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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Pfayr – wit odds?
pfayr
We must be related. Same things happen to me!
HH
Kev
Check Daily Record jobs online,there looking for a full time hermit in
the cellar of ole printworks.hh
4-1 on ch4
voguepunter
13:40 on 15 March, 2013
_____________________________
Heh, heh :o)))
Off oot
Vado fuori.
Kev
The Club’s attendances have reverted to the club’s average attendances ver the course of its existence.
Like the rest of the UK economy, our attendances were buoyed by readily available, cheap credit in the mid 90’s until 2007. That’s my anaylsis anyway. By the way, the period you are referring to, under M O’N, we actually lost money, notwitthstanding the bigger attendances. I’m not saying that lower attendances are a matter of no concern, or that the ticket office couldn’t get more creative to attract more people, but they are dealing with a recession, and a support whichj traditionally hasn’t always been drawn from society’s most prosperous sections. They can’t turn sand into gold.
The stadium will only now be filled for big European games. Thankfully the “model” you deride has provided plenty of those this season. The stadium will, in my prediction, generate more revenue this year than in any year in our history. Go figure.
My bhoys name is Connor. If I see a horse with anything like his name, I back it. Missed it!
SoT
Quick question …given that Pope Francis parents were Italian ….are the Tally’s claiming him as their own ?
Art of war
Won by 15 feckin lengths
ART OF WAR
That spelling is my gran’s maiden name. Not that that had anything to do with it……
Pfayr – nae luck mate!
BMCW- :-)
As regards Kev……well, you know.
Art of War
Watch race on channel 4+1 bet online,everyone a winner.
Gerry, ye ain’t far wrong mate.
Vogue – haw haw! :-)
PFayr
Not my thing / haven’t given it much attention ———- therefore -don’t know
Local media did wheel out a Catania player who played for the team that the man supports.——- ” nice man / loves football etc “
gerryguk7
13:42 on 15 March, 2013
__________________________
Not much to figure.
The stadium will be full 3 / 4 times a season ?
The MON era was, imo, the last time we looked like a Cellic team.
Strange that – the 1st season the huns aren’t in the league and
the bored snin-doctors canny tell us how many SB’s have been sold
before being put through dental root treatment first.
Strange that folk like to – big-up – the model of how the club is
structured but, turn a blind eye to the fact that – the model is the main
reason the stadium is half-full /half-empty ?
Can’t hang around for a reply just now – catch ye later.
Hail hail
snin=spin
typo
sorry
laters….
Off oot
Ok guys.
Just wishing everyone a great St Patrick’s weekend.
I myself am off to Zilina and Nitra to celebrate on a Guinness hunt and will be back on Monday for work.
Whatever you’re doing and wherever you are and whoever you’re with have a great time.
kevjungle.
Enjoy being oot.
My post is a combo of the last few
Off oot for root canal treatment
And bet our Conor
Go figure…..
Sipsini
You enjoying being in?
HH
Kev
What does it mean for a team to “look like a Celtic team”?
We have had far worse teams than this over the past twenty years, inlcuidng one or two that won championships.
Martin O’Neill’s team was better but, guess what, the club was a financial basket case when Martin was the manager. So was the entire league. Rangers, Hearts, Dunfermline, Dundee, Motherwell. What do all those SPL high achievers from the early 2000s have in common?
That we have managed to have the success we have, and kept attendances at what they are, over the past six years is remarkable, whether you care to admit it or not.
The attendances were higher under M O’N. They were also higher under WGS, and WGS teams were red rotten by the end. The strength of the team doesn’t determine attendance levels on its own. The biggest thing that has changed since MON’s period in charge is that the country has suffered a recession, many people are unemployed or under employed, and the cost of living has risen far above wage levels.
If you think that falling attendances necessarily equates to a worse team, ignoring the context of a 6 year long global recession, well…
A big Hail Hail to wee Oscars Cyclists.
Vinny
Oh, and your cure all solution is to sign Wes Hoolahan and Thingmy Snodgrass.
I think I’ve said enough.
jonny the tim
Yip, not before time.hh
Is Paul not coming out to play today?
Is the blog broken?
OK,try this for a wee laugh,
http://vimeo.com/61275290
EMERALD BEE
You wanna send that to VMHAN-he was wondering why we no longer throw bog roll when we go to the game.
Now we know!
Gerryguk7
I think your spot on..but do the bored realise this?the prices fir the last few years have been higher than they should have been..no where near value for money.imo do we have an unemployed gate?if not why not?parent and child gates/ticket deals have to be encouraged..children being the future of our clubs support bring one child get one free or a pound or some other atractive marketing ploy..league cup crowds at home have been embarrassing..something has to be done to market these games better..
He’s at a funeral guys.
thank you on behalf of kano for your thoughts today
today has been a hard day , but made easier by friendly input
TTTT, CRC, kitalba, P67, murdochauldandhay….blantyre….and many more notable posters(who although not named…are thought of fondly)…you have been acknowleged by kano and are forever thought of
when the chips are down…you are there to ensure no one walks
alone…I like that..and gives me a silver lining to my wee cloud..
hail hail and thanks again CQN
ramie
Ramie
youl never walk alone..not when your part of the celtic family hail hail..great work being done by you and yours..thats why we care..
If I could sing and dance I would……….I saw the palliatatiive care team today and they were/are able to tell me that the cancer has not, HAS NOT infected my cranium. Adds months to life and given me the chance to sort things out properly. Not many get that chance.
I am a very happy mhan today!
HH!
Afternoon bhoys from a sunny hun free mountain valley.
Looks like the NUJ has withdrawn the pish stained alki’s press card, oh dear
Miki 67
Thats brilliant news!!what a releif that must be for you ..and your brother visiting aswel..magic! Looking forward to loads more of your high spirited post hail hail miki!!!!