Caley Thistle’s administrators BDO have confirmed who the League One club owes money to, along with the amounts owed to each party.
The Highlanders, relegated from the Championship in May, officially entered administration on October 22.
An update last month confirmed there were 20 interested parties and a press conference this Monday will provide an update for fans.
Former club chairman Alan Savage stepped in during the summer to act as a club consultant, paying off immediate bills and keeping ICT afloat.
On his recommendation, the Inverness board accepted administration was the best way out of their situation, with debts of almost £4million.
In this latest report posted on Companies House, BDO have confirmed there have been 21 expressions of interest and they expect offers to be made soon to move through the sales process next year.
Should a buyer not be found, the hope is Caley Thistle could exit administration through a CVA (compulsory voluntary agreement), allowing the club to continue.
Details show ICT have more than 140 creditors, including the seven players and coaches who were made redundant, amounting to over £3.8m.
Former chairman Ross Morrison is owed the most – £1,650,251 – with former directors Allan Munro owed £661,500 and David Cameron £410,000.
Another former club chairman David Sutherland is owed £252,500, while ex-ICT director Liam Dalgarno’s tally is £100,000, with current director Graeme Bennett due £80,000.
Scot Gardiner, who was chief executive until this summer, is owed £70,000.
HMRC is a major creditor, with £149,538 outstanding, while John Gibson are owed £100,000 and Roddy Ross £80,000.
Other clubs, who ICT have loaned players from, are also owed money, as follows: Everton (£18,340.26), Dundee (£3,982.60), Ross County (£2,147.65), Manchester United (£289.57), while the Scottish Football Association are due £700.
The extensive list, which notes firms from across the country, also includes north businesses, as follows: Red Poppy (£26,312.24), A9 Accountancy (£8,148), Scotbake (£7,329.20), High Life Highland (£5,356), Cafe V8 (£5,150), Highland Heating Management (£4,470.61), Ness Castle Lodges (£4,400), D&E Coaches (£2,640), The Sign Centre (£2,512.68), ICR Solutions (£1,440), Physio Inverness (£1,322.50), HW Jack Car Hire (£790), MacGregor Industrial Supplies (£692.39), Inverness Chamber of Commerce (£648), Munro Highland (£641.60), Highland Copiers (£586.25), IRN Security (£579), James Dow Office Supplies (£518.15), Simpson Highview (£320), McBride Signs and Engraving Services (£166.32), Norscott Vending Devices (£117.26), Highland Council (£94.92), Ord Storage Services (£54).
The cost of administration so far, spanning 886 hours, is stated as £252,015, but this amount will rise in the coming weeks and months.
Consortium plan may be way ahead
Meanwhile, former Caley Thistle chairman Savage could lead a consortium for two years as he predicts the club won’t exit administration before February.
Ahead of the January transfer window, Savage revealed head coach Scott Kellacher is closing in on an under-20 signing to add much-needed firepower.
Club consultant Savage, who is expected to rejoin the board once the process is over, has been working closely with administrators BDO since October to help find an investor or investors.
Savage, speaking to podcast The Wyness Shuffle, explained more details will be released next Monday, but spelled out how he sees it could play out.
He said: “I think that we have got some people and they may form maybe a consortium.
“In the consortium, I’ll probably lead it for a couple of years and reassure other investors that the club is going to be governed properly and, with the right balance between sensible expenditure, keeping the youth academy going, and looking at clever signings and loan players.
“We have made a lot of progress in terms of the teaser documents going out to a lot of interesting parties.
“I’ve met a couple of people, spoken to a couple of people, introduced a couple of people.
“I know the administrators have been discussing with specific people that have made enquiries, but we still need to clarify the situation with respect to the (stadium’s) car parks and the leases.
“The administrators will hold a press conference on Monday, December 23. I think that will be quite a pivotal point.
“I think he will tell all, everything that’s going on, and what, if any, issues there are, as he sees it.”
When asked about a likely timescale for exiting administration, Savage said: “I can’t see us getting out before the end of probably January, probably February, I think.”
Commercial interest is on the rise
Savage, who came in to help the troubled club after relegation from the Championship in the summer, has been trying to spark fresh business interest in the club.
And he said: “We’re making some small steps.
“I think the big players are still very nervous about what will happen through the administration, and what kind of buyer will come on board.
“I think that’s partly the Inverness nature as well. People are quite conservative.
“Until we can find out what the real prospects are of a purchase, then I think people are holding back, but we have made some progress.
“We’ve got the (stadium’s) Kingsmills suite filled on December 28 (for the Cove Rangers match) for the first time in a long time.
“The supporters’ bar is going well. We’ve got a good uptake for the (club’s 30th) anniversary on the Kingsmills Hotel on February 15.
“So, we are making progress, but people are still apprehensive, I would say. You can’t blame them, because we’ve had five years of pretty poor fare.”
Transfer negotiations advanced
Inverness are second-bottom of League One – not helped by their 15-point deduction for going into administration.
Kellacher has led the team to improved results and they are 11 points away from nearest rivals Annan Athletic before this weekend’s trip to Stenhousemuir.
However, with just 15 goals scored in 16 fixtures, adding to the attack is the goal and they are permitted to sign an under-20s player in the window.
Savage confirmed work is positive on that front.
He added: “We’ve got our eyes on a couple. Everybody knows we need a striker, and we’ve got a guy in mind, and negotiations are quite well down the road on that.
“We’re hoping for a bit of cooperation from his parent club, and I hope that (Dundee loanee forward) Charlie Reilly is going to get fit.
“So, with another striker, we’ve got a better chance.”
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