Inverness Caledonian Thistle are set to enter administration.
Failure to secure investment means it is highly likely this is the route the club must take if they are to survive.
The P&J says that the League One club stand to lose £1.2m this season. They add that a significant cash injection is required before the end of 2024.
Alan Savage, Caley Thistle's former chairman, has been trying to find a buyer for the club in recent months.
However, after failing to do so, administration is the inevitable option for the club.
Savage used £200,000 of his own money to keep the club operating in August.
The report states that top football administrator Bryan Jackson has put Inverness on to BDO, who are the accountancy firm that oversaw the liquidation of Rangers and were administrators for Hearts and Dunfermline Athletic.
It seems BDO will take the club into administration as the next course of action.
This will immediately spell trouble both on and off the park, with redundancies and a points deduction looming.
The SPFL could hand out a deduction of 15 points, which would be a hammer blow to Caley Thistle's hopes of promotion back to the Championship.
Duncan Ferguson's team are already five points off Queen of the South at the top of League One. If the maximum punishment is dished out, then they could see themselves bottom of the table on minus six points.
Meanwhile, the club have announced the signing of Charlie Reilly on loan from Dundee.
The 22-year-old has joined on a short-term loan until January next year.
During the 2022/23 season, Reilly scored a whopping 24 goals and provided 19 for Albion Rovers as he was nominated for Scotland League Two Player of the Year.
He also earned a PFA Young Player of the Year nomination, which earned him a move to the Scottish Premiership.
Reilly spent a portion of last season on loan with Arbroath.
