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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Man in a suitcase – ah Mrs L. She was my English teacher for 2 years…happy days. She had a great sense of humour and classtime was good fun.
spikeysauldman
15:27 on
14 March, 2013
see some talk of Fr. Lennon on here – he married my parents in St. Catherine’s.
and talk of Tony Martin – ran about wi Tony, played football with him for a while.will be drifing down near Ryemount to pick up the wee yin in 5 mins.
how long ago was the wedding.where did your mother live balornock or bar m.
I read a survey about 3 years ago, which came out saying that the Dunfermline fans are split down the middle when it comes to who they prefer between us and sevco. I also read a similar DA fans survey where 75% consider CFC to have the biggest support in Scotland.
Banks and bums.
Poor Hunfermline.
Maybe they should take a leaf out of Leeds Utd’s book.
Sevco fans take note.
What you need mate is a high fibre diet from the Gulf states preferably.
Does the wily Ken Bates suspect that his new best friends from Bahrain, Gulf Finance House, and their British frontman David Haigh
http://www.gfh-capital.com/about-us/executive-team/david-haigh
may not be at Elland Road for the long haul back to the Premier league?
On Dec 21st GFH announced that it had acquired Leeds Utd, buying out Bates and the minority shareholders. The suggested price was £44m, but others suggested that the real figure was nearer £14m, with any more depending on Leeds being promoted and remaining in the Premier League. Promotion this season looks unlikely and already there is speculation that GFH is looking for a buyer.
But what is this? The Leeds Utd accounts for June 2012, filed since the GFH deal was announced, reveal that on Dec 21st 2011 the club issued 32 preference shares to Lutonville Holdings, an offshore company linked to Bates.
http://lwmyd.tumblr.com/post/39571516671/2011-12-lufc-accounts
The shares were issued for £3,092,894. The preference shares were “redeemable upon a change of control in Leeds City Holdings” – the parent company Bates sold to GFH. Any new owner of Leeds would have to buy out Lutonville.
So, the day before the sale to GFH went through, the preference shares were duly redeemed for £4m, paid from a facility which either came from or was guaranteed by GFH as part of the takeover. Bates netted £1m tax free profit in just 12 months, to go with whatever was also received in the Caribbean tax haven of Nevis for his 73% of the equity.
Goal!
I’ll see your eyebrow, and raise you two
Any word on the Sevco Colts or is it still just the ole Sevco Donkeys?
Neil Lennon has backed plans to introduce Celtic and Rangers B teams into the Scottish Football League.
Steinreignedsupreme
16:55 on 14 March, 2013
Neil Lennon has backed plans to introduce Celtic and Rangers B teams into the Scottish Football League.
*Neil Lennon is only saying what DD tells him tae say.
Celtic striker Anthony Stokes hopes to agree a new contract “over the next couple of weeks”.
The 24-year-old’s current deal expires in the summer and the Irishman is keen to remain at the club.
“I’ve spoken to the gaffer about it and it’s something we’ll try to iron out,” Stokes said.
“I love it here and loving playing for the club. I’d love to stay. I just want to focus on my football.”
Stokes, who joined the club from SPL rivals Hibs in August 2010, is back in the starting line-up after missing five months of the season through injury.
“My contract is up at the end of the year but there’s a year option on it so, it’s something to discuss over the coming weeks.
“The injury has been unfortunate but two seasons before that I’ve scored goals and come back and scored goals again,” he said.
“That’s all I really worry about, there’s nothing you can do about outside influences. I just want to focus on my football and try to stay in the side.”
Meanwhile, Celtic manager Neil Lennon says he would love the spending power of previous Old Firm managers but is realistic about the current financial climate.
“What I need is investment,” he said. “If I can get £10m to spend on new players in the summer then we’ll be even better.
“This club is ripe: we’ve got really talented young players in the team. We haven’t spent a lot of money; we’ve made a profit every (transfer) window and have cut the wage bill.
“Sometimes, when you have that sort of cutback, then the quality is diluted at times and that’s what we’re seeing at the minute.
“Now, if I get the money that other Old Firm managers have had in the last 10 to 12 years, then I’ll easily get more than 100 points (in the league) and make the last 16 of the Champions League on a regular basis.
