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:
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Just trying to catch up on blog and Charlotte the being at the Boss concert laast night.
Life’snotbadatallcsc
I hear Ian Livingston, one of our non-execs, is to be appointed as a Trade Minister, according to the PM at PMQs.
Greenpinata,
Thanks for the kind words, once I get started, I hope you still look forward to my my input!! Cheers mate,
HH
BT – If yer still aboot – I hope yer leg is better soon M8
Hail Hail
Bawsman
12:11
Right. And if a Sevconian workmate pointed me in the direction of material that appeared to expose the high-ups at Celtic in a similar way, I might very well shake my head at him and say, “Hun lies”.
But if he showed me the emails and they looked genuine, I would do a wee double-take, even if I didn’t admit it to him. And if there were more emails the next day, and the next and the next and the next, and Celtic said nothing to contradict them, they would look more and more genuine to me and I would become more and more disillusioned.
FOOTBALL BANNING ORDERS BY CLUB SUPPORTED
Hartlepool United 8
Doncaster Rovers 8
Rotherham United 8
Darlington 8
Celtic 8
According to the UK Home Office
lilys grandpa
__________
I’ve heard awe aboot ye – so I’m going – Off oot :)
The floor is yours – CSC
Welcome and God Bless M8 – Guid catchy name btw.
KevJungle:
I agree, oh! for a son of Davie Hay.
btw, was it you that was asking about Hearts and transfer fees?
Celtic First
You would only feel disillusioned because you have a conscience, unlike “thems”!
HH
MickTT, A Stor Mo Chroi – I also forgot to add that without context it’s also easierto see why the banner might get misrepresented.
Celtic_First
12:17 on
19 June, 2013
—————————-
Completely agree, I work with Rangers supporters in an industry that doesn’t suffer fools at all………they are most definately fools where their team are concerned. I don’t say anything much to them, I just occasionally post some funnies to them ripping it gently.
Celtic v Aberdeen…….Sky Sports 1
Hibs v Partick Th…….BT 1
Rangers v Hearts……History Channel
Mighty Tim
No bother.
The link to the emails is here.
http://www.scribd.com/doc/148622874/Control-Freaks-and-Liars
1000th post yeeeeeehaaaaa!!!!!!
Podium!!!!!!!!!!!!!!!!!
I do feel a bit of a pwick doing that.
Or John Clark.
Summa of Sammi….
12:12 on 19 June, 2013
If the DJ Plays Frankie Goes to Hollywood:Two Tribes..
Summa of When2TribesGoToWarCSC
_____________________________________________
Every time I hear that song – I think of the Hampden Riot 1980
The ‘ONLY’ time that the huns were served true Justice imo – CSC
Right – Off oot noo – laters….
Canamalar
It was Auldheid who said that, on Monday night, I think.
Summa
Trust you :-)))
Fred/ Celtic 1st
Thanks guys
KTF
HH
Football songs through the ages:-
2011/12- Bring on the Hearts, the Hibs the Rangers.
2012/13 – bring on the Hearts, the Hibs…
2013/14 – bring on the Hibs
MT
Received, merci!!
Bawsman. 0)
Soal or che will have that on FB soon
Russia seem to be tough place for foreign coaches.
Slaven Bilic sacked yesterday from Locomotive Moscow. Fabio Capello will be leaving Russia team coach post.
A Stor Mo Chroi
12:20 on 19 June, 2013
___________________
Sorry M8 – nearly missed ye there :)
It was discussion I had wi a hun about – Hertz trying to pull a fast one over Fergus.
The SCF 1998 was played at CP – Hertz 1-0 Huns – ensuring that the Myth won hee haw in his last season of his 1st spell. Anyway, a couple of days after the SCF, Hertz told the huns that there was no rush to pay the outstanding fee that remained for a player the huns had signed from them.
Now, the Hertz bored told Fergus that they were having problems paying for their ticket allocation for their last visit to CP of the 1998 season – but on the other hand – they could allow the huns to take their time to pay up a player ? needing their hospitality fee from the SCF at CP as tey were so well off – or words to that effect ?
Anyway – Fergus kept their fee and sent them home to think again :)
I was enquiring to see if any of the – CQN blood-hounds – could shed any light on ‘that’ particular scenario ?
The wee guy who used to walk up and down under the bridge on – London Road wearing the placards proclaiming – “The end is nigh etc…” – was wearing placards during the Fergus are that said – “Nobody, but nobody – F#CK’S with the Celtic !!!” :)
Hail Hail
Fergus told Hertz that – they wouldn’t be
Zbyszek
really like bilic as a coach (and player) I think he threw his hat into the mix for celtic job around the time MON took over, big celtic man if memory serves..
Zbyszek @ 12 31 .
Italian media are claiming that Fabio Capello is going to PSG .
Italian media are claiming that Villas Boas said no to PSG
new article posted.
South Of Tunis
yer man capello can certainly dig the jobs up..
That was Advocats time and I think the only player he bought around then was McCann. Weren’t the huns flush with the banks money so I’m not sure what went on.
Bring on The Jags The Hibs The Teuchters!
