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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Just read that my bank branch in Corstorphine was robbed of thousands at 9:30 this morning by a guy who seemingly arrived and left in a taxi.
Really concerned that it may have been my EBT (Embra Bloody Taxis) account that he targetted – I know they are expensive but to stop and rob a bank en route ??
Who will Doug and Dinsdale visit, when their loan doesn’t get paid? Torch their own yard perchance?
JustathoughtCSC.
CaltonTongues#TeamOscar
18:13 on 3 March, 2014
That is superb :))))
Peter Lawwell joins European Club Association Executive Board
By: Newsroom Staff on 03 Mar, 2014 18:11
CELTIC Football Club is delighted to announce that Chief Executive Peter Lawwell has been elected to serve on the main Executive Board of the European Club Association.
Peter 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. It is the authoritative, independent voice of European club football, the lifeblood of the European game.
ECA exists to protect and promote European club football. Its aim is to create a new, more democratic governance model that truly reflects the key role of the clubs.
ECA will act to strengthen each of the clubs for the benefit of all and to ensure that club football is recognised by decision-makers as the most direct link to the fans and their communities. The ECA currently represents 214 clubs from 53 nations.
Peter Lawwell said: “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.”
hen1rik
I watched that too…….
They could have went for several more recent examples of sectarian bile:
http://angelahaggerty.com/espn-to-alert-police-after-on-air-apology-over-the-rangers-fans-racist-and-sectarian-chanting-during-live-broadcast/
http://www.dailymail.co.uk/sport/football/article-2318459/Charles-Green-hit-2-500-fine-alleged-racist-slur.html
https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CCwQFjAA&url=http%3A%2F%2Fwww.telegraph.co.uk%2Fsport%2Ffootball%2Fteams%2Frangers%2F6395812%2FMaurice-Edu-accuses-Rangers-fans-of-racial-abuse.html&ei=CMkUU-HfEued7Qb-qoDACw&usg=AFQjCNFGaMiY5BPA6UxoO0B-u3sJ1drM9Q&bvm=bv.61965928,d.ZGU
But none would satisfy their viewers.
Tony Donnelly67
Thanks fur the Welcome Reply, Tone
Ah read yer Storyline aboot the Nine Hostages.
Wheredya get all this stuff?
Ah find it Grossly.. well.. Engrossin’!
Ah like Old tales .
Lotsa Writing Material in ’em… They hiv stories that are jist waiting tae Be Told.
Ah am convinced that Ye must be a True Irishman.
No worries ,there.
Och.. The Irish ur Great Folk , AH hiv nae trouble in Likenin Them, Aloater..
but..
As Ah pointed oot..
Ah find You Are the Exception that Disproves the Rule
That..
The Irish, Jist canny Stomach.. The Rich n the Powerful.
Kojo
Still,Laughin
Stein
Another orange one will make all their troubles go away >}
HH
@MinogueTom: Has there ever been a word said about anti-Irish racism which was loud & clear when Oldco Rangers played us? Still prevalent but no MSM fuss
embramike supporting wee Oscar and Res 12
18:22 on 3 March, 2014
Peter Lawwell joins European Club Association Executive Board
By: Newsroom Staff on 03 Mar, 2014 18:11
CELTIC Football Club is delighted to announce that Chief Executive Peter Lawwell has been elected to serve on the main Executive Board of the European Club Association.
Peter 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.
================================
FollowFollow just folded in upon itself, producing an anti-matter field that will expand to form a new black hole.
I assume there will be absolute outrage expressed by the zombies
CELTIC Football Club is delighted to announce
that Chief Executive Peter Lawwell has been
elected to serve on the main Executive Board
of the European Club Association.
Peter 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. It is the authoritative,
independent voice of European club football,
the lifeblood of the European game.
ECA exists to protect and promote European
club football. Its aim is to create a new, more
democratic governance model that truly
reflects the key role of the clubs.
ECA will act to strengthen each of the clubs
for the benefit of all and to ensure that club
football is recognised by decision-makers as
the most direct link to the fans and their
communities. The ECA currently represents
214 clubs from 53 nations.
Peter Lawwell said: “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.”
embramike supporting wee Oscar and Res 12
18:22 on 3 March, 2014
I await the hun implosion on twitter :))
Peter can you find out who reported to ASA please :))thanks in advance.
Aye, the ludges will going into raffle mode, brilliant.
Off topic I know but do any of my friends here know or have had confirmed, what it was Fat Sally said to Neil on that infamous night which has cost us so much. I’d love to know or has NFL ever reported what was said. The sneaky way Fatso knew the camera was behind him and looking at Neil kinda tells it all and exposes the sneaky wee crap bag for what he is.
KINGLuBO
Tony Watt not getting picked for U21 team after scoring 7 goals in 8 games is nothing to do with him wearing an Eire top I assume…
embramike,
That’ll do down like a lead balloon with the huns, especially this part…..
“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.”
Cheers for posting, I might suck a few huns into a debate with it tomorrow :-)
The Celtic Kids..well.. Plus.. Kayal, Boeriggeter
Smash the Ross County Youngsters..
Five tae Nil.
Ah see that..
Young Paul McMullan , goat a game,the Day..
Ah wondered whit had happened tae Him..
He has bin no Getting The Games, recently.
He is ..
In Ma Opinion..
Wee Jamesie Mark 11,
Mebbe,he wull turn oota be bettah than Wee James.
