Financial trouble hit English football yesterday.  HM Revenue & Customs closed the first of several targets as Chester City, who were relegated from the Football League in May, finally bit the dust along with non-league, but wonderfully named, Farsley Celtic.  Southend United and Cardiff City, who are both being pursued by the Revenue, negotiated a few more weeks to meet their commitments.

Portsmouth, who are enjoying their football these days as manager, Avram Grant, defied gravity by reaching the FA Cup semi final at the weekend, made 85 non-playing staff redundant.  Gravity will eventually have its revenge once his team breaks up in two months.

Background noise grows around Manchester United as an approach by a group called the Red Knights talk to fans about buying out the unwanted Glazers.  The Glazers have no intention of going, so I would not normally give such an approach consideration, but the man heading up Red Knights is Goldman Sachs chief economist, Jim O'Neill, and you don't get that far up the food chain without knowing how to assemble a £1bn deal.  

He has reportedly pulled in further big hitters, including a hedge fund chief and the corporate head of law firm Freshfields, who worked on the Glazer takeover of the club.  The group are apparently seeking funds from our (very) old friends, Japanese investment bank Nomura.

Fans almost unanimously back the proposed bid.  A classic case of locking the stable door after the horse has bolted.  Noone, least of all an investment bank, is going to take a chilled view on a £1bn funding package.  If it means more debt, and it does, it means more interest, more financial pressure, higher ticket prices and less money for football operations.

When you borrow £1bn is doesn't matter if you were born supporters of the club, as the Red Knights apparently were, or need to Google the club to find out which colour they wear, the piper must be paid.

Manchester United fans should have bought and held shares in their club years before the Glazer deal in 2005.  If several heavy hitters, like those from Red Knights, together with tens of thousands of smaller fan-investors, acted before the stakes got out of control, their club would be safe.  By the time people saw the takeover coming it was too late.  

Anyway, I'm getting to the point of wasting five minutes of your time on pampered brands, never underestimate the importance of that 'dirty old picture on the wall all alone' detailing your Celtic shares.

Motherwell appointed Craig Brown as manager a couple of days before the New Year and although they lost their next game, they have completed January, February and some of March unbeaten in 11 subsequent league games.

The longest unbeaten run Celtic can boast this season is six games, Craig Brown can double run at home to Hearts on Saturday.  Motherwell conceded only twice in those 11 games, once against St Johnstone in a game the won anyway, and once against Rangers, in a game they would have won but for an 'honest' mistake by an assistant referee.

Craig has done a magnificent job which is truly worthy of respect, but when Granpa Broon can emerge from retirement to transform the fortunes of teenagers and journeymen pros at a penniless SPL club you have to wonder if we are over stating the extent of the challenges Celtic face.

If Celtic had been able to put together a run like this since Craig Brown arrived at Motherwell they would be hot favourites for the title right now.  We should write a case study on Motherwell's challenge and response to the issues they faced when considering Jim Gannon's future.

From CQN

Years from now this will make a great 'What happened next?' question.  Robbie Keane is running a good two yards behind play when Georgeos Samaras releases the ball into his path.  The assistant referee, also behind play, so he has the benefit of a clear perspective on the action, is a pace behind Keane and several yards behind the ball.

The assistant ref raised his flag, intimating that Keane (near the bottom of the picture) is ahead of the ball.  Although this didn't cost Celtic points, it is even worse than the ridiculous decision which cost Motherwell victory against Rangers recently.  

The question for the SFA is simple, when your referees are making decisions like this, are they fit for purpose?

If this is an appropriate standard, tell us, at least we'll know.  It doesn't look like Scottish officials are at an appropriate standard but I would be interested to hear an argument which suggests otherwise.

If this is not an appropriate standard, let's be honest about it and plan a route forward.