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‘Asian money for Ibrox’ and Chinese whispers

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The Sun today presented the latest instalment of the ‘money from Asia heading to Ibrox’ story, with a figure of £20m quoted.  This has been kicking around all season and my information is there is that potential investors with cash took a look as far back as October.

The problems at Newco are clear, documented in their accounts, and by Dave King at their AGM.  The club’s annual losses run to eight figures, the liabilities of various litigation defeats could easily top £10m, it is heavily dependent on shareholder loans and the principle shareholder, Dave King, will not fund beyond this season.

What was missing from The Sun piece was specifics.  If your information amounts to “a mystery Asian investor and a Hong Kong-based backer”, you don’t have enough to substantiate the story.  Forgive the pun, but this sounds like Chinese whispers.  “£20m”, “Hong Kong”, “Asian” is all a bit generic.  If they had even given us something like, ‘A fan, originally from Paisley, who made his money in the Far East’ I would have thought their information was possibly on a par with mine.

£20m could well be the figure to plug the immediate shortfall.  I expect the globe has been searched for a funder to take advantage of this unique opportunity.  That we are four months on from the AGM and still working on hearsay is an indication of just how unique an investment this is.

Due diligence will be a problem, as we discussed last month, Newco have run out of road when it comes to Uefa Financial Fair Play regulations.  New money can pay for old debts, or failed legal cases, but it cannot fund football operations.  And who wants to pay for King’s hubris?

King looks increasingly like a motivated seller, maybe his old pal, David Murray, can give him some advice on how to find worthy buyer for an iconic football club?  If you know of anyone, drop the club a line using commercial@…..

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269 Comments

  1. Celtic should be going to IPox 442 all day long

     

     

    But due to failure in transfer market

     

    We have neither a left back or right back we can rely on

     

    If A fit KT was still at club and we had a right back , then it would be 442

     

     

    But we will go to IPox with the 3 4 3

     

     

    Eddie and griffs up front with Forrest supporting

     

     

    I would play 3 5 2 with frimpong on wide right as he can support defence and midfield and will battle. Something Forrest has never ever done at IPox :(

  2. Good morning CQN from a feckin SNOW ⛄️⛄️⛄️ covered Garngad

     

     

    Surely if the Football season is cancelled then you have to declare top of the leagues as champions. With 30 games out of 38 played it would be the most sensible thing to do. But I realise the corrupt SFA will not do sensible they do corruption.

     

    Get to Sunday and pump the Sevco Galacticos and see what happens from there.

     

     

    D. :)

  3. Good morning from a light sprinkling of snow covered Knightswood.

     

     

    Despite pandemic, my egg-chasing game of ruggers still (at this point) going ahead in Cardiff on Saturday.

     

     

    Will be using the age-old immune system booster of copious amounts of alcohol to ward of any pathogens.

     

     

    Wife hoping my return flight is cancelled and I get quarantined in Leek-land for 2 weeks. Little does she know I’ve purchased an extra pair of pants for such an eventuality!! 😁

  4. St stivs. Pray tell me how ?

     

     

    If we had a left back and right back never would we play 3 at back

     

     

    3 4 3 will be formation

  5. Back to Basics - Glass Half Full on

    Trump has banned travel from the Schengen group.

     

     

    UK not affected.

     

     

    Presumably Slovenia, Bulgaria and Romania not impacted either.

     

     

    He’s started his post-Brexit trade deal positioning early.

     

     

    Nice man.

  6. prestonpans bhoys on

    Stevie G asked about Huns still travelling to Germany came out with this irresponsible response

     

     

    “If they decide they’ve already paid for flights and they want to go support the team in any shape or form, I’ll go with that.”

  7. ST

     

     

    So any team which plays three at the back does so because they don`t have full backs?

     

    Hmm……

  8. An Tearmann on 12th March 2020 1:16 am

     

    All travel to US from europe excluding uk has banned from Friday.

     

     

     

    ####

     

     

     

    So anyone in the affected countries who wants to travel to the US will travel via the UK.

     

     

    Thus increasing the risk of further spread to the UK.

  9. What is the Stars on

    Just cancel the football.

     

    The height or irresponsibility to keep playing games..

  10. GG – we were due out for Easter – but we’re just not going to travel now. We made the decision last night, we’ll just right off the costs.

