I hear there are rumours in the old media today that David Longmuir prepared a plan with Charles Green and Peter Lawwell before briefing Scottish Football League clubs this week. I suppose the rumours are half right. No one from Celtic was involved in this nonsense.
Special mention to Gavin Masterton, owner of 94% of Dunfermline shares, who last month told the BBC “The football club is debt-free. There is no bank debt. The debt is to myself and the other directors.”
This new kind of “debt-free”, talked about by Dunfermline and one other lower league club is more dangerous than it seems as just three weeks later Dunfermline admit they expect HMRC to apply for a winding up order.
Fans have raised around £250k, enough to pay HMRC in full, but they are asking Masterton to value his shares at a level they would reach if an administrator was appointed, which will happen if the fans don’t pay. Masterton’s recovery plan was to issue £500k of shares for around 25% of the club. Nice, for him.
Nine years ago Masterton and Dunfermline director John Yorkston were embroiled in the financial calamity which afflicted Livingston. This tale of woe is worth reading, as is the story about the downfall of Bank of Scotland by Iain Fraser, who writes, “The rot set at Bank of Scotland in when the likes of Gavin Masterton and Peter Cummings started handing millions of pounds to their pals, without doing much in the way of due diligence.
Fraser also speculates “Foolishly, Cummings and his predecessor Gavin Masterton handed [Sir David] Murray a total of £760m on a “no questions asked, handshake only” basis and, in the current environment … realised he hasn’t much chance of paying this back”, in an interesting article on the Bank and the liquidated football club.
Mr Masterton is clearly the only qualified candidate as the next president of the Scottish Football Association. After Mr Peat (former director of liquidated club Airdrieoneans) and incumbent Mr Ogilvie (former director of liquidated club Rangers) the bar has been set at an astonishing level.
“Utterly astonishing”, as our old friend used to say.
Be wary of people to say they are debt free when what they mean is they have no bank debt. Be very wary of bums who try to convince you that them being denied bank lending is a good thing.
If company credit rating equals zero, credibility rating equals (I’m away to find out if a whole number is required here).
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is it just me or is it very quiet on here today. Anybody would think its a school day.
Maybe we are all listening to Turnbull. I know I am. It’s an education on how a small club views things. He’s good to listen to.
That auld rocket and his colourful singing abilities needs boosted on the wrong end of comprehensive drubbing.
MTH.
Just dropped in to say…
I canny understand all this angst about
Vic leaving ?
How much we’ll get for Vic ?
etc….blah, blah, blah etc….
You see, the thing is – we’re p#sh even with Vic in the team. imo
Also – whether it’s £6mill or £16mill…it WON’T be reinvested in
the team. imo
This much trumpeted – model – that we have – how much money
has it brought to the club ? £6mill for Ki ? How much of that was
reinvested in the team ? Oh, and Ki was 1 of BTM’s pebbles on
the beach – so well done to the big fella for that.
You see…the model(LOL)…is in fact…the MAIN reason why…the
seats will soon awe be empty. imo
Get With The Program – CSC
KEV
Bloody hell,mate. You finally given up forecasting 20k crowds and gone for zero crowds now?
Trophybhoy
10:49 on 15 March, 2013
is it just me or is it very quiet on here today. Anybody would think its a school day.
_____________________________________________________________
Oh, I know.
You see it’s joost crying oot for some rocket
to intriduce some madness….
Heh. heh…
To all at Kev Jungle Inc, have a nice day from the Starry Plough Massive, we hope that you are all well and not worrying to much about the future, as a non supporting Celtic supporter we wonder as really wonder what difference anything that happens at Celtic Park bothers you at all and might we suggest a trip to the Southside to visit your old pal Gerry McNee to cheer yourself up…
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
10:57 on 15 March, 2013
______________________
Bobby – nice to talk M8 :o)))
You see…sumdy has to lay the bait and
hope to get a bite…
HH
.
OldTim..
No Worries Buddi..
Tho I’m getting the Blame.. (Again) for his Bad Liver..;-(
Summa of TheLiverMerseyCSC
starry plough
11:01 on 15 March, 2013
___________________________
Aye – and get a big pint of Gerry’s reality juice :o)))
HH
Not really,Kev.
I was merely wondering where a pessimist goes when he’s feeling down.
Why do the newspapers always say that wee Cragie and Donald Findlay were singing The Sash when both sang The Billy Boys, which is a different kettle of fish altogether?
KevJungle – “…the game is over – the seats are awe empty!”…
Exactly Mate make you both feel better…
BlackcloudCSC
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
11:03 on 15 March, 2013
Not really,Kev.
I was merely wondering where a pessimist goes when he’s feeling down.
_____________________________________________________________
Oh, on here of course – then I can dream along wi awe the rest
of the dreamers….
Now that the blog is quiet,I decided to catch up on the rags.
This-non footie-caught my eye. And it’s from The Mail…..
It’s nice to live in such a modern and tolerant society,innit?
http://www.dailymail.co.uk/news/article-2293635/A-middle-class-black-man-raised-white-parents-Ben-respected-police-Until-night-stopped-car-.html
The Craig Broon sang the Billy Boys thing is a piece of nonsense.
Don’t lump him in with mutton chops.
It just makes us look silly.
I am loving watching them squirm on SSN doing the CL draw with no English clubs involved.
starry plough
11:05 on 15 March, 2013
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I see it like this….
The standard of player brought to the Cellic since Henrik left…
is almost mirrored in the state of the MSM since – Gerry hung up
his pen. imo
HH
It takes a professional to be so………persistent and consistent.
prince albert_kidd of hamilton
09:34 on
15 March, 2013
Thanks for the link…dynamite.
BMCUWP
Help …. Aucht for Cheltenham …. Getting mullared thus far ….thankfully I haven’t had much time to punt…what I have bet has been guff
Ernie I only go by what the papers say. I wasn’t on the other side of the letter-box or phone.
Were you?
http://www.thefreelibrary.com/CRAIG%3A+I'M+NO+HATE+BIGOT%3B+Scotland's+boss+sang+Billy+Boys+to+his…-a060348092
malaga v dortmund
madrid v galatassary
I’ve just had a thought!
Is Kev aka Gerry McSherry?
Bankiebhoy
Quite so ….
psg v barca
Did Craig Broon not answer the phone at home and say
“Hello…..hello?
Kevj
I’m a avid fan of yerself……even if you post
some pure pish……but then again I wept
when the wicked witch died in The wizard of oz.
bayern v juve
Fergus McCann tried to bring in Craig Broon before he manged to get Wim.
Ernie
I may be wrong ….but.i don’t remember Broonie being up in arms about such a scurrilous falsehood
Kevjungle
Read that in the DR did you ?
Best wishes to all the cyclists for their trip to Belfast.
Hope everyone gets there safely.
Big Nan, not only is grandpa broon an auld hun but he’s a randy auld hun at that.
Three wummin on the go?
It must summat to do with the size of his bunnet.
Valentine’s Day
11:17 on 15 March, 2013
______________________
:o)))
HH
Craig Brown the………….
Hamilton Humper
Lanarkshire Lothario
?
Dortmund, Real Madrid, Barcelona + Bayern are my tips for the last 4.