Caley Thistle chief Fraser to step down

CALEY Thistle chairman George Fraser has announced his decision to step down from the top post – with his predecessor Alan Savage tipped to replace him.

Mr Fraser, who will remain a director of the SPL club, announced his decision to the board at the time of the recent cash injection of almost £250,000 from board members and shareholders.

The Inverness CT chief explained: “At the end of the day, I believe you have to have fresh blood coming into the football club. This is my sixth year as a board member and my fourth successive year as chairman and think it’s time to move on and make way for someone else.

“We’ll have a board meeting in a couple of week’s time and probably finalising it then, but I don’t see any problem in terms of finding a successor. We have a very strong board who have been around the club for a very long time and the club is in good health as far as that’s concerned.”

Orion Group chairman Mr Savage is thought to be favourite to return to the hot-seat in the Caledonian Stadium boardroom.

ICT’s latest accounts revealed last week shows a reduced loss of £190,000, which was helped by selling off the social club in the city’s Greig Street to vice chairman Graeme Bennett for £280,000.

It’s understood the board have also released funds this week to manager Terry Butcher as he looks to add at least one new player to his injury-ravaged squad before the transfer window shuts at midnight on Wednesday.

In Mr Fraser’s end-of-year report last week, he said that despite the £190k loss: “We remain, uniquely in the SPL, a club with no overdraft facility with any bank. Our historic debt, unlike that which is such a burden elsewhere, was removed from the balance sheet a number of years ago when the finances of the club were restructured.

"This, therefore, continues to be a self-supporting club at operational level and its shareholders and supporters must take satisfaction and credit for its ongoing financial wellbeing.”