Gavin Masterton, who as managing director of Bank of Scotland in the 1990s, was one of the financial lynchpins behind the issuance of credit to some of the leading investors in Scottish football, and was responsible for what was seen as reluctance to extend competitive terms to Celtic AFTER Fergus McCann’s takeover, today issued notice that one of his companies will be wound up, as it cannot meet commitments to repay loans by new Dunfermline Athletic owner, Christopher McBay.
Masterton came under pressure, which he eventually relented to, to write-off money he loaned to Athletic to allow it to avoid liquidation last year. He also claims these developments will lead to his personal bankruptcy.
In September last year, Ian Fraser, author of Shredded, an analysis of the debacle that was the Scottish banking industry, wrote in his blog;
“Charlotte Eighteen, a shadowy company based in the tax secrecy jurisdiction of the British Virgin Islands, remains the subject of intense interest among Scottish football fans. Allegedly the holding company for the business assets of Gavin Masterton, the former treasurer and managing director of the Bank of Scotland, it looks like it could be the crux to an extraordinary financial scandal at the heart of Scottish football.”
In March last year, Mail on Sunday wrote: “Bank of Scotland wrote off a £4 million loan to a company owned by Mr Masterton – then sanctioned the £12 million loan to another of his companies that allowed it to skip repayments for the next 35 years.”
In 2004, The Sunday Times, explained that while Masterton was at Bank of Scotland, an associate of his received a loan to buy Dunfermline Athletic, which included a guarantee that the loan would not need to be repaid until the borrower’s shares in the acquiring company were sold. Two years later, after Masterton left the bank, his company bought his associate’s shares and gained control of the club.
I bet the British Virgin Islands are nice this time of year.
Sean’s Trust, the charity setup by our late friend, St John Doyle to aid those dealing with stillbirth, are holding a Terry Christian stand-up comedy evening at the People’s Palace on 24 October. The show, Confessions of a Recovering Catholic, is a light-hearted look the legacy of his Manchester-Irish upbringing and has received excellent reviews. Billy NoWell is also on the bill, performing some of his unique material.
There’s a bar and buffet, tickets are only £16, email seanstrust@gmail.com for details.
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Evening Bhoys
Dilemma…..
Find myself in the local..
Deadco on TV.
Full beer.
Do I swallow and run??
Or start to sing yon song about leith??
No advice needed…,
Vocal chords warming up nicely
Speckytwinscsc….
gearoid1998
19:43 on
29 September, 2014
One thing that I really, really cannot understand is booing a Player in a Celtic shirt.
*in my youth when ever there was displeasure over the team and/or officials there was no booing just the slow handclap.
GerryBhoy
16:41 on 29 September, 2014
‘Plural is referenda;’
###
The ‘correct’ plural is referendums.
Even for once in a lifetime ones.
Anyone see Lambert and Keane snubbing that arrogant bassa Mourinho when he attempted to shake hands before the final whistle on Saturday?
Brilliant
BT
Hope u manage to finally get the leg fixed.
KTF
allgreen
19:10 on 29 September, 2014
If the Huns were in the top division RD wouldn’t be our manager.
I agree
According to the commentator Sevco kick off wearing their traditional blue shirts……
Watch what you say, folks. Ronny Deila’s career depends on how positively you word your next comment on a blog.
Positive word list for those concerned:
For ‘losing’, try ‘reverse winning’.
For ‘Johansen’, write ‘Zidane’.
Instead of ‘That team is a joke’, say ‘That team is an witty statement, designed to titillate and amuse.’
Forward we march!
DallasDallas
Enjoyed your chat bout old commentators like montford and the 4-2 game.i wasnt at that one but recall taking half govan, broomloan & enclosure at others around that time
Who was the commentator in 67 who stated ‘without a doubt The European Cup is on its way to Glasgow’?
:-)
HH
Jungle Jim 1944-
I wouldn’t say I know more about managing a football club than anyone else. I’ve never had the chance to put the theory to the test.
But I would say that many people who have watched Celtic regularly would know that playing Adam Matthews away from home in Europe was not sensible. But Ronny did so and Legia filled their boots.
Nonetheless I think his coaches – Collins and Kennedy – who would have seen plenty of Celtic these last couple of years should have kept him right on that one.
I start to become a bit more questioning when it comes to the chopping and changing of the team – eg Tonev in and out like a yoyo, Denayer starting Maribor away but not the home game, starting line ups all wrong leading to half time subs, Berget signed but quickly discarded, a player he had prior knowledge of from Norway etc.
Ronny has not had an easy time of it. Players sold in between CL qualifiers, limited funds for new players, a team laden with stopgap loans and players soon to go out of contract. He has been dealt a poor hand. But he isn’t doing anything to make me feel he can overcome the considerable obstacles that are in his way.
Just watched UTV sports news.
I will never warm to Rory McIlroy as long as he continues to wrap that sectarian Ulster flag around his neck, at every opportunity, to fawn attention and ingratiate himself with the sectarian spongers in N. Ireland, who follow a team that no longer exists (Clue: not Third Lanark).
What’s wrong with the yellow Ulster flag (9 counties) which is a proper representation of the Golfing Union of Ireland?
And there was me thinking that he was representing Europe in the Ryder Cup, not loyalist Ulster.
God bless Paul McGinley, truly one of us.
