Inverness Caledonian Thistle have announced that the club has successfully avoided administration.
This news comes after former chairman Alan Savage, who was recently appointed as a consultant, disclosed that the Scottish League One team was facing a substantial loss of £1.7million for the 2023-24 season.
Savage urged three former directors to step in to assist the club and has offered to take the reins of ICT until a new buyer is secured.
In a statement, the club confirmed, “An amicable deal has been struck that saves the club from administration; all stakeholders should be delighted.”
Savage expressed his satisfaction with the outcome, stating, “It’s a great result and hopefully we get another one on Saturday.”
Inverness host Queen of the South this weekend and interim chairman Panos Thomas also shared his enthusiasm, by shifting his focus to Duncan Ferguson's side producing a positive performance in the upcoming match.
Further details around the deal have yet to be disclosed.
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