"The ICT Thread - From the Premiership to the Seaside"

[Doormin]

I'm very interested in why Inverness would go with Puma and have to hand them £125k a year.

[Central Belt Caley]

We should really have a FAQ to prevent folk coming in and asking the same questions over and over again ffs 

[ExiledLichtie]

1 hour ago, The Black Flag said:

Has this not been gone over already?

Sorry, but we can only give you so much attention with all these other posters whom are actually interested in the developments rather than trying to point score.

Please hold the line.

 

2 hours ago, forkboy said:

 That was one of the things I was hoping would've been answered at the meeting Monday but doesn't seem like anyone bothered.

Seems it hasn't been "gone over already".  

[PB1994]

On 07/10/2024 at 21:27, PB1994 said:

We still owe the directors £3.42 million as we didn’t have enough shares available to convert that into equity.

 

5 minutes ago, ExiledLichtie said:

 

Seems it hasn't been "gone over already".  

Sure.

[Sir Tarmo]

2 hours ago, Otis Blue said:

Fair comment this ... why don't you set up a thread purely for "ICT Administration" for instance and all the interested observers (eg fans of the other 9 L1 clubs) and amateur business accountants can post their views in there.  Leaving this main ICT thread for the purely fitba matters and associated banter.  Just a suggestion.

ExiledLichtie in that thread would be the modern version of WhiteRoseKillie in the BRALT.

27 minutes ago, The Mallan Streak said:

SAYS THE CLOWN

WHO MADE A COMPLETE c**t OF HIMSELF IN THE LOWLAND LEAGUE THREAD LAST WEEK.

STICK TO SHINTY YOU HALFWITTED INBRED TWAT.

I’ve no idea who you are or what you’re talking about but I can only assume you’re another Arbroath dribbler that’s part of my fan club.

[1320Lichtie]

29 minutes ago, The Mallan Streak said:

SAYS THE CLOWN

WHO MADE A COMPLETE c**t OF HIMSELF IN THE LOWLAND LEAGUE THREAD LAST WEEK.

STICK TO SHINTY YOU HALFWITTED INBRED TWAT.

[qos_75]

Is there an FAQ’s section on this thread? 

[Steve Carrella]

1 minute ago, qos_75 said:

Is there an FAQ’s section on this thread? 

Oddly no,  but that is a frequently asked question. 

[strichener]

4 hours ago, parsforlife said:

Pre-pack isnt designed to save the current company, it's for a new company to take on the assets of the old one and continue a business that way.  Depends just how rangersy are they? 

After the Rangers debacle, it matters not a jot.  The club and the company are two distinct entities within the rules so the club and their operating company can easily be split with the club being moved into a new operating entity.  We don't have to like it but that is the reality.

Now that it has been done once and is codified, I would expect any company operating a club would take this approach if there was no way to avoid liquidation.  A pre-pack is the cleanest way of doing this.

Edited 8 hours ago by strichener

[ExiledLichtie]

1 hour ago, PB1994 said:

 

Sure.

So run this by us all again.  The heroic saver of ICT, the man who ran a forensic audit of the club, breathlessly announced that he had made an agreement to write off all the debt, and told the whole world that it was a done deal, only for Mr Forensic to realise after his announcement that it wasn't in fact possible?  Is that correct?  That sounds pretty incompetent actually.  Why not just write off part of the debt?  Why did it have to be all or nothing?

But no, it seems ICT fans will happily swallow anything they're told.  

Edited 8 hours ago by ExiledLichtie

[Sortmeout]

22 hours ago, Ivo den Bieman said:

Someone asked up the forum if there had been a more dramatic decline in Scottish football history, than ICT dropping from being Cup winners in 2015 to their present parlous state. The closest answer is Third Lanark- beaten Cup finalists in 1959 and third in the Scottish top flight a season later; defunct after a few years of a shyster crook as chairman, in 1967.

Clearly ICT in an almighty mess and hope a way can be found through it. Agree that having Savage involved, Charlie Christie a more central role would be critical to the re-building of the club. If you do end up part time and in League Two because of admin, then you could do worse than have a combination of Bollan and Jack in charge- both know the part time leagues very well.

All the best.

There’s no way that either of the above examples are even close to what happened to Rangers.

[Savage Henry]

2 hours ago, Doormin said:

I'm very interested in why Inverness would go with Puma and have to hand them £125k a year.

