Ferguson working for free to help save Caley Thistle

Inverness Caledonian Thistle manager Duncan Ferguson says he is working for free to help the Highland club through a financial crisis.

The League 1 club needs to raise £200,000 in two weeks to avoid being placed in administration this month.

Ferguson, who took a pay cut in August, said: "I felt it would be appropriate for myself to offer my wage into that pot."

He said he would continue to work without his salary until ICT was safe, but added: "Obviously I can't go without a wage forever because I have got to put food on the table, but at the moment needs must."

The Inverness club confirmed on Thursday that interim chairman Panos Thomas has resigned with immediate effect "due to a personal family reason".

"It is now time for me to hand over to others to find a way forward for the club," Thomas said in a statement.

The news of Thomas' resignation comes after Caley Jags wrote to shareholders warning them the club was at risk of being insolvent.

It has appealed to major shareholders and former directors for help, and suggested setting up a Save ICT Appeal to help raise the £200,000.

Ferguson said he decided on Wednesday night to give up his wage.

He said he would not ask others to do the same.

Ferguson added: "I've done my bit. I've given up that wage and I'm still working for the club.

"I'm making sacrifices."

Ferguson played for Dundee United, Rangers, Everton and Newcastle United before returning to Everton.

His coaching career included a spell at Forest Green Rovers.

Ferguson joined Inverness last September following the sacking of Billy Dodds and his assistant Barry Wilson.

The club was bottom of the Championship at that time.

It was later relegated in a play-off against Hamilton Accies.

A mural in Liverpool featuring Duncan Ferguson and celebrating his time at Everton

Even if it successfully avoids going into administration this month, ICT said it would need further injections of funds to survive the rest of the season.

Losses ran to £1.2m last season and the club has forecast a similar loss this season, but warned that figure would not include money spent on restructuring following relegation.

ICT Supporters Trust has urged major shareholders and former directors to help prevent the club from going into administration.

It said: "We are hugely concerned about recent events regarding the club’s financial future.

"It was only five weeks ago that supporters were advised that the club had been saved and administration was no longer a possibility."