Inverness blame Euro ties for financial shortfall

Inverness Caledonian Thistle sold Ryan Christie to Celtic but still made a loss. Picture: John Devlin
Inverness Caledonian Thistle sold Ryan Christie to Celtic but still made a loss. Picture: John Devlin
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Inverness Caledonian Thistle have blamed their European adventure for a deficit of more than £20,000 in their annual accounts announced today.

A spate of injuries suffered in the Europa League qualifying ties against Romanian side Astra Girugiu has been pinpointed by the club’s chairman Kenny Cameron as the reason for the £21,391 loss in the accounts to 31 May this year.

Even the sale of Ryan Christie to Celtic for a reported £500,000 wasn’t enough to prevent the shortfall.

The Highland side lost out 1-0 over two legs in their first foray into European competition following their Scottish Cup victory over Falkirk in 2015. However, the two clashes with the Romanian side saw 10 players pick up injuries. In addition, captain Gary Warren required surgery following the opening Premiership match of the season.

The extensive injury list led to further recruitment which saw the percentage of wages to turnover rise from 58 per cent the previous year to 65 per cent. While the club was aided by money from Christie’s transfer, turnover still fell by £256,000 as the club dropped into the bottom six following three consecutive top six finishes.

Cameron told the club’s website: “Considering the challenges posed by our injury situation, it was more than acceptable under the circumstances.”

On the back of the successful 2014/2015 season, season ticket sales rose by 20 per cent, although there was a similar reduction in the number of match day walk-ups. The club were buoyed by the more than 4,000 children that took advantage of the club’s initiative which offered free tickets.

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