This evening’s statement from Gordon Smith, effectively claiming he was not in control of “recruitment, scouting [and]transfer negotiations” at Rangers confirms many rumours of power-struggles between him and manager, Ally McCoist, who, apparently, didn’t allow the director of football his way on recruitment matters.
Rangers made it known that wages for February were paid today and that Smith and, also now redundant, Ali Russell, will both continue to work until the end of the month. This begs the question, who else will go before the end of the month?
The first responsibility of an administrator is to try to keep the company trading. Duff and Phelps have been trying to do this. While it was a surprise (to me) to see Rangers director, Dave King, at Ibrox meeting the administrators with McCoist yesterday, King, along with other directors, wealthy fans and perhaps even the former owner, will all have been asked if they would be prepared to put money into the club to keep it ticking over until the end of the season. My information is that no one has put as much as the £1 Craig Whyte put on the table to buy the club last year.
I could break off here and tell you about the man that walked into a Bank of Scotland in 1994 and paid a huge sum of money into Celtic’s account to prevent the club going into administration. He had no guarantees from the old board, who still owned the club, and future managing director Fergus McCann was in no position to guarantee anything either, but that’s a story for another day, I’ll wouldn’t bring his name into this sorry tale. Suffice to say, in our hour of need, someone stepped forward.
It’s now a matter of cash. With wages paid until the middle of next week there is no immediate danger, but the administrators will need a pretty good reason to believe they have wages for March before they retain staff until Thursday next week.
The loss of Russell and the general state of chaos that having to work with various government agencies, including police investigators, will make the business of running a football club technically difficult. They have already missed an important action, but it’s not my job to point this out to them. Until it’s too late.
The Celtic Football and Athletic Company Ltd
I think when you have been asked the same question about six times in a few days it’s worth explaining the issue here. If a football club is liquidated it’s finished. Continuity with its history and records ends. This is not the same as a football company changing its name.
Celtic was established as a sporting club at a meeting in a church hall in November 1887, in many ways, no different than a million other football, karate and badminton clubs. It subsequently registered with the SFA in 1888. In April 1897 it incorporated as a private limited company, registering as The Celtic Football and Athletic Company Ltd at Companies House. It was the 3487th company to register in Scotland and was given the incorporation number SC003487.
In 1994 the company became a public limited company and changed its name to Celtic PLC but, of course, remained the same company, with the same incorporation number and retained the same registration with the SFA. You can check our corporate history, from incorporation in 1897, to name change in 1994 to our most recent annual return, dated 31 December 2011, at Companies House here.
On the same day Celtic changed its name to Celtic PLC, Fergus McCann changed the name of an off the shelf company, securing the old trading name ‘The Celtic Football and Athletic Company Ltd’, which is fully owned by Celtic PLC, but is not registered as a football club. I assume this was to secure our old name for the club and to protect it from potential abuse.
Don’t let anyone tell you our history ‘started in 1994’. We are very much the club of Maley, Quinn, Thomson, McGrory, Stein, Johnstone and Dalglish.
823 Comments- Pages:
- «
- 1
- ...
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- ...
- 22
- »
Paul67
Much as any good Tim will appreciate the case for the recognition of the continuity of the history of Glasgow Celtic, so articulately set out by your good self, such erudition would be lost on our troubled brethern (God bless them for the joy they bring).
With that in mind here is a simpler way to explain to them the concept.
Take a liquidiser to work and an orange (maybe a few to get the point across.) and an apple.
Point to the orange and say “This is an orange”
Drop it into the liquidiser and switch on. Pour results into a glass and point to it and say
“This is not an orange”,
Put another orange in its solid form beside the glass to make the point. An orange—-Not an orange.
Then repeat the process with an apple except do not switch on the liquidiser. Remove apple after a few minutes and say “this is still an apple”.
If that does not work drink the orange juice, perhaps with a dash of Smirnoff, just for the joy of it.
Englishman Mike Hunt to takeover Rangers.
My half Chinese, half Irish mate just pledged a tenner, well done Pat Noodle
I see Andre Previn has donated £1000 to the Huns.
WTF
Never liked that wee clown.
what is the stars
hope so ;-)
ernie lynch
They have much to hide I would guess.
Still can’t for the life of me see a hun team playing next season, the timing is so much against them.
20 weeks and counting.
That said, if they are still in admin, I can, but that is looking less likely by the day.
