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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If the Huns were in the top division RD wouldn’t be our manager.
weefrathetim
Evening wee man :-)
Big difference between having the knives out and actually wanting him to fail. I haven’t read or spoken to anyone who wishes his failure.
Like many I’m just deeply concerned at tactics, team selection and formations.
Apparently that means I’m doing the MSM’s work for them because I’m expressing my worries.
A ridiculous suggestion.
Up_over_goal
Sorry mate but that’s twice now you have misrepresented what I said.
Firstly you accuse me of being self congratulatory in my support then of preaching to others on how to support Celtic.
Both could not be further from the truth.
What annoys me are supporters who are quick to bellow ‘ we’re the best supporters in the world ‘ whilst en route to Seville or a Cup final but then disappear like ‘ snaw of a dyke’ when we have a few poor performances.
We are behaving like the old Hun , that’s their raison d’être amongst other things
Surely none of us are convinced with Ronnie’s start.but some of us are hanging on. I think back to wgs how bad a start was that.tm got an away result in Russia and I thought this guy knows what he’s doing.it does seem some would relish rd not being a success. Some people even saying they don’t want the players to be as fit as they can be.they,re getting paid a fortune
I see the the Le Guen lynchmob has it in for Ronny Deila. I’ll give him another 6 months.
The festering gangerinous ulcer is due to return to Paradise next season, much to the dismay of the lavvies. Watch for more references to “Old Firm” as the season progresses. The BBC, Sky and others are experiencing swelling in the nether regions at the chance one more to report on the “sectarian divide”.
Just another chance to maintain the negative bubble over Hootsmon and keep the sweaty socks in their place at the back of the bus, detracting from them having aspirations into casting off their corrupt Westminster yoke and declaring themselves to be a positive, progressive modern nation.
Why CQN even giving Jackson’s poisonous scribblings the light of day?
Good evening friends.
Last midweek, Hibs knocked out Premiership opponents in the League Cup winning away from home. To get their 2nd away win in a row they are priced at 7/1. I’ve doubled them with Stoke to win at home to Newcastle. Just for an interest, you understand
jimmynotpaul
Yep haven’t decided which bus I’ll go on to Dingwall but it’ll probably be Cumbernauld bus so we’ll hopefully get a catch up then.
Hope you’re keeping well.
Neil Lennon was appointed in June 2010.
In my opinion, his team never really clicked into place until Rennes at home Nov 2011. Thats when his team started to turn the corner.
There is no doubt in my mind Neils Celtic background bought a lot of patience from the fans.
Its the fans that change managers, not the board.
winning captains
Davie Dodds …a fine player…but..whit aboot the team photo?
notagoodlookinjoeorahandsomedan c.s.c (brucie baby)
Dexter
As far as I remember it wasn’t till at least December that Barnes then Mowbray started to get the treatment.
And it’s ‘muted’ not ‘mooted’
Mickbhoy1888@19.01
I took that as read. I was even going to post “doc I am aware that Jock Stein played and captained Celtic before managing them” because Doc had mentioned an exaggeration I had utilised on yesterday’s blog I.e “the next time we play them WILL be the FIRST”‘but I thought nobody would be that pedantic re your point.
Wrong again I suppose, people can be pedantic. Point I was making ( but I’m sure you know that anyway) was about Jock Steins religious background and the fact that no Celtic supporters gave a toss about his religious affiliation.
For the avoidance of doubt my emphasis was the same as Lennons passion but I did wonder whether being from a Celtic/Irish background would buy him more time. That was just me sitting here thinking like Charlie Nick.
Something was drawn to my attention in work today. In May 2014 the Scottish Conservative and Unionist Party published a manifesto for the future governance of Scotland. One of the co-authors of the manifesto is a certain Tom Allison who is credited on the manifesto as being “chairman of Peel Ports and a director of Celtic FC.”
Why are the Green Brigade told to keep politics out of football yet our board see fit to link their politics to our football club?
If our directors wish to undertake political activities that is their free choice, but they should not be dragging the name of our club into it. We are said to be a club open to all, I start to wonder about that when support for food bank collections at the stadium is suddenly withdrawn. Wouldn’t be because it’s too political for some of the Tories on our board to thole now, would it?
I hope the level of tabloidesque negativity on here about our manager does not translate into a self fulfilling prophesy.
The guy is playing with a squad which is starting to get to know each other. 5 games into the post window period he has won 3 and drawn 2 games in that time.
When did we ever play silky football and win every spl game ?
When did we ever have a manager win right from the start and go on to be a great success ? Mostly they don’t.
He is trying as many players to understand their potential and capability in match situations.
My sense is the ‘he will no do’ brigade who know f all about football but sit and pontificate around our stadium usually uttering the words of mark guidi or his ilk will hound this guy into being a flop rather than give him the support which might just help him succeed.
I sincerely hope that those of us who go on Thursday support team and coach and actually be the extra man and help rather than be the liability which our crowd can be at home games. 20000 supporters is better than 45000 consumers in helping the team.
Anyone who has ever played the game knows that getting abused by less well informed onlookers does not help you play better strangely enough. But getting encouraged does help weirdly.
Hopefully all those eager to say I told you he was a dud can do us a favour and put you desire to prove yourself right to the side and support your team on Thursday rather than detract from their chances.
