Caley Thistle have completed a land deal which sees them assume ownership of the lease of the three stands at Caledonian Stadium.
Tulloch Homes previously owned the lease from Highland Council, who own the land the stadium is built on, but the housebuilding firm announced their intention to gift it to the club in December 2016, with an agreement reached the following year.
The agreement also includes the majority of the main car park at the front of the stadium, while a sub-lease to permit access to the car parking areas at either end of the stadium for the foreseeable future has also been signed.
Following detailed negotiations, the deal has finally been completed which will see Tulloch’s name removed from the stadium, allowing Caley Jags to seek their own naming rights.
Caley Thistle chairman Graham Rae said: “This agreement is crucial to the future of the club. We will have a stadium on our balance sheet and be in a stronger position to attract inward financial investment and pursue other income generating initiatives, such as the naming rights for the stadium.”
George Fraser, chief executive of Tulloch Homes, said: “We are delighted to have completed the gifting of the stadium to Inverness Caledonian Thistle Football Club. It has taken considerably longer than anyone might have wished, but we are very satisfied that the football club now has a significant asset on its balance sheet.”
