Former Inverness Caley chairman Alan Savage bids to take full control of club

Former Inverness Caledonian Thistle chairman Alan Savage has launched a bid to take control of the financially stricken club.

The League One side were placed into administration in October with the future of the club in doubt after failing to find a buyer in recent months.

Savage has now made an offer of £800,000 to BDO on the condition that he will take 100% control and all outstanding loans are written off.

In a statement released through the club on Friday he said the bid would expire if not accepted by April 11.

He also reveals that his “medium-term” aim is for the Highland club to be a mid-table Championship side in the next couple of years.

Savage said: “Everyone who has an interest in Inverness Caledonian Thistle Football Club knows the predicament the club is in.

“With the clock ticking I thought it was the right time to bring my personal offer to the table to buy the Club out of administration.

“It is as follows: I am setting up a company, let’s call it FC Inverness as a special purpose vehicle to buy the Club out of Administration for £800,000 and this offer is open until close of business April 11 2025.

“My offer to James Stephen, BDO’s Administrator is conditional on:

100% of the shares are transferred to FC Inverness.
All long-term loans are written off.
All the trade creditors sitting in Administration accept that their debts are settled.
The company PropCo gives a written undertaking to sell the peripheral lease (excluding the triangle) to Inverness Caledonian Thistle for the price agreed at the meeting on Wednesday March 19 with an assurance that the purchase can be completed by April 18.
Under my control the immediate drivers will be to keep the Club’s football licences, stay in Division 1 and prepare for next season. The team around me will remain the same Kell, Billy, Charlie, Grassa and Andrew.

“The medium-term goal is to be playing mid table Championship within the next couple of years.

“Obviously as I have said before, the Club will need help and I am hoping that being out of Administration and debt free will encourage local Businesses and Governmental bodies to step up to the financial plate.

“For the record: If my action prompts the acceleration of a better offer from another buyer I will immediately step aside.

“My offer last August was to fund this club for three months until a buyer was found, this was extended to the end of the season and that still stands.

“But without ownership and full control I can only pay up to June’s wages if my offer is not accepted.”

Inverness Caley are currently in eighth place in Scotland’s third tier.