Inverness CT in financial trouble

[Don Dan]

'We're in the second tier and we can't afford it' - Inverness CT beg shareholders for cash amid administration fears and £800k losses each year.

 

https://www.scotsman.com/sport/football/we-re-in-the-second-tier-and-we-can-t-afford-it-inverness-ct-beg-shareholders-for-cash-amid-administration-fears-and-800k-losses-each-year-1-5016583

 

I hope they pull through. We need clubs like these far more than the money grabbing bigot sisters.

[Don Dan]

Inverness Caledonian Thistle are begging shareholders for urgent help as chief executive Scot Gardiner admitted the club can't afford to be in Scottish football's second tier.

The Caley Jags are losing around £800,000 each year in the Championship and last week saw the departure of chairman Graham Rae and director Alan McPhee and, along with them, funding provided by the Muirfield Mills group, which has provided more than £1 million of investment since 2012.

Inverness are debt-free but are struggling for money and are due to hold an extraordinary general meeting this evening, according to the Daily Mail. 

Gardiner is expected to ask shareholders to stump up cash to help stave off the threat of administration but admitted the 2014/15 Scottish Cup winners are in a worrying position.

He told the Mail: "We need working capital. Our revenues are through the floor in the Championship.

"We are in the second tier, and we can't afford it.

"We have been speaking to some of the big shareholders appealing to them to help us because we don't have the revenue to continue as we are."

Insisting that the Highland club had done everything in their power to "steady the ship", the former Hearts chief added: "We need the shareholders to step up now. 

"We have no debt now, no soft loans any more, no bank debt and we own the stadium - but unless we have an investment of cash, we will find ourselves in a precarious position."

[hueyview]

Both Inverness and Ross County have competed well since rising up through the leagues.  Inverness unlike Ross County do not have a wealthy backer, and both teams seem to get around 3500-4000 for home games, with a limited fan base in the Highlands....

[Coburg Hearts]

4 minutes ago, Dannie Boy said:

'We're in the second tier and we can't afford it' - Inverness CT beg shareholders for cash amid administration fears and £800k losses each year.

 

https://www.scotsman.com/sport/football/we-re-in-the-second-tier-and-we-can-t-afford-it-inverness-ct-beg-shareholders-for-cash-amid-administration-fears-and-800k-losses-each-year-1-5016583

 

I hope they pull through. We need clubs like these far more than the money grabbing bigot sisters.

I agree and feel for Robbo. It must feel like deja vu to him.

[highlandjambo3]

This will be pulled out the bag at the last moment...............I think 

 

[davemclaren]

2 minutes ago, hueyview said:

Both Inverness and Ross County have competed well since rising up through the leagues.  Inverness unlike Ross County do not have a wealthy backer, and both teams seem to get around 3500-4000 for home games, with a limited fan base in the Highlands....

Hate to say it but a(nother) merger might be best. Can the Highlands support two clubs trying to deliver top league football. Highlands United?????

[highlandjambo3]

2 minutes ago, hueyview said:

Both Inverness and Ross County have competed well since rising up through the leagues.  Inverness unlike Ross County do not have a wealthy backer, and both teams seem to get around 3500-4000 for home games, with a limited fan base in the Highlands....

Unfortunately and, rather annoyingly, the cheeks have snapped up a huge percentage of the highland population of supporters........mostly glory hunters who could not find their way to ibroke or darkheed without the use of a satnav....... most happy to swarm the local pubs every week to sing their favourite songs...................another story.....

 

but we already knew that anyway.

[Tasavallan]

3 minutes ago, Dannie Boy said:

"We have no debt now, no soft loans any more, no bank debt and we own the stadium - but unless we have an investment of cash, we will find ourselves in a precarious position."

 

ICT are in a better financial position than most clubs in Scotland but a poor income stream means likely going into debt to maintain a Premiership squad in the Championship or cut their cloth and exist as a Championship club.  In the shadow of Ross County.

[Mikey1874]

So they've assumed they were just going to get promoted again?

 

That's a big gamble. 

[Rods]

Hopefully Scottish football rallies round to help Inverness.

 

Did they not contribute some cash towards Hearts during our admin period?

