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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Favourite Wee Fergus comment.”Everyone wants to see a strong Celtic but not too strong.”Heard the clown that is Chick Young come away with the same line as Daryl King tonight.”Economics are more important than integrity.”How can Neil Lennon or any player be looked upon as bringing the game into disrepute when the authorities are prepared to overlook what the huns have done for,”economic reasons.”
Dont know why webb never sent him off
I Came out of hampden on sunday ,like a lot supporters down on the dumps ,i tell 1 thing about this team under neil lennon ,1 minute you are on a high ,next mintute your down and i mean down ,thats what this team does ,pulls you right down in fact depression is a better word for it , and neil lennon was again getting it ,and im saying everyone is entitled to there opinions on here ,and if a lot dont like it tough ,i suppose thats me a hun again, no neil will never change ,he is to much of a hothead,and by having that its not doing celtic football club and there supporters no good.
All over, Bayern 2 Real Madrid 1. Think Bayern will need to score next week though.
Looking forward to Barca tomorrow night on Council telly I believe.
Right, off for Season 3, Episode 8 of Breaking Bad.
Sleep tight!
Jobo
Marrakesh Express 21 ;12 Good shout , I concur. Hail Hail Hebcelt
Aye = I (FFS)
Awe Naw, need to see if I can find it now!
Big Cup it’s a hard life but someone’s got to do it!!!
Right enough of this banter it’s 73 degrees outside time I left work, caught a few rays and got my tea on the BBQ, have a good night one and all!!! Aye Awe NAw even you!!!
timbhoy2
Are you posting from the confines of a boozer in Bishopbriggs?? :-))
timbhoy2
You keep telling us you are a Celtic man, yet you keep telling us that Lenny is a hothead and needs to calm down.
A wee question for you if you don’t mind.
Tell me one thing that Lenny has done, or said that any other manager has not done, or said that makes him a hothead.
Just one thing.
For music fans, Paul Weller and Paul Buchanan on Jools at 10pm.
T4
So glad Bayern got that deserved winner against play acting, hacking jose team. I seen it first hand in Seville and every team he manages play the same way.
theglasgowcelticway on 17 April, 2012 at 21:37 said:
Favourite Wee Fergus comment.”Everyone wants to see a strong Celtic but not too strong.”Heard the clown that is Chick Young come away with the same line as Daryl King tonight.”Economics are more important than integrity.”How can Neil Lennon or any player be looked upon as bringing the game into disrepute when the authorities are prepared to overlook what the huns have done for,”economic reasons.”
Young is obviously too stupid to have understood that the mentality that ”Economics are more important than integrity.” is precisely why Rangers are doon the stank.
Stupid,stupid huns.
Good game that ….
thought Webb was ok
one point i must add…Madrid are dirty bar stewards ..Muller just returned from injury…on the park for 30mins ….on the receiving end of a few bad ones …i wouldn`t be surprised if he was the most fouled player on the pitch
McTall
Genuine apologies again
Yer a big polisman you can take it.
PolkemmetcollieryCSC
Philvis…
“Leaning On The Lamp-post” = “Voodoo Chile”..
“Turned Out Nice Again”(aka Jobo’s Song) =”3rd Rock From The Sun”.
I Rest My Case…
TSD.
Lenny getting a bit of a bashing. What did he do, steal £134 million? Divide and conquer my friends. That is their battle cry. Oh, and in case anyone forgets. Champs!
timbhoy2 on 17 April, 2012 at 21:38 said:
Neil Lennon is a Celtic supporter. Why should the guy stand idly by and watch our players brutalised and our club cheated.
Rogue Leader
thanks for your comment earlier
given Whyte`s position i think we`re agreed that this preferred bidder stuff is all Lillian Gish in the absence of an agreement with the owner and secure creditor
why this hasn`t been raised by the media tells it all re their understanding of the situation
thanks again
”Economics are more important than integrity.”
That explains the current financial and morale bankruptcy :o)
‘Boro 0 – Bottom of the league and relegated Doncaster 0
The great motivator Mowbray takes it on the chin again.
Although I used to work in Middlesbrough, like the people and have friends who love Boro. I’m not sad that they are unlikely to go up.
Yes I’m still bitter about his disastrous time as our manager and it will take a long time to forget his mismanagement.
Should it not be ‘Economics is’? Just nit-picking as a stick to beat Young with.
For any of our younger viewers, Chick Young supports the team that used to be St Mirren. Aye.
See the pricks that post here with anti-Lennon stuff….why dontcha just feck off and phone Snyde and get your ego’s massaged?
Trumpets
Forca Barca the morra night by the way…..
timbhoy2 on 17 April, 2012 at 21:38 said
he is to much of a hothead,and by having that its not doing celtic football club and there supporters no good.
No good with whom?
I don`t give a damn about the opinions of bigots,in the media or on the streets.
Lenny refuses to take it on the chin and thank god for that. No more croppy boy.
Also, the seeds of what little success Mowbray has had were planted by WGS.
( let it go man!)
aldersyde avenue on 17 April, 2012 at 21:52 said:
In many ways I feel deep, genuine sympathy for Tony Mowbray. He should never, ever have been put in the position where he could ‘mismanage’ Celtic in the first place. The job was beyond him.
McTall,
You still in a sunny place? Do the numbers One Four Zero ring any bells for you?
HH
Big Swee walks on with Neil Lennon on 17 April, 2012 at 21:50 said:
”Economics are more important than integrity.”
>>>>>>
If the normal laws of economics was brought to bear on rangers IA, they would currently be the contents of the an economics dustbin with the other economic garbage.
Eric
ToxicWasteFC
Celtic man came into the Health Club tonight and said to me….what about NEIL LENNON…..ooooh? ……..
“NEIL LENNON ?…….he should get an IRISH Knighthood for exposing the barstewards”………….we had a wee laugh, then this young bhun comes out with “who cheated you on Sunday, then” …………”UUUH, don’t think you should want to get into a debate on CHEATING” ……. That was the end of that conversation………(They just can’t help themselves….they are still in major denial…
its all hot air on here,its everyone else fault ,nope he is not for me .at least i dont beat about the bush .nite nite. oh and i will be at the motherwell game on sunday,how many of you know it all will be there,
hamiltontim on 17 April, 2012 at 21:56 said:
————–
Agreed. It just shows you the mental fortitude that Neil has AND he has had to put up with much, much more!
Mowbray was shark bait and he got swallowed. IMO
HH
Hamiltontim
You can forgive a manager for making poor football decisions but Mowbray being spineless is indefensible.
2 images will linger for a long time:
1) his lack of reaction to the horrendous tackle on Hinkel by the Hun thug at CP
2) his reaction after our 4-0 thrashing by St mirror
Says it all
Reading promoted to EPL.
timbhoy2 on 17 April, 2012 at 21:57 said:
Me for one …..ya tit
Is timbhoy2 for real????
timbhoy2 on 17 April, 2012 at 21:57 said:
Just you
Eric
The back o’ the bus, they cannae sing, they cannae sing fur peanuts!
Mowb ray just done me for £30