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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Will be on holiday for the opener of the new season but a wee sunny, summer trip to Pittodrie will make up for it!!!
Great to have the new year glasgow derby back…….
Twists
The Doc knew fek all,I drank more than that and I’m fine and dandy.:O)
Surely those 16 banning orders for Rangers are Millwall or Chelsea fans trying to help a new club out.
BHRT,
Sound checks in an empty stadium have reverberation issues, reverb masks problems with delayed transmission.
Twists n turns
Your story reminds me that Gps in Glasgow use a formula for those questions. Asked how much you smoke they double it, drink alcohol they treble it, how much you have sex they half it. (Don’t know what half of zero is though)
.
Tiny Tim..
I went to Both they Clubs the same Years you did.. We ran a Bus every week for Year we went all over the Place..
btw .. I Guy in the Sub Club asked I he could take a Photo of Me.. I thought he was Slate Aff the Roof.. :-(
The Next Friday l got All these calls in London.. Same thing I was for a Article about The Sub Club in The Face.. 90′ Ha Ha
Summa
Tim Tanium:
Unfortunately the home office document – STATISTICS ON FOOTBALL-RELATED ARRESTS & BANNING ORDERS – SEASON 2011-12 – does not make clear whether they are talking about oldco or newco or both co’s.
I wonder how many FBO’s Celtic supporters will have kopped for since 9th November last year; bearing in mind up until then – since the introduction of FBO’s – we had amassed 8. If the figure since then is more than 8, one might be able to argue that there is something strange or sinister going on.
BRTH
Having been at Hampden the last time Springsteen played I decided to give it a miss this time. I was standing on the pitch and the sound seemed to be bouncing back of the huge South Stand, meaning I would hear everything as it happened and then again two seconds later.
Join the Flag Day celebrations at Paradise
By: Newsroom Staff on 19 Jun, 2013 09:11
FLAG Day at Paradise is always a special occasion as the Celtic family gathers to celebrate another title triumph.
Neil Lennon´s side made it two-in-a-row last season as they secured the SPL title, and they capped off a special 125th anniversary season with a Scottish Cup triumph at Hampden.
Now the Bhoys are ready to go again in a bid for a third consecutive league title, and that campaign kicks off with a home match against Ross County on Saturday, August 3 (All fixtures subject to change).
Before the Champions face the Highland side, looking to secure three points, there will be a special ceremony when the league flag is raised at Celtic Park.
It will be a day of celebration and one not to be missed. And you can ensure that you´re there for Flag Day at Paradise and throughout the 2013/14 by securing you season ticket now.
The club is saying thank you to every Celtic supporter for their incredible backing by sharing in the success of last season and offering a range of pricing incentives to reward that support.
Adults can secure a £100 reward on the purchase of all new, full-priced 2013/14 Season Tickets. This ensures that seats at Celtic Park are available for as little as £17.43 per game* for adults and a raft of new pricing for kids ensures that we’re making Paradise as accessible as possible for all the family.
Kids’ under-13s’ Season Tickets are once again available for just £50, only 2.38 per game, meaning that an adult and two kids under 13 can come to matches as a family next season for the equivalent cost of £22.19 per game.
There are further incentives for 13-16 year olds and 17-18 year olds too with Season Tickets available for £105, £5 per match and £186, just £8.86 per match respectively.
Secure your seat for all of the 2013/14 action now and ensure Celtic Park is once again the only place to see the Champions next season.
vogue
“………………….I’m fine and dandy.:O)”
I would like a second opinion on that:-)
Tim Tanium
haha…made me laugh…probably because it is reflects the truth!
Tiny Tim @ 8 45 .
Bentleys / Jackie O
Never -but do remember going to see John Mayall’s Bluesbreakers at the YMCA [ early 68]. Bog standard straightforward blues , but , afterwards , me and my wee crew went to a mighty fine party in downtown Thornton.
Strong debate via twitter with the lamb eater below Martin WIlliams he now says Rangers exist lol but here’s his artice below and he says he didn’t write it all lol.
Do you know what gives me great pleasure in them dying ? knowing that the media in this country are a disgrace and have never looked good in all of this shenanigans.
Not 1 of them have an ounce of decency and balls.