[Forever Hearts]

8 minutes ago, hueyview said:

Both Inverness and Ross County have competed well since rising up through the leagues.  Inverness unlike Ross County do not have a wealthy backer, and both teams seem to get around 3500-4000 for home games, with a limited fan base in the Highlands....

ICT get nowhere near that for run of the mill home games, regardless of what the papers print. 

[Tasavallan]

1 minute ago, highlandjambo3 said:

Unfortunately and, rather annoyingly, the cheeks have snapped up a huge percentage of the highland population of supporters........mostly glory hunters who could not find their way to ibroke or darkheed without the use of a satnav....... most happy to swarm the local pubs every week to sing their favourite songs...................another story.....

 

but we already knew that anyway.

 

In my opinion a merger would not significantly increase the fan base, it may even drop.  There are big businesses based in Inverness-shire that need tapping up.  

[kila]

A bigger top flight might help

 

No more mergers, just limits the future

[davemclaren]

Just now, kila said:

A bigger top flight might help

 

No more mergers, just limits the future

Depends if you want more clubs with smaller attendances. We need more mid size clubs imo. 

[hueyview]

8 minutes ago, highlandjambo3 said:

Unfortunately and, rather annoyingly, the cheeks have snapped up a huge percentage of the highland population of supporters........mostly glory hunters who could not find their way to ibroke or darkheed without the use of a satnav....... most happy to swarm the local pubs every week to sing their favourite songs...................another story.....

 

but we already knew that anyway.

yeah, true...  Every town should be able to support a team, its only a matter at which level they can compete at with their support.  

[davemclaren]

3 minutes ago, Tasavallan said:

 

In my opinion a merger would not significantly increase the fan base, it may even drop.  There are big businesses based in Inverness-shire that need tapping up.  

Possibly but the total population of the area is a hard ceiling. 

[The Old Tolbooth]

10 minutes ago, davemclaren said:

Hate to say it but a(nother) merger might be best. Can the Highlands support two clubs trying to deliver top league football. Highlands United?????

 

That's the reason that ICT are so poorly supported in the first place, Inverness Thistle merged with Inverness Caledonian, and the 2 clubs supporters hated each other and vowed never to go back, they pretty much stuck to their word otherwise a proper Inverness team would attract a good 6 or 7k to home games such is their love of football up there, that feeling from fans of the 2 former clubs is still as strong up there to this very day and will never subside until they all eventually die out. 

 

Ross County and ICT fans hate each other too, I reckon the last thing they need is for the 2 of them to merge and keep even more fans away, this is why most of Inverness parade around in Old Firm tops, because they have no respect or affinity for their home team, it's actually quite interesting talking to the locals about it and how strongly they feel. 

 

As for ICT, I like them and hope they pull through this, but gambling on going back up in one season was a bit daft. 

[kila]

1 minute ago, davemclaren said:

Depends if you want more clubs with smaller attendances. We need more mid size clubs imo. 

 

Smaller clubs need a chance to grow. Being involved in a bigger top flight will encourage that I think, bring more stability to them.

 

[Lovecraft]

16 minutes ago, davemclaren said:

Hate to say it but a(nother) merger might be best. Can the Highlands support two clubs trying to deliver top league football. Highlands United?????

 Chookter FC?

 

 

[hueyview]

13 minutes ago, davemclaren said:

Hate to say it but a(nother) merger might be best. Can the Highlands support two clubs trying to deliver top league football. Highlands United?????

There appears to be a good few clubs in the Highland league at present.  I cannot see a merger on the cards as one of their main fixtures and reason for following these clubs is the hope of a Inverness, Ross county Derby, which sells out 4 times when they are in the same league.

 

Also, i remember all the trouble that occurred when the two Inverness clubs merged 20 years ago, with some fans refusing to follow the amalgemated new Inverness club...........

[Coburg Hearts]

14 minutes ago, davemclaren said:

Hate to say it but a(nother) merger might be best. Can the Highlands support two clubs trying to deliver top league football. Highlands United?????

Perhaps call it Inverness County, much in the same way an Edinburgh merger would see them play in Hearts tops and Hibs shorts. Or perhaps not. 😊

[hueyview]

14 minutes ago, Forever Hearts said:

ICT get nowhere near that for run of the mill home games, regardless of what the papers print. 

