Inverness Caley Thistle approach insolvency practitioner as training ground U-turn confirmed

Inverness Caley Thistle have confirmed that they've approached an insolvency practitioner amid financial uncertainty at the club.

ICT chiefs remain in discussions with potential new owners or investors as they look to sell the club or secure an injection of cash. But as a backup plan they are also seeking advice on how best to proceed should the much-needed new funding not be found. It comes after a deal worth seven figures with Statkraft fell through.

In a statement released today, the club also confirmed a U-turn on the decision to move their training base to Kelty which had caused uproar among the support. It 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."

Duncan Ferguson's side were relegated to League One from the Championship through the play-offs and face an uncertain future.