“Barnes was terrible from the start.”
Caber feidh,
Barnes won 12 out of 13 games before KOK broke his leg.
Hardly terrible.
An tearman
Kenneth wolstenholm?
My Dad’s best pal died on the morning of the 4-2 game in 83.
Long fight lost to cancer.
Remember my Da saying after that fantastic comeback ‘ We won it for Peter’
When my Da lost his job, Peter took me to the games.
Absolutely steeped in Celtic he was.
To this day I’m certain the Celtic won that day for him.
HH
AT-Kenneth Wolstenhome
HT
I was not referring to myself when I mentioned the knifes out for RD, but like we spoke about last Saturday, his team selections have me baffled. How can any team, this early in the season, start to “rest” legs. Brown and Commons should have been on from the start. We both know that, why doesn’t RD. That is my biggest beef with him, not to mention the turgid football we have seen, the one shining star, the Dun Utd game. Why he never selected that team again is baffling. Anyhoos, we will be back on Thursday cheering on the Bhoys. KTF. :-))
Weefra HH praying to Wee Oscar.
Must admit I hate Ireland. North and South.
Have no family history ties or affiliation with the place at all.
Dallas@19.46
Kidso’s death was most definitely of the non accidental variety. In actual fact the Soldier that murdered him was (as I mentioned) called Ian Thain. It was the first time that a British soldier had been convicted of murder while serving over here. Needless to say he served six months and was released on “license”, brought back into the Army and eventually promoted. Similar thing happened later in the case of Lee Clegg and Kidso’s death was cited as a precedent. I was at the funeral which was attended by a host of bands he had acted as roadie for. I had heard that about Siobhan Fahey but it wasn’t corroborated by anyone I knew so I put it into the Urban myth category. Always viewed her in a different light after it though and was positive enough before I had heard that.
Kidso was a massive Celtic fan as was his brother Jim who played drums for SLF. Erin go Bragh club from Belfast still celebrate Kidso’s memory and bring his banner to some games.
HH Dallas
BT
Sorry to hear you’re back in for warranty work! :-)
Will catch-up with you for a beer in the BV when you’re back up and about.
Take care!
H!H!
I think the main issue with Barnes was that he seemed to think he knew it all and he made some atrocious signings.
Tebily, wright berkovic rafael bonnes kharine. Petrov was the only decent player he brought to the club.
Did the commentator really just suggest that the playing surface in Govan is in as good a condition as the Gleneagles Centenary Course was before a shot was played on Friday?
I mean, really?
burnley78
19:27 on 29 September, 2014
———-
Yup – whit you said!!!
HH
BGFC
Weefra,
Broony was never going to play 3 games in a week after such a serious injury.
Jobo
I heard asbestos was good for grass
Jobo Baldie
He did just before Brother Murray starts stamping out any dissent from the opposition…
Just noticed the banner at the stoke game stating main match sponsor is staffordshire university – good use of public money adding to the epl coffers.
Winning Captain’s, while Davie Dodds was at the dons of Aberdonia one of the funniest bits of grafitti I have seen was the keep Grampian beautiful sign near Aberdeen with sell Davie Dodds below it.
That 4 2 game is still one of my favourite games I was at first because of our support that day who got really behind the team while two nil down against one of the defunct club’s worst ever teams and secondly, scoring four goals against them which was long overdue due to having a far better team than them in the previous three seasons.
Le petit jobbie signing issue in 1989 didn’t half give our support a boost before the treble busting cup final that year.
On the league game attendance issues, I would assume that our average attendance from 1976, when I started to more regularly, until Fergus arrived was probably in the twenty to twenty five thousand region.
My pals and I went to games because we wanted to through the good and the bad years. Higher attendances in the seventies outside games v the horribles, tended to be against Hearts & Hibs, then in the early eighties games against Dundee Utd and Aberdeen there were thirty thousand plus at these games.
gearoid
Kidso is still spoken of fondly and remembered as a friend in both Gallowgate and Parkhead,
The banner from Belfast is indeed a beauty, my mate from Whiterock Rd is a member of the Bus, his description of it was bang on the button,
HH
caberfeigh
19:44 on 29 September, 2014
Barnes was terrible from the start
Stats until Henrik broke his leg at Lyon on 21/10/1999
SPL
Aberdeen a) 5-0
St Johnstone h) 3-0
DU a) 1-2
Dundee a) 2-1
Hearts h) 4-0
Kilmarnock a) 1-0
Hibernian a) 2-0
Aberdeen h) 7-0
UEFA
Cumbran 6-0 & 4-0
Hapoel 2-0 & 1-0
LC Ayr a) 4-0
Barnes lost the dressing room after a defeat at Motherwell after Henrik broke his leg.
Incorrect to suggest he did not have a positive start.
Stephane Bonnes never lived the dream in the the Celtic first team, but he played 24 times and scored twice for the Maryhill Magyars.
@wiki
Darn -heavy rain in north staff just lost sky signal
Jings – Hibs are rotten!!
Oooooooops…
Get In !!!!
:-). I mean, only beating a three year old team 0-1. :-))))))
This is a dreadful game -no wait a minute come on you Hibees
…so far
John Barnes ‘lost the dressing room’ when the great Marko Viduka refused to play in the second half of the SuperCaleyGoBallistic SC exit.
Allegedly CSC