News that Hearts are set to go into administration today will give Scottish football has yet another morality lesson to consider, but this time, there will be no pleas for rule changes, no lobbying by the massed ranks of the media for other clubs to ‘do the right thing for Scottish football’, as opposed to the actual right thing. Hearts will face their fate with a straight bat.
This is an unusual football insolvency. Normally clubs go into administration when they cannot cut costs quickly enough to satisfy a creditor but on this occasion it was the way the club’s debt was structured which caused the problem.
While Celtic have long term loans with fixed repayment terms stretching years into the future, Hearts owed money to their own shareholders, most of which was repayable on demand (as almost all non-term loan bank borrowing is). If Hearts shareholder-creditors had issued loans instead of an overdraft, as long as the club continued to make repayments administration would not be on the table.
Ukio Bankas and UBIG, once both controlled by Vladimir Romanov now both insolvent, extended generous credit to the club without the formalities of an agreed repayment schedule. This informality led to their ultimate downfall.
I’ve read interesting views elsewhere that the absence of Rangers International from the SPL has claimed a further victim but there is no evidence to suggest that RI FC playing in the SPL would have sufficiently supported the Lithuanian property and investment market to prevent the collapse of the country’s banking system.
As far as we are concerned it is business as usual but there could be a crunch coming. All we can do is look after Celtic (principally by buying season tickets, never underestimate how important this is) and let nature take its course. If the crunch comes to Kilmarnock (I know, how would this be possible with a sharp kid like Michael Johnston in charge?), St Mirren, Motherwell and others, the game here needs to come up with something more radical than a unitary league body. Any ideas? I’ve one.
You can buy Willie Wallace’ autobiography below:
[calameo code=0003901713852289beccb lang=en page=12 hidelinks=1 width=100% height=500]
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Afternoon all.
Continuing to warm up – currently 31 degrees.
Want to go for a dip but not got time.
Hats off to BMCUW again!
Who needs Philvis?! Where is he btw?
HH!!
Bolger!
Mad Vlad wants BDO as administrator, i wonder why?
WEFRATHETIM
Aye,all that junk food seems to be doing them little harm height-wise.
Family are all magic,canny wait till September to see them all again.
Not that I have to-my 21yo nephew is coming down for a week in late July.
I have planned some daytrips to local areas of cultural import.
Should be fun….
TBB
I think Charlotte’s material blows out of the water any possible defence of the pretence that Craig Whyte had no involvement in Charles Green’s club, making a mockery, once again (as you suggest) of the way the Scottish football authorities have handled this.
However, it also puts that club’s ownership of the assets of Rangers in grave doubt.
The courts will presumably sort it all out, but for me this is the biggest thing so far.
!!Bada Bing!!
12:44
By the accounts I’ve read, BDO appear not to have done a bad job at Dunfermline.
Sevco re-sign Stevie Smith (useless left back), taxi for Lee shotgun Wallace.
Tin hat on time.
Hearts follow SEVCO and go bust, they will be forced to play youths and start next season with a 15 point penalty. This effectively leaves Dundee Utd and Hibs as our main challengers next season.
The title is already in the bag before a ball has been kicked.
This means the excitement, the uncertainty, the thrill of the chase or being chased will not be there. What a sorry state Scottish football is in.
I for one miss the SEVCO, the build up to the derby, the actual games, the aftermath of a victory, the sweet afterglow of giving them a gubbing.
I’ve renewed my expensive season book yet again (19 years on the bounce) but I’m doing this more out of love of the club than anything else.
I want SEVCO back as soon as possible and I want a strong Hearts too.
I want a strong league where the unexpected can happen, where we’ll be challenged, a league with some real excitement.
Ideally, we get out of the SPL but I fear the plc prefer the certainty of champs league play offs and the possibility of the champs league to Celtic playing in a league that excites the crowds.
celtic_first-you’re right,all these acronyms getting me mixed up :)
KK,
Like I said nothing to add to the discussion, Auldheid and I have been discussing different strategise for years, you on the other hand have offered nothing. You offer nothing window mite, you treat discussion like a pantomime, irrespective of any points I may have, you will always refuse to consider them simply because of who is delivering them look behind you csc
Good afternoon CQNers
I posted the below message last night, under a different moniker – was having difficulty logging in last night so made a new account, and sods law, my original details came to me this morning.