A Stor Mo Chroi
needing their hospitality fee from the SCF at CP as tey were so well off – or words to that effect ?
_________________________________________________________________________
The above should say – Fergus said that – “I assume Hertz won’t be needing their hospitality fee from the SCF at CP as they were so well off” – or words to that effect ?
Sorry M8 about the typos :(
Off oot this time.
I notice in the news that Celtic director Ian Livingston, the CEO of BT has stepped down and is becoming the Coalitions (eughhh…spit) new trade minister.
Shame as I was hoping he would lean on them to bid for SPL rights…
masty
You are right. I can only guess that the reason Bilic was fired was decision made by Locomotive players. They did not like him. Glushakov (leader of the team ) told the media that :Bilic is the worst manager I have ever worked with.
South of Tunis
Yes, Russian media say the same. They also claim that Cappello was in permanet conflict with Russian FA. Different culture.
THIS MAY BE A “Little” DIFFICULT FOR ALL WHO ARE OVER 60 .THOSE YOUNGER THAN THIS WILL HAVE NO HOPE AT ALL.
DEMENTIA QUIZ
FIRST QUESTION:
YOU ARE A PARTICIPANT IN A RACE. YOU OVERTAKE
THE SECOND PERSON. WHAT POSITION ARE YOU IN?
~~~~~~~~~~ ~~~~~~~~~~
ANSWER : IF YOU ANSWERED THAT YOU ARE FIRST,
THEN YOU ARE ABSOLUTELY WRONG! IF YOU OVERTAKE THE
SECOND PERSON AND YOU TAKE HIS PLACE, YOU ARE IN SECOND PLACE!
TRY TO DO BETTER NEXT TIME.
NOW ANSWER THE SECOND QUESTION,
BUT DON’T TAKE AS MUCH TIME AS
YOU TOOK FOR THE FIRST QUESTION, OK?
SECOND QUESTION:
IF YOU OVERTAKE THE LAST PERSON, THEN YOU ARE….?
(SCROLL DOWN)
~~~~~~~~~~ ~~~~~~~~~~
ANSWER: IF YOU ANSWERED THAT YOU ARE SECOND TO LAST, THEN YOU ARE…..
WRONG AGAIN. TELL ME SUNSHINE, HOW CAN YOU OVERTAKE THE LAST PERSON??
YOU’RE NOT VERY GOOD AT THIS, ARE YOU?
THIRD QUESTION:
VERY TRICKY ARITHMETIC! NOTE:
THIS MUST BE DONE IN YOUR HEAD ONLY.
DO NOT USE PAPER AND PENCIL OR A CALCULATOR.
TRY IT.
TAKE 1000 AND ADD 40 TO IT. NOW ADD ANOTHER 1000 NOW ADD 30.
ADD ANOTHER 1000. NOW ADD 20 .. NOW ADD ANOTHER 1000.
NOW ADD 10. WHAT IS THE TOTAL?
SCROLL DOWN FOR THE CORRECT ANSWER…..
~~~~~~~~~~ ~~~~~~~~~~
DID YOU GET 5000?
THE CORRECT ANSWER IS ACTUALLY 4100…
IF YOU DON’T BELIEVE IT, CHECK IT WITH A CALCULATOR!
TODAY IS DEFINITELY NOT YOUR DAY, IS IT?
MAYBE YOU’LL GET THE LAST QUESTION RIGHT…. MAYBE…
FOURTH QUESTION:
MARY’S FATHER HAS FIVE DAUGHTERS:
1. NANA, 2. NENE, 3. NINI, 4.. NONO, AND ???
2 WHAT IS THE NAME OF THE FIFTH DAUGHTER?
~~~~~~~~~~ ~~~~~~~~~~
DID YOU ANSWER NUNU? NO! OF COURSE IT ISN’T.
HER NAME IS MARY! READ THE QUESTION AGAIN!
OKAY, NOW THE BONUS ROUND,
I.E., A FINAL CHANCE TO
REDEEM YOURSELF:
A MUTE PERSON GOES INTO A SHOP AND WANTS TO BUY A TOOTHBRUSH.
BY IMITATING THE ACTION OF BRUSHING HIS TEETH HE
SUCCESSFULLY EXPRESSES HIMSELF TO THE SHOPKEEPER AND THE PURCHASE IS DONE.
NEXT, A BLIND MAN COMES INTO THE SHOP WHO WANTS TO BUY A
PAIR OF SUNGLASSES; HOW DOES HE INDICATE WHAT HE WANTS?
~~~~~~~~~~ ~~~~~~
IT’S REALLY VERY SIMPLE
HE OPENS HIS MOUTH AND ASKS FOR IT…
DOES YOUR EMPLOYER ACTUALLY PAY YOU TO THINK??
IF SO DO NOT LET THEM SEE YOUR ANSWERS FOR THIS TEST!
~~~~~~~~~~ ~~~~~~~~~~
PASS THIS ON TO FRUSTRATE THE
SMART PEOPLE IN YOUR LIFE!
HAVE A NICE DAY, ONE AND ALL.
Live from Buchanan St ………………Diet huns officially in administration, or, as its known in Sevconia – summer.