Ah like him.. Aloater.
Kojo
Still,Laughin
G
Gordon Dalziel: “Dave King is the only man to revirtualize Rangers.
“The fans are all backing him to be successfully successful.”
This may have been poster already, apologies if so.
http://www.therangersstandard.co.uk/index.php/articles/current-affairs/314-laxey-loan-alternatives-ignored
Why were those loan conditions accepted?
Sandman @ 18:41
FollowFollow just folded in upon itself, producing an anti-matter field that will expand to form a new black hole.
Explosion of quirks, spewons, bozos and morons picked up by bampot detectors!
BBC tea time news shows Dave King arriving in Scotland again, the same pictures they show every time he’s going to save Sevco.
Cheeky Haggerty@AngelaHaggerty·5 mins
Good news that Lawwell’s in Europe now. Should help Celtic cover up that whole state aid land scandal #UnseenHand
Hahahahahahahahahahahahahahahahahahahahahahaha
How does PL getting on the ECA help Celtic?,,,genuine question
from a thicko.
KingLubo
Hiya,Palomine..
Great tae greet Ye..
Great Subject.. ye hiv brought up..
Yep.. Ah often hiv wondered jis whit McCoist did Murmur in Neil’s Ear,oan that . Terrible Night.
Whitevah it wiz.. It Sure Galvinised ,Neil.. intae.. nearly…Pulverizing,his Tormentor.
Ah sure wid like tae Know this McCoist Said…
Strange that Neil has Never Divulged whit it wiz..
that is..In .Public.
Dis Anybuddy oot there.. Know whit McCoist Said..???
Nice Chattin ,Palomine
Kojo
Who Likes ye.. aloater
eddieinkirkmichael
16:27 on
3 March, 2014
ScotPatsFan
15:59 on
This is what he is on about.
http://footballtaxhavens.wordpress.com/2012/12/19/celtic-fcs-9-million-hidden-debt-paying-6-in-perpetuity/
================================================================
No news here….this stuff is in the accounts every year.
Ordinary Shares pay nothing……..your relying on their value to increase based on supply and demand which is linked to financial performance of the company presumably.
Preference Shares pay an agreed dividend annually……..you buy the shares from CFC who agree to pay you a % dividend.
They could offer these shares for fixed periods and then convert to Ordinary or remain Preference in perpetuity…….its what is agreed in writing that counts.
Keep the shares…keep the deal.
Sell the shares…..lose the deal
Essentially you invest in business and you want a return on your money.
Move along now…..nothing to see here :)
jj
probs afraid of a precedent
Sandman – just spat my Rioja over the keyboard, brilliant.
•-:¦:-•** -:¦:- sparkleghirl :¦:-.•**• -:¦:-•
So that the spivs and their pals can tighten their grip on the carcass:))) its what asset strippers do :))
http://www.philmacgiollabhain.ie/the-money-men-hedge-their-bets-at-sevco/#more-4400
I know it’s a long shot but anybody going to the partick th hamilton u-20 game at firhill tonight ?
CELTIC Football Club is delighted to announce
that Chief Executive Peter Lawwell has been
elected to serve on the main Executive Board
of the European Club Association.
Peter 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. It is the authoritative,
independent voice of European club football,
the lifeblood of the European game.
ECA exists to protect and promote European
club football. Its aim is to create a new, more
democratic governance model that truly
reflects the key role of the clubs.
ECA will act to strengthen each of the clubs
for the benefit of all and to ensure that club
football is recognised by decision-makers as
the most direct link to the fans and their
communities. The ECA currently represents
214 clubs from 53 nations.
Peter Lawwell said: “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.
I look forward to my first meeting in Rome”
———————————-
*waits for zombie implosion*
Kinglubo
i remember Hugh Keevins bragging there was three people who new what was said , Ally , Neil , and himself .
Gotta Go,joe
Seeya
Kojo
Still,Laughin
Evening, my boy informs me that the Scotland squad are using Murray Park, also ibrokes is being used for an U20 cup final…
Are these all SFA help them out decisions, if true.
Ayrshire is Green and White
good evening cqn
Just in house listened to ssb in car,Alick from Airdrie,bitter bitter man,moaned about PL,then it was Leigh Griffiths late inclusion in the Scotland Squad,Then it was about David Moyes at Man Utd,and Celtic fans want them back,…………………………
bournesouprecipe
18:50 on 3 March, 2014
BBC tea time news shows Dave King arriving in Scotland again, the same pictures they show every time he’s going to save Sevco.
———————————————–
Saw that, thought he had arrived, appears he hasn’t.
HH
Kinglubo
on that subject , i’m a bit dissapointed , Neil said if we won the league that year he would tell us …..still waitin
“When the terms of the Laxey loan were announced I was horrified.”
Fat guy with cap who wants the big hoose to stay open
bournesouprecipe 18:50 on 3 March, 2014
“BBC tea time news shows Dave King arriving in Scotland again, the same pictures they show every time he’s going to save Sevco.”
He’s been on more failed rescue missions than the British Lifeboat Association
Is that the footage where the Lying King is wearing his club in crises trousers?
I am amazed that Scotland does not seem to recognise anti-Irish racism, which still seems to be commonplace in football grounds, if not elsewhere. According to the STV, the last person found guilty of racism was someone who made gestures to Diouf. To say I’m gobsmacked is putting it very mildly.