""It was a long process. "We expected administration to last about three months but it's taken nearly a year. "Inverness has been good to me personally and for my business, and I think inevitably people like me get involved in football clubs because they think it's the right thing to do. "In my case I felt I owed the city and the football club.""
""Caledonian Thistle (ICT) is no longer in administration after agreements were reached with its creditors. Businessman Alan Savage has now taken over 100% control of the Scottish League One club. ICT got into difficulty last year after running up large debts, including 3.5m in loans, and joint administrators BDO was appointed in October to oversee its finances. Mr Savage said he believed Inverness had a bright future and has suggested extra revenue could be generated through hosting music events, and building a petrol station""
Inverness Caledonian Thistle is no longer in administration after agreements with its creditors. Alan Savage has taken 100% control of the Scottish League One club after funding it and acting as chairman during the process. The club accrued large debts including 3.5m in loans, prompting joint administrators BDO to be appointed in October. Savage plans to generate extra revenue through hosting music events, building a petrol station at the stadium, using the car park as park-and-ride for tourist attractions, and linking the North Coast 500 scenic route to the stadium. Supporters welcomed the exit from administration and credited Savage’s intervention for the club’s survival.
Read at www.bbc.com
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