Caley Thistle say deal has been struck which saves club from administration

Inverness Caledonian Thistle have released a statement saying a deal has been struck which saves the club from administration.

This comes after former chair Alan Savage held a press conference earlier today appealing for new investment in the club.

The businessman, who has been brought in as a consultant for ICT, outlined how draft accounts for this year showed a £1.7m loss.

However, Caley Thistle say a deal has now been made which saves them from administration.

A club statement said: "Amicable deal has been struck that saves club from administration all stakeholders should be delighted.

"Alan Savage says it’s a great result and hopefully we get another one on Saturday.

"Interim Chairman Panos Thomas has also expressed his delighted and is hoping too for a good result on Saturday."

Alan Savage was brought in at the start of August to help sort out the financial situation at Inverness and lead them onto new investment.

Mr Savage told us how Caley Thistle could have been in administration this month if he hadn't stepped in.

This came after Scot Gardiner and Ross Morrison left their roles within the club, following ICT's relegation to the third tier of Scottish football.