Not for the first time around Ibrox, we’re deep into denial territory than an insolvency incident is imminent. A whole load of irrelevant questions have been answered; they will not go into administration on ‘Sash Wednesday’, nor will a board meeting be convened today, but the pertinent question, whether club consultant Philip Nash, and director Graham Wallace, have held pre-administration talks, remains curiously unaddressed.
My information is that administration is only one of a number of options under consideration.
They have alternatives. A sale and leaseback of the stadium and (still magnificently named) Murray Park could provide the club with enough money to see them through until season ticket renewal time next year, when they have a chance of being in the Premiership. If it was your objective to maintain shareholder value, this must surely be considered. Cast your mind over what we know about the bulk of the shareholders and there should be no doubt about their priorities. These are not shareholders who will accept cumulative losses or even a pound-in-pound-out model.
They could continue to secure assets against borrowing from hedge fund-shareholders at an interest rate of 30%. This is an attractive return for a hedge fund. If they secure the stadium in return for a future loan they will be in a position to earn attractive returns from whichever club plays there for many years to come.
If you are a fan, or indeed, a director of Oldco, who set on a path to liquidation, this reality will feel intolerable. Those responsible for strategy, oversight and governance at Oldco set the wheels in motion; Newco’s burden is a consequence of Oldco trying to put their rivals in their place, and allowing the wolves in.
Intolerable though the situation may be, I’m not sure what can be done about it. Using season ticket sales to threaten to subvert the value of investments made by hedge funds, and shareholders who have made it their absolute priority to remain anonymous, is incredibly risky. Incredibly. Risky.
Here’s the question, are those anonymous investors likely to submit to threats, or are they the kind of people who can afford to play hardball and would raze the stadium to the ground rather than be bullied?
My guess is we are talking about hardnosed, wealthy individuals, who will forever remain anonymous and who have never been bullied by minority shareholder action in their lives. It’s easy to whip football fans into a pitchfork-esque revolt, 10 years of CQN has provided regular evidence of this (mostly over comparatively trivial misinformation), but if this was my club, I’d be going off my head at the behaviour of just about everyone involved and I don’t think I’d be able to sleep at night.
‘Seville’, the book detailing the incredible stories you, the Celtic support, experienced and set down on record, is out this month. To order your copy click on the link below.
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No Excuses
The last minute winner in the last league game that season was Alan Thompson.
no excuses
20:38 on 3 March, 2014
On the subject of racism does anyone remember what the rangers end treated us to on the last Old Firm game of 2004 (I think)? It was the year we beat them in all 6 games and the game I’m referring to was the last minute winning chip from Sutton.
Point I’m taking a while to get to is the rangers turned up with potatoes and flung them onto the pitch at various stages in the first half , including at Petrov when he was taking a corner.
Don’t think much was made of it , even by us, because we were too busy laughing at how gash they were that year under Eck.
Right around the time of the one Scotland many cultures campaign as well. And to think those same people think nothing of picking up the phone to the Police when NL puts cups his ears at the end of a game.
——————————————————————————————————————
No excuse . I remember that , but I also remember that one journalist can’t recall who quoted that the rangers fans supplied the tatties , and McLeish supplied the mince .
Still no cqten tickets have been delivered to jimtim
2 1 st pauli
2-1 St. Pauli 89 mins
JimTim, I don’t have my CQteN tickets yet either.
As they say, don’t panic!
jimtim
Oldtim was informed by winning captains earlier today that a number of tickets were posted today so hopefully your tickets will arrive tomorrow.
Good to hear St P winning- I was there a couple of years ago and they certainly know how to support their team
Originally went 433 an came up with this team:
forster
lustig van dijk kennedy mcnamara
Brown wanyama petrov
hooper sutton rob keane
then decided it looked good on paper but wouldn’t be balanced so went 442 reckon this team cud win English premier:
forster
lustig van dijk kennedy mcnamara
mcgeady wanyama petrov thompson
sutton rob keane
manager both times Lennon
timbhoy2
20:12 on 3 March, 2014
Hey, you….am fae Castlemulk……hahahahahahahahahahahahahahaha….!!
sT. Pauli win 2-1
I understand bhoys , I’m just so looking forward to it , patience I wasn’t,t blessed with .
