Inverness reveal loss

27th August 2008

Inverness have revealed the club made a loss £432,000 for the year up to the end of May.

The Clydesdale Bank Premier League side have published their annual accounts, which had previously seen two years of profit totalling £490,000.

One of the main contributing factors towards the loss would appear to be striker Marius Niculae.

The Romania international's wages are included in the profit and loss account, but the £275,000 share capital received to sponsor his arrival appears in another account.

Furthermore, the transfer fee of around £380,000 received for Niculae's sale to Dinamo Bucharest arrived too late for this year's accounts.

Chairman George Fraser told the club's official website: "The budget for the 2008-09 season will not be impacted by the loss and we have set a football budget which has already delivered the arrivals of Adam Rooney and Andy Barrowman at the club.

"It is important to note that the accounts for 2008-09 will include the transfer fee paid by Dinamo Bucharest for Marius Niculae which will positively impact our year end."

The Highland club were promoted to Scotland's top flight in 2004 but did not play their home matches in Inverness until the following year.

The move home had a significant positive impact on Caley Thistle's finances.