Caley Thistle crowdfunder launched to save the club from administration smashes through £25k barrier in less than 24 hours following Everton legend Duncan Ferguson’s decision to work for free
A crowdfunder launched to save Caley Thistle from the immediate threat administration has smashed through the £25,000 barrier in less than 24 hours.
By 9 am today, the GoFundMe page launched on Thursday afternoon stood at £25,968 with 619 individual donations.
A letter to shareholders from now resigned chairman and director Panos Thomas earlier in the week highlighted the club’s “perilous” situation and the need to raise £200,000 this month to keep the club solvent.
It stated that the sum would be required by October 16 or else administration would be “inevitable”.
The sum is a small portion of the £1.4m to £1.6 million the board needs to see the club through to the end of the current season.
Manager Duncan Ferguson has led the way by volunteering to work for free rather than collect his already reduced £1200 a week salary.
The plea for fans to join the fundraising effort has been met with a stunning response, with a plethora of small donations and three four-figure contributions - the biggest being £1,500 from Mackenzie & Cormack Solicitors from Tain.
The crowdfunder states: “The board of directors are exploring all avenues to raise funding to save the club from entering administration.
“Since the Club was formed in 1994, it has been supported, financially, by various local businesses and individuals.
“However, as outlined in the report to the shareholders, the club requires in the region of £1.4 million to £1.6 million to survive until the end of the 2024/25 season and has been unable to secure further investment.
“Of those funds, an amount of £200,000 is required immediately to meet the cash requirements of the club for the current month of October and will need to be raised no later than Wednesday 16th October 2024.
“The club really appreciates the support it has had from fans over the years and recognises that it forms an important part of community life for many.
“We would be grateful for any donations, large or small, in an attempt to save the club.”