Cheers bhoys
Scotland’s Shame,
Remember to send one of those teams to……
doccqtem@gmail.com
doccqten@gmail.com
Sorry
Stairheedrammy
Yes, left Greenock quite a few years back
Peter Lawwell elected to board of European Club Association Published on 3 March 2014
Celtic chief executive Peter Lawwell has been elected to serve on the main executive board of the European Club Association.
Lawwell will join other existing board members including chairman Karl-Heinz Rummenigge of Bayern Munich, AC Milan’s Umberto Gandini, Edwin van der Sar of Ajax and Arsenal’s representative Ivan Gazidis.
The European Club Association is the sole, independent body directly representing football clubs at European level.
Lawwell told Celtic’s official website: “This is a tremendous honour and a role which I very much look forward to undertaking.
“European football is an ever-changing landscape and from the perspective of Celtic, it is vital that we ensure we are at the heart of the action and at the centre of discussions regarding the development of the game.
“As we look to the future, I look forward to representing Celtic, Scottish clubs and the other clubs in Europe to ensure that the voice of these clubs and their supporters is heard.”
HH
I don’t know if this has been posted before but my son sent me the photo, Paddy Power sinking to a new low:
http://img21.imageshack.us/img21/964/jy4m.jpg
Former German star Karl-Heinz Rummenigge is at the centre of a storm after failing to reveal who gave him two Rolex watches, said to be worth £84,000, while he was on a trip paid for by World Cup 2022 hosts Qatar.
Rummenigge, a losing finalist in the 1982 and 1986 World Cup finals, is now chief executive officer of German giants Bayern Munich and head of a powerful coalition of top European football clubs, the European Club Association, which represents the biggest teams from the Premier League, Bundesliga,La Liga and Serie A.
The 58-year-old travelled to Qatar with around 200 colleagues for the ECA’s annual assembly. Their flights, luxury accommodation and three days of hosting for delegates cost an estimated £500,000 and were wholly funded by Qatar 2022 organisers.
Rummenigge ran into trouble on his way home from Doha when he was stopped by customs officials at Munich airport on February 7 as he passed through the ‘nothing to declare’ channel.
When the watches were discovered, he said they were a gift from an unnamed friend and he had not realised he had to pay import duty on them. Reports in Germany say the local tax authorities have now fined him €250,000 (£209,000) for not declaring the watches at the time.
Rummenigge, as chairman of the ECA, will be an influential voice in the debate over whether Qatar should keep the 2022 World Cup. Fears have grown that the excessively high summer temperatures in the desert state will make staging the tournament dangerous for fans, even if the Qataris keep to their promise of air-conditioned stadia.
Qatar also faces threats to their hosting of the 2022 event from Europe’s major leagues, broadcasters, losing rival 2022 bidders and from a corruption probe being led by an American lawyer Michael Garcia.
Any suggestion that anyone in Qatar gave Rummenigge six-figure gifts while on business there would only increase pressure on the 2022 hosts to be more transparent about how they won the right to stage the event and how they are trying to stop it being taken away.
The ECA will be consulted on any proposed move of the 2022 World Cup from summer to winter and Rummenigge has already been supportive of Qatar keeping the event, suggesting holding the World Cup in April. ‘The temperatures in Qatar then are really quite pleasant,’ he told German newspaper Bild.
Both the ECA and Qatar 2022 organisers have confirmed that the Qataris footed the bill for the February convention in Doha. A Qatar 2022 spokesman added: ‘The Qatar 2022 Supreme Committee will occasionally provide hospitality and/or gifts of an appropriate nature to guests or individuals.’
Asked about gifts on top of flights and accommodation, a spokesman for the ECA said: ‘Our members were offered a passport holder of nominal value at the conclusion of the event. Our chairman [Rummenigge] was presented with a Qatari cultural gift, a model Arabian horse.’
Premier League representatives on the trip included Arsenal’s chief executive Ivan Gazidis and Manchester City’s Ferran Soriano. Club sources say neither accepted gifts beyond the passport holder.
The Mail on Sunday asked the ECA to clarify the identity of the ‘friend’ who gave Rummenigge the watches and to explain their relationship to Qatari football, if any, but an ECA spokesman said: ‘This is a private matter.’
