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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CREWE Alex have confirmed their pre-season
schedule will include a friendly with Scottish
giants Glasgow Celtic.
The Railwaymen have pencilled in a practice
game with Neil Lennon’s champions at their
Lennoxtown training complex.
The match, at the end of this month, will be
behind closed doors.
As well as giving Crewe an extra-early run
out, the game is designed to help Celtic
prepare for their qualifying match for the UEFA
Champions League.
Boss Steve Davis is also
hoping the meeting with
Lennon, a former Alex star
who played for the club
between 1990-96, will be
the start of a strong
relationship between the
clubs.
He said: “We have secured
a practice game against
Celtic at their training
ground and that will be a
great day for us and a
great experience for the players.
“Neil has done a fantastic job up there.
“They narrowly missed out on a treble and had
a great run in the Champions League so it will
be a great experience for our players to face
players of that calibre.
“It will also be nice to catch up with Neil. He
came to a couple of our games last season
but I never really had a chance to have a chat
with him, so I’m looking forward to that.
“I’ve always tried to forge links with top clubs
because they can help us out with loan
players.
“The ones we got in from Premier League
clubs did really well for us last season.”
Canamalar1, I sent email to your name @hotmail.com and @yahoo.com and both bounced back.
Can you mail me at acgr@hotmail.co.uk and I’ll resend via a reply.
canamalar1
Do you have a contact e-mail address ?
twists n turns. KF is very bullish about Waila in The Ribblesdale tomorrow.
Currently 12/1 with Bet Victor and Hills.
Definite ew value.
Summa
1981/82
Bentleys Kirkcaldy.
Mrs TT say to me.
Charlie Nicholas is in here.
I say , aye right .
Where about?
Top bar beside the restaurant.
How do you know it’s him?
Because of his hairstyle.
I laugh and mock her.
Everybody in here had that hairstyle, even the lassies.
We then circle the room , and there is Champagne Charlie with Danny Crainie and Willie McStay.
Charlie with espadrilles , no socks,leather troosers,Jersey tucked into his leather troosers.Chunky gold belcher neck chain hanging outside his jersey, and that hairstyle .
See ah told ya she say’s.
TT
Googybhoy & mighty Tim
Re: Sneaky Pete in the Dial Inn – remember it well, used to go to see them regularly, great wee band, remember a song called ‘Cosa Nostra’. No Horseshoe Bar in Bothwell mate, could have been the one in Hamilton though.
Thoroughly enjoyed everyone’s reminiscing about the old haunts of the late 70’s/early 80’s, City Limits, Rock Garden, Mars Bar etc., used to frequent them all myself, but was unaware at the time that so many fellow Tims were also in there! Just shows what good taste we all have!
Also laughed at the fond memories of The Apollo, seen all sorts of bands in there – Supertramp, Yes, Genesis (post Gabriel), Peter Gabriel (1st solo tour), Cher & Greg Allman, The Who, Status Quo, Deep Purple, Lynyrd Skynyrd, Peter Frampton, The Jam, The Buzzcocks, The Stiff Tour (ElvisCostello, Ian Dury, Nick Lowe, Wreckless Eric etc,), Devo, all come to mind, but also seen some great gigs at the Student Unions. Can remember seeing The Damned, The Ramones, & The Only Ones at The Q.M., O.M.D., and Altered Images at Glesga Tech, Blondie at Strathclyde Uni (top floor). Also remember Simple Minds at The City Halls (Empires & Dance tour I think).
NowthatswhatIcallmusicCSC
Sevco will be dead in a few months and the SFA will be powerless after reconstruction. Attacking our own board seems pointless now.
Funny how most on here not long ago were applauding the Celtic board for their silence and allowing rangers to destroy themselves.
Too many bored people on here with too much time on their hands. If you want to attack them then do it over the treatment of the GB and police collusion.
Or are we only interested in dead and dieing hun clubs?
ASonOfDan
10:38 on
19 June, 2013
Crewe game may be to allow Lenny the chance to watch their Luke Murphy again. We were looking at him last year around the time of their play off final.