Now is the time when the team needs your support. Help generate a positive atmosphere a d give this guy and his team a chance is my simple plea.
H.T.
Will look forward to that. Did Paddy tell you about his student season discount. His seat costs 580 and past 3 years he received an eighty eight pounds discount. At the end of the week he went in to claim it and they gave him 290 pounds discount,being the boy he is he told them that wasn’t correct. He was told Celtic have changed rules and he was due the refund. I think that’s brilliant. You will not be surprised to know that he gave me a hundred pounds of it. What a bhoy!!! Most of it spent on the 4 year old at the next sale on Sat.
Living_in_the_Love_of_the_Commons_People
‘Gangrenous’, Love.
Burnley 78
Well said
Tax evasion estimated at around £35 billion so lets screw the poor even more.
Makes great sense (if you’re an Etonian, Tory f#@kwit)
winning captains
19:06 on
29 September, 2014
Dallas Dallas where the heck is Dallas
I also never realised that we only signed Judas because we failed in a bid to sign Davie Dodds!
*looking back might have been better off signing Joseph Merrick……I’ve been led to believe that the wee trackie seller walked out of negotiations with us 5 times……..and big Billy really didnae want him.
Football matters?
Inauspicious start, must try harder but more time required…
jimmynotpaul
You won’t be surprised to know that he didn’t mention a word of that, he’s too humble to blow his own trumpet as well you know.
An old saying, ‘he didnae lick it aff the grun!’
Take credit for the man he’s become.
Davie Hay signed Judas.
Allgreen
19:10 on
29 September, 2014
I would agree with that.
RD has a season to get things on track, it’s up to him.
I was all for his appointment, still am, tho must admit, he does seem to making schoolboy mistakes, but IMO he will come good, he is learning on the job, same as Lenny did.
He is seriously hampered by the signing policy, so he will just have to make do.
What will be will be.
HH
” I hope we have a strong (wink wink) referee ”
Alan Stubbs
BT
Get well soon mate,
That’s going to be some NHS bill well be giving you,
Or do the charges start next year?
HH
BT
That’s some tie your wearing on facebook bud,
Your masks slipped and it ain’t pretty.
Minx on the other hand is stunning as usual
Second part for HT….. New phone!
Thanks H.T.
Very kind comments.
I’m away to try and get the 4 year old to bed now.
Take care everyone.
Che
Me, tie? And don’t tell HT it was me…o))
One thing that I really, really cannot understand is booing a Player in a Celtic shirt. As someone remarked on the blog the other evening he had never known a player to play better after being booed. Well said that mhan.
Some people need to revisit the early/mid 90s to experience despair but even then we knew we would wake up in the morning as handsome Tim’s and that took some of the pain away.
Can’t make Thursday but will be there on Sunday so any chance of meeting some of these fabled CQNers.
Taking a group of kids and on the basis of some of the stuff appearing on the blog social services should be chapping on my door as it probably contravenes some human rights/children’s legislation.
Don’t know about Davie Dodds but I think we’d have won the European cup if we’d signed Narey & Hegarty in that era.
Fritz song Barnes was terrible from the start.
Is Ronnie any better well I hope so but I do not hold out much hope for Thursday. In the league I feel we could turned over by Utd, Hamilton or Aberdeen. In fact anyone.
I hope he can get the players gelling we miss Lustig, forest and mattews. We now have striker who can score that helps.
As for the fitness regime we need to be fitter end of story. Chris Sutton mentioned John harts on liking chips and look how many goals he scored. Well mabbe if he had eaten well and boozed less he would have scored more goals .
Ronnie does not inspire me to go to celtic park and sing my lungs out backing the team he needs to show some passion and get his team showing some aggression.
Will go on Thursday will take on a lot of Dutch courage and hope for the best
It is one thing to profer opinions about any aspect of our Club. It is quite another to give those opinions in such a manner that they come over as being infallible.In the same way as booing our team at half time/full time is unlikely to help, so is constant criticism likely to be a self-fulfilling prophecy. The likely crowd size on Thursday being an example of the latter.
Is there a single person on here who genuinely believes he knows more about managing a professional football club than Ronny Deila does? Could evidence be offered to support your claim?
JJ
JJ
BT
You wouldn’t be wearing that tie mate…
`proffer`. Where the F did the F go!
Gearoid, if you are still about.
Sorry I never replied to your post about the late Tommy Reilly last night.
A friend of mine who lived in Belfast at the time of Tommy’s death told me Siobhan Fahey had to be restrained by fellow mourners after having a go at the army & Ruc present. She was saying Tommy’s death was of the non-accidental nature.
Just after Bananarama came to public attention with songs with the Fun Boy Free, she listed her top ten tunes for the Smash Hits magazine. She included a Wolfetones track in it.
DLLLWWLWLLLLLLWLLDDLD
Alan Pardew
archdeaconsbench
19:37 on
29 September, 2014
Davie Hay signed Judas.
*and it was big Billy that Roy Aitken convinced to bring him back….right now there’s a concern that the Thumb’s lifestyle might be the reason for his not playing…..no different than jo monson or maccas…..IMHO.both should NEVER have donned the hoops.
Don’t want either stoke or newcastle to win -can both not lose
onevalefanCSC
Blantyre, contact Delaney’s and he might bring a red cross parcel from the Horse & Barge for you.
I hope things goes for well and they can finally get your leg sorted. You have been through a lot.