Yahoo Sport 
Inverness Caley Thistle to enter administration as crisis-hit club fail to find a buyer
Inverness Caley Thistle will enter administration early next week after a last-ditch bid from a consortium of six failed.
The imperilled League One club, saddled with well over £3million in debt, expects to appoint administrators by Monday or Tuesday. Earlier on Friday, local businessman Don Lawson revealed that a consortium now known to include Cullen businessman David Anderson, with backing from past chairman Ross Morrison and ex-directors Allan Munro and David Cameron among others, would mount a renewed six-man bid to avoid insolvency.
It was also stated that the joint bid involved shareholders who already held more than a 50% stake in the club. But only a matter of hours later, that attempt fell flat with those involved conceding it was unworkable. That means the 30-year-old former Scottish Cup winners and Europa League qualifiers will suffer their biggest blow since formation with the fall from grace confirmed in a club statement on behalf of the board of directors.
READ MORE:Eagle eyed Celtic fans spot missing man from team photo day who Rodgers challenged to do more
It said: “The directors have signed a notice of intention to appoint administrators to be filed at the court.
“We envisage that the proposed administrators will be appointed on Monday or Tuesday. A plan is in place to allow the club to continue to trade whilst efforts to secure a long-term future are explored.”
Alan Savage, the former chairman and the board’s financial consultant during the latter period of crisis, was in close contact with all parties yesterday. Gordon Ritchie of GRM Marketing, who was closely involved in the consortium’s last-ditch bid as well as other potential buyers - said last night: “All through to 1 am this morning, from meetings that started at 8 am in Inverness, we have been working and communicating with the board and with Alan Savage - and other shareholders - to try and find a solution to assist the club in not going into administration.
“David Anderson was prepared to look at a £1.2 million purchase or investment or loan to the club, but on a joint look over the accounts with Alan’s accountant, it was clear an insurmountable level of investment was needed.
“In reference to the fast-moving discussions that were ongoing in exploring how we might make it work, previous directors all with the best interests of the football club at heart, were all looking to come to some form of conclusion with the club.
“But at the final stages, the complexity of it all meant all concerned felt administration was a decision they seriously had to consider.”
Caley Thistle will now face a 15-point deduction, setting them on -6 points - 12 behind previous bottom side Dumbarton. They will also be hit by a further five point penalty next season, but more seriously face potential job losses among staff, players and management.
