Claims Highland businessman has had £1.2 million bid for Inverness Caledonian Thistle rejected
A Highland businessman has reportedly had a £1.2 million bid which could save Inverness Caledonian Thistle from administration rejected by the club.
It is claimed that the businessman, who has asked to remain anonymous at this stage, made a bid which would realistically prevent Inverness Caledonian Thistle from declaring administration this week.
Despite the rejection, the businessman is believed to still be keen to hold talks with the club and agree a deal which would give him a 50.45 per cent controlling stake in the struggling League One outfit.
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However, he says that the deal is dependent on the club not going into administration with it hoped an agreement can be reached quickly.
A statement was released on behalf of the Highland investor who wishes to remain anonymous, saying he is interested in investing in the club.
But he said the deal must be made before the club is placed in administration.
The statement said: “I have an interest in acquiring a controlling interest in the equity of the club as a going concern.
“In order to form a reasoned view on the value, terms and structure of any deal, I require detailed financial information.
“Including latest filed accounts, up-to-date management accounts, current debtors & creditors listings along with due dates for payment, listing of current staff, details of rent/lease agreements in situ, confirmation of shares available for purchase, details of any shareholders agreements in situ and copy of company articles of association.”
The statement said it has also requested: “Details of any bank guarantees or covenants, details of any directors loans, details of any compensation claims against the club, details of any current litigations, and details of tax liabilities including any payment plans in situ.
“Should an administration process be invoked, my interest will immediately and irrevocably terminate.”
The anonymous businessman has been working alongside Inverness businessman Don Lawson and Gordon Ritchie of GRM Marketing in attempting to strike a deal.
Lawson claims talks were held on Tuesday morning when their verbal offer was rejected by the club. He said they wanted more information from Inverness Caledonian Thistle there was only £600,000 debt at the club.
Lawson said: “We have verbally made an offer, but they said it is too late.
“Why that is we do not know.
“I have been told they don’t have an alternative bid. Perhaps there is a prepack done.
“But we want assurances there is only £600,000 in debt. The deal is for 50.45 per cent which gives control to the new investor. That gets the club stabilised and more would be invested into year two and year three.
“What has happened at Inverness Caledonian Thistle has tainted Highland football. It needs to be sorted out sooner rather than later.”
Interim Caley Thistle chairman Scott Young has been contacted for comment regarding the claims.
Inverness Caledonian Thistle have told shareholders as well as requiring to raise £200,000 to avoid administration tomorrow, it also requires between £1.4 to £1.6 million to be able to continue until the end of the season.
As things stand the crowdfunding campaign has raised almost £83,000.
They said: “Following the report to Shareholders dated 1st October 2024 in which the Club laid out its current perilous financial position, which was subsequently published in the media, the Board of Directors are exploring all avenues to raise funding to save the Club from entering Administration.
“Since the Club was formed in 1994, it has been supported, financially, by various local businesses and individuals.
“However, as outlined in the report to the shareholders, the club requires in the region of £1.4 million to £1.6 million to survive until the end of the 2024/25 season and has been unable to secure further investment.
“Of those funds, an amount of £200,000 is required immediately to meet the cash requirements of the club for the current month of October and will need to be raised no later than Wednesday, October 16.
“The club really appreciates the support it has had from fans over the years and recognises that it forms an important part of community life for many.
“We would be grateful for any donations, large or small, in an attempt to save the club.”
Interim chairman Scott Young said yesterday that the cut off date for any bids for the club is tomorrow and that board members will meet later this week to discuss any offer on the table.
“As a board, we will convene at the end of the week and look at any offers we have received and then decide on the best way forward for the club.”
