Boost as Inverness CT set to exit administration – Daily Business

The future is looking brighter for Inverness Caledonian Thistle with the club set to exit administration within the next month.

Agreements have been reached with its creditors with joint administrators BDO, who were appointed eight months ago, saying the deals will allow the exit by early July.

The club will continue to play in League One, recovering from a 15-point deduction as punishment from the Scottish Professional Football League for its financial problems.

Former chairman Alan Savage, who has been funding the club since last year, could now take over the club having tabled an offer earlier this year to buy ICT for £800,000, if certain conditions were met including Inverness leaving administration.

James Stephen, BDO partner and one of the joint administrators said: “The joint administrators would like to thank everyone involved in the process of getting to this point and in particular Alan and his team and the staff at the club.

“We would also like to thank the fans for their patience and support.

“We look forward to the conclusion of the process and seeing the club move forward.”