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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Wives got the remote Whats the score??
Che
I borrowed that tie from BT :-)
That’s my bet gubbed, keep the goals coming hibs.
On the bright side my dad won’t watch the huns play as he thinks he’s a jinx…what a lift it gave him me phoning with an update….;)))
https://twitter.com/MattLindsayET/status/516670923223887872
Mohsni gesticulating to the fans and getting dragged away by a wee Orc sub. Ha ha!
How illustrious a managerial career do you have to have jad before you are seen as fit to be entrusted with the Celtic job.
Our first manager was appointed in 1897 as a 29 year old. As a Celtic player he had played in 3 league title winning teams and one Scottish Cup. He had no management experience at all.
Our 2nd manager was basically a caretaker during WW2 years. He had previous managerial experience- two years with Alloa where his biggest achievement was leading them to the runners-up spot in Division 2. Like our first manager, he had a successful playing career with Celtic, which was enough to land the job.
Our 3rd manager was a Celtic legend. After 15 succesful years as a player he went to manage Kilmarnock for 8 years including the 6 years of WW2 where we had a phoney league competition. In his first year managing Killie he lost a SC final and did nothing for his remaining 7 years in management to recommend him as a manager for Celtic. Except for the fact he was a Celtic playing legend. And in 20 years of “managing” Celtic he gave few signs of working any magic on the side.
Our 4th manager had managed for 4 years at Dunfermline and one year at Hibs. He had won the SC with Dunfermline but had also shown some ability to win European ties. With Hibs he won their first trophy in 10 years, the Summer Cup. This appointment, probably our first modern manager, had shown some promise but had no record of league title winning behind him.
Our 5th manager continued the pattern where being an ex-playing legend or stalwart was sufficient to get the gig. He had just over a year in management, 3 months with Clyde and a season with Aberdeen. He had kept Clyde as a mid-table 2nd Division side and he got Aberdeen to a losing SC final appearance and league runners up. His main qualification for the manager’s post remained his status as a club legend and his leadership aura which he had in spades.
Our 6th manager was also a successful Celt as a player. Prior to joining Celtic, he had one year’s experience as a manager during which he won the 2nd tier title with Motherwell.
Our 7th manager was our 5th manager brought back. During 4 years away he had won promotion from Div.2 for Man City on his 2nd attempt. Two years later he was sacked as Man City manager and had a few months as Villa manager, which ended with both teams relegated. Despite this inauspicious record, we were delighted to bring him back because he was a Celtic playing legend.
Our 8th manager was the first not to be an ex-Celt. It was his first managerial appointment but he was a ROI playing legend.
Our 9th manager saw us back to the tried and trusted ex-player route but this time the ex-player had an extensive managerial record. He had had 9 years as a manager with 4 different clubs. He lead Swindon to 2 lower league promotions, managed 6 unsuccessful months with West Ham, a year with Birmingham and a League Trophy final, and, finally Stoke for 2 years where he won another League trophy final and a Div.2 title. For the first time since Big Jock we had a blooded manager with more to offer than his mere 58 appearances in a Celtic jersey as a player. As manager, he lasted a year and won nothing.
Our 10th manager was a much loved ex-player with 2 years experience managing Killie and he had won a 2nd tier league title too. He lasted 3 years and won us our first trophy, our first SC in 6 years but the league title remained elusive.
Our 11th manager broke the mould. He had not played for Celtic or Ireland. He had 15 years managerial experience, mostly as an asst. or technical director but he was experienced. He had won a Belgian 2nd division title with SVV, 2 Dutch Cups with Feyenoord and one Dutch Championship. He was heading off to cosy managerial appointments with unambitious national teams and a Japanese club team however when Celtic came calling. He stayed with us for one glorious year and gave us our first title in a decade. He quit after winning it, spent 4 years out of the game, and never took up a front line management post again.
Our 12th manager was another experienced foreigner with no connection to the club. We were his 17th managerial appointment over 32 years. Though his achievements were light (2 Czech league titles in the 70s), his reputation was strong. But he could not repeat Wim’s trick.
Our 13th manager was another mould breaker. He was both a rookie and had no prior relation with the club, other than being recommended by an ex-Celt, who came with him to “mentor” him. We had high hopes but this was nobody’s idea of a formula for success even though it was marketed under a Dream Team label.
Our 14th manager was the Mentor stepping in to salvage his mess. A playing legend with a track record of managerial achievement at a high level. He won us a league cup and left us with bitterness.
Our 15th manager was a new pattern too. He had not played for us but was Irish and seen as Celtic minded. He was experienced having managed 5 different teams over 13 years before arriving. He was loved and successful as he reversed a long lasting trend of domination by Rangers. He still left under a cloud but gave us 3 leagues, 3 SCs and a LC in 5 years.
Our 16th manager was again in that pattern of successful achievement and experienced. He had 9 years in management with 2 English clubs though he had not been a winning manager. He was never fully accepted by a support pining for the Lost Leader but he delivered 3 league titles, 1 SC and 2 LCs within a 4 year spell as manager and also took us further in Europe (twice) than his predecessor.
