Inverness Caledonian Thistle have announced they're seeking new investment and are in talks with potential new owners.
In very concerning news for supporters of Caley Thistle though, should discussions with investors not materialise in a positive fashion, then administration could be the outcome for the League 1 club.
While confirming they have ditched plans to move the club's training base 135 miles south to Fife at the home of Kelty Hearts, Inverness chiefs also made it clear that they're in conversations with a 'suitably qualified insolvency practitioner' to gain advice on how to proceed should their bid to find new investment fall short.
A statement from the club's board reads: "The Board of Directors are in discussions with potential new investors into the club and remain hopeful of finding a new investor or new owners.
"However, in the circumstances we currently find ourselves in following the loss of the Statkraft contract at Caledonian Stadium which was worth 7 figures to the club and given the new financial position of the club, it is also prudent to approach a suitably qualified insolvency practitioner to advise on how we may proceed should our efforts to find new investment fall short.
"For clarity, on the football front, we have decided to remain training at Fort George for the foreseeable future."
It comes after chairman Ross Morrison resigned this week, which put the plans to relocate the club's training to Fife into serious doubt.
The club claimed the switch would make it easier to attract players from the central belt, therefore, enabling them to sign better players and save on accommodation costs.
The decision was met with fierce criticism from supporters as well as former players.
Angry ICT fans packed out an emergency meeting last midweek to create plans for a revolt against club chiefs, which included boycotting matches and refusing to purchase season tickets.
