Inverness Caledonian Thistle have officially entered administration - and have immediately been docked 15 points by the SPFL.
This evening, the club has confirmed that a formal appointment has been made and the League One side is in administration.
A spokesperson at BDO said: “We can confirm a formal appointment has been made and Inverness Caledonian Thistle is now in administration.
"We understand this will be a difficult and uncertain time for the club, its staff, its loyal fan base and the local community.
"The Administrators will be in a position to provide further information and their plan to seek to secure the long term future of the club in due course.”
It comes after months of speculation and concern over the club's financial future.
The team was formed 30 years ago, and could now potentially face liquidation.
A desperate attempt to raise £200,000 by the end of the month via a crowdfunder fell short, meanwhile, takeover talks for a new buyer also fell through.
A statement from the SPFL has confirmed that the club has been hit with a 15 point deduction in line with Rule E1.
Caley Thistle have dropped to the foot of the table on minus three points. They are now a whopping 12 points behind Dumbarton in ninth spot.
It reads: "The Scottish Professional Football League (SPFL) has today confirmed the imposition of a 15-point deduction for Inverness Caledonian Thistle, as per SPFL rules on clubs suffering an insolvency event.
"The William Hill League One table has been updated accordingly."
More to follow.
