Alan Savage makes bid to take over Inverness Caley Jags

Inverness Caledonian Thistle investor and former chairman Alan Savage has made a bid of £800,000 to take over the trouble-hit club.

The club was placed into administration last October after running up large debts.

The administrators warned earlier this month that the Caley Jags were at “significant risk” after an unsuccessful attempt to find a new owner.

Mr Savage, who has been providing funding since last summer, said his offer was on condition of him taking 100% control.

He said his bid would expire on 11 April.

On Thursday, the joint administrators said they had “re-engaged” with a number of potential buyers for the Scottish League 1 club.

It emerged earlier this month it had not been possible to secure a new owner due to uncertainties around loans and shares.

But BDO Administrators said a meeting of loan creditors, major shareholders and a former director had led to an agreement that could see loans written off and major shares returned to Inverness Caledonian Thistle (ICT).

It said discussions were “ongoing” with four to five interested parties.

By the end of the current season, Mr Savage will have provided a £1m to ICT to keep it going.

Earlier this month, he suggested moving to a new, smaller stadium could help save the club money.

Mr Savage said 7,512-capacity Caledonian Stadium, which was opened in 1996 and upgraded in 2004, was too big and costly to run.

He suggested a new stadium could be built at Inverness Campus, a site already home to Inverness College UHI and the NHS’s Highland National Treatment Centre.