Caley Thistle - A timeline of events - video Dailymotion

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00:00Caledonian Thistle is facing administration, so here's a timeline of events to keep you up to date.

00:07August 13th, former chairman Alan Savage re-entered Inverness Caledonian Thistle,

00:13suspending negotiations with prospective new owner Ketan Makwana and officially ending CEO Scott Gardner's role,

00:21promising to stabilize the club's finances.

00:25August 14th-15th, Savage's appointment faced a setback,

00:29when he was registered on Companies House and then immediately removed due to a clerical error,

00:34causing confusion and concern amongst fans and the local business community.

00:40August 19th, Savage secured a crucial agreement to wipe out over £3m in historic debt,

00:47including £2.1m written off by former chairman Ross Morrison,

00:52significantly easing the club's financial burden.

00:56August 21st, it emerged that Portuguese investors were interested in injecting £2.5m into the club,

01:04but the deal did not progress, leaving the club's future ownership uncertain.

01:09August 27th, Savage announced that he was willing to take control of the club for up to three years

01:15if he could finalise the debt reduction, emphasising that administration still loomed as a possibility.

01:22August 28th, Savage revealed a £1.7m loss from previous management,

01:28calling on past directors to contribute £600,000 to help avoid administration

01:34and introducing the option of crowdfunding if necessary.

01:39September 9th, legal troubles arose when former CEO Scott Gardner pursued a £70,000 claim against the club,

01:46prompting Savage to enlist lawyers to dispute it and raising further concerns about the club's financial state.

01:54October 1st, the Inverness Courier revealed the club had contacted an accountancy firm, BDO,

02:01regarding potential administration, escalating fears about the club's future stability.

02:07October 2nd, the club confirmed it needed to raise £200,000 by October 16th to avoid administration

02:14and announced plans to launch a crowdfunding campaign to raise funds,

02:18while scheduling an urgent shareholders' meeting on October 7th to discuss the crisis.

02:24This story is changing quickly. Stay up to date on our website.