Only bad thing about last night was that it took over an hour to get from Cathcart Road to aitkenhead rd. Despite the place crawling with Keystone’s finest, apparently they were too busy for traffic control as they were. ‘ putting on the kettle’, a technical term for the highly complicated exercise of making tea whilst sitting on your fat, overtime subsidised, chorus & verse dreaming up new ways of being a pain in the thruppenies to the GB. Now I’m not blaming your average, thick as Barry White plod. But surely the highly paid shiftless nerks who run the organisation could stop dreaming about being the the next Elliot Ness and actually do a day’s work for a change? Who knows, they might even like it AND be good at it! You don’t know ’til you try!
Fourgreenfields
Re the ticketing arrangements for away supporters at Firhill, I understand your frustration but to be honest that’s the way it should work. There have been a number of problems for the travelling Celtic support over the last few seasons because the football clubs won’t deal with Celtic directly.
Dinnae worry I’m sure you’ll pick one up and if not then give me a shout :-)
Guys loose the 1
A son of dan it was raised at the last AGM I was at, I raised it with Bankier who knew nothing about it, aye right.
This is a financial issue which they are fuy responsible for this cannot be brushed aside as it involves income.
Wee baby steps pal
Hail Hail
.PFayr
07:24 on
19 June, 2013
Macjay
Congrats to Aus ….looking forward to watching Rogic in the World Cup ..I always have an interest in CFC players playing in tournaments.
Cheers,mate.
If the truth be told,qualification from Asian groups is a far easier proposition than what the European teams have to contend with.
ASonOfDan
10:48 on 19 June, 2013
Sevco will be dead in a few months and the SFA will be powerless after reconstruction. Attacking our own board seems pointless now.
Funny how most on here not long ago were applauding the Celtic board for their silence and allowing rangers to destroy themselves.
Well said! I agree with you 100%
canamalar@hotmail/yahoo/gmail.com take yer pick
Hi all,
Long time, and avid reader of this excellent site.As a techno dinosaur its taken me that long to get registered.I dont attend as many games as I used to or would like, Im unemployed at the moment,and all spare cash goes on the little lady in my life, hence the nom de plume.
Anyway, Im just so glad to be here,I hope to be able to contribute to debates in the comming weeks and months,(and indeed years, God willing).
Oh, and just to add, the answer is NO, definetely no ,cheers. HH
hamiltontim
Alright mate , how’s things ?
I’m not frustrated , I don’t go to away games as you know so am in no position to moan about how tickets are distributed . I just thought I would pass the info on to others , if I don’t get tickets I will defo be back onto you.
Cheers and HH.
lilys grandpa
11:15 on
19 June, 2013
Is that Easter lilly or orange lilly???
Anyway, welcome enjoy your stay!
HT,
Very good, Imust admit I kind of saw that one comming, So congrats for being the one !!! ,
Thanks,
Crewe Alexandra 3 FBO’s.
Paul 67 and fellow CQN’ers,
The demise of “The Rangers” and Hearts seem to have one indisputable common denominator. Forget financial mismanagement or morality’ etc; it is the name Murray.
Look at the shambles across at the dark side with Paul Murray, Neil Murray, Malcolm Murray and of course David “Minty” Murray.
Even Andy Murray had a lucky escape at 15 when he went for a trial. Andy obviously did not agree with ” love means nothing” and escaped on the 66 bus ( or was it the 666 bus ) back to his tennis roots and support of Hibs, where incidentally his grandfather played.
Hearts are doomed. Their saviour would be Ian Murray. Their director of football 2011 John Murray, and their Player / Development manager Darren Murray explain all.
It appears that these individuals are getting confused, thinking Murray is their first name meaning ” Lord and master”. Subtly described in the words of the Cranberry’s track named after “The Rangers” In your heads, in your heads.
HH Always in Celtic.
PS: I am aware that we had a player Steve Murray from 73-76 who had to retire due to unfortunate circumstances, however that is another story.
Apologies to all named Murray who are on the bright side.
Wee Britney’s done well.
Never expected to write that.
Just hope the BBC follow follow up and ram the false judgement down their delusional rabid throats.
Looking forward to our Glasgow derbies with Partick. Great to have the New Year start with the Glasgow derby.