Maybe the figure i saw was for when they were competing at the top tier...

[Lord Beni of Gorgie]

Got a mate who is a massive ICT fan, apparently its political. Some folk up there with the clout, if they pulled together they would be significantly better off, but they don't want to do that, and its a dog eat dog type thing, where none will work with the others.

 

Doubt it will come to the worst, Inverness type Brexit shit I'm told

 

PS Don't mention the merger!

 

Edited October 3, 2019 by Sir Gio

[Footballfirst]

Unfortunately ICT is living beyond its means and has previously relied on cash injections from its shareholders/backers. That is not sustainable unless the backers give a long term commitment.

 

Ross County currently has that commitment from Roy Macgregor, so is currently in a better position.

 

The simple alternatives for the ICT Board are either to find another benefactor, or to cut their spending to match their income. If that means going part time then it shouldn't be discounted, even if it means that their aspirations for premiership status are curtailed.

[hueyview]

3 minutes ago, Coburg Hearts said:

Perhaps call it Inverness County, much in the same way an Edinburgh merger would see them play in Hearts tops and Hibs shorts. Or perhaps not. 😊

Hearts of Hibernia, Hibs of Midlothian......    Nah

[heartsfc_fan]

That's a pity. Don't mind them at all.

 

They don't have another Ryan Christie to sell so it's a case of asking fans/wealthy backers to put hands in pockets.

[Coburg Hearts]

3 minutes ago, hueyview said:

Hearts of Hibernia, Hibs of Midlothian......    Nah

From Heart of Midlothian and Hibernian FC, it would, I think, be fair to call the new team Heart of Midlothian FC.

[Martin_T]

If they are spending more than they earn, the obvious solution would be to spend less. I doubt given how low their match day attendances are that they are all that sensitive to the performance of the team.

[Morgan]

Maybe we’ll get our Robbo back?  

[Don Dan]

47 minutes ago, Tasavallan said:

 

ICT are in a better financial position than most clubs in Scotland but a poor income stream means likely going into debt to maintain a Premiership squad in the Championship or cut their cloth and exist as a Championship club.  In the shadow of Ross County.

 

Its the income steams that are the problem. If some of the local infighting can be ditched and locals got behind the team financially it may open up other income streams to help build the club. 

 

[Don Dan]

If only we could somehow break this Weegie love in and locals actually support the local club where ever that is. This would go along way in rebuilding, no not rebuilding but building Scottish Football out with the Weegie concentric power hub. That power hub is detrimental to Scottish Football. 

[Mysterion]

Pretty tough going for ICT.

 

Hopefully they can get some support - even just improving local sponsorship. 

[Bazzas right boot]

Called this a while a go. 

 

Hope they make it but Scottish football is difficult. 

 

 

[smiler]

7 minutes ago, Dannie Boy said:

If only we could somehow break this Weegie love in and locals actually support the local club where ever that is.

I hear what you're saying but are you going to tell all our fans that travel from outwith Edinburgh to go support their local sides? Last survey showed 50% of our season ticket holders had postcodes outwith the city boundary. 

 

[Ibrahim Tall]

54 minutes ago, davemclaren said:

Possibly but the total population of the area is a hard ceiling. 

 

Tbh not sure it’s even necessarily that.

Taking last year as an example, Dingwall has a population of about 5500 yet County averaged about 3800 last season. Greater Inverness has a population of around 63,000 yet ICT only managed around 2500. 

 

% wise of the city it probably isn’t great deal worse than Edinburgh/Dundee etc but  given there’s less alternative activities, less ‘competition’ In terms of other clubs they really could be doing a lot better.  

[highlandjambo3]

16 minutes ago, Dannie Boy said:

If only we could somehow break this Weegie love in and locals actually support the local club where ever that is. This would go along way in rebuilding, no not rebuilding but building Scottish Football out with the Weegie concentric power hub. That power hub is detrimental to Scottish Football. 

This we know........

 unfortunately it will never happen.

[luckydug]

18 minutes ago, smiler said:

I hear what you're saying but are you going to tell all our fans that travel from outwith Edinburgh to go support their local sides? Last survey showed 50% of our season ticket holders had postcodes outwith the city boundary. 