“But, am I going to go and ask Peter Lawwell for £10m to £12m and he’ll go: ‘why?’ and I’ll say: ‘I want to get to 100 points’ and I’ll get laughed out the door.
“We’re trying to not take our eye off the ball and what you’ll see this weekend is a fresh Celtic team ready to go for the title.”
Meanwhile, Celtic goalkeeper Fraser Forster has been named in the England squad for the upcoming World Cup qualifiers against San Marino and Montenegro.
Forster has broken into the England set-up under Roy Hodgson but has yet to make his international debut.
Kelvinbhoy ….. Sorry about the delay ! I Did. attend St Marks n Trinity but av got four years on you m8 ! Good chance you went to school with my younger sis tho ! Played in the same school team as A walker ! He was a decent sub right enough as our team was the dogz lol !
Steinreignedsupreme,
If your NL comment is correct I really do despair.
We seem to be doing all we can to give them sustenance.
First Charlie, now NL.
Do the club want more empty seats on Saturday.
Bloody hell, Lenny still believes there is an Old Firm. FFS!
Michael Caine eighty years young today.
Not many people know that CSC
Afternoon Celts.
I need to mention this as its troubling me somewhat, when did we stop chucking toilet rolls onto the park? And why?
:>)
V
Toffeetim – stayed in Carrick Road. You must have gone to school with one of my brothers……surname starts with an H and came from a family of 4 boys to narrow it further.
In the clubs eyes, the Old Firm have never gone away, only a minor setback in the overall picture.
kelvinbhoy
Is your nomme Kelvin Hunnite?
Forrest injured again
Slow News Day
Oscar Pistorius is a well loved sportsman ever since he shot onto the scene
vmhan
17:16 on 14 March, 2013
Afternoon Celts.
I need to mention this as its troubling me somewhat, when did we stop chucking toilet rolls onto the park? And why?
:>)
V
………….
Think it stopped with soft tissue.
Izal was better in flight.
VP – lol. Thats a pint you owe me next time our paths cross. Hows tricks?
TET @15.30
Methinks Swivel-eyed Davy Leggatt now has a rival!
Brilliant.
HH
Lennon open to B team idea
Celtic boss Neil Lennon admits he would be interested in the club fielding a second team in the Scottish Football League.
But Lennon believes the idea is unlikely to gain support from other member clubs, as Scottish Football spends another period of uncertainty over possible league reconstruction for next season.
When asked about the idea of a Celtic colts side playing in the lower leagues, Lennon said: “Why not?
“I think it would be good for the game but from what I gather there is not too much support for that. I think it was mooted maybe a year or two ago but nothing was taken on with it.
“For us, it is a good idea. Ourselves and Rangers are probably the only clubs who could afford to do that. Whether it would bring crowds in, give our players experience, I don’t know.”
Once again Lennon had to deal with questions about Rangers – days after Celtic defender Charlie Mulgrew was also asked for opinions on the Third Division club.
But unlike Mulgrew, the Irishman was not prepared to indulge the press pack over matters relating to matters at Ibrox.
Lennon added: “I told you before I am not going to answer any more questions about Rangers and the fact that you asked Charlie the question the other day – that disappointed me as well.
“Charlie was there to promote PFA Scotland player of the year and he ends up answering questions on Rangers.
“Now I have told you before if you want to pursue that line of questioning the press conference is over.”
From SS text
Jonny the Tim
It took a couple of takes to twig, but aye, it’s brilliant stuff.
I haven’y seen Damo posted for a while.
HH
Steinreigned
I think that’s pretty clear from Neil Lennon.
The Sevco Colt ‘story’ has nothing to do with Celtic, or our resources to field a junior side in a Scottish League, and it’s ironic that it was the old dead Rangers that brought about the end of reserve football in Scotland, because they could no longer afford it.
kelvinbhoy
Awright mhate,getting used to doing nothing ,seizing up:O(
Need to oil my joints,mibbee see you Saturday.
http://static.tvtropes.org/pmwiki/pub/images/tin_man.jpg
Ah notice Neil..is wishing that he had the Buying Power of Former Celtic Managers.
