Inverness Caledonian Thistle has taken a vital step forward in its journey out of administration.
Alan Savage, former chairman and long-time club consultant, has been confirmed as the preferred bidder for the club.
The announcement was made by BDO, the Joint Administrators overseeing the club’s future.
Key financial hurdles that once threatened the stability of the club have now been cleared.
Crucially, agreements have been reached in principle over previously unresolved issues, including the writing off of creditor loans and uncertainties over the club’s subleased property.
These resolutions pave the way for the next phase of the club’s recovery.
One essential condition of the sale is that all shares in the club be transferred to the new ownership vehicle.
A number of shareholders have already given their approval.
The Joint Administrators will now contact the remaining shareholders to facilitate full ownership transfer.
With Savage now leading the charge, efforts will focus on implementing a Company Voluntary Arrangement, or CVA.
If approved, the CVA would enable the club to officially exit administration.
It would also allow Inverness Caledonian Thistle to continue operations and begin rebuilding with greater stability.
A spokesperson for BDO expressed optimism about the club’s future and gratitude for the efforts made so far.
They thanked Savage, the loan creditors, shareholders, and club staff for their cooperation in reaching this pivotal point.
Securing the club’s long-term future now hinges on the successful completion of the CVA process.
BDO confirmed that timelines for the next steps will be firmed up in due course.
This milestone marks a renewed hope for fans and the wider Highland football community.
Savage’s return signals a potential turning point, with an experienced figure once again steering the club.
The road ahead may still be complex, but the destination is now clearly in sight.
