The realisation of what has happened to Inverness Caledonian Thistle has begun to sink in, with administrators now in control of the club.
They swept into action on Wednesday morning to begin the process of settling debts after speaking with club staff.
Inverness CT, who soared to Scottish Cup glory in 2015 and subsequently played in Europe, now face the prospect of a second relegation in successive seasons.
The Scottish Professional Football League (SPFL) imposed a 15-point deduction after the club went into administration on Tuesday.
Caley are now bottom of the third-tier League One table on -3 points – putting them 12 points behind second-bottom Dumbarton.
There has been frenzied activity at Caledonian Stadium since the arrival of Glasgow-based administrators BDO.
The administrators have already spoken with club officials, players and non-playing staff, who will shortly find out whether they have lost their jobs.
Speaking before heading off for routine training with the squad, manager Duncan Ferguson said: “The administrators are in and I’ve been told that I will be told and my staff will be told tomorrow (Thursday) what the cuts are going to be.
“Obviously, there are going to be cuts to the coaching staff, non-playing staff and playing staff, that’s what I’ve been told. So, we’ve got to wait until tomorrow.”
Representatives of the players’ union, the PFA, have been on hand to offer support to the squad.
Local businessman and former club chairman Alan Savage, who has invested £350,000 in the past few months to help keep the club afloat, was involved in Thursday’s discussions.
Asked if he might want to take the club on himself, he said: “Once there’s a clear picture we’ll make decisions then, but there’s a step-by-step process and until we’ve gone through those steps it’s a bit early to say.”
Caley Thistle reported losses of more than £1m last season and expects to post an even worse set of financial results this year.
Various approaches have been made by potential investors in recent months but none were taken up.
A news conference is planned for noon on Thursday, hosted by BDO, after decisions have been taken about savings.
The Inverness Caledonian Thistle Supporters Trust said it was “disappointed” the club had entered administration.
A spokesperson said: “We are now paying the price for how the club has been governed in recent years, for living outwith our means, and focusing on the wrong priorities.
“Our thoughts are with everyone who will be impacted by this, including staff and players employed by the club. We sincerely hope that job losses can be kept to an absolute minimum and that everyone is provided with the right levels of support.
“We recognise that the 15-point penalty means we are now bottom of League 1. We believe that now is the time for our Highland spirit to come to the surface and to again prove that we can overcome adversity by securing enough points this season to remain in the league, giving us foundations on which to build next season.
“We know that all fans will unite behind the players and give them their full support.”
Inverness CT travel to face Dumbarton on Saturday. It is not yet clear who will pick the team.
Either way, it could prove the toughest test the club has ever faced.
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