Home > News > Home News
Rangers Football Club Born 1872, died 2012
Published on 13 June 2012
Martin Williams
FORMER Rangers chairman Sir David Murray and current owner Craig Whyte face investigation into the financial meltdown that led to the club’s demise.
The development came as the taxman rejected a company voluntary arrangement (CVA), meaning the club will go into liquidation within the next few days.
HM Revenue and Customs (HMRC) which was offered just £1.9 million of a debt perceived by the administrators to run to £21m initially, says placing the club in the hands of the liquidators will spark off a detailed independent investigation into the financial affairs of Rangers over the past two decades.
Went to see the Boss last night…..BRILLIANT!!!!!!
.
estadio nacional
08:28 on 19 June, 2013
Great to see Tom Rogic and Oztralia qualify for the world cup, a big year ahead for him.
Question is can the manager accommodate him in the team, or more likely does the manager have the guts to play a creative central midfielder? Hope so.
HeLooksLikeRiquelemeHeCouldBeTheNextRiquelmeCSC
..
Tom Bhoy Looks a Class act..
The Bhoys Of Brazil are on there Way and we Stop in Dubai on Route.Ha
Summa of SambaCSC
Morning All from a hot and humid Germany. Had a pleasant surprise yesterday, saw someone else for the first time in my small town wearing the hoops. Went over to him and congratulated on his taste in football. Turns out he “watches Scottish football closely and particularly Celtic.” Who says the Bundesliga is where it’s at?
The Boss last night was awesome. Legs killing me this morning.
Starry Plough Mars Bar great pub, my sister worked behind the bar my mates brother owned it so I was a regular every Saturday mate our paths may have crossed.
Does anyone remember The Dial Inn and a band called Sneeky Pete great band.
Blantyretim. I was thinking of going to Lions night with my family between 5 and 7 of us if you want to join mate no problem.
KTF
HH
We are guaranteed to start at home yet 6 of our first ten are away, wtf?
WG,
There are European considerations remember, wouldn’t do to help Celtic get richer
WG
You will be in Kendal
Love
Just phoned Partick Thistle , tickets for away fans will be distributed via in our case Celtic , no direct sale to away fans planned at this time .
Not far from home so would like to get to these games , don’t usually go to away games.
mighty tim
09:48 on 19 June, 2013
The Boss last night was awesome. Legs killing me this morning.
Starry Plough Mars Bar great pub, my sister worked behind the bar my mates brother owned it so I was a regular every Saturday mate our paths may have crossed.
Does anyone remember The Dial Inn and a band called Sneeky Pete great band.
Blantyretim. I was thinking of going to Lions night with my family between 5 and 7 of us if you want to join mate no problem.
KTF
HH
………….,.,.
Sure Sneaky Pete used to play a gig on a Saturday afternoon in the the middle of town.
Went a few.times if no game on. Back in 75. Used to also frequent Joanna’s on a Monday night.
Wigan Casino
It had a better atmosphere than the Jungle.
TT
tommysbhoy
23:52 on 18 June, 2013
Jj booths loved that place ..forgot about it till it was mentioned earlier…burrell hotel(rip) irish nights were ran by Manus O’Donell(rip) my bruv ran the stuard co.for him till he toasted mcNees (allegedly)he had a bitter ending ..loved that pub..owned partly by my friend vinnie vallentini and john doran a good gorbals mhan..was on my way to work the morn it was up in flames poor vinni was gutted as the new extended lounge was days away from opening
both vinny and JD are mates of mine, john was long gone before the fire,the extension was to the pool room and the fire was started by light fitting transformer on the rock wool in the loft space….drink in mcnees man and bhoy, my dad was the charge hand when Mario gizzi had it and my wife worked there for 10 years as did my old uncle harry.
Cheers mighty tim, you need a wee loan of my crutches?
Re Rangers banning orders for 2011-12. Where they followers of the club or the holding company?
tooheys new
10:07 on 19 June, 2013
Neither , the were Chelsea supporters
in disguise :-))))
Off oot..
