\n<\/p>\n
Inverness Caledonian Thistle manager Duncan Ferguson says he is working for free to help the Highland club through a financial crisis.<\/p>\n
The League 1 club needs to raise \u00a3200,000 in two weeks to avoid being placed in administration this month.<\/p>\n
Ferguson, who took a pay cut in August, said: “I felt it would be appropriate for myself to offer my wage into that pot.”<\/p>\n
He said he would continue to work without his salary until ICT was safe, but added: “Obviously I can’t go without a wage forever because I have got to put food on the table, but at the moment needs must.”<\/p>\n<\/div>\n
The Inverness club confirmed on Thursday that interim chairman Panos Thomas has resigned with immediate effect “due to a personal family reason”.<\/p>\n
“It is now time for me to hand over to others to find a way forward for the club,” Thomas said in a statement.<\/p>\n
The news of Thomas’ resignation comes after Caley Jags wrote to shareholders warning them the club was at risk of being insolvent.<\/p>\n
It has appealed to major shareholders and former directors for help, and suggested setting up a Save ICT Appeal to help raise the \u00a3200,000.<\/p>\n
Ferguson said he decided on Wednesday night to give up his wage.<\/p>\n
He said he would not ask others to do the same.<\/p>\n
Ferguson added: “I’ve done my bit. I’ve given up that wage and I’m still working for the club.<\/p>\n
“I’m making sacrifices.”<\/p>\n
Ferguson played for Dundee United, Rangers, Everton and Newcastle United before returning to Everton.<\/p>\n
His coaching career included a spell at Forest Green Rovers.<\/p>\n
Ferguson joined Inverness last September following the sacking of Billy Dodds and his assistant Barry Wilson.<\/p>\n
The club was bottom of the Championship at that time.<\/p>\n
It was later relegated in a play-off against Hamilton Accies.<\/p>\n<\/div>\n
Even if it successfully avoids going into administration this month, ICT said it would need further injections of funds to survive the rest of the season.<\/p>\n
Losses ran to \u00a31.2m last season and the club has forecast a similar loss this season, but warned that figure would not include money spent on restructuring following relegation.<\/p>\n
ICT Supporters Trust has urged major shareholders and former directors to help prevent the club from going into administration.<\/p>\n
It said: “We are hugely concerned about recent events regarding the club\u2019s financial future.<\/p>\n
“It was only five weeks ago that supporters were advised that the club had been saved and administration was no longer a possibility.”<\/p>\n<\/div>\n