Anyway, long story short………
Evening folks,
Been reading back a few of the last articles and comments, and would like to drop a quick note to say thanks for your comments and support, very much appreciated.
Hope to see a few of you at Hamilton next month, and I think I’ll sit out from being the designated driver this time and enjoy a few drinks and participate in the craic.
I’ll also try to frequent the site more often. I miss starting pointless debates and leaving you all to argue it out whilst I sit back and chuckle to myself.
HH
Chris1888
benjybhoy mul
My tip for the new season is that Aberdeen finally start to show progress and roots of recovery.
Dundee United and Hibs will be ok and I think that Motherwell and St Johnstone have sufficient squads to do reasonably well.
The two Highland teams are well run and can cause bother on their day – the real problem comes with their lack of fans.
Hearts should they survive (and I think there is more chance of them getting by than Sevco) still have a large support and they’ll come out to show defiance for the early part of the season.
If however they or Kilmarnock or the others go bust it’s their fault and that is all there is to it.
benjybhoy mul
12:47 on 18 June, 2013
How can you miss SEVCO when you’ve never had them?
Away and give yourself a shake
canamalar1
12:48 on 18 June, 2013
…………… You offer nothing window mite, you treat discussion like a pantomime, irrespective of any points I may have, ………….
__________
OH NO, I DON’T !!
:¬)))
Good Luck.
benjybhoy mul
You want Sevco back even though the SFA have thrown the rule book oot the windae to keep them alive, you want Sevco back even though they haven’t changed one iota, still spending way beyond their means, you want Sevco back so they can pollute the top division once more with their cheating zombie arrogance.
What about a league free from cheats where teams who are well run will eventually catch up with us, your Utd’s, Aberdeen and Hibs??
How about that as a forward thinking solution instead of looking back the way to the derby game as being the be all and end all of Scottish football, it was a big game for sure, one of the biggest in the world but should we absolve these cheats just to salve our need to have the derby game back again..
Not for this Tim..
The Battered Bunnet
The money owed to MIH by Whyte’s Rangers is likely to be rental for the car park, a total of £278K being owed to MIH at the time of the Admins being appointed.
Do you know that for a fact?
None of us know anything for fact. The only ones that know the facts are keeping it to themselves and being protected in doing just that, or so it seems.
I remember when everybody was back-slapping each other when we had the Dougie – Dougie, fiasco. I remember exchanging e-mails with Auldheid away back then and saying nothing had been won by getting rid of Dougie. (does anybody remember what exactly happened for him to be shown the door – it wasn’t internet bampots that caused it). All the singing and dancing when Dallas followed, his e-mail was laughed off at the time and the internet bampot brigade seeking to farewell him was not a multi-cultural one either. Does anybody remember who nailed the coffin lid down on Dallas and look where he is now.
I remember way back then saying that until Campbell Ogilvie and his cabal were shown the same the same door as the above two, then we had nothing to celebrate.
Since then look at what has happened to the Rangers – old or new. How many of their players escaped the review panel? How many of their players were refereed fairly? How often were the new Rangers boardroom allowed to bring the game into disrepute with impunity? How much of the 5 way agreement did the new Rangers honour? How many times have we had independent investigations resulting in the huns gaining a favourable result? How much public money was invested in trying to fast-track the huns back to the top flight? How many rules were broken, or at least bent, to accommodate the huns? How many times have the hum support broke the law with their sectarian singing and chanting and how many times have they been cited for it?
Auldheid is a gem and I admire his tenacity, but to my mind now, just as it was way back when we exchanged e-mails – he is pissing in the wind. The SFA have already told you they gave the Rangers their European licence within the rules as they interpreted them, it seems highly unlikely that they will ever do a ‘u’ turn on that.
I screamed for us to get organised two years ago, I did it on here and I did it in private e-mails; but to date, all we do is talk and post well articulated posts – citing the SFA rules that when taken to task the SFA refute with “not the way we see it”.
Player registration and side letters?
We’ve been talking for two years now, there have been untold hundreds of posts about the issues; there have been thousands upon thousands of e-mails about the issues, there have been calls for boycotts of games and sponsors and still all we are doing is talking.
We post well and we talk grander and still Campbell Ogilvie is in a job that he is bastardising, him and all his cabal too.
