Niculae signing contributes to Inverness losses

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

The Premier League side 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 said: "The budget for the 2008-09 season will not be impacted by the loss and we have already delivered the arrivals of Adam Rooney and Andy Barrowman at the club. It is important to note the accounts for 2008-09 will include the fee paid for Niculae which will positively impact our year end."