Inverness Caledonian Thistle have announced they’ve passed their investment target outlined at an emergency general meeting (EGM) in September.
Championship Caley Thistle’s financial struggles were underlined when they posted an £892,000 loss for the year ended May 2019 at the end of the year, however, measures to deal with cashflow problems have borne fruit with more than £500,000 of investment.
A statement from the club this evening from chairman Ross Morrison – which revealed further plans including a membership scheme similar to those at other clubs – said: “It is a testament to the new board of directors that we have been able to raise these funds in such a relatively short time. The confidence this level of investment shows in the club is extremely gratifying.
“Myself and CEO Scot Gardiner have been working tirelessly to not only raise the required funds, but also to create a sustainable business model which will give the club much needed financial stability going forward, no matter our league status.
“We firmly believe we are close to finalising the elements which will give us a solid foundation on which to build on. These funds help us ensure that manager John Robertson and the football dept has the best possible opportunity to take the club back into the Premiership. John and the boys continue to deliver, as our 4th round Scottish Cup victory showed at the weekend.
“As outlined at October’s EGM and our subsequent AGM, serious concerns remain regarding our ability to maintain the current levels of support for our excellent Youth Academy. Therefore we must continue to raise funds in order to meet this additional and ongoing financial challenge. We are actively seeking a title sponsor for the ICTFC Youth Academy.
“Next week will see the launch of our ICT25 membership, aimed at small to medium size businesses and those fans who have approached us asking for a debenture style offering they could invest in to help us. The benefits of the various levels of the ICT25 far outweigh the actual costs for those who take up a membership. The ICT25 will feature as part of a new collaboration with MFR over the next few months.
“We are confident of being able to announce a second Concert at the Caledonian Stadium before the end of the month and the insertion of the club back into the concert circuit will certainly form another constituent part of the creation of new ICT business model.
“Thank you all for your continued support, I hope you will take the time to look at the ICT25 membership.
“Finally, for those of you who form our tremendous travelling support, we will see you in Ayr on Saturday.”