Caley Thistle administrators receive 20 takeover inquiries

Inverness Caledonian Thistle entered administration in October

Inverness Caledonian Thistle's administrators say they have received 20 expressions of interest to buy the League One club.

BDO said potential buyers of the 2015 Scottish Cup winners would be sent details outlining the investment opportunity in the coming days.

The firm thanked the local community for their support for the financially stricken club while the process is ongoing.

Caley Thistle drew 1-1 draw with Kelty Hearts on Saturday, but remain rooted to the foot of the third tier table after receiving a 15-point deduction for entering administration on 22 October.

The club, formed in 1994, was forced to sack manager Duncan Ferguson and lay off four first-team players in an effort to cut costs late last month.

BDO, which previously took over the running of Heart of Midlothian and Rangers when they too entered administration more than a decade ago, is now handling the sale of the club.

A spokesman for the firm said there had been considerable interest, but that some had questioned how any money invested would be spent.

They said: “We have had many inquiries 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.”

The names of potential buyers have not been disclosed.

Businessman and former chairman Alan Savage has stepped in to fund the club for the remainder of the season.

Caley Thistle lost £1.2m last season when they were relegated from the Scottish Championship following a two-leg defeat to Hamilton Academical.

That came just a few weeks short of nine years on from their Scottish Cup win at Hampden against Falkirk on 30 May 2015.

The club is projected to lose a similar amount this year, but that does not account for restructuring following relegation from the second tier.