Caley Thistle officially in administration
The League 1 side have had a 15 point deduction imposed.
Last updated 22nd Oct 2024
Inverness Caledonian Thistle have gone into administration.
The club are currently fighting for their survival, with a fundraiser set up to help the club.
However, after the deadline for that passed last Wednesday and talks with a potential buyer fell through, Inverness outlined how they planned to appoint administrators this week.
The League 1 side have also had a 15 point deduction imposed by the SPFL according to the governing body's insolvency rules.
A statement from ICT outlined how joint administrators have been appointed.
They said: "James Stephen, Malcolm Cohen and Shane Crooks at BDO have been appointed Joint Administrators of Inverness Caledonian Thistle Football Club (Tuesday 22nd October 2024)."
A spokesperson at BDO outlined how more information will be issued in due course.
They said: “We can confirm a formal appointment has been made and Inverness Caledonian Thistle is now in administration.
"We understand this will be a difficult and uncertain time for the club, its staff, its loyal fan base and the local community.
"The Administrators will be in a position to provide further information and their plan to seek to secure the long term future of the Club in due course.”
It is unclear what this means for everyone working at the club, but job losses are likely.
A fundraising page entitled the 'Save ICT fund' has raised more than £87,000 out of a £200,000 target.
Caley Thistle previously outlined how they needed in the region of "£1.4 million to £1.6 million to survive until the end of the 2024/25 season."
Earlier this month, manager Duncan Ferguson admitted he is currently working for free in a bid to aid the club's survival.
Saturday Caley Thistle - now on -3 points - travel to play second-bottom Dumbarton who are on 9 points.