Wee Britney today in the Herald sets a few records straight:
http://www.heraldscotland.com/sport/football/spiers-on-sport-rangers-new-club-or-old-and-the-bbc.1371631860
In summary, on the ole Old Club/New Club malarkey, Spiers quotes the recent RIFC Chief Executive, the current RIFC Director of Communications, the current RIFC Chairman, a former RFC club captain, and the Herald’s own Chief Football Writer in support of his own view that…
… RIFC is a new club.
I imagine he’ll be getting fewer Christmas cards this year.
googybhoy They did indeed it was the dial inn across from the odeon. They also did a Tuesday night. Great band they were due to go on tour with the Sensational Alex Harvey Band when Alex sadly died. They then moved to a place cannot remember the name maybe the horseshoe in Bothwell. I think they broke up not long after, shame.
KTF
HH
BT yep could do with the crutches mate canny dance for 3 and half hours anymore lol.
Just bought 7 tickets for the Lions night there not many left guys if you fancy going.
KTF
HH
Canamalar1, regarding your post at 18.43 and my response at 20.03, add me to your list of 100.
You will have mail from me shortly.
Hail Hail
Bruce Sringsteen
We were lucky enough to be right in front of the stage last night and the sound was good.
I’ve been in the seated section before at concerts there and it’s terrible.
It was my first time seeing him and his band in concert as I was never really into him and last night’s setlist I only knew about a dozen songs, if that.
But it was an absolute treat to watch him perform and the songs I didn’t know I could listen to again very easily. Murder Incorporated I’ve been listening to this morning.
The thing that had me mesmerized was the way he was interacting with the crowd.
I’ve never witnessed anything like it.
He brought a young kid up on stage and got him to sing.
He brought two middle aged women up and danced with them.
He brought the young woman out to dance with Jake Clemons and then proceeded to give her a guitar and join the band in playing the song!
He would point out young ladies perched on boyfriends shoulders and the camera would be on them the image of which was seen on the giant screens.
But best of all was the way he picks out song requests from the crowd and plays them ad hoc. Seemingly this is something he does at all his concerts. The band has to on their toes to play the song he picks.
One of the songs picked was requested on a cardboard display from a girl with ”For My Dad Shug” and his birth and death dates on it.
Like everyone else who was there, my body aches this morning.
Thank goodness I decided not to have any booze.
A fantastic night!
~SPF~
We were in the South Stand last night for the Bruce gig and the sound was fine. I never expect much in terms of sound quality from an outdoor concert (or one in the SECC) and was pleasantly surprised last night that it was as good as it was. Obvious delay between the pictures on the screen and the speakers but otherwise okay in the circumstances.
The concert was just brilliant. From the fantastic silence for Clarance Clemons and Danny Federici, through 10th Avenue Freezeout with the photos, Badlands, to the fantastic accoustic Thunder Road played to an almost silent crowd.
It was my daughter’s first Bruce concert and she was out on her feet after 2 1/2 hours but had a great time. How he does that at 63 is amazing. As was Jake Clemons.
What a night
ParkheadcumSalford
Re Tom Rogic , I agree he has the skills but he does seem to be a bit slow. Hopefully, with the right coaching/training he can speed up a bit.
Tiny Tim 08.45
I attended Bentley’s opening night in 1980 I think it was. Good night club but didn’t seem to last all that long before it was razed to the ground.
tooheys new
10:07 on 19 June, 2013
Re Rangers banning orders for 2011-12. Where they followers of the club or the holding company?
……….,…,
All were for the club except one.
There was a company banning order for someone called Craig White.
BRTH,
Hopefully you had a look at my plan of action posted last night. Any advice will be appreciated, I have already had positive feedback from a few shareholders.
I will be posting a resolution over the next couple of days which will be open to all on here to comment, I will accept any constructive criticism and hopeful between us we can develop and refine the resolution that will raise our concerns and gather popular support and the backing required to have it aired at the next AGM.
There will be no surprises, what is agreed on here with the shareholding backers will be exactly what is submitted as required when people sign up.
To all you shareholders, don’t be lazy here, expecting others will sign up and it will be over subscribed that’s how to fail. Oh and if there is a problem with backing me personally, I have zero issues stepping aside and letting a more popular character take the lead once the ball is rolling. Try and keep personalities out of it, but if you can’t, we can overcome that.
Hail Hail