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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BT
I was going to say take it easy mhate….but yir horizontal yet again :O(
Best of luck buddy God bless.
BT
Best of luck mate.
mickbhoy1888
That’s very naughty.
“Ronny, with the same amount, has managed 27 from 57 (47%)”
Up over the goal,
Does anyone really include preseason games in their stats?
BT
Best of mi amigo, take it easy.
HH
blantyretim
Best of luck, young un.
Burghbhoy
I was merely pointing out that no such angry demonstration of frustration with our manager has occurred.
He will be given time, but if he doesn’t improve, the only people going to games are the faithful through and through types, yourself included, who will probably congratulate themselves. Then Ronny will be sacked.
HT
The sad thing is Paradise would be packed to the rafters on Thursday night if we were playing Sevco.
And RD would be hailed a hero after the inevitable win
burghbhoy
Define ‘Faithful through and through’ please.
I spoke to a number of supporters outside the ground prior to KO on Saturday, none of them are currently convinced by Ronny.
I could pretty much guarantee that none of those I spoke to would have booed had the result gone against us at Paisley.
Geordie Munro
No preseason games were harmed in the making of those stats.
Up_over_goal
I certainly do not feel the need for self congratulation & am Disapointed u feel that the case.
I go to Celtic games because I love the club and have done so all my life.
I won’t stop going because we are struggling for a bit of form.
I’ve been very critical of the board but even their disgraceful stewardship won’t deter me.
I want wonderful free flowing attacking and winning football.
My point has been simply tonight that I believe the Manager needs a chance and he ain’t been given an even break.
That’s all, just my viewpoint
Geordie Munro
Oops. You’re right. It isn’t 19 games. It’s 15 games – 25 points from 45 (56%).
So, Le Guen territory, not Mowbray.
Stand down, torchbearers.
HT
Faithful through and through to me means turning up to games win, lose or draw and keeping going back for more.
Our club is more than a mere football club.
We are a ‘ cause ‘
Shortbread,despite being banned from Pressers at The House of Pain,continue to fund them covering the Hibs game tonight.
McIntyre to Dick Wilson ‘you’ve seen a fair bit of Rankers this season…’,no sh/! Sherlock…..
Cheers bhoys
Looks like holiday cancelled.. 8((
B/Tim- sorry to hear of the latest setback.
You’re under the doctor more than ole Old Tim these days.
burghbhoy
18:41 on 29 September, 2014
HT
Faithful through and through to me means turning up to games win, lose or draw and keeping going back for more.
Our club is more than a mere football club.
We are a ‘ cause ‘
——-
Completely agree. My point it that many of those who’re supporting that cause, in attending games, are clearly not convinced by the manager.
It has nothing to do with the ramblings of Jingle but all to do with what we’re witnessing on the park mate.
The smsm desperate for Celtic v Sevco game
http://www.heraldscotland.com/sport/opinion/as-reunion-draws-closer-is-there-even-such-a-thing-as-the-old-firm-any-more.25448606
HT
I agree, RD has not had a brilliant start, but I believe he will get it right in spite of the board
burghbhoy
I sincerely hope you’re right, I doubt there are any genuine Tims who actually want him to fail, I have my doubts though.
H.T.
Changing subjects. Scrolling through I see you mentioned Sam Cooke, a particular favourite of mine. Read his biography what a life. More conspiracy theories about his death than JFKs.
The amount of artists at the time who plagiarized his music is astounding. Also I was unaware how involved he was with the civil rights movement made me love him even more. A change is gonna come, very brave song for the time. When he died cops didn’t even bother investigating,just thinking another black man or words to that affect, wasn’t till his fans started turning up the next day that they thought they better do something. Amazingly when he sang Gospel in his early days, he wasn’t considered a great singer just good.
Burghbhoy
Nobody should feel the need to come on here and hold themselves up as examples of how to support.
You go to games no matter what. Fine. Surely you want other fans to come along and fill the stadium? In the present financial climate, that is difficult, but we can safely say that improving the quality of football would bring in a few more.
Saying we should all be faithful through and through is one thing, but Celtic fans are like fans all over the world. They want excitement, drama, goals etc. Of course more fans would turn up if Sevco came to town (and yes, I know some who wouldn’t – their seats would be filled). Every club’s attendances go up with victories, rivalry, and competitive excitement.