He wishes that he could be able tae approach ,Pierre.. with a Request fur.
Ten or Twelve Million,in order tae order up.. New Players.
But, Being a Realist, he knows that efter makin’ that Request,he wid be laughed oota the room by Mr. Lawwell.
And.. In Ma Opinion. Rightly , so.
Neil..again ,in Ma Opinion..
Celtic,Disnae NEED.. any New Players..
He, Already, has a Full Complement of Potential Match Winning Players,at his
disposal.
It is up tae He, himsel’… Tae find the Winning Hand..oota the Cards ,which he has already ..in his.. well.. Hand.
So far, He has Done .. a Fair Joab ..of Picking and Choosing and Selecting Next Card..
Howevahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh..
When is Comes tae..
DISCARDING.. the Cards ,in his Haun. which are of Nae Further use..in Making a WInning Haun..
Well.. In That respect.
Neil, in No Daeing .. A good Joab, at awe.
He is Holding on, faur Far too Long..Wan or Two Cards,that are jist taking up room in his Haun.. and
Mair.. IMPORTANTLY..
Preventing Him from.if he does not.. Throw them away..
From … going oan.. and WINNING THE BIG POT.
Neil, must be far,far, mair Clinical.. and .Practical.. n..well.
RUTHLESS.. in Making His Team Selections..
He should adopt a More stringent Test.. in Forming the Nucleus of a Winning Team
A .. CONSISTENTLY Winning Team… Ah may add.
“Whita Hiv ye done Fur Me ,Lately..kiddo?”
Should be the Mantra, which he should Adopt.. and if the answer ,he receives
is of the Unsatisfatory Kind..
Like….
“No Much, boss.”
Then Neil should Act, accordingly..in which …
He must be Totally Ruthless..and Remorseless.
Kojo
Still.. Laughin’
NL also giving glowing tribute to Broon who is retiring from management with Aberdeen at the end of the season.Must be me who is out of touch with all things Celtic…….
GoooooooooooooooooooooooooooooooooooooooooD
Evening……………………………………
…………………………..
C…………………………………………..
Q………………………………………
N……………………………………………….
BigJoeindaaaaaaaaaaaaaHOUSE
I very much like the idea of a Celtic Colts team competing at Lower League Level. There is no present justification for Sevco to have a Colts team but with their big fan base I understand why they were included in original proposal. My dream would be to see Celtic compete in either the EPL or a European League, with our reserves competing in the SPL. Getting the Colts idea up and running would be a small initial step which could lead to above scenario at some future date.
Personally, I am against reconstruction until there is a clear out of the blazers who have decimated our game for decades.
How can anyone of us accept any proposal coming from them ?
A clearout is what’s needed. Not rearranging deckchairs. I wish we had the cumulative force the fans had last year although I fear a fair few have been scunnered into despondency.
!!bada bing!!
17:49 on
14 March, 2013
Don’t understand that comment.
Lennon and Brown get on well off the field and brown always has good words to say about Neil.
Fail to see how our manager paying a friend a tribute puts him out if touch with Celtic?
BigJoe and number 1 son coming over for the Aberdeen game.
Hype…………………
Hype………………………
Hype…………………………..
BigJoeCANTwait……………………
why is there so much concern about sevco? no matter what happens with the league structure they will have to work through it. the sfl clubs are only annoyed becease at least 10 of them will miss out on the sevco pound next season if 12 12 10 10 is introduced.
celtic dont have to say a thing and if you dont like what celtic are doing you can walk, there’s no gun to your head.
no matter what the future holds, the one thing that will remain forever is that rangers newco was formed because rangers oldco died, but not before falling into a disgrace of a club found to have robbed and cheated its wa to successful. FACT
i am either pro or anti celtic colt team in the lower league, if it improves scottish football and celtic as a club, i am for it.
Jonny the Tim
I especially like the bit about the Potato
http://williammcboyne.wix.com/tarrierhunter#!symbology/c1eaz
VP – straight home after match – good lady is out so no Chapmans for me. Enjoy…….
bournesouprecipe 17:48 on 14 March, 2013
Ah the story of the ole reserve team at our former rivals.
Just another thing the MSM don’t want to talk about.