     

     

    Staycation CSC

  11. prestonpans bhoys on

    now under the current medical circumstances I would not be surprised if the SFA approved a launch of ticket sales for the semi-finals …………even though you may be barred from attending…………

  12. fourstonecoppi on

    We’re due to go to Japan at the beginning of April to visit no.1 daughter, so far so good. No advice yet not to go, fingers crossed.

  13. Trump’s handling of corona virus illustrates what happens when true incompetence gets its hands on power.

     

     

    His travel ban is an entirely political move that will make no impact on the spread of the virus – according to the experts I listened to this morning.

     

     

    What he has done though is add to the stock market plunge.

  14. Just got a great video sent to me on FB messenger. It features a Torcuil Crichton on last night’s Newsnight being asked about today’s Cobra meeting. He discusses measures such as social distancing and playing football behind closed doors. He finishes by saying “Seems there are no lengths people will go to to stop Celtic winning the league this year.”

     

    Unfortunately it will not download so can’t post it here. 😂😂

  15. Bankiebhoy

     

    I’m booked to go to Spain in 2 weeks – won’t be traveling – by then there may be travel ban – so get my money refunded. If not I’ll write it off.

  16. Gene

     

     

    I am booked to go to Spain 27/04/2020 and am having the same thoughts. Hopefully a travel ban will be in place by then and i get a refund lol

  17. COBRA Meeting makes it sound edgy and exciting/powerful.

     

     

    COBRA just means Cabinet Office Board Room A.

     

     

    Less exciting eh?

  18. My ideal solution to Scottish Football problems due to Corona virus, would be to postpone Semi Finals & Final of Cup till net season.

     

    Run off remaining League games in behind closed doors matches as quickly as possible, Saturdays, week days make little difference when games are not open to Public.

     

    So playing 2 games a week, get it done & dusted asap and give everyone an early holiday.

  19. CorkCelt,

     

     

    I’d stop the game now until further notice. The loss of one life ain’t worth kicking a bag of air around a patch of grass. Let’s all play our part. The SFA are keeping the doors open to help their brethren out with 2 big matches this week. Irresponsible.

     

     

    Chances are players getting the virus is pretty much a slam dunk so I suspect the BCD approach will implode anyway.

  20. On Sundayevening/Monday morning it will be announced that football in this country will continue behind closed doors, and we know why, as they have 2 sell outs with associated corporate packages.

  21. This flu like virus in Scotland now at the frighteningly high figure of aprox 40 confirmed ?

     

    Country going into lock down??

  22. macjay1 for Neil Lennon on

    BACK TO BASICS – GLASS HALF FULL on 12TH MARCH 2020 7:41 AM

     

    Trump has banned travel from the Schengen group.

     

     

    ========================================================

     

     

    From mainland Europe.

     

    That would include Slovenia, Bulgaria and Romania .

  23. ART OF WAR on 12TH MARCH 2020 9:58 AM

     

     

    COBRA Meeting makes it sound edgy and exciting/powerful.

     

     

    COBRA just means Cabinet Office Board Room A.

     

     

    Less exciting eh?

     

    ——————————————-

     

    ART OF WAR

     

    it might just be a meeting room…..

     

    but I imagine that access to the room is via a secret panel in a wall, a retina scanner in the lift that takes the cabinet members 30 floors down.

     

    At least that’s what they told Boris whilst the grown ups are in a meeting room marked ‘A’

     

     

    The Onlooker

  24. bamboo on 12th March 2020 10:14 am

     

    This flu like virus in Scotland now at the frighteningly high figure of aprox 40 confirmed ?

     

     

    Country going into lock down??

     

     

    ######

     

     

    Have a look at this. It might help you to understand why there’s so much concern.

     

     

    https://www.youtube.com/watch?v=Kas0tIxDvrg

  25. corkcelt on 12th March 2020 10:07 am

     

     

    Agreed that league games should be brought forward to get the league over with as soon as possible, hopefully before players start testing positive, because once that happens, it will have to stop immediately. I suspect it’s already too late for all fixtures to be completed.

  26. Seriously why are the SFA / Spfl dragging their heels on Sunday’s match, surely the earlier they declare it behind closed doors the better as fans will be begin travelling to Scotland from today

     

     

    Unbelievable

  27. morning from a sunny Marbella 69 today can’T believe it, If i’d known I would have lived this long I’d have taken better care of myself H H Hebcelt