Caley Thistle strike deal to avoid administration
Alan Savage has taken control of the finances at ailing Caley Thistle
- Published
Inverness Caledonian Thistle have announced a deal they say saves the Scottish League One club from administration.
The news comes after former chairman Alan Savage revealed the Highlanders were facing a £1.7m loss.
A brief statement read: "Amicable deal has been struck that saves club from administration, all stakeholders should be delighted."
No details of the arrangement are given but Savage had been calling on three ex-directors, David Cameron, Allan Munro and Ross Morrison to help address the club's plight.
The trio were involved in a battery farm plan, rejected by Highland Council, and property deals near the Caledonian Stadium on land that used to be in the hands of the club.
Savage has also indicated he is willing to take full control of the club until a buyer is found.