Our 17th Manager was an Ex-Celt with 7 years experience in management and he had won the English 2nd tier title. He won nothing with us and lasted 8 months.
Our 18th manager was a rookie with no managerial experience. The support was split on this return to a non-scientific appointment model but the man concerned won them over with a series of good wins but kept messing up his record with cup finals and semi-final defeats. He was, however our 3rd successful manager in a row with 3 league titles and 2 SC wins in a 4 year period.
Our 19th manager has been here for 3 months.
Overall, my conclusion remains the same as the last time I reviewed this complaint.
I do not know from what evidential base the belief arises that Celtic could and should recruit managers from a competitive short leet of experienced successful managers, preferably with a Celtic background. The evidence from history is that our managers have had much humbler records before they came here and that Ronny Deila’s record of one Norwegian title with an unfashionable team, is not out of keeping with the records of most of our managers, most of whom never got anywhere near to top team league title anywhere in their background.
Chick Young classic on Queue. ‘This shows what an incredibly tough challenge it will be for Alistair to get his team promoted first time from this really competitive division’.
Matt Hunnite Lindsay..
“It is all too much for a lot of Rangers fans. Many are heading for the exits already.”
Ho Ho Ho
Big Malonga looks a good player. Running the show up front for Hibs. Sevco have no answer.
By the sounds of it the newclub are getting scudded 3 nil
A dare ye tae take the remote sorry try and take the remote :))))
http://www.livescore.com/
Dallas
You really don’t have to thank me for replying to your posts. As I said yesterday evening I am amazed at your recall and recollection of Celtic matches from the past.
Your posts are what make this site what it is (or was for some lol). We have a tendency to grump and groan but every single day that I am on this site I learn something new and valuable about the team that I adore. Quite a few courtesy of your good self
When you do get some time I would certainly be able to point you in the direction of people who might be able to help re your ancestry in Fermanagh. If it was Cushendun I could have been of greater assistance.
WarmandfuzzyCSC
tictaewin
More rain falls on the Basque region every year than there does in Ireland.
HH
PS, Me thinks you are backtracking re the rain thing >}
Boooooooooooooooooooo
Moshni remonstrates with the crowd and is pushed down the tunnell.
Now this is fun !
The only bad thing about this tonight is the lack of McCann and Tanner in the stadium commentating.
Gene,s
Maybe so but doesn’t change the fact the guys a cheat(ref)
Jake Humphrey @mrjakehumphrey 3m
Rangers 0 Hibs 3 at half time on @btsport. Huge boos at the whistle. Alan Stubbs will be enjoying it…
Prediction for the second half….Hibs down to nine men, at least one penalty and an offside goal..or my hun neighbour tops himself.
A coconut to the first poster to say we should sign Malonga fae Hibs
Vogue
What is the world record for penalties awarded in the second half of matches?
I think we are about to find out!
HH
tictaewin,
“Mair the rain”?
We have the same weather in Ireland as youse in Scotland.
Our team was founded by the Irish, or hadn’t you noticed?
Put away the spade.
GoogyBhoy, thanks for drawing my attention to tonight comedy show, I wasn’t awar it was on.
Very funny indeed.
Yer a Ghent.
Just watched the last five minutes or so of the Hibs game (Nice third goal) then listened to the boos of the Home support at half-time. I remember when I used to be slightly proud of the fact that we never did that.
JJ
And we think we’ve got problems.
Fear not Bhoys & Ghirls sevco cant afford £800k to sack the sleekit coward or £1:3million to get rid of him and his two chuckle brothers assistants
If Carlsberg could do Monday Night Football……….
Chick Hun and Dick Wilson barking on Shortbread, marvellous stuff
Sevco struggle against full timers.
What are the odds on a 4 – 3 Sevco win I wonder?
WeeFra
I wasn’t referring to you mate I was just pointing out that there’s a world of difference between the two.
What I will say is some of the comments on here blaming the Celtic support for falling attendances, criticism being labelled as doing the MSM work for them and every possible excuse being used to explain Ronny’s tenure so far is pathetic and laughable.
We’ve even got a poster suggesting that because we’ve never managed a professional football team that we don’t have a clue what we’re talking about.
Kenny Miller looking like he’s about to cry on live TV…
I backed sevco 0 hibs 3 at 33-1. Hoping for a very boring second half, or 5 more for hibs
Chic Dung sounds very angry about Rangers. A bit odd for a St Mirren fan.
Sorry, I’m in Rosenheim
Turned RS on there …..they’re appaplectic ….hahahahahahahahahahahahaha
HT
Is this in response to me:
“We’ve even got a poster suggesting that because we’ve never managed a professional football team that we don’t have a clue what we’re talking about.” ?
JJ
SFTB…
Our 12th manager was another experienced foreigner with no connection to the club. We were his 17th managerial appointment over 32 years. Though his achievements were light (2 Czech league titles in the 70s), his reputation was strong. But he could not repeat Wim’s trick.
Ermmmm……Winning Euro Championships as boss of Czechoslovakia in 1976 was hardly ‘light’
Just switched TV on. Craigan and Misser faces tripping them. Lovell just loving it
HH
CRC
Chic’s apopleptic. Calm doon son it’s only a game.