Banks and bums

796

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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796 Comments

  1. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    KEV J

     

     

    Yer post at 1211 is the best yet.

     

     

    The only thing stopping Dillon getting a winners medal in the African Nations Cup is that e isnae African? Is that it?

     

     

    Not because he’s utter pish?

  2. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    I think we are maybe doing KEV a dis-service here.

     

     

    With his in-depth knowledge of,erm,Dundee Utd and some kids who went to England,he might just be a scout,you know.

     

     

    He’s definitely Tonto…….

  3. Shaun Dillon is a member of a defence that has shipped 24 goals at home and 26 on the road…almost twice the amount of goals that Celtic’s defence have lost this season…

     

     

    Something’s no adding up here Kev..

     

     

    Donkeyrus…

  4. Parkheadcumsalford

     

     

    11:40 on 15 March, 2013

     

     

    I think an ex burd of his went to the tabloids with a recording of him singing down the phone to her.

     

     

    She did this when she discovered that she was only one of his burds.

     

     

    So maybe not the most reliable of sources.

     

     

    Regarding the referee ‘strike’, from memory he was just about the only manager who voiced any criticism of them. Any he was correct when he said that Neil Lennon was the initial cause. That’s to Neil Lennon’s credit.

  5. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    PF AYR

     

     

    May those who decide whose lucky day it is choose either of us. Or even remember we blinkin’ exist.

     

     

    Cheers,bud!

  6. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    KEV

     

     

    If it’s a good team,why put some unproven nonentity into it?

     

     

    And if it’s a good team,why the effin’ hell are you always moaning about it?

     

     

    Blinkin’ flip,Kev. Give up for the day and sod off to the pub……..

     

     

    Save yourself the embarrassment…..

  7. KevJungle – “…the game is over – the seats are awe empty!”…

     

     

    Ah so he’s a project then, not the quality we were talking about earlier, like Henrik who was of course world famous when he came to us..

  8. sipsini

     

     

    12:14 on 15 March, 2013

     

     

    kevjungle – “…the game is over – the seats are awe empty!”…

     

     

    12:03 on 15 March, 2013

     

     

    I sat in that area once, the ticket office messed up and gave me a comp for the said area.

     

    We were playing the huns the game hately returned.

     

    I spent most of the game avoiding coins being launched from the scum…

     

    Never again.

     

    ________________________________________________________________

     

    I know whit yer saying M8

     

    I was sitting next to them on the night that – Gazza was sent off for elbowing big

     

    Morten Weighorst and, Darren Jackson made his return to the team after his

     

    brain-op. The usual…as you say – coins / spitting / baring their erses I kid you not…

     

    …but, worst of all for me was the chanting aimed at – Darren. Disgusting stuff.

     

    HH

  9. starry plough

     

     

    12:27 on 15 March, 2013

     

    _____________________

     

    Well it’s all aboot opinions. imo

     

    I think that Efe – lokked like the player

     

    who would turn big Kelvin into a player

     

    until Neil started moving Efe aboot the team.

     

    To cut a long story short – if anything…I think

     

    the worst thing aboot Efe is – Neil mis-manages him. imo

     

    HH

  10. BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS

     

     

    12:26 on 15 March, 2013

     

    _____________________________________________

     

    I was being sarcastic when I said – we’re a good team.

     

    That’s what I do !

     

    And no – I won’t sod-off to the pub because – that’s what you do when

     

    the CQN kitchen becomes too hot for you. imo

     

    You need the drink – I don’t.

     

    Hopefully that will clear things up for you.

  11. Ramie

     

    11:49 on

     

    15 March, 2013

     

     

    RIP mr Kane

     

    you were a true gent

     

    my thoughts are truly with the kane family today

     

    me and martin are right now saluting you with some vodka

     

    thanks for letting me be part of your wonderful family

     

    hail hail

     

    ramie

     

     

    ———————————————————

     

     

    cyber glass raised to Matt, yourself, Martin and the family.

     

     

    Hail Hail

  12. I have a friend who’s very fond of using clichés…..only problem is he gets them mixed up most of the time….acouple of examples are…..

