Inverness Caledonian Thistle attracts 20 potential buyers as BDO insolvency firm administers financial rescue

The insolvency firm's joint administrators have confirmed that there have been 20 parties in talks to buy the club

Inverness Caledonian Thistle’s administrators have revealed that there are 20 interested parties in buying the cash-strapped club.

The 20 bidders will now receive further details about a potential takeover of the club. Administrator firm BDO - who oversaw the liquidation of Rangers and administration of Hearts - are hoping to find a new buyer while they continue their investigation into the Highland club's finances.

Caley Thistle officially entered administration on October 22, with the BDO then making cost-cutting measures to help try and wipeout the club's £3.6million debt. Those changes included the departure of five members of the playing staff, quickly following the exit of manager Duncan Ferguson and his backroom team. First team coach Scott Kellacher has now moved into the hot seat with Caley striker Billy McKay assuming a player/coach role alongside youth coach Ross Jack.

The BDO's announcement also confirmed the return of Alan Savage to the club's board, with the major shareholder pledgining an additional £500,000 to help the Caledonian Stadium side through administration. A Save ICT crowdfunder launched over a month ago has raised £87,501 towards the club’s running costs, but donations have slowed in recent weeks.

But on Monday, the club released a statement confirming that 20 parties have expressed an interest in in buying the 2015 Scottish Cup Winners, who are now 14 points adrift at the bottom of League One after being hit with a -15 points deduction. Their statement read: "The Joint Administrators of Inverness Caledonian Thistle have confirmed that they have received expressions of interest from 20 parties following the commencement of the sale process for the club.

"Interested parties will shortly receive further documentation outlining details of the investment opportunity. The Joint Administrators and the Board of the club would like to thank the local community for the ongoing support received via donations and through other commercial means."

"A BDO spokesperson added: “We have had many enquiries from people wanting to help and support the club financially, ranging from on-site restaurant opportunities to advertising and so on. Understandably, some have questioned where the funds will go. I’d like to stress that all funds raised will be used towards the running costs of the Club and will not be expended on professional fees or to pay historical creditors."

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