There does come a time when the talking has to stop and organised action has to be agreed; either that or we can just bleat about our woes, argue amongst ourselves, or spend the next two years formulating the bestus post ever as to why Campbell Ogilvie, and all the rest, shouldn’t be in the job. We can quote all the rules to our own hearts content, in despair we can highlight every breach of the rules that we perceive, but mate, at the end of it… Campbell Ogilvie will still be in the job and still getting his all expenses paid trips to the likes of Mauritius and Charlotte might still be having her revelations ignored and if you listen really closely…
shh!
listen!…
do you know what that was?
That is what inaction sounded like then, like it sounds now, and like it will sound in the future.
I hope Aulheid’s efforts are rewarded, I doubt they ever will; that is unless everybody else is prepared to make an effort; and I mean everybody else, including those who presently reside in the comfy seats in Celtic’s panelled room.
I hope in two years time, if the huns do make it back to the SPL, we don’t have the son of Dallas refereeing our games and the same SFA incumbents pontificating how we just don’t understand what the rules actually mean.
I know what the rules mean, my dad taught me what the rules mean, his dad taught him what the rules mean… the rules dictate lie down croppie for you are not the people.
You can accept that or you can get off yer effin’ knees, stop bleating, stop celebrating, stop finger pointing, and actually organise to do something. Something for the good of all including all the croppies that didn’t have the strength or support to stand up and who never knew the pride of being equal.
benjybhoy mul
12:47
I agree with Snake. We all loved gubbing the deady bears, but they are gone. It’s not our fault.
And yes, it would be good to have strong, well supported clubs with good teams in the country’s top league. But at any cost, including turning a blind eye to cheating? Surely not.
“there is no evidence to suggest that RI FC playing in the SPL would have sufficiently supported the Lithuanian property and investment market to prevent the collapse of the country’s banking system”
Wrong Paul – obviously you don’t listen to people in-the-know, like the sports journalist of the year.
Division One Dunfermline would also have managed to avoid administration.
And look at Portsmouth.
And the Greek crisis.
All because a bunch of idiot chairmen voted Rangers out of the league.
Any ideas when O.G Rafferty’s news will be out in open ?
benjybhoy….football is safe now…..have you ever been wacked with a bottle after a game against the monkeys?…..just make do with gubbing them in the cups..
Stan Le Man @RFCSwitcheroo 2m
LOL “@STVkeith STV News understands Nacho Novo is to hold talks with ambitious Second Division East Fife this week. http://bit.ly/15fDaUp
Sell Efe & sign Mongongu & Van Dijk with the money? Too good to be true……….
Celtic were last night pursuing a £2million deal for Congolese central defender Cedric Mongongu.
The 23-year-old – 24 on Sunday – was watched by manager Neil Lennon in Evian’s French Cup Final defeat to Bordeaux last month.
And it’s understood the six foot two former Monaco player has leapfrogged Dutch defender Virgil van Dijk on the club’s priority list after catching the eye of the Parkhead boss.
Cedric Mongongu
Target: Congolese defender Cedric Mongongu (right) has attracted interest from Celtic
Norwegian Thomas Rogne and Israeli loan signing Rami Gershon have already quit the club.
And reports in Holland suggest the SPL champions have submitted a £1.8million bid for 21-year-old defender van Dijk.
Virgil van Dijk
Not interested: Celtic have played down reports linking them with a move for Groningen’s Virgil van Dijk
Last night, however, Celtic sources played down their interest in the £3.5million rated Groningen star.
Fresh from securing the capture of Portuguese striker Amido Balde the second major deal of the close season is expected to be Mongongu, who grew up in France, but opted to play international football for Congo, winning ten caps.
Parkhead defender Efe Ambrose, meanwhile, is a £4million target for Besiktas. The Turkish giants placed the Nigerian under scrutiny during the Confederations Cup triumph over Tahiti.
Benjbhoy,
Fair enought and well done for having the balls to say it, I disagree and want the Scottish game to improve through honest endeavour not favouritism, I expect a few years of famine because of the current situation but I truely believe the game will improve far better with honesty equality and governance than what has went before, the current situation is a result of your wishes IMO keeping them alive will ruin the game completely, letting them die is the perfect example to everyone involved what happens when cheats are allowed free reign
C_F
We have known for some considerable time that Green was originally put forward to front Whyte’s bid to get the club back.