EC67
starry plough
Choon alert ——
Postman delivered this ——
10 “——–Ernest Ranglin & The Mountaineers —–Earth Sound Part 1 / Earth Sound Part 2 [ Earth Sound ]
A deep cut repress of a killer Gay Feet 7” choon from 1970..
Spent decades trying to locate an original and up it pops on a new French revive label.
Highly recommended !
FourGreenFields
11:16 on
19 June, 2013
I’m grand mate the countdown is most definitely on!! :-)
If the other clubs deal directly with Celtic for away tickets then CFC are able to keep a record of who is being allocated tickets and consequently priority is given to those when a ‘ballot’ is required. If the other clube take Celtic out of the equation then often tickets are more difficult to obtain for the regulars and tickets are being allocated to those who often don’t deserve them.
I’ll see you alright auld yin :-)
Tiny Tim 08.45 am
We used to travel up to Jackie O,s and Bentley regularly.
Crackin venues.
lilys grandpa
You look like a Sevco fan
Welcome
According to the Scottish Government as opposed the UK Government
As of 2010:
an entity called Rangers 26 FBO’s
A club called Celtic 21 FBO’s.
I’m sure there is a good reason why the UK Government and the Scottish Government’s figures don’t seem to match, but it doesn’t exactly leap out and grab you by the throat.
SOAL
How was the heid on Sunday?
EC67
BBC Scotland provided the following in evidence to the BBC Editorial Standards Committee:
“We remain of the opinion that due accuracy was achieved.”
“A football club, once incorporated, is indistinguishable in Scots law from its corporate identity.
“If the club was separate it would need its own constitution, committee members, trustees, etc.
“Rangers Football Club does not have that because it is incorporated.”
Borrowed from the Scottish Governments Report – An Evaluation of Football Banning Orders in Scotland.
2.24 Problematic trends also have the potential to emerge from non-risk groups of fans. For instance, both in Scotland and England, new fan-based groups, some modelling themselves on European ‘ultras,’ have emerged. This was mentioned both at Celtic and in Cleveland where young supporters have adopted a similar style to the Italian Ultras. These are ‘super’ fan groups who wear club colours (unlike the casuals) and often have large banners celebrating club triumphs. Whilst these groups are not currently considered risk groups as such, and have not been actively engaged in violence, there has been some involvement in Scotland in what is effectively sectarian disorder. The growth and activity of these groups needs careful monitoring.
SoAL
Mirrors are banned from my house, so cant say how I look!! But going by the beer gut, you could be on to something there!
Thanks for the welcome,
Twists n Turns.
Did you notice a horse that is running today that was in the book??.Standing at 50/1, A bit long in the tooth now,but at that price, I had to bet it.
Some mob has bid or Hearts to avoid admin.SSN
a stor….,
Also remember those FBO’s are guilty until proven innocent, so when the polic bring a charge against a supporter they are automatically given an FBO by the club and at our club need to take legal action to have the FBO overturned, the FBO is not automatically lifted when the charges are either dropped of the supporters is found not guilty.
Least that’s how I’ve read it over theist few years
lilys granpa
Welcome to the greatest Celtic blog on the planet.
Pretty sure you are an Easter Lily kinda bhoy, never mind what that wee scamp HT says.
Ht mate sure mind and keep this even aulder fellah in mind when tickets for Firhill are needed. love and hugs yer auld da.
KTF
HH
HT
My heid was alright as i kept on drinking on the Sunday
Monday i ended up at the Docs as i must have fell at some point and done in my right leg.(BT fancy a swap).
So just a normal weekend
Did you hit the gallowgate after the Gig?
BB @ 10.13
Well said Britney! Now, who amongst our esteemed MSM will back him up?
I’m not holding my breath!
HH
OldTim67
Will call you tonight either before 7 or after 9:30. I’d left my phone at home on Sunday as I was out with my daughters hence me not receiving your call!!
Whilst these groups are not currently considered risk groups as such, and have not been actively engaged in violence, there has been some involvement in Scotland in what is effectively sectarian disorder. The growth and activity of these groups needs careful monitoring.
Does “effectively sectarian behaviour” mean have not been involved in sectarian behaviour but we find them offensive all the same ?