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Bud the Baker

Inverness Caley Thistle in Financial Trouble

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Losing £800k per year whilst in the Championship. :o

https://www.dailymail.co.uk/sport/football/article-7532541/Inverness-Caledonian-Thistle-latest-British-club-face-threat-administration.html

Quote

And with every year in the Championship costing Caley Thistle around £800,000 chief executive Scott Gardiner will plead with shareholders to step up to the plate or risk their club become the next Bury.

That statement seems a bit OTT if as they claim they have no debt but clearly they don't have the resources to challenge for the automatic promotion on a regular basis and are dependant on having a manager making inspired signings - unfortunately for them they've got John Robertson! :rolleyes:

An alternative solution would be to set a sustainable budget! :rolleyes:

GIRFUY Ross Tokely!

Edited by Bud the Baker

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What is it with football club owners like this that they can't run their clubs properly?

How hard can it be to simply live within their means?

I do wonder if we need to start banning them from holding directorships to curb this nonsense. They are gambling with peoples livelihoods.

Edited by oaksoft

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Jeeze......

How do you plan to ban people from being directors!?  :lol:

The SFA - the actual authorities - don't even pretend that they'd indulge such a madness.

If they pretend they have money the SFA are never going to question that. 

A new club was started and they ignored all the rules to get it going, then when a putsch happened and it was taken over by a convicted criminal it still kept turning that blind eye.

 

Honestly, oaky, asking for 'responsibility within fitba' is insane. Way, way over the top....

Even oor wee Saints need a close eye kept open to guard against things going financially agley.  Luckily we have LPM doing his bit for us all.

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5 hours ago, Bud the Baker said:

Losing £800k per year whilst in the Championship. :o

https://www.dailymail.co.uk/sport/football/article-7532541/Inverness-Caledonian-Thistle-latest-British-club-face-threat-administration.html

That statement seems a bit OTT if as they claim they have no debt but clearly they don't have the resources to challenge for the automatic promotion on a regular basis and are dependant on having a manager making inspired signings - unfortunately for them they've got John Robertson! :rolleyes:

An alternative solution would be to set a sustainable budget! :rolleyes:

GIRFUY Ross Tokely!

The fact they started as Caley and Thistle merging, they have always been split, and obviously don't have a sugar daddy like County

This is more about the fact that Scottish Football only cares about 2 clubs

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2 hours ago, antrin said:

How do you plan to ban people from being directors!?  :lol:

 

In the same way that you can ban people from holding directorships in any company.

Am I being whooshed here or did you not know that?

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I know that people CAN be banned from being directors in the real world but have you never seen the known convicted criminals that are directors in football clubs in all parts of the UK!?

No whoosh intended - I was genuinely agog and aghast at your appealing naivety.

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They've never been a financially prudent club and have required cash injections on several occasions 

Quote

But the free football he contrived to watch as a schoolboy in the 1960s has certainly been repaid many times over through Tullochs' support of Caley Thistle. £500,000 in 2002 gave the company a 29.9% stake in the club. In response to the recent change from public to private limited company status, he has pledged up to £150,000 more - probably of his own money - with one further significant guarantee. "Our stake will not rise above 49%," he revealed. "It is our distinct intention NOT to end up in a situation where we have control."

Tullochs also contributed £600,000 of the £1.5 million cost of the stadium upgrade to SPL standards and currently carry the £500,000 payable by the club. The Chairman agrees that his company has inevitably gained a lot of goodwill from its involvement with the club in general and that project in particular. But he insists that there is no hidden agenda for Tullochs who have already written off the £500,000 they paid for their initial 29.9% stake. Gain has never been a motivating factor, he says."We've given a feelgood factor to the Inverness area but I didn't look for a return in the business sense.

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Finances:  The company has reported a loss of £422K for the year ended 31 May 2017. It is the inevitable consequence of relegation. The club had budgeted to finish 7th (we had secured 4th, 5th, 3rd and 7th places in previous seasons) when in fact we finished 12th.  The financial shortfall translates to the difference in prize money for finishing bottom of the league.  Overall turnover in 2016/17 dropped by £676K (15%) from the previous season.  At £2,704K, spending on footballing was the third highest in the club’s history and accounted for 65% of our total spending. SPFL dividends were down £276K (21%), cup receipts and dividends were down £177K (35%) and season ticket sales were down by £43K (12%).  On a positive note, gate receipts in the league and cups were up by £193K from 2015/16.  Our home crowds for league games was 74.893, compared to 70,596 in the previous season.  As a result of relegation, our income for this season is forecast to drop by £1.2 million.  This is due to reduced SPFL and cup dividends, little TV money, lower season ticket sales, smaller home crowds and substantially fewer away supporters coming to Inverness.  At the start of this season, we secured a sizeable cash injection from existing shareholders to help address a cash flow shortfall, via loans, gifts and purchased shares totalling around £400K.  A further £100K is pledged. We are currently finalising a plan which aims to reduce losses and return the club to a firm financial position.

 

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