Caley Thistle have announced a loss of £810,000 in the club’s annual report for the financial year ending 31 May, 2018.
Inverness, who are in their second successive season in the Championship, have cited reduced league and cup dividends, little TV money, lower season ticket sales, as well as smaller home and vising crowds as the main factors in the shortfall.
Despite the loss, chairman Graham Rae is optimistic about the future outlook for Caley Jags in their 25th anniversary year, with the club having recently completed a deal to secure the lease of Caledonian Stadium and its three stands from Tulloch Homes.
Rae says community initiatives are at the core of the club’s plan to build a sustainable future, in the form of the newly-created ICT Foundation which will promote youth, health and wellbeing.
Rae said: “Managing a professional football club in the Scottish Championship is tough financially. Inverness like many other UK based football clubs have highlighted that they are not routinely financially self-sustaining, instead being reliant on player trading, new investments, as well as funding from directors, patrons and shareholders to cover cash flow issues, revenue shortfalls and operating losses.
“Life outside of the Premiership is extremely challenging but we have created a business plan to dramatically change the way we run the company to ensure we not only survive as a club but go forward positively within our means and winning the hearts and minds of our community.”
Caley Jags have also announced their Annual General Meeting will take place on Monday, March 18.
