Paul Simon wrote about ‘a loose affiliation of millionaires and billionaires’ but if you want to raise money to rescue a company you need more than a loose affiliation. ‘The rebels’ at Celtic managed this in 1994 (somehow), but Paul Murray’s Blue Knights affiliation unravelled over a few days.
While Duff and Phelps were casting aspersions on the SPL for spiking their plans to announce a preferred bidder last week, the Blue Knights were already struggling to pull £0.5m together as a covenant to secure a period of exclusive rights to buy the club.
18 years ago a Celtic supporter walked into a branch of Bank of Scotland and paid £1m into Celtic’s bank account to bring it back under agreed limits and prevent the club going into administration – without any security or negotiating rights. A discrete but hugely important act by a man still on our board. No one from the Rangers consortium was prepared to gamble half as much last week, they even asked Ticketus, finance provider for Craig Whyte’s doomed venture, to stump up the non-refundable cash! The ticket agency declined.
The Celtic consortium soon fell apart with a modest degree of acrimony but personal issues were put to the side until the job of securing the club was complete. Paul Murray’s group was less fortunate. As a chartered accountant Murray would have been fully aware of the Employee Benefit Trusts which brought the club to its knees. What he knew and whether he benefited are likely to be some of the questions other consortium members were asking. He was not best placed to lead the recovery.
Murray also tried to keep a broad church together, from wealthy but detached Rangers fans to various elements of the support. This sounded ambitious from the off.
The most important comment from the Blue Knights yesterday was “The consortium believes that the whole deal process has become incredibly complex and it is critical that a preferred bidder is appointed this week.”
If it’s possible for the words “incredibly complex” and “critical” to be an understatement this is the occasion. The Scottish Premier League and Scottish Football League announce their fixtures in the middle of June. If Rangers are to phoenix before then they better hurry up and die. The liquidation process will take weeks (if it goes smoothly) and can be open to legal challenge. Stadium ownership has also to be secured and the claims of Ticketus and Andrew Ellis have to be satisfied.
Add to the mix creditors, the big tax case, punishments from the SFA for their on-going inquiry into the last takeover, potential punishments from the SPL inquiry into improperly registered players, increasingly widespread opposition from within the SPL and the rest of Scottish football to a place being created for a phoenix and you get the picture.
The last few years reads like a lesson in how to destroy a huge football club. Chances of SPL football at Ibrox next season? No more than 50%.
Bids for the original canvass painting of Neil Lennon by US based artist, Joseph Gormley, have hit an incredible £500. Keep an eye on the auction, which ends on Thursday, here.
Buy a hard copy of CQN Magazine, issue 7, by clicking on the button below. You can read online here.
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Stienreignedsupreme. Thats a bit below the belt fat sleekit Ally is stress eating if you didnt know. H.H. ;- )
wonkyradar on 17 April, 2012 at 18:31 said:
Swally: “My hands are tied in terms of faces coming or going…I’m limbo as to a summer tour.” Hahahahahahahaha…the man is a comedy genius!
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He could always take them to the summer soccer school at the old butlins in ayr
There is no need for a manager to remove his team from the park en-masse and therefore make himself and his club subject to sanctions as dished out by the governing association
iNow a manager can stay within the laws of the game and have a match abandoned by simply using his 3 substitutes and once they have been introduced have an appropriate number of players develop injuries that they can no longer continue with. Once a minimum numbers of players is reached the referee himself would have to abandon the game.
There is no association in the world that would be able to challenge a players right to withdraw himself from a game if he felt that he was unable to continue at the risk of making his injury worse
Awe_Naw
Andy Walker is a classic case…a Stockholm Syndromist par exemplar.
The more he struggles the greater the pleasure…for he and his turncoat ilk.
Chains lead to Gains.
Ask Terry Hurlock, or any old torturous hun thug their methods.
HH
stinking hun
I like this caller, blaming wee Alec for the hearts fans.
For what it’s worth, I spent years watching celtic away from the wrong end of the park, (before the ticket allocation was revised to give more to season ticket holders rather than the majority going to the associations) and Tynecastle was by far the worst place to be. (Never did Ibrox)
Joe Filippis Haircut on 17 April, 2012 at 18:37:
Sleekit thinks he’s on a healthy diet though – strawberry tarts, apple turnovers, fruit gums, fruit pastels and lemonade – that covers the five-a-day recommendation.
Martinez being interviewed on shortbread. Intelligent guy. Waiting for the stupid childish questions.
wonkyradar on 17 April, 2012 at 18:31 said:
Swally: “My hands are tied in terms of faces coming or going…I’m limbo as to a summer tour.” Hahahahahahahaha…the man is a comedy genius!
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That’s an easy one Ally, none coming, lots going. Hope this helps.
Wee dig at lennon. Wee dig at McCarthy. Scum.
Not true. The decision to abandon any football match is always at the discretion of the referee regardless of the conditions.
I think we know how officials in Scotland would use their ‘discretion’.