It makes absolutely no sense whatsoever.  
 

Nor does paying Duncan Ferguson more than most top flight managers when you know the club can’t afford it.  
 

I think the entire board is not just complicit, but incompetent.  
 

edit: I see that oddball Charles Bannerman is saying he expects liquidation. 

Edited 7 hours ago by Savage Henry

[Doormin]

Just now, Savage Henry said:

Nor does paying Duncan Ferguson more than most top flight managers when you know the club can’t afford it.  

Again - I haven't read the opic or much of background stuff - but you're right it is mental. At the beginning was it not said that Ferguson was being paid entirely from an outside investor?

The only thing i can think of with Puma is hes refysed to go (say) 60/40 split with Puma on all items sold and has instead invested heavily in the fans of Inverness wanting to buy replica William of Orange strips. Which wouldn't surprise me, having had him at Dens.

[Savage Henry]

5 minutes ago, Doormin said:

Again - I haven't read the opic or much of background stuff - but you're right it is mental. At the beginning was it not said that Ferguson was being paid entirely from an outside investor?

The only thing i can think of with Puma is hes refysed to go (say) 60/40 split with Puma on all items sold and has instead invested heavily in the fans of Inverness wanting to buy replica William of Orange strips. Which wouldn't surprise me, having had him at Dens.

I was told he was being paid by a director.  Which if true, would mean him working for free would be meaningless unless that money was being redirected into the club by said director.  I can only assume that it was actually the club that was paying him all along, but the board was under the impression that they weren’t.  
 

As I say, complicity and incompetence are hand in hand here.  But it also stinks to high heaven of money laundering. 

Edited 7 hours ago by Savage Henry

[PB1994]

51 minutes ago, ExiledLichtie said:

So run this by us all again.  The heroic saver of ICT, the man who ran a forensic audit of the club, breathlessly announced that he had made an agreement to write off all the debt, and told the whole world that it was a done deal, only for Mr Forensic to realise after his announcement that it wasn't in fact possible?  Is that correct?  That sounds pretty incompetent actually.  Why not just write off part of the debt?  Why did it have to be all or nothing?

But no, it seems ICT fans will happily swallow anything they're told.  

There wouldn’t be a club in existence without him so yes he has been the saviour, for now anyway. We went 5 years with the guys in charge of the club refusing to communicate with fans, pissing off local business and shelling out cash on massive contracts and stupid business deals so aye we are quite happy with someone coming in and keeping us up to date with what is going on even if that includes things not going to plan.

About 90% of the debt is to one person I’d imagine so it’s an all or nothing situation.

[ExiledLichtie]

42 minutes ago, Savage Henry said:

I was told he was being paid by a director.  Which if true, would mean him working for free would be meaningless unless that money was being redirected into the club by said director.  I can only assume that it was actually the club that was paying him all along, but the board was under the impression that they weren’t.  
 

As I say, complicity and incompetence are hand in hand here.  But it also stinks to high heaven of money laundering. 

It was repeated over and over on this thread by ICT fans as a matter of faith that he was being paid separately, and it wasn't costing the club anything.  Until one day it wasn't true after all, and all the ICT fans just quietly moved on to their next story.

Much like their cleared debt story actually.

 

[Connor Macleod]

3 hours ago, Doormin said:

I'm very interested in why Inverness would go with Puma and have to hand them £125k a year.

Cause Scot Gardiners wife is a broker for Puma him & his wife would've made a fair buck from that deal 

[Connor Macleod]

5 hours ago, ExiledLichtie said:

That's true, we Arbroath fans don't know anything about administration.  Because our club spends within its means.  

[Doormin]

10 minutes ago, Connor Macleod said:

Cause Scot Gardiners wife is a broker for Puma him & his wife would've made a fair buck from that deal 

This reminds me of the time John Brown got the Dundee job out of nowhere.

At 150/1.

[Connor Macleod]

12 minutes ago, Doormin said:

This reminds me of the time John Brown got the Dundee job out of nowhere.

At 150/1.

Aye the usual job for the boys & Bomber Brown has never been a manager since wouldn't be surprised if Big Dunc suffers the same fate.

I wouldn't be surprised if Gardiner is mates with the Carlisle chairman or something like that cause I'm struggling to think of any other reason why he refused £80k for Cammy Harper.