SPFL confirm Inverness Caledonian Thistle hit with 15-point deduction after entering administration; Duncan Ferguson's side are now bottom of League One and 12 points from safety; ICT won the Scottish Cup in 2015 and were playing in the Premiership until 2016/17
Tuesday 22 October 2024 18:49, UK
Inverness Caledonian Thistle have been issued with a 15-point deduction by the SPFL after being placed into administration.
The club are now bottom of League One on -3 points - 12 points behind their closest rivals - and will likely move to part-time football if they are relegated for a second consecutive season.
Caley Thistle had launched a crowdfunding page to raise £200,000 to see out the month, but they did not reach the target by last week's deadline.
Manager Duncan Ferguson donated his wages and has been working for free in a bid to save the struggling club who needed between £1.4m to £1.6m to continue until the end of this season.
Talks were held with investors in the UK, United States, Denmark and the UAE over a takeover but no deal was agreed, with administrators now tasked with finding new owners. If unsuccessful - they could sell assets to raise funds for creditors.
A statement from the club said that James Stephen, Malcolm Cohen and Shane Crooks of BDO had been apppointed as joint administrators.
A spokesperson for BDO 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."
