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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easier to read version;-)
http://kerrydalestreet.co.uk/single/?p=12818044&t=9070302
Gold Coast Tom.
Remember it so vividly because of their tattie ‘bantor and the fact that Frank De Boer went sprawling trying to nudge big Sutton out of it. It was definitely May as well because I had my final exams at uni and, arguably, should have been studying rather than going to a game .
The whitewash . Big Eck’s hoodoo over MON fair collapsed at a rate of noughts eh.
Night all. Night wee Oscar my hero. God bless x
Auldheid
23:09 on
3 March, 2014
Kojo
22:56 on
3 March, 2014
I find labels restrict independence. On some issues I understand why certain policies make sense, on other I think they may be or are damaging.
Depends on the policy and its effect and whether I think that effect helps or hinders Celtic.
I’m pro Celtic and see no separation, in fact I think that pro and against thinking is harmful to Celtic as a whole.
———————————————————————————————————
That`s exactly the way I see it.
I find the anti-board sentiment bewildering.
eddie
Whers the unsavoury afters bit?
SFA board. ECA exec. Replace the discredited SFA channels to UEFA get more leverage. The world view is looking like if you canny beat them join them while coining it. Silence=Secret.
HH
Awe naw
How are you this very placid evening in ML10. Trying to work out your last post, but will probably agree with you, as you are one of the guys I appreciate on here. You ok kiddo? HH
Weefra HH supporting Wee Oscar.
jude2005 is Neil Lennon \o/
23:25 on
You on about the FOI requesst reply?
martim1980
23:14 on 3 March, 2014
Haha, that mob are are losing the plot big time :-) HH
Aw Naw
Genuinely there was a lack of capacity to make things happen. One of my last job titles was Capacity Builder so I know lack of capacity when I see it.
As an example I have been talking to Celtic over 3 years about development of a Membership Scheme as a way of improving communications. The folk I was dealing with were on the commercial side and apart from it not being their main job but a side project, improving communications with the support was not their prime objective, (although they recognised they would get some benefit from it.)
Then the Support Liaison Officer (SLO) was appointed and I get talking to him about improving how the club communicate. He talks to others and within 9 months the Supporters Forum emerged with an action list for follow up to be produced for report back at next meeting. It would have been quicker but lots of time spent fire fighting.
Thus a lack of capacity has been filled with a visible result. Its not perfect, if I were running the show I would be setting up a Help Desk and filtering calls according to the Serenity Communication prayer below and explain to supporters why some issues took longer or how to work to resolving the ones where cooperation was needed. But its a start.
At the supporters forum there were about 12 managers from the different departments present and issues will be passed to each to deal as relevant. That means less of a bottleneck because before the SLO, PL was doing that work and everything else and some stuff just gets dropped.
I know none of this fits into “the Board are this or that” narrative but getting processes and structures right will change the narrative.
There will still be mistakes, human beings, and all the suits at the top table looked human to me, make mistakes, but those should not be allowed to dictate the narrative but be a reason to change it.
Nigh night all
Awe naw, speak tomorrow. :-))
Weefra HH supporting Wee Oscar.
Auldheid/macjay
I’m pro Celtic and that’s why recently I’ve been critical of some of the things being done in the name of our club.
I’m not doing it out of spite, fun, malice or self interest, I just happen to believe that Celtic is more than a balance sheet.
Weefrathetim,
I am great. Finally back home in Frankfurt. Carnival here today. Took a few kids to the parade today and it was biitterly cold like it was normally. Never touched a drop but the nippers had me pure puggled by late afternoon. Nodding off here
HH
Was not bitterly …above should read
HH
I have just had this really crazy thought, maybe Peter Lawwell was elected onto the ECA board because he is one of the few CEOs in European football able to show that he can run a club in a backwater league profitably without a sugardaddy and/or a TV deal that outstrips the GDP of a small third world country.
It cannot be for his conspiratorial abilities as his secret plan to fast track the Norwegian blues straight back into the SPL didn’t work. Nor did his previous attempts to “throw” the league to allow oldco access to CL revenue in order to keep the O** F*** alive work either. Not a very good evil genius is Peter from what I can see.
HT
Gaun yersell kiddo. :-)))
Weefra HH supporting Wee Oscar.
hun skelper
You’re not wrong ;-)
HH
owen
Here here or hail hail ;-)
Awe naw
Good on you. Hope you are totally shattered after giving the young yins a great day. :-)) ach, ye know what I mean. Hehe
Weefra HH supporting Wee Oscar.
Awe_Naw_No_Annoni_Oan_Anaw_Noo
23:25 on
3 March, 2014
SFA board. ECA exec. Replace the discredited SFA channels to UEFA get more leverage. The world view is looking like if you canny beat them join them while coining it. Silence=Secret.
====================
Aye, better inside the tent pissin out. Ties in with his statement to Jim Spence on Saturday. That is where PL should be operating now he has folk to watch the hoose when he is away.
http://www.bbc.co.uk/sport/0/football/26406994
(anybody hear Alex from Airdire ask Clyde tonight why PL said he wanted Rangers back, which is how he said he read a report in the paper who twisted it to meet the bring back the huns agenda. )
The panel did not know so that narrative went “out there” although they did read out a Tweet from some auldheid correcting them. Why could they not be briefed themselves and inform instead of misinform?
Its like throwing stranded dying sea shell life back into the sea ;)
Auldheid
I sincerely hope that you don’t feel that I’m deliberately having a go at you personally, I can assure you that would never be my intention.