     

     

    “A lot of water has passed over that bridge”

     

    “A jet white cat passed in front of me”

     

    “No point crying over sour milk”

     

     

    I often want to correct him but its more fun waiting for others…

     

     

    Classics….when I remember more I’ll share…

  13. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    Oh dear,Kevin.

     

     

    Is that another unjustified accusation and ridiculous falsehood you are laying against me?

     

     

    Making quite a habit of it,aincha?

     

     

    Listen,old pal-if I spouted as much drivel and on such a regular basis as you do,I would be desperate to convince people I was blootered at the time!

  14. BMCUWP

     

     

    Come join the Temperance Society with me ,my friend.

     

     

    Then we will go for a bevvy afterwards n talkaboot oor Kev,he’s a right laugh.

  15. KevJungle – “…the game is over – the seats are awe empty!”…

     

     

    If Dundee Utd had a center half like KW they wouldn’t be 7th in the league with the fourth worst goal difference in a league that contains Dundee!!

     

     

    You’re right it’s about opinions, imo Neil has tried some different schemes and tactics this year as we were ahead in the league and as was called for by many, get the youngsters in, give the fringe players a run, etcetc sometimes it’s worked and sometimes no but better to try things out at home and test them for next years CL qualifiers than get caught cold a la Braga.

     

     

    Me I’m happy the way the team is progressing and that is of course just my opinion…

  16. BMCUW

     

     

    Hiya bud!

     

     

    Stop braggin’ about backin’ a winner at Cheltenham! …but well done anyway!

     

     

    …and as for Paw Broon – he’s got a lot to learn in the Lothario scheme of things from that old swivel-hipped, twinkle-eyed crooner, Silvio Berlusconi!

     

     

    HH!!

     

     

    bungabungaCSC

  17. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    VOGUEPUNTER

     

     

    Watching him tie himself in knots with his denouncements of everything Celtic was quite amusing,especially the contradictions as he attempted to justify them.

     

     

    But I like your version of a Temperance Society-where do I sign up?

     

     

    Ooooooooops,silly question……….

  18. 31003

     

     

    A friend of mine once said to me – “It’s nae use closing the horse once the stable door has bolted!”

     

     

    Laugh?!

     

     

    I nearly p*ssed maself!

     

     

    HH!!

  19. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    TALLYBHOY

     

     

    Paw Broon has a lot to learn in the lothario stakes from you!

     

     

    So does Berlusconi,I reckon-Tom Jones anaw!!!!!

     

     

    No wonder the missus comes out to keep an eye on you…….

  20. NEW ISSUE OF CQN MAGAZINE is out TODAY!

     

     

    Paul will post shortly.

     

     

    European review, Johnny Doyle, Sammi, Charlie Shaw, Matt Lynch -all Celtic legends.

     

     

    Bloody Sunday, Hillsborough and the Rangers use of EBTs – after Nimmo.

     

     

    Living in a City of Immigrants.

     

     

    Setting Free the Bears on the best Celts of the 70s.

     

     

    Flags of our Fathers and much more in 104 pages.

     

     

    Oh and Brogan Rogan Hogan an Trevino has an article called the Loan Ranger that is so long that we had to create a separate link – so you read two pages in the mag then click on the link and it turns into a BOOK!

     

     

    Enjoy!

  21. Ramie

     

    11:49 on

     

    15 March, 2013

     

    ******************

     

    Ramie pass on my regards to Martin and family please. I’ll raise a glass in Matts name when I’ve completed the Kano 125 sponsorship.

     

     

    I spoke to Kitalba the other day who told me the sad news.

     

     

    V

  22. BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS

     

     

    12:41 on 15 March, 2013

     

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    Tsk, tsk Bobby.

     

    All of that being driven by the FACT that

     

    you know – that I know – what yer REALLY like.

     

    See when I was a wee ghuy being brought-up wi ma auld

     

    granny….she said to me one day – “Never ! I repeat Never

     

    trust a guy wi snake-eys !”

     

    Aye- That’s whit she said ye know.

     

    My Auld Granny’s Galway Shaul – CSC