ICT accept offer for UK based firm to have 'major shareholding' in the club

Caley Thistle have confirmed they have accepted an offer for a sports, entertainment and leisure group to become a majority shareholder.

Fears surrounding investment have been ongoing for some time, after the club were recently relegated to the third tier of Scottish football and a deal with Norwegian renewables company Statkraft fell through.

However, they've now reached an agreement with Seventy7 Ventures after what ICT have called "intensive discussions."

Inverness also say they are "confident their investment will secure the future of the club".

ICT Board of Directors spokesperson Panos Thomas said: "We have received a formal offer to acquire a major shareholding and voting rights of the company and this has been unanimously accepted by the Board."

"Ketan Makwana, the Executive Chairman of Seventy7 Ventures has been a most dynamic suitor for the club in the past few weeks and following the most recent meeting with him in Inverness when he outlined his vision and passion for what the club could become, it was clear those plans and the financial backing of Seventy7 Ventures will give ICTFC the best opportunity to flourish again.

"This is very good news for the club as we strive to establish a more sustainable business and build a team that will in the first instance, return us to the SPFL Championship.”

Executive Chairman of Seventy7 Ventures, Ketan Makwana said: "We at Seventy7 are delighted to have achieved this result, we want to thank the Board, Chief Executive and former Chairman for their continuous workability and open mindedness to see our vision of the future for the Football Club and the community of Inverness.

"We are relishing the opportunity to drive sustainability and growth in the Club and lead them to future prosperity."

ICT have added that more information will be released in the coming days and weeks and again on the legal completion of the deal.