- The Highland club upset supporters with a proposal to move their training base to League One rivals Kelty Hearts in a bid to cut costs and remain competitive
- Club has been hit by a number of setbacks this year, including the failure of talks with new investors following the club’s relegation from the Championship
- Now Caley Thistle’s board says they are consulting with bankruptcy exports to prepare for the ‘worst-case scenario’ of failing to find new investment
- Chairman Ross Morrison resigned following fan backlash over Kelty’s move, but now the 2023 Scottish Cup runners-up face a serious battle to stay alive
INVERNESS Caledonian Thistle have admitted they could face the prospect of insolvency after announcing they had scrapped their controversial plan to move their training base 135 miles south to Kelty.
The crisis-hit Highlands club yesterday backtracked on their proposed move to Fife after a fierce backlash from supporters and the wider community.
In doing so, the Caledonian Stadium team revealed they are in talks with potential new investors after Norwegian renewable energy company Statkraft confirmed it was walking away from a previously agreed deal worth between £1.4 million and £1.7 million over a period of five years.
However, the Inverness club – who also saw chairman Ross Morrison step down from his role in the wake of anger over their proposed training change – are already making contingency plans for a possible worst-case scenario if discussions do not lead to a positive outcome. result.
Yesterday, a statement from the 2015 Scottish Cup winners read: ‘The board is in discussions with potential new investors in the club and remains hopeful of finding a new investor or new owners.
‘In the circumstances we currently find ourselves in following the loss of the Statkraft contract at the Caledonian Stadium, which was worth seven figures to the club, and given the club’s new financial position, it is also sensible to appoint a suitably qualified player to approach. insolvency expert to advise on how we can move forward if our efforts to find new investments fall short.”
Caley Thistle has had success in the Scottish Cup and top-flight football, but has fallen on hard times
Inverness’ surprise relegation from the Scottish Championship hit both players and fans hard
Inverness is managed by Duncan Ferguson, but his future is unclear due to financial problems
Inverness – recently relegated from the Championship under Duncan Ferguson – faced a fierce backlash from their own supporters after revealing last month that they had agreed a deal to train some 135 miles away at the home of the new League One rivals Kelty Hearts, away this summer.
The decision was described by Inverness at the time as a way to give them ‘the best possible opportunity to attract the highest quality players to the club’. However, after heavy criticism and significant resistance from their fans – who had threatened a boycott of season tickets and merchandise – the club has made a U-turn.
“For the avoidance of doubt, on the football front, we have decided to continue training at Fort George for the foreseeable future,” the statement said.
Club chairman Morrison had further emphasized the benefits of the move when he announced his decision to step aside earlier this week. He said, ‘I believe [the move to Fife] is the best way forward and I must stand by my beliefs. That is why I am stepping down now.’
Inverness’s remote location makes it difficult for the club to attract players to the region
Kelty Hearts will play in the same division as Inverness next season but will not now share any facilities
Inverness suffered a setback earlier this year when Highland Council blocked permission for a £3.4 million ‘transformational’ battery storage farm, which would have revitalized the club’s finances.
Their subsequent relegation, after a two-legged play-off loss to League One Hamilton Accies, marked a new low for the club and came just twelve months after they contested the 2023 Scottish Cup final against Ange Postecoglou’s Celtic at Hampden.