The deficit was revealed by chairman Jim Mann, who is to step down from the position at the club’s AGM later this month.
“Losses on this scale are unsustainable in the longer term,” he said. “And urgent action is being taken to stem them and to increase income via season ticket and match-day pricing.
“In a recent BBC Scotland survey, we were shown to be the least expensive Premiership club to support in a number of categories.
“Despite this, attendances and season ticket sales have continued to fall and this is a major concern for the club.”
Meanwhile, Conrad Balatoni has told his Rugby Park team-mates to continue feeding Kris Boyd’s hunger for goals if they want to stave off their relegation threat.
Boyd ended a five-month goal famine with a double against St Johnstone a fortnight ago and Balatoni said: “Boydy is like any striker – he will miss a few, but his record speaks for itself. He is a goalscorer and I’m sure if the boys keep delivering for him he will score goals. We just need to keep feeding him the ball and hopefully he will do the business and steer us away from trouble.”
Inverness have no fresh injury problems ahead of tomorrow’s clash. Long-term absentees Aaron Doran (knee) and Alex Fisher (ankle) are still out, while David Raven (foot) and Dean Brill (knee) are pushing for first-team comebacks after recovering from injury.