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.
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Just thinking
the way the media here are behaving, when TFOD are liquidated, will the media blame D.Murray or NFL!!!
Hamilton- he’s coming from further than left field then- nearer FF than left field
TV Highlight of the Day…
Frank Skinner on George Formby @ 9pm on BBC4.
One of the most unfortunate aspects of Jimmi Hendrix early death is that he went to his grave without acknowledging the huge debt his own modest catalogue owed to the the Wigan Wizard,especially with regard to “Are You Experienced”,and “Bold As Love”….the most blatant examples of shameless plagiarism…
Try listening to any George Formby album at half-speed and ‘the truth will out”.
George Formby-Rock Legend
Paul Buchanan is on Jools Holland tonight.
Anhedonia ! : Pleasure Dissociative Orgasmic Disorder is caused by a lack of male testosterone apparently.
But it must be an unpleasant illness and explains why the huns tend to riot more when they win games. They just can’t get no satisfaction.
Luck Cody 19-49:
Totally agree. Some of our own support were easily brainwashed by the Laptop Loyal of the time. The outcome was a highly embarrassing when the man who saved our club was booed by, I reckon 5000 so called Celtic fans. It sounded louder because thousands were having a go at those booing Fergus. The LL just loved the way their plan came together that day. They claimed half the stadium had took part in ruining the flag day.
Fifteen years later its the same story as many of our own are led like sheep, queuing up to slaughter a man who has just delivered a title while being subjected to constant grief and provocation. I agree that NL does need to restrain himself in the face of awful refereeing decisions, if only to deprive the LL of headlines. But as long as we can refer to the antics of Ferguson, Wenger, Mourinho, Souness and Craig Brown, and the criminal record of Walter for Totten-bashing and also attacking Mixu Patalainen, the rookie Irishman has nothing to be over-concerned with.
I’d love to see Rod Stewart take part in a high profile trophy presentation on the last day. I think he gives us that wee bit better PR than Andy Cameron, and it would go worldwide. I would then love to see the club invite Fergus McCann over for the flag day next season, and let the wee man get the ovation he deserved in 1998.
hh
McTall
We have all been things in a previous life, some shared your previous occupation, whereas others have been on the receiving end of the Justice system.
I too saw the tweets last night about the behaviour of some fans. However, you posted in the middle of the SSB broadcast which was knee deep in “non” Celtic fans calling for Neil Lennon’s head for every problem in Scotland. You walked into a stushie over the bias of SSB caller screening, the contribution of these eejits, and the defense of Neil Lennon.
When it comes to Fergus McCann should we not just build a statue of a bunnet outside C.P?
I think he’d love it rather than a statue of the man himself
Hamiltontim,
You’ll be glad to know that I have once more survived the perils of the M6 to return to my old home town.
Thanks again for the help. The wife’s going to post the pub a champions flag to see if they’ll hang it in the bar. Definitely a place I’ll be visiting on future trips.
S
james79
only is he puts the money into it…
blantyretim
I like it!!!!!!!
McTall
It’s no oor fault your a copper. :-)))
Could be worse though. You could have retired and be driving a taxi now.
MWD
Ribery, good player but seems a bit of diving b’stard
James79 on 17 April, 2012 at 21:15 said:
When it comes to Fergus McCann should we not just build a statue of a bunnet outside C.P?
———————–
I actually like that idea. Just a wee bunnet (or a broad black brimmer) made of brass on a plinth which is not too high so that you can rub it for luck on the way into the game.
Might catch on! :-)
HH
Ralph I came on much earlier this morning and caught both barrelss from some folks but particularly Awe Naw for just asking what had gone on last night, recounting what i’d heard and saying I thought it was a scandal, but I get that peoples emotions are running high at present, but that shouldn’t mean that we can’t turn a reflective eye on ourselves. Hey ho it is what it is i’m a big boy, quite literally and after 20 years in the job i’ve developed a very thick skin, water off a duck back and all that but this site is brilliant but from time to time it can get side tracked by petty name calling cause someone doesn’t agree with a comment and there’s no need, I consider the Celtic family to be better than that!
Art of War
Hell yeah, works for me!!!
Real player clears the ball, hits Pepe’s hand.
Nothing given
English officials.
HMmmmmmmm
Marrakesh Express on 17 April, 2012 at 21:12 said:
The support is the Laptop’s weapon of choice. It’s particularly bad at Celtic park. If the team aren’t out of sight or pegged back, you can hear the support panic. It’s nothing short of disgraceful.
I sit near the GB first half, then follow the attack round to the Celtic-end. Junior hates the change, he’d rather stay put in 113 to avoid the moaners.
Moonbeams I retired and moved to a tropical island to start all over again, so ain’t all bad I suppose!!! ;)
snake
same official who gave the london orcs the goal on sunday
Snake
Only against Celtic thats a penalty
Its another new secret rule that was invented with the SFA and the gang of 10
James79 on 17 April, 2012 at 21:25 said:
——————————
So who’s passing the hat round for the collection? ;-)
HH
(Snake, I don’t want to start us off again on the mibs but it’s so effing obvious now, I don’t know why but I’ve felt it more this season, it was that ipoxy game, I wish we were in the league of Wales or Denmark or somebloominwhere)
Art of War
We could ask ticketus for a loan…………..
Come on Bayern, nick a winner.
Jobo
shady
You’re welcome mate. I thought you stayed there permanently?
2-1 Bayern
YYYYYYYYYYYYAAAAAAAAAAAASSSSSSSSSSSSSS
GGGGGGGOOOOOOOOOOAAAAAAAAAAALLLLLLLLLLLLL
Yee-ha! For once I ant-jinxed it!
Jobo
Cracking goal from Gomez good play by lahm..
McTALL on 17 April, 2012 at 21:26 said:
Moonbeams I retired and moved to a tropical island to start all over again, so ain’t all bad I suppose!!! ;)
McTALL I hate you, not for being an ex-copper (been a victim of Plod, but they’re needed); not for misinterpreting your request; but for the Tropical Island thing……..
Nasty and no need for it :-)
Mourinho & Ronaldo
GIRUY
Lahm
thought he was Danny McGrain for a minute there…
So..Jack Irvine ate our Titles.
Just like Our Hero managed to evicerate theirs,
Jack by deflection provided the backdrop for smoke & Mirrors.
How loNg is a Chinese whisper?
Short enough to get you hung or Longer still to lasso and brand the whole ranch?
#Memories
The Singing Detective – Excellent.
Similarly, isn’t Adele just an ersatz Gracie Fields for a more self-absorbed generation?
http://www.youtube.com/watch?v=3I9C_aUKcmU&feature=fvwp (thumbsup)
Well done Howard Webb, my opinion, any player who waves the imaginary card should get booked.
Fight, fight, fight…
Marcello should have seen red there.
Jobo