However, the consensus amongst supporters that I’ve spoken to concerning JPT’s initiative is that it amounted to a whitewash by Celtic.
I know that’s only a microcosm of the Celtic support but the fact is that if meaningful dialogue is to take place then the board must be honest and so far I don’t think that’s always been the case.
1943 . The Red Telephone ……I don’t think they carried out the investigation into Longmuirs bonus payment…..he probably threatened them he would spill the beans…..Ogilvie the same along with Bryson …..Scottish government should have interveined…..after all they fund the sfpl with tax payers money….mibee wee alex knew nothing about it.
WeeFra
Howdy young fella :-)
Cot time now. Night all. Hh
Weefra HH supporting Wee Oscar.
martim1980
23:14 on 3 March, 2014,
They call us gypsies…ach well, hope it catches on, whit a field day we will have;-)
Hamiltontim is praying for Oscar
23:38 on
3 March, 2014
Auldheid/macjay
I’m pro Celtic and that’s why recently I’ve been critical of some of the things being done in the name of our club.
I’m not doing it out of spite, fun, malice or self interest, I just happen to believe that Celtic is more than a balance sheet.
====================
Of course it is and that balance sheet narrative is one that needs looking at.
Why do some supporters see things like that?
Do they have good reason to, does their reason stand to reason?
Are they open to reason?
Do they trust is?
Do we trust them?
I’d start with a meeting on that subject. Maybe a podcast with the SLO. I believe a general one is being planned with Celtic Underground.
I’ll be listening out for it.
HT
Just caught me on time. We are all absolutely fine on the ole ferm. Hens are laying like they are going out of fashion. And the ole ducks are laying to form. According to HelenD you make a mean omelette. Ha, you have no excuse once you visit the ole weefras humble abode. :-)))
Weefra HH supporting Wee Oscar.
Auldheid,
Sounds like a non bonus busting environment we are running.
Need I say more ?
I have told you before I never have doubted you. I am just far more cynical than you and have every right to be as far,as I can see it. I echo HTs comments above. I value proper governance in sport over making money. Our PLC dont. Ergo these failed to be established processes are too expensive and not considered important enough to pursue. The continued glib rebuttals to our concerns. All points in the same direction.
HH
topkat
Cheers, thought I had missed it somewhere. Usual fudge will appear in about a year no doubt.
Bed now. HT speak tomorrow. :-))
Weefra HH supporting Wee Oscar.
Aw Naw
I think you know all about Help Desks. I was thinking this could be used to categorise and direct calls to whoever was responsible for dealing with them.
A Guide to Serene Communication (based on The Serenity Prayer)
God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and the wisdom to know the difference.
Let us distinguish between the things that are in Celtic’s sole power to fix
From
Those that require co-operation with others outside the Celtic family to fix.
Let us distinguish between what cannot be fixed because of non cooperation by those outside the Celtic family
From
What requires campaigning to fix.
Let us distinguish between what Celtic are able to campaign about
From
What they are unwilling or unable to get involved in
And
Engage in dialogue on as to why
And either
Agree to disagree
Or
Reach agreement on who should be party to
And
Who should take the lead in any campaign for change.
AND
Give us the wisdom and understanding to know the difference.
WeeFra
Sorry I was off making Eggs Benedict speak soon :-)
sipsini
23:49 on
3 March, 2014
martim1980
23:14 on 3 March, 2014,
They call us gypsies…ach well, hope it catches on, whit a field day we will have;-)
http://www.ranker.com/list/most-unconventional-summer-camps/chelsay790
Auldheid,
You would think that two billionaires mad Celtic fans could have sussed that one already ?
HH
HT
:-))) night. Love to all.
Weefra HH supporting Wee Oscar.
Auldheid
at 23.09
Whit ye ur sayin ..
“Sometimes Ah Am,but.. Sometimes. Ah..Ain’t.( Pro or Anti Celtic Board)
in Ither woids..
You are Firmly in the
“It Awe DEPENDS”.. Camp?
Right?
Well..
In finding that oot.. tae Me.. Goes A loang way tae Explain Ma
Doggone Perplexity,in trying tae Figger oot… if
You ur.. Pro or Anti .. Celtic Board.
Ah Am..on the ither Haun
Pro Celtic Board… Right Straight Doon the Line..
Nae.. Vacillations.. Nae.. Equivocations.. Nae..well
Fudge nor Mudge…
Na ..Ah Swallow the Celtic Board Line..
Hook , Line n Sinker.. All the way, Baby… All the Way!
n Ah find This an easy Attitude tae Adopt..
fur.. when Ah look at
the Fine Mess ..that the Sevco Board.. goat thur Team….INTA..
n
Ah look wit
The Celtic Board.. Goat thur Team,,, OUTA…!
Then, Ma Complete TRUST in the Celtic Board
wiz the Easiest of Easy Decisions tae Reach..
Nice Chattin..pally..
Kojo
Still,Laughin’
“The most unconventional summer camps don’t waste time with silly activities like arts & crafts and canoeing. These unique camps teach business classes, zombie slaying and PHP, among many other out of the ordinary activities”
Zombie slaying! classic sevconian on sevconian!
Auldheid
I think you’ve hit the nail on the head; the lack of trust that evidently exists on both sides must be addressed if progress is to be made.
My own belief is that if Celtic have a genuine desire to ensure that young supporters continue to follow in the footsteps of their ancestors (and I believe they do) then they must be more vocal in highlighting the continued criminalisation of Celtic supporters through the ABaF act.