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]
1,023 Comments- Pages:
- «
- 1
- ...
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- ...
- 27
- »
DHARMA BAM
Yer not from Ardrossan are you?
I know a fella with very similar tastes.
Didnae like Dylan either though I got him into U2 about 81 when Boy came out-saw them on telly supporting SLF then later live at Strathclyde Uni.
If you are,you have my sympathy!!!!
Nothin like a Burd oan the Wire
the long wait is over
BRTH has the tickets so not sure if he got the dear seats or the cheap ones.
The other details are as follows:
LIONS ROAR EVENT
Kerrydale Suite
Celtic Park
G40 3RE Glasgow
United Kingdom
Friday, 21 June 2013 from 19:30 to 23:59
come to think of it I have long believed Nick Cave has only got to where he is because he was given time to practise over MANY years and actually become halfway decent and he didn’t top himself by way of a drug overdose.
He can’t sing for toffee and he spent quite a few years wearing tasteless [polyester, checked golfing trousers.
David McComb and The Triffids were better.
DHARMA BAM
Any one is fine,but seriously,don’t feel pressured,mate.
At the end of the day,a bit of humour,insight and opinion on the blog-and a score to charity-wow!
Everyone’s a winner….
THE EXILED TIM 17:39 on 18 June, 2013
I like some of his stuff – by no means a massive fan, although I do have four or five of his albums. Same with Springo – but I do think their hard work paid off.
I went to see Sprigo at Wembley when I worked at CBS – free ticket and hamper (those were the days) and I was very impressed with his live show. Don’t have any of his records though.
BMCUWP – no I’m from Parkhead originally (Janefield Street). Not too far from the old cooperage.
Right,Offski folks.
Midnight start
Gotta go,pleasure as always.
lol! The huns have established how the BBC will report the death of Sevco.
Stupid sleep walking zombies…
On the music front, give me a bit of prog rock any day.
wannabehippiesCSC.
I didn’t even Mention Led Zeppelin, cornershop, elo, georgie fame, gianmaria testa, jonathan wilson, love and money, otis redding, penguin cafe orchestra, the church, the stranglers, tinariwen, xtc, rachid taha.
BMCUWP – i’ve donated to Tommy Boyd’s page.
Hail Hail
googybhoy ♥ celtic
17:35 on 18 June, 2013
Hahahahahaha ….. I know you meant to say sevco v Hearts, incidentally…..
Hands off Abba.
I was told he was on the Celtic radar. Attacking midfielder.
HARRY Forrester has been warned he may
miss out on the good times at Brentford if he
doesn’t stay on next season.
The Bees winger was due to meet the club’s
sporting director, Mark Warburton, today for
talks on a new contract as his current deal
runs out this summer.
Forrester was courted by other clubs last
season, but team-mate Richard Lee has told
him the grass may not necessarily be greener
elsewhere.
Lee said: “It’s a tough one because all the
players have their own goals both collectively
and individually, and it is not something Harry
will take lightly.
“Knowing him personally, I
know how much Harry
loves Brentford, but he
needs to find what his
path to get to where he
wants to be is.
“If he feels he needs to
move to progress his
career, then that’s his
decision. But there are
some great things going
on at Brentford at the
moment, the club is really
going places.
“Harry has had a good season and I hope he
stays. He could miss out on some special
times if he goes, and moving on is not always
the best option.”
Dharma Bam \o/ stands up for Neil Lennon 17:43 on 18 June, 2013
“come to think of it I have long believed Nick Cave has only got to where he is because he was given time to practise over MANY years and actually become halfway decent and he didn’t top himself by way of a drug overdose.”
I’m a big fan of the boy Cave. I have a couple of Triffids albums and the Go Betweens were a decent band from that period as well.
I don’t get The Beatles at all and Julian Cope … well his first book was hilarious at least.
SittinonthedockofthebayCSC
Ah ABBA, better than average middle of the road pop (derogatory term btw) group, wrote some catchy tunes, won Eurovision, but by no stretch of the imagination could anyone include them in the pantheon of music giants.
IMHO simply the accountants of music.
Farage reported as saying the SNP had similarities with the EDL- come on you SNP supporters- have your say
Stairheedrammy 18:05 on 18 June, 2013
All nationalists have something in common.
If you change you mind honey I’m still free
Dharma
Nick Cave is one of the best live acts I have ever seen and I have seen hundreds of gigs. The Go- Betweens were great live as well. The Apartments are the Aussie band that slipped under the radar…
Forrester of Brentford,seen him a couple of times not overly impressed.Celtic have better prospects in reserve IMO.
steinreignedsupreme,
with nick cave I honestly believe it was form over content for the first few years. the music media seemed to love him and so he got an easy ride.
I think I;ve heard a couple of go betweens members solo songs (if that makes sense) but not the actual Go-Betweens. I’d be happy for any steers on the best ones to listen to.
Right … its one thing to berate zombies… laugh at the dying jambos… even slag off dull music
But … dissing abba … not on my blooming watch
Steinreignedsupreme
Have a few lsitens to Julian Cope’s Jehovahkill.
The church were a good australian band as well. Well , the first four or five albums anyway and El Momente Descuidado
I thought Nick Cave live segmentd in Wings of Desire were good yet I didn’t particularly like him at the time.
U2 in 1982 at Tiffany’s were good
but the best ever I have seen live was Jeff Buckley at the garage in 1995.
No one else even comes close.
so much for signing off!
Sportsound on Shortbread now,think it’s a mini huns crisis special :)
Spain pen
Best gig= Bob Marley at the apollo
Come on Scottish nationalists- are you letting the English nationalist call you more extreme than them?
Winning captains
How many seats left at the table ?
Im sure joko and the stinging dick will take a seat between them ;)
4-1 Spain.
Some team likes.
4-1
The Boy Jinky
18:13 on
18 June, 2013
Right … its one thing to berate zombies… laugh at the dying jambos… even slag off dull music
But … dissing abba … not on my blooming watch
Settle down…….am sure Paul will delete the post’s
and bar the culprits.
Dharma Bam \o/ stands up for Neil Lennon 18:12 on 18 June, 2013
Re: Go Betweens -Spring Hill Fair and 16 Lovers Lane are both good albums.
Solo wise – In Your Bright Ray by Grant McLennan is a brilliant album
I liked the Teardrop Explodes but aside from one or two tracks didn’t really rate Cope’s solo stuff. Went to see him live with a mate who was a big fan – he was shocking bad.
Don’t know that Jehovahkill – is that recent?
Celtic_First 17:22
Would the path of least resistance not be to apply the rules that everyone in football signed up to before kicking a ball?
This is going to be something that needs to get sorted out when Sevco reach the SPL. If “Rangers” are not going to be allowed to be relegated (because they are needed for “the good of the game”) there has to be rules put in place for what happens if they finish bottom of the league ie –
a) Relegate the team finishing second bottom.
b) No relegation/promotion that season.
c) No relegation, but the winners of the first division get promoted, leading to a 13-team SPL. The first season “Rangers” finish outside the bottom two, two teams go down instead of one.
Otherwise we’ll be back in “make the rules up as you go along” mode.
fanadpatriot
Never seen him play. He has the type of past our scouts have loved recently. Could have been a contender but..