Qatar’s project is under renewed scrutiny after human rights organisations accused the state of using ‘modern slavery’ by employing hundreds of thousands of construction workers from south Asia in terrible conditions that have led to the deaths of dozens of Nepali workers already this year.
The executive committee of football’s world governing body, FIFA, will meet in Zurich on Thursday and Friday to discuss the allegations.
It is also understood that a vote on whether the 2022 event should be moved, in principle, from summer to winter was planned. But that vote may not go ahead as increasing numbers of ExCo’s 27 members feel a detailed impact assessment is needed first.
The latest ExCo member to add his opposition to a vote is Northern Ireland’s Jim Boyce, a newly installed FIFA vice-president.
He agrees that Qatar cannot stage a summer World Cup. He also said there should be no vote on a winter switch before a detailed assessment.
HH
oeness to stand trial for tax evasion
Stephan Uersfeld, Germany Correspondent November 4, 2013
Bayern Munich president Uli Hoeness will go before a Munich district court in March 2014 over charges of tax evasion, the Higher Regional Court confirmed on Monday.
• Schaaf: Bayern sneak win • Guardiola wary of Dortmund
Hoeness filed a voluntary disclosure in January 2013 that showed he had not paid tax on money in a Swiss bank account. After a widespread and public discussion over the issue of taxation in Germany and whether or not Hoeness’ position at Bayern remained tenable, prosecutors charged the 61-year-old with tax evasion in late July 2013.
After reviewing the response of Hoeness’ legal team, the Higher Regional Court in Munich announced it will press charges.
The trial will begin on March 10 next year, with the court expecting it to last four days.
“In a resolution from Oct. 31, the fifth criminal chamber of Munich’s district court has allowed all charges from July 30, 2013, as they stand,” a press release read.
Hoeness’ defence had argued that the voluntary disclosure in January could lead to impunity, although it was incomplete. Under German law, filing a voluntary disclosure usually allows the alleged offender to avoid punishment. However, if it is not filed correctly or is incomplete, prosecutors are able to press charges.
“I am very surprised that our voluntary disclosure has been declared non-effective by the authorities,” Hoeness is quoted as saying by SportBild.
In another press release, Bayern announced that Hoeness is to remain chairman of the supervisory board despite the opening of a full trial.
Backed by a legal opinion, the press release
HH
Very pleased that SPFL launching investigation of racial abuse of Jordan Topping. Will they now do the same regarding the widespread abuse which was aimed at Aidan McGeady and James McCarthy?
At the occasion of the 12th ECA General Assembly, which kicked off today in Barcelona, Celtic FC CEO Peter Lawwell was elected to join the ECA Executive Board. His election follows the resignation of Zoran Mamic from Dinamo Zagreb.
Peter Lawwell has been actively involved in the association for many years as member of the ECA Institutional Relations Working Group.
He was elected to join the ECA Executive Board for the remaining period of the running membership cycle, which lasts until the end of the 2014/15 season.
Commenting on his election, Peter Lawwell said:
“It is a privilege to be part of such a great Board and of such a great organisation. There are huge challenges ahead for European football, but we are ready to take these challenges and find solutions.”
Was browsing the net for the zombies accounts which have not been filed and came across these companies can anybody tell if they are related or have any significance ?
http://www.companiesintheuk.co.uk/ltd/rfc-2012-plc
http://www.companiesintheuk.co.uk/ltd/the-rangers-fc-group
I have just watched the BBC highlights of Saturday’s Ross County v Partick Thistle game. The incident is at the beginning of the clip.County defender Scott Boyd pulls back Thistle forward Lyle Taylor just outside the box.
Very similar scenario to that which saw Virgil red carded at Pittodrie.
The other similarity is that it is the same referee, Craig Thompson.
Only a yellow this time though.
He was out to do us last week, despite (twice) noting (by pointing to his watch) that Aberdeen players were wasting time he only manged to add TWO minutes at the end of the game.
I hope the panel view Saturday’s incident before deciding Virgil’s fate.
‘England, you’re a monster.’
Doesn’t look good. Racist? We know it isn’t but neutrals might not know that. Perception matters more these days.
