarton) would be welcome as well.”
What is the financial position of the club at this point?
He said: “In terms of the funding position, we still have issues around funding.
“With me is (consultant) Alan Savage, who has been effectively bankrolling the club prior to my appointment.
“He has very kindly agreed to assist with the administration funding.
“We have asked Alan to come back on the board with a view to seeing where we can increase revenues.
“That’s not unfortunately a bottomless pit of money. (But) it has given us a period of stability to go forward.
“But we are looking to local communities to rally round the club and support us as much as we can – every penny we can raise is helpful to the club.
“I stress every penny raised goes towards paying the expenses of the club. It will be used to keep the club going.
“We have a period of stability. It allows me to move forward with the sales process, which has already started.
“The key objective is to exit (administration) via a company voluntary arrangement. Football clubs come out of this scenario and keep their (SFA) licences.
“We’ve been speaking with the regularly with the football authorities, having been in this situation before.
“They have been extremely helpful in assisting us in what we want to do.
“Fraser Wishart, chief executive of PFA Scotland, very kindly came up today to assist the players who have sadly been made redundant.
“We want to now be left alone to do our work at the club, put points on the board, and once we have something tangible to tell you, we will do so.”
What is the timescale for administration at Caley Thistle?
He said: “I’m always loathe in any scenario to out a date on because it becomes very fixed in people’s minds.
“What I would say is we have a reasonable period of stability – and I’m talking months rather than weeks to explore options.
“Alan, which we’re all very grateful for, has said he will not let the club run out of cash.
“Alan and I have had some very open and honest conversations, and if we get to the point where we need to extend it, Alan has indicated he is more than happy to do that.
“We have a period of stability, but I’m beating a drum for cash – if we could get the community re-engaged to continue to support the club then every penny we raise helps us extend timescales.
“The online fundraiser is an obvious way, but there are other mechanisms such as businesses if they now want to get involved now that the circumstances have changed.
“I’d ask people to come forward if they are able to do that.”
What is the main approach in your search for a buyer, and how much vetting of interested candidates takes place?
He said: “There’s two aspects.
“One, you need to know they have the funding to do it.
“Secondly, we have to respect the rules of the football authorities – they have to be fit and proper.”
Will you be based at the stadium?
He said: “There will be BDO representation here.
“I won’t be up full-time, but will be here regularly.”
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