Inverness Caley Thistle chairman says club is facing ‘significant pressure on our cash flow’
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The chairman of Inverness Caledonian Thistle FC has issued an appeal to sponsors to renew advertising deals because the club now faces a “significant pressure on our cash flow.”
The move was prompted by Highland Council’s hugely controversial refusal of a battery storage facility near the Fairways Business Park that would have generated a game-changing £3.4 million cash injection for the club
Chairman Ross Morrison is looking to secure cash from sponsors early “to help us through this situation” while the club appeals against the council’s refusal of the application with the Scottish Government.
• Highland Council rejects vital Caley Thistle renewables project with club’s future now in doubt
• Caley Thistle CEO claims 'fix was in' as Highland Council rejects £3.4m battery farm
• Chairman Ross Morrison says Inverness Caledonian Thistle will have to restructure from June
Earlier this month, Mr Morrison revealed the club has to restructure its finances this summer and will be looking at all areas, including its youth academy, as part of that process while also looking at ways to bring in new investment.
Mr Morrison said: “To that end, I am writing to all our sponsors to ask if you would be able to help us through this situation by renewing your advertising with us slightly earlier than normal.
“If you are able to renew by return, it would be hugely appreciated by everyone at ICTFC and will not only help the club continue in our current form, but it will also allow us to continue the great work we do in the city and beyond, especially as we enter our 30th anniversary.
He added: “If you can help us, we would be able to thank you for that support by offering a 15 per cent discount on last season’s price for an early renewal.”
In the email sent out to sponsors, Mr Morrison was clear about the source of the current financial predicament – Highland Council, and how the rancour from the spat has still to fade.
He said: “As I am sure you are aware, we have recently and very disappointingly, had planning refused by Highland Council for the installation of a four acre battery energy storage farm on the site of the former Fairways Golf Course, the reason given was due to loss of green space in a private green space area of 200 acres.
“This is despite the fact that one of our many important and impactful Caley Thistle community projects involves the complete resurrection of a significantly larger green space adjacent to Inverness Royal Academy, which is a ten acre site that will be used as a community hub for the city and beyond, promoting physical and mental health wellbeing for thousands of people both young and old in the Highlands.
“Our quest to seek planning permission for the battery farm has now been escalated to Scottish Government level and it is our strong expectation that the Highland Council’s decision will be overturned on appeal but this will take a number of months.”
He added: “What this means is that we face significant pressure on our cash flow.”
