Inverness Caledonian Thistle on the brink
- Thread starter Zabbasbeard
- Start date
Forgetting the hysterics from yesterday if you look at ICTs financial position it’s simply unsustainable! The year they reached the Scottish Cup Final they lost £1,000,000!
Their board seemed to have decided quite a while ago that Administration was the best way to rid the club of the debt they have built up over the years.
Looks like relegation is the most likely outcome but on the positive side they’ll be starting again debt free and with every chance of building the way they have in the past.
Unfortunately, unlike their near neighbours Ross County , they don’t have that sugar daddy who is willing to bank roll them.
Many clubs have used the Admin route to free themselves from debt and certain clubs have used it more than once. Is it fair on the competition? Probably not but if the rules are there then fair enough.
The league have lost East Stirlingshire, Berwick Rangers, Albion Rovers, Cowdenbeath, Brechin City since the much overdue pyramid system was introduced and more clubs will fall out but clubs need to find their own level
Their board seemed to have decided quite a while ago that Administration was the best way to rid the club of the debt they have built up over the years.
Looks like relegation is the most likely outcome but on the positive side they’ll be starting again debt free and with every chance of building the way they have in the past.
Unfortunately, unlike their near neighbours Ross County , they don’t have that sugar daddy who is willing to bank roll them.
Many clubs have used the Admin route to free themselves from debt and certain clubs have used it more than once. Is it fair on the competition? Probably not but if the rules are there then fair enough.
The league have lost East Stirlingshire, Berwick Rangers, Albion Rovers, Cowdenbeath, Brechin City since the much overdue pyramid system was introduced and more clubs will fall out but clubs need to find their own level
Did anyone else read that in a Proclaimers style, it only needed Bathgate in there?
No, just me then.
The aggressive back and forth is considered polite conversation in Glasgow.
jimharri
Moderator
roman totale
Well-Known Member
Reading this thread makes me feel like Matt Damon in that scene in Oceans 12 where Robbie Coltrane, Brad Pitt and George Clooney are talking that pub in Amsterdam.
WesthoughtonJohn
Well-Known Member
Saw this elsewhere - is Scottish football about to actually collapse??If there was actual evidence, or even suspected of there being evidence, of accounting fraud then the police would be involved. Like at Dumbarton.
Dumbarton in administration: Police 'look into some transactions'
Police confirm they are investigating a report of suspected fraud in relation to Dumbarton, who entered administration this week.www.bbc.co.uk
Kelty Hearts and Cove Rangers both reportedly on the brink as well.
It’s all the Old Firms fault dontcha know
mexico1970
Well-Known Member
It was a toss up back in the day when all we had for results was a vidiprinter on world of sport as to who had the funkiest name, Hamilton Academicals or Inverness Caledonian Thistle.
ICT weren’t formed unril 1994. Previously they were two separate clubs. Thistle and Caledonia
Before that I always thought Inverness Clachnacuddin always had the funkiest name of the Inverness teams but were not involved in the merger.