 

Missing the point spectacularly. 😕

It is a totally different scenario.

[FruitJuice]

1 hour ago, Barack said:

Back to Shinty it is then.

 

 

I wouldn't wish that on my worst enemy.  I've saw a couple of shinty matches live and it's just a big game of hit and hope.  Dire sport to watch. 

[smiler]

Just now, luckydug said:

Missing the point spectacularly. 😕

It is a totally different scenario.

Not really. Whether a Rangers fan travels from Inverness to Ibrox because he's a 'guid proddie' or whether wee Johnny from Skinflats travels to Tynecastle because he likes maroon is just life, whether you like it or not is irrelevant. 

[Lfhearts]

Must have been doing their sums on a fag packet bit like our old architect.

[Fort Vallance]

ICT got into the league and exceeded even their own expectations by reaching the top flight. While that's all well and good, it's probably resulted in them assuming that's where they should be. Absolutely every club has a level and if theirs is out with the top tier then they need to accept that. There's nothing wrong with ambition but it has to be realistic.

[FruitJuice]

2 minutes ago, Barack said:

Sure you've just not been at Tynecastle...?🤔

That was more shan than shinty...

[jr ewing]

Too many teams altogether in Scotland. Hope they survive. 

[fabienleclerq]

That reads to me like they have gambled and not cut their cloth? 

 

The Highlands are full of glory hunters too which doesn't help. 

[sadj]

1 hour ago, kila said:

 

Smaller clubs need a chance to grow. Being involved in a bigger top flight will encourage that I think, bring more stability to them.

 

 

Agree with this , less clubs , bigger divisions , more support to them from the SFA and SPFL to help with costs. Keith for instance a part time Highland League team average over a £1000 a week on costs to get to away games. 

 

1 hour ago, Coburg Hearts said:

From Heart of Midlothian and Hibernian FC, it would, I think, be fair to call the new team Heart of Midlothian FC.

 

I think that would be for the best. Unfortunately we can’t use their shorts as that would mean having beep beep on them.

 

27 minutes ago, jr ewing said:

Too many teams altogether in Scotland. Hope they survive. 

 

Agree with this. Never seen a comparison but population to professional clubs has to be one hell of a ratio compared to other countries

[Cruyff Turn]

2 hours ago, kila said:

A bigger top flight might help

 

No more mergers, just limits the future

Agree. 16 team top flight, top 8 bottom 8 split. 38 games a season. 

 

Dundee, Dundee Utd, Dunfermline, Partick, Inverness, QotS and Morton have all got decent supporters and no doubt would get much bigger turnouts playing in the top league.

[Forever Hearts]

2 minutes ago, Cruyff Turn said:

Agree. 16 team top flight, top 8 bottom 8 split. 38 games a season. 

 

Dundee, Dundee Utd, Dunfermline, Partick, Inverness, QotS and Morton have all got decent supporters and no doubt would get much bigger turnouts playing in the top league.

Stick Ayr United in there too. Them and Killie have a fierce rivalry and their derbies are always very well attended. 

[kila]

18 team top flight, selectively missing out Hamilton  

 

 

Aberdeen
Ayr United
Celtic
Dundee
Dundee United
Dunfermline
Falkirk
Hearts
Hibs
Inverness
Kilmarnock
Livingston
Motherwell
Partick Thistle
Rangers
Ross County
St Johnstone
St Mirren 

 

[Justin Z]

24 minutes ago, sassenach said:

The split is barmy. It  creates repetition of games already played, and imbalance of home and away fixtures.

 

If 38 games is the optimum, just have a 20 team league.

 

Or if 20 is too big, 14 team league, but no unbalancing like happens

 

13 home and away balanced = 26

 

Split into 7 / 7

 

6 home and away balanced = 12

 

Total 38

[Paul Shark]

Business built on sand starts sinking, who'd have thought it ! One of their existing shareholders has serious cash so may well "invest". If he wants to get into a who's got the biggest dick competition with a previous chairman. Also a third party with a bit of cash rumoured to be willing to put cash in, but as someone else has said, it's very political.