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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parkheadcumsalford
Aye. We’re still Tims. ;-)
HH
Morning, another day off work, what shall I do, the blonde one is off work with the lurgy, I’m doing the Florence bit the noo.
So that will be he haw for me other than, can you get me….
Could be worse…
Ayrshire is Green and White
MICKTT
So you ignored my advice yesterday about the sleeping tablets and effing off to the pub?
You’ve made a rod for yer own back,bud.
bobby murdoch’s curled-up winklepickers ………fc not plc
08:20 on 4 March, 2014
MICKTT
So you ignored my advice yesterday about the sleeping tablets and effing off to the pub?You’ve made a rod for yer own back,bud.
———————————————–
That would be unethical, and with what is happening in the Ukraine just now, a blight on the memory of Florence!
I’m just going to have to grin and bare it…
HH
And there endith the lesson, but unfortunately there are many in here who won’t get it, take this to your Celtic trust meeting, more boos?
Since McCann sold up at Celtic in 1999, his prudent and hard-nosed approach to running the club has been maintained under current major shareholder Dermot Desmond and chief executive Peter Lawwell.
“Everybody wants to win all the time but not everybody can,” said McCann. “Football clubs should be ambitious but have to manage risk. Many have not done this well. And there is great temptation to do expensive, short-term deals. I worry about the effect of current owners who ‘do not care what it costs’, such as at Chelsea and Manchester City, on the overall game.”
Tony D….
Aye right….
I’m sure Abramovich and the Arabs at Manchester will be interested in what wee Fergus thinks.
He hasn’t been involved in fitba this century.
Rightly or wrongly…..Different landscape now if you want to be perceived as a big club.
TONY DONNELLY
One thing the board overlook in their haste to sell at the first hint of a decent offer is the loss of income from names on shirts.
Why put yer favourite player’s name on the back if he’s offski first chance?
They need to rethink their strategy on this. More long-term planning.
TonyD…
Meant to add…
They don’t care what it costs as it doesn’t really matter to them
Platini’s FFP rules are a sham and unworkable.
Even his own country’s clubs are ripping the pash out of him on this now.
ryecatcher
07:29 on 4 March, 2014
—
Brilliant :-)
Big Peter eh….well respected in amongst the European suits.
But, ye canny buy a star player, can ye peter, ya big chancer.
You will be slurping champers with the big suits now Peter.
Ha Ha, Charade you are.
HH
I see there was a Q&A Session with Auldheid last night!
I don’t think the man ever sleeps!
SmashingMilkBottles … In the run-up to Lent, here’s one for you:
THE GOOD THIEF – by Tom Leonard
heh jimmy
yawright ih
stull wayiz urryi
ih
heh jimmy
ma right insane yirra pape
ma right insane yirwanny us jimmy
see it nyir eyes
wanny uz
heh
heh jimmy
lookslik wirgonny miss thi gemm
gonny miss thi GEMM jimmy
nearly three a cloke thinoo
dork init
good jobe theyve gote the lights
Morning all.
Today is Sashes to Ashes eve.
Can we expect more carnage tomorrow?
Alex Salmond probably being briefed as we speak, and preparing a statement.
HH!!
Can’t be arsed answering all of you, but as I predicted, you just don’t get it. And it’s the same ones, I could only wish that the football teams I pick on my sat. Coupon where as predictable as some posters in here, I would prob. Be able to buy a team of my own.
TALLYBHOY
That Alex Salmond statement in full….
“Aw,ffs!”
bobby murdoch’s curled-up winklepickers ………fc not plc
08:41 on 4 March, 2014
TONY DONNELLY
One thing the board overlook in their haste to sell at the first hint of a decent offer is the loss of income from names on shirts.Why put yer favourite player’s name on the back if he’s offski first chance?They need to rethink their strategy on this. More long-term planning.
————————————————
I tried to tell the oldest bhoy that, stoap getting names on the back of shirts, you’ve jinxed everyone they all left..
Big soady that he is….
HH
See wee Fergus telling aboot Gavin Masterton influence in trying to stiffen us ( Celticnewsnow)
First time I heard his name was at one of the nights in the Blantyre KSC and the Auld Hoalie Goalie mentioned him as a key culprit in what was taking place
As TD67 would say
GIRFUY Masterton, and your cabal of knuckle crunchers
Hail Hail
MICKTT
Gonny ask him to get one wi Lawwell on the back,just to annoy Tony?
Cowiebhoy
Original not auld… o))
King heads for Ibrox.
http://youtu.be/WzGtvnjtGtM
BMCUW
Morning buddy.
Will mail you later.
Off oot to pick up a cucumber.
For the Hendricks gin of course!
I have no plans to hold-up the local bookies!
HH!!
bobby murdoch’s curled-up winklepickers ………fc not plc
09:00 on 4 March, 2014
MICKTT
Gonny ask him to get one wi Lawwell on the back,just to annoy Tony?
