ICT Repay Loan to The Highland Council

Inverness Caledonian Thistle Football Trust has repaid a loan of £600,000 to The Highland Council, which was used to upgrade the Tulloch Caledonian Stadium, Longman, Inverness to meet Scottish Premier League standards.

David Sutherland, Chairman of the Trust, presented a cheque for the full amount to the Council’s Convener, Councillor Alison Magee, one year after the unsecured loan was confirmed by the Council. The Trust were given 20 years in which to repay the loan.

Councillor Magee, who cut the ribbon to formally open the North and South stands in January 2005, said the Council was delighted that the loan had been repaid so swiftly.

She said: “We were delighted to have been of assistance in helping with this exciting project, which enabled the club to play its home games at Inverness and firmly establish itself in the Premier League. 

“The club has brought distinction and success to the city and the wider Highlands and we are all extremely proud of the club’s achievements.”

Mr David Sutherland, Chairman of the Football Trust, said: “The help and support of The Highland Council was vital in ensuring our return to our home at Tulloch Caledonian Stadium. Without their input in both financial and professional terms, meeting the deadlines required by the Scottish Premier League would have been impossible. Therefore, it is only right that, despite being afforded 20 years to return the funding, we repay our debt accordingly.

“In addition, as both the Convener, Councillor Magee and Chief Executive Arthur McCourt, have announced their retiral, it is an appropriate time to acknowledge the pivotal roles they have played in securing top flight football for the Highlands. The rest, as they say, is up to us!”