Everton legend Duncan Ferguson has been sacked as Inverness manager amid the side's dire financial situation that has them slump to the foot of the Scottish third-tier and in a fight for their survival.
The club entered administration earlier this week, triggering a 15-point penalty. Ferguson, who had been working for free in a bid to aid their situation, revealed that he and two coaches had left the club on Wednesday.
Players and other members of staff are reportedly expected to hear about their futures on Thursday.
'Myself and my staff now we've left the club.' Ferguson told BBC Scotland. 'Of course we were expecting it over the last couple of weeks. This is the cost of administration isn't it? So, myself and my two coaches have left as we speak.
'I've done the very best I can for the club and for my players. I've always tried to support my players behind the scenes and they all know that and that's the most important thing for me, that I've supported my players.'
Everton legend Duncan Ferguson has been sacked as manager of Inverness Caledonian Thistle
The side were relegated to the third-tier of Scottish football after defeat in the play-off last season
Caledonian Thistle face a fight for their survival after entering administration earlier this week
The former Scotland international took over at Caledonian Thistle last September following the sacking of Billy Dodds, with the club sitting bottom of the Championship.
The outfit were later relegated to League One after a play-off defeat against Hamilton Academical. The challenging role was Ferguson's first as a manager since departing Forest Green after only 18 matches in January 2023.
Ferguson reportedly personally paid for Inverness players' petrol and fuel money as well as other day-to-day costs.
Administrators are attempting to find new owners to rescue the club. If that fails, assets could be sold and the money raised distributed to creditors.
'It's brutal isn't it? It's really tough to get a 15-point deduction.' Ferguson added. 'It all depends on how deeply they cut the playing squad, if they can manage to stay in the division, I think it's possible.
Ferguson's last role as a full-time manager came during a short stint with Forest Green last year
'I think I brought a lot of good players to the club, they'll be big assets to the club in future. So yeah, I think the club can stay in the division if they can hold onto their players. If not, it's going to be a tough ask.'
Inverness currently sit bottom of the third-tier on -3 points. Regardless of what division they are in next season, they will start on -5 points.