BREAKING: Former ICT chair Alan Savage returns to club

A Highland based businessman has been drafted in to try and lead Caley Thistle onto new investment.

Alan Savage is expected to oversee the organisational restructure of the club as they seek to remedy their financial issues.

The Orion Group boss will immediately carry out an internal forensic review of the club's financial position to establish plans for their future and setting the team into a viable position for new ownership.

Inverness have also suspended negotiations with Seventy7 Ventures, who had been seeking to acquire a majority shareholding.

After his resignation was announced in June, Scot Gardiner has now left the club.

On behalf of the board of Directors, Interim Chairman Panos Thomas said: "After months of uncertainty surrounding the future of Inverness Caledonian Thistle Football Club, the Board of Directors have appointed local businessman Alan Savage to take charge of the struggling Highland club to put the team in a firm financial position

"Working alongside the club's Board of Directors, Savage has taken the initiative to oversee the organisational restructure of the Club as they seek to remedy their financial issues, with Chief Executive Officer Scot Gardiner leaving his role with immediate effect.

"The Club have also suspended negotiations with Seventy7 Ventures, who had been seeking to acquire a majority shareholding, with Savage beginning immediate work carrying out an internal forensic review of the Club's financial position to establish plans for the club's future and setting the team into a viable position for new ownership.

"Savage and the Board are now looking to rejuvenate the connection between Inverness Caley Thistle and the community which will be integral to the long-term future of the club and are seeking support from local businesses to address the immediate financial shortfall until further long-term investment can be secured.

"The club are now working with Scottish sports marketing agency GRM Marketing to engage with a number of investment leads and commercially drive the club forward.

"Inverness Caley Thistle is hopeful that the community will once again rally around the team and come together to support the new foundations being established."

In May, the club were relegated to the third tier of Scottish football and plans to move training 135 miles away in Fife were met with a fierce backlash.

Caley Thistle have started their League 1 campaign with one draw at home to Dumbarton, followed by Saturday's away loss to Annan.