We also know that Green pulled a fast one on Whyte, cutting him out of the Sevco Scotland deal completely.
Charlotte hasn’t presented anything new to that beyond shedding a little more light on the first part.
The matter of legal consequences will be determined by the courts if it gets that far, but as we recognise, RIFC plc has no confidence that it actually owns ‘Rangers’ and the associated assets, a profound issue for a plc. If Whyte has the necessary evidence (and we haven’t seen it yet) chances are it will be settled out of court as the consequences of an adverse decision are catastrophic for RIFC.
The matter of the SFA membership and Whyte’s association with Sevco Scotland seems quite clear now – Whyte had/has no interest in Sevco Scotland beyond the small matter above. Had 5088 been admitted as SFA member that story would be entirely different, but it is quite clear that Whyte has played no part in Sevco Scotland (he was deliberately excluded by Green’s switcheroo), and the SFA will satisfy themselves on that fairly easily.
yo the twists and turns in this evil masonic sevco conspiracy have tired me to the point where i didnt really keep an eye on stuff for a while. i just checked that etims podcast that LIONROARS67 recommended earlier and its a pretty good summary of the fakeovers stuff. you have to just laugh. check it out:
http://www.spreaker.com/user/4647859/podcast_16_transfers_dejavu_charlotte
from 55 minutes on.
Tallybhoy / South of Tunis,
going to Figline Valdarno 30 ks south of Florence (Chianti region), hiring car for week in Aug, youngsters 4 & 5 , never been to Italia before , grateful for any advice on where to go or where not? San Gimangano, Sienna, florence ?
HH
Bbhoy
A Stor Mo Chroi 12:57
How much of the 5 way agreement did the new Rangers honour?
Well they didn’t pay the full amount for Lee Wallace for a start. But I guess the SFA are happy to see one of their member clubs go into administration just so their favoured one can benefit…..
BMCUW
Glad all is well and good that your nephew is visiting which will keep you updated with goins on up here. Looking forward to a possible meet in the new season. I am easy enough to find (always close to Brother Walfrid statue ) Right off to get ready and will speak later.
Weefra HH
Paul67
There was a young Spanish boy on Crimewatch Roadshow this morning who has gradually lost his sight since he was 12. He had a special lap top that allowed him to communicate with his family back in Spain that was until some lowlife stole it from his house. It will cost £600 to replace it. How can I set up a donation page on CQN or get a donation from the Celtic Charity fund?
benjybhoy
Any team that plays within the rules, both on and off the park, is welcome to take us on. Any team that doesn’t, should be punished and take their oil. Thats why we are not playing Sevco and are unlikely to do so for a while. Engineering a “strong League” by misdeeds, lying, cheating and financial doping is not acceptable.
Marti
BT
If your lurking, how you today? More progress I hope. :)
Weefra Hh
CHRIS1888
Welcome back,mate-your unique qualities have been much-missed,except on the Moonhowler shifts…….
Paul 67
” Any ideas? I’ve one”
It would not be on the lines of the attached by TBB?
http://glasnostandapairofstrikers.wordpress.com/2012/10/12/box-seat-or-back-seat-scottish-footballs-staging-post/
The only way is Essex? n Sussex, n Yorkshire n Northumbria etc.
with Green’s RIfc missing I do believe they would have saved Hertz as their new following would have forked out £7000 for a ticket at whinecaslte and saved their brothers.
anyway give the hertz fans more to cry about which they love doing.
benjybhoy mul
I’ll be honest with you-I miss much of what you referred to as well.
However,I would not have them back at any price. As drug cheats are not welcome in sport,neither are any other type of cheats.
When they do return,I will honestly refuse to watch our games against them.
They are dead,I want them to stay that way,but most of all…..
Huns were and still are – terminally delusional about their place in the fitba world.
DebtfreeCSC
benjybhoy mul
I’ll be honest with you-I miss much of what you referred to as well.
However,I would not have them back at any price. As drug cheats are not welcome in sport,neither are any other type of cheats.
When they do return,I will honestly refuse to watch our games against them.
They are dead,I want them to stay that way,but most of all…..
THEY ARE DEAD TO ME!!!!!
K33- the report didn’t say NL called Balde a “silly season story” 3 days before we signed him.Van dijk looks interesting.