If you want the best for Celtic, you surely want things to improve. You think they will. I think they will, but only if we get a new manager.
Dbbia
I was going to ask you last week about it but decided to phone hospital. They told me to pop in and here I am…
Lennons passion
I never said that Deila’s being judged on his religious background
I for one know nothing of his religious persuasions
Le Guens religious background was well documented immediately on him taking up the role at Ibrox
What I am implying is that if Deila had hailed from an Celtic/Irish background the present criticisms of him would have been more mooted
Good evening all.
BT, how unlucky can you get? Hopefully you will get sorted properly now. Get well quickely kiddo. We are thinking of you at the ole ferm. :-)) KTF.
Weefra HH praying to Wee Oscar.
Sorry – I’ve been off the blog since yesterday – to all who helped me out on my bookie query – many thanks – the bookie payed out – no questions asked
BT-All the best. HH
Burghbhoy,
Aye; too many supporters doing the SMSM’s work for them. Sad lot. Getting more and more like the “we deserve better” mob; as has been said, if we were playing the undead on Thursday, they would be out in force.
grumpyyoungmhencsc.
jimmynotpaul
Sam Cooke? Not me sir :-)
Was talking to the wean before the game on Saturday.
Gearoid
Our most successful manager enjoyed 6 years at the club as a player that for me would qualify him as coming from a Celtic background
BT
sorry to read about your setback – hope everything goes alright tomorrow
HT
How you kiddo? See you thursday night. Interestingly, I have read a few posters on here who are desperate to stick the knife in to RD, personally, I am prepared to give him till january. If we are not top of the pile by then, statistically we won’t win the league. Decision time. Luv to ma bonnie lass. :-)) KTF.
Weefra HH praying to Wee Oscar.
burghbhoy
18:41 on 29 September, 2014
100% agree
Dallas Dallas where the heck is Dallas
Yes you are of course correct. Was there myself that day and the support was spectacular.
However and relating to the attendances we are achieving in recent seasons – I have spent today reading the new book and one thing that is remarkable about the eighties is the extent which our attendances could vary. We would regularly have attendances lower than last week’s League Cup tie against Hearts and even for notable games, for example when the league was won, we’d not get anywhere near the numbers we have become used to since the new stadium was built.
It would appear that even with this season’s lower number of season ticket holders, we are still punching above our weight in terms of attendances – as it has to be said are Sevco.
I also never realised that we only signed Judas because we failed in a bid to sign Davie Dodds!
Best of Luck Blantyre Tim, you are due some change in fortune with that damn injury. Hamilton Tim, Nobody could be convinced by Ronny at this stage. He did a lot of talking about the style and tempo of the way we would play and so far it has not happened, if anything our performances are getting more boring from week to week. Of course he must be given time and like all Celtic Supporters I always remain supremely confident that the next game will be the turning point. The question is how many “next games” before discontent turns to anger.
mickbhoy1888
18:14 on 29 September, 2014
Le Guens time at Ibrox was marked because of his religion
Dielas time at Celtic is marked because he doesn’t hail from a Celtic/Irish background and he is taking the playing side of the club backwards
mickybhoy1888
18:58 on 29 September, 2014
Lennons passion
I never said that Deila’s being judged on his religious background
I for one know nothing of his religious persuasions
Le Guens religious background was well documented immediately on him taking up the role at Ibrox
What I am implying is that if Deila had hailed from an Celtic/Irish background the present criticisms of him would have been more mooted
—–
Speaking as an Irish Catholic- that analysis is nonsense.
Firstly- frustration at RD is solely on the basis of the performances of him and the players to date
Secondly- the criticisms have hardly been mooted- whilst they haven’t been of the Barnes/Macari mould, we are, unfortunately, in a position where we will still win the league despite our mediocity. Had we any real opposition then the criticisms would have been louder.
Must be the drugs I’m on!!! Somebody mentioned Sam Cooke,a couple of days ago, or maybe I’m hallucinating.
Yes he told me. He was telling me about your issues for Dingwall. I’m going up again, managed to get a pass out!! Lol. More like I’ve been putting money by for it.
“Neil Lennon’s Celtic (2nd best manager after O’Neill)”
Up over the goal,
Lenny isny even the 2nd best in the last ten years imo;)