Inverness Caledonian Thistle's joint administrators caution that the club remains in danger of demotion despite a vital win against Arbroath. With significant debts, BDO was appointed to assist in financial recovery and ownership transition. They stress the urgency for shareholders to accept the proposed terms from preferred bidder Alan Savage. Conditions include total voting share transfer and debt absolution. A meeting scheduled for May 22 could facilitate exiting administration if prerequisites are fulfilled. The risk of relegation persists if shareholders disagree, underscoring the precarious situation faced by the club following a points deduction for financial issues.
"The conditions set by Alan Savage must be met by shareholders to ensure the deal goes through, which is critical for the club's survival and future in the league."
"If shareholders do not agree to the proposal, this may lead to the assets being sold to another entity, risking ICT's place within the league."
#inverness-caledonian-thistle #financial-administration #relegation-risk #shareholder-agreement #league-1
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