Such sentiments (England…) compromise us when we rightfully condemn racism towards the Irish.
Pogmathonyahun aka Laird of the Smiles
I just signed the petition “Patrick Kennedy: Paddy Power please remove your offensive betting on the outcome of the Oscar Pistorius trial and donate any profits so far to a women’s charity fighting violence against women.” on Change.org.
It’s important. Will you sign it too? Here’s the link:
http://www.change.org/petitions/patrick-kennedy-paddy-power-please-remove-your-offensive-betting-on-the-outcome-of-the-oscar-pistorius-trial-and-donate-any-profits-so-far-to-a-women-s-charity-fighting-violence-against-women?recruiter=31355998&utm_campaign=signature_receipt&utm_medium=email&utm_source=share_petition
Thanks!
Awerabest PAPA JOHN
PS Hope this works if not maybe someone can help.
Is this the price we extracted for Charles Greens continued participation in the ECA. Interesting that Germany has went all quiet on FFP. Bayern Munich must be winning in Europe again. Brian Quinn and Peter Lawwell on different sides of the divide or so they would like you to believe.
HH
Hi
Only cot bits of SSB tonight but I did sense panic in a certain persons voice each time I went on.
Emdae else get it?
Finally got my finger out, and settled on this team (4-4-2 diamond Formation)
Forster
Lustig
Balde
Van Dijk
Izaguirre
Nakamura
Lennon
Petrov
Commons
Hooper
Hartson
Man…Strachan
HH
jude2005 is Neil Lennon \o/
As I call it, The Muppet Show, just can’t get enough,Bhoy are they ah Hurten.
Awerabest PJ
evening all. So was SSB worth hearing today then? I’m just about to pour a glass of wine, open a jar of olives and look for a Clyde stream
call me gerry
21:38 on 3 March, 2014
Pretty good, but you missed Boruc for Forster and Wanyama for Lennon ;-)
2 Rolexes??
One I can understand, but 2……………………
Gilding the lilly shirley……….
………….what’s next?
GotTheTimeCock? CSC
Pretty sure thommo’s old firm winner came in the first game of the following season coz I remember Big Eck figured that Celtic were overpowering them so filled his team with every 6 foot hammer thrower who would take an ebt. Suttons goal came in the king of kings last season.
Matters not , both goals were at my end of the ground and both were daggers thru the heart of ra peepil.
Tom molach
21:44
Wanyama is the apprentice to Lennon the master ;-)
Forster got the nod for better clean sheet ratio (and less likely to make silly error)
IMO, of course. :-)
In truth many players have good cases for inclusion – all down to personal choice.
67 Heaven I worked with the Gas Board down in old dalmarnock rd a lot of years, there was this wee guy I wont mention his name,but came from Castlemilk ,he was one of the shrewdest men I have known. mind this was the early sixties, this wee guy never bought the usual papers, record etc, no he always had the Financial Times under his arms,he was always going to the shops, don’t think he ever done a days work either. and low and behold he was promoted to an inspector.Monday morning wee man starting his new position , comes through the gates driving a spanking new Volvo.so the motto of this story is there were a few shrewed men that came out of Castlemilk.his nickname was The Electric Hare.
The latest report on the UTT is uphttp://www.tsfm.net/utt-thread/comment-page-1/#comment-13363
why aren’t the press there? Why aren’t they interested?
Jimtim.
Sorry for any inconvenience regarding the tickets, I don’t wish to post out individual tickets. but I will be in town on the day and if you wish to get your ticket I’ll be in a bar somewhere, venue still to be decided, or I shall be at the Kerrydale suite at 18.30pm standing at the entrance to give everyone their ticket. Not my fault, blame the organizers.
Like you Jimtim, I’m looking forward to the night.
call me Gerry
21:38 on
3 March, 2014
Can you email your dream team to us at doccqten@gmail.com?
HH
CRC
Guy on SSB was a looser when the old sectarian club bellied up and he lost a 4 figure sum of money.
Numpty still supplies new sectarian club and is extremely worried he is going to loss out again because fans are not buying S T.
Pssst numpty. Fatsalary gets a 6 figure sum plus bonus’s every year. I nearly just nearly felt sorry for this clown.