Steinreignedsupreme. Fella looking at him I think your correct.H.H. ;-)
https://p.twimg.com/AqiFhw9CIAAl8co.jpg
Is this a yellow card offence? Joe Ledley’s leg after black the animal done him.
from the huddleboard
You’ve strayed….try this
http://forum.followfollow.com/
Alex Thomson
Just off the phone after another natter with
Craig Whyte, still the owner and major
shareholder at Rangers – a football club
he’s not sure he can visit because of
concerns for his own safety. Craig’s in fine
form today.
Craig is not at Hampden for the SFA’s
disciplinary hearing . Craig, in fact is in the
south of France: “Yes Alex – lovely sunny
day down here as you might expect. Just
taking in a little tennis here for a few days.”
Hampden not on the itinerary then?
“Well no. I’m away back to the Highlands
for a few days over the weekend with the
kids. But I’m back in London early next
week.”
So with luck I should be sitting down with
Craig a wee bit sooner than any body at the
SFA. And why?
“Oh the SFA hearing’s a joke – farce. Why
should I go anywhere near a body which
announces its verdict at the beginning and
then proceeds to its investigation. It’s utterly
absurd.”
http://i41.tinypic.com/21ozw3c.gif
http://i43.tinypic.com/wi1ydi.gif
Yet Norris is a rising star….more like a bloody rocket!
There is only one Craigie Whyte
mickbhoy1888 on 17 April, 2012 at 18:41 said:
You don’t get it mate do you ?
Mick-or a cheat.
sparkleghirl on 17 April, 2012 at 17:38 said:
You cant transfer history. If Rangers liquidate history dies with them.
The spin that transferring shares allows the transfer of history is laughable/
Re Leeds they agreed a CVA. It is a completely different thing,
You put your left brouge in
Your take your left brogue out
You take your empty wallet and
You shake it about
You do the stepping back
Then you run like f@€£!
That’s what it’s all about!
Oooh, doin’ the blue knighty!
Ooh, doin’ the blue knighty!
Oh, doin’ the blue knighty!
Knees bent, arse up
Cardi on!
McCoist: “My hands are tied in terms of faeces coming or going”
Sounds horrible….poor Ally.
iki on 17 April, 2012 at 18:19 said:
Did Jock Stein go on to pitch at Ibrox and threaten to take the team off?
My memory of it may be faulty but I am sure that Bob Rooney was the one who talked him out of it.
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What I remember was Celtic being denied the clearest penalty in world history. As the Celtic players and the corrupt official argued Greig ran up the empty park with a couple of huns and scored.
Our players refused to take the centre for some time. Neilly Mochan had to come on to the park before they would resume play. Big Jock remained in the dug-out throughout.
Apologies if this has already been asked and answered but does anyone know where the money comes from to raise and pursue the legal action against Whyte’s lawyers?
Jeez, where are they getting these loonies from tonight on Clyde?
!!Bada Bing!! on 17 April, 2012 at 18:53
I suppose we could all add a few more adjectives to describe this article!
Has that women not have scones to make and orange lillies to water?
gorbalstam on 17 April, 2012 at 18:57 said:
Apologies if this has already been asked and answered but does anyone know where the money comes from to raise and pursue the legal action against Whyte’s lawyers?
probably Legal Aid!
Evening bhoys, warm and hun free on the mountain range.
Still all about attacking Lenny on snyde, so, so many pretendy Celtic supporters on, fair play to the msm, they have done their job, joe public are lapping it up.
gorbalstam
Duff&Duffer acting on behalf of rangers in administration, so have a guess whose footing the eventual bill. :)
Another “fan” havin a go, do us a favour luv … Shut it and Get the dishes done. Your not doing our club any favours by spouting this pash on live radio.
Your not a fan … Your an idiot, be off with you woman !
Well tell your fans to stop trying to kill him then
gorbalstam on 17 April, 2012 at 18:57 said:
Apologies if this has already been asked and answered but does anyone know where the money comes from to raise and pursue the legal action against Whyte’s lawyers?
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Easy, No win, no fee!
Sparkleghirl
Govan , drumoyne, cessnock and surrounding areas methinks
That wumin on Clyde’s right
Its all this sectanariaism and its wrong !.
Stephen Craigan uses an interview with Roberto Martinez to get a sleekit dig in at Lenny. I hope we stuff this horrible man’s team on Sunday and they go on to lose that Champions League spot to St. Johnstone or Dundee Utd
notthebus on 17 April, 2012 at 19:00 said:
Has that women not have scones to make and orange lillies to water?
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Mair like dirty wawshing to dae £134mil worth
What’s the criteria for getting on SSB?
Caller 1 -what point do you want to make?- Eh, rangers going bust- sorry go away.
caller 2 -what point do you want to make?- eh jail Lennon, – ok, your live on SSB.
All these dummy Celtic fans wanting Lenny jailed etc. just as well he didn’t manhandle the ref, pull yellow cards from his hand, ignore police re: approaching crowd etc. Otherwise he would be in barlinnie with Diouf and bougherra…. oh wait.