________________________
Lol, nice one.
King ‘summoned’ to Ipox. LOL like he really just simply has no option but do exactly what the Sevco board want. ‘Summoned ‘Who writes this nonsense.
What it should read as is ” Sevco board issue a ‘gonna no do that’ plea to King.
hebcelt
22:51 on
3 March, 2014
hamiltontim you at a windup? Over 400 people going, 40 a table don,t think so. My ticket says table 12 seats 3&4. It,llbealrightonthenight CSC Hail Hail hebcelt
————————————————————————————
I’m on table 44…think it’s oot in the ole bus park :O(
Vp
Aye with the meter running
BT
The Original Bhoy, most certainly hit the target :-)
Hail Hail and good morning Bhud
Lol,.
https://www.facebook.com/michael.mcgill.587606/posts/1547967568760746:2
MAGNIFICENT 7
sun 27th april 2003 league
rangers 1-2 CELTIC
Ronald de boer alan Thompson-pen
john hartson
THE BEACH BALL GAME after just coming back from making final in Seville
sat 4th oct 2003 league
rangers 0-1 CELTIC
john hartson
sat 3rd jan 2004 league
CELTIC 3-0 rangers
stilian petrov
stanislav varga
alan Thompson
sun 7th march 2004 Scottish cup
CELTIC 1-0 rangers
henrik Larsson
sun 28th march 2004 league
rangers 1-2 CELTIC
steven Thompson henrik Larsson
alan Thompson
sat 8th may 2004 league
CELTIC 1-0 rangers
chris Sutton
sun 29th august 2004 league
CELTIC 1-0 rangers
alan Thompson
on wed 10th nov 2004 celtic were 5 mins from making it
a MAGNIFICENT 8 in league cup quarter final at ibrox
but alan Thompson gave ball away at Copeland road end and
dado prso equilised shota arveladze scored winner in extra time 101 mins
celtic had led through john hartson 66 min goal
final score rangers 2-1 celtic aet a great run had come too an end
hail hail
voguepunter
09:11 on 4 March, 2014
hebcelt
22:51 on
3 March, 2014
hamiltontim you at a windup? Over 400 people going, 40 a table don,t think so. My ticket says table 12 seats 3&4. It,llbealrightonthenight CSC Hail Hail hebcelt
————————————————————————————
I’m on table 44…think it’s oot in the ole bus park :O(
_________________
The norm. There is ten at a table.
kitalba
01:57 on
Unfortunately, I can’t dissagree on one word in that post.
voguepunter
I’m sure I’m on table 44 as well.
Need to check the tickets later. Looking forward to a great start to my birthday weekend at a top night!
LB
Gold Coast Tom
got toask …. what was that one other time?
Awe nawwww, no another moaner, lookin good Lisa ;)
https://www.facebook.com/michael.mcgill.587606/posts/1547967568760746:1
Just in afore ah go – off oot…..
________________________
kitalba
01:17 on 4 March, 2014
Auldheid:
Do you think it is right that a select few, who may or may not have been raised with Celtic in their marrow, should dictate bleaching policies to a support without consultation and transparency?
Knowledge, may, or may not, contribute in a Supporter’s decision to sacrifice to purchase a season book. Do you believe it is right for information to be with-held from a committed supporter who struggles like hell to raise the funds to purchase a season book only to discover that his heart and soul have been deceived and his roots dissolved by people who may or may not have been brought up making a fraction of the sacrifices in time, and money, and emotion, and relationships, that the common working class Celtic Supporter has to endure, sometimes in tears too.
Do you think the board at present, to a man, have found occasion to shed tears over the club; from a result perhaps, or maybe from a futility without voice that is heard, as experienced by lifelong Supporter whose tears spring from a foreboding fountain fed from a real, or perceived, systematic disenfranchisement.
Reading McCann’s statement above, is it only Shareholders and season-ticket holders and the affluent and the famous who are now allowed to be accepted as bona-fide Celtic Supporters.
Walk a mile in a poor and humble Celtic Supporter’s shoes Mr Board members. Live for just one day what they sacrifice to keep you your status. And then tell them they are not worthy of the truth.
_______________
If there was a Celtic with GOLDEN nuggets like yer ghoodself…
On the board
In the dug-out
On the pitch
…then ‘that’ Celtic would be an unstoppable force. imho
Kit – If you don’t mind ?
I’m gonnae print ‘that’ off and use it as my own serenity thingy.
Thank you forever – God Bless You.
Hail Hail – Off oot – goodbye…..
Ooooooops, lol.
https://www.facebook.com/paul.gillespie.315/posts/592686140825330
BMCUW-Was in Preston at the weekend,NY on Thursday.HH
!BADA BING!
Which of the two do you prefer,I wonder….
Bon voyage,mate. I was gonna call you a lucky sod but you’ve earned it.
Happy Bunnet Day