I know WE wont forget.
But still…
Wee Thought on possible future employment prospects for Gordon Smith.
If I recall correctly, Jim Craig was forced by the BBC to leave a job he had with them at a time of controverssy surrounding Celtic.
thanks for your replies guys re Jamie Oliver place
tried to pledge as I.M.Ticketus but they
would not accept my 24.4mill
:)
THE EXILED TIM says:
23 February, 2012 at 23:33
praecepta
Spoke to a mate not long ago, litigation is looming on the not too distant horizon.
At this moment they (or the chief protagonists) are still in the poker game – litigation and it’s an all in hand.
And……….. someone (or maybe more than one player) may be led from the table in metaphorical hand-cuffs.
Will be interesting to see how long this current elaborate administration process can be kept rolling.
Would you bet better than evens – till after the end of the season?
Jim Craig, he was only filling in. :-)
Ella Vamess £2000
I always enjoy reports posted from Folly Folly…but do they ever post from CQN?
if so it would be much appreciated if that was reported here…especially tonight’s patter
Good of our first minister Alex Salmond to pledge a pound.
Cults
The young fella is going to the game in Aberdeen, he doesn’t have a ticket for the Celtic bit, do you want to team up with him ?
Bundoranbhoy
I had asked CRC to book a couple of tickets, so yes
Douglas Style £5000
Oouccchhh!!!!
MWD
Justin Limbo £1000
Jmcgtimalloy @ 21.52,
Govan a borough? Puleease! (it was a burgh).
Bosser Toffee £1967
Latest donation of £1.80 for a Mr Lloyd T Esbee.
Bundoranbhoy
What about you flower ?
Havingapartycsc aka mouldy67 says:
23 February, 2012 at 23:53
Same here mate, lookin forard to catchin up with all the bhoys
HH
Poolin Yerchain
£ zero
In case anyone has not seen this and if you have, sorry but there are somethings you never get tried of reading:
http://www.bbc.co.uk/news/uk-scotland-17146506
Paddy Gallagher says:
You are surely not suggesting that BBC Scotland will have the brass neck to offer Smith permanent employment. Then again they my have.
There’s hardly been a moment in the past couple of weeks when there hasn’t been a grin on my face.
They are unique and I feel not a jot of guilt or regret in revelling at their demise.
However, ignoring the fact that it is “them”, this sorry tale is a prime example of the successful entrepreneurs (aka capitalist egomaniacs) using the money of the masses to fill their own pockets. You can bet your last pound coin that Messrs Murray, Whyte and whoever else is at the core of this are not deciding between beans and toast or a chip buttie for their tea tonight. No, no, that is the choice for many of those who donate their cash for the right to see their football team.
Having said all that, the follow-followers are to a great extent the masters of their own downfall. Their old fashioned belief that their club is an “institution” and therefore somehow immune from the modern world is astounding. That they have stood idly by while their club speaks more loudly than any cry of “WATP”. That they set up a save our club campaign now after a rather large Clydesdale horse has bolted simply makes me laugh.
Personally, I blame Catholic schools. There are simply not enough of them.
TET
I’m going with my brother and a mate – he is more than welcome to hook up with us – pass my mobile number to him.
I’m trying (unsuccessfully) for ticket but will go even if it means going to Aberdeen end..
CultsBhoy loves being 1st says:
23 February, 2012 at 23:52
————-
Notthebus usually gives a summary, but he’s gone awol tonight.
The Turkmenistani entrenepuer Yerinit Arsdeep has pledged 500 Manats.
Cluyr
praecepta
It’s hard to keep up with the daily happenings, at the moment the end of the season look too far away for them, but as Paul said nothing has been going into the coffers, but you never know, some ejit with a few mill to throw away might weigh in to keep them going, the SPL are due them a few bob, don’t know how much but a month’s trading possibly.
Personally I hope they keep going for a while longer, just to drag the pain out.
But as a betting man, next week will tell us what is the end game.
THIS JUST IN: one week hence
Arsene Wenger: Why don’t the first team have any pratice balls?
Flunky: ‘cos Bartley keeps hoofing them onto the sh*tehouse roof!!
Or maybe he was an entrepreneur?
Hic!
Ulryc
My latest on Celtic Underground if anyone is interested:
A Failure on Every Level
Will big Fraser sign?
looks happy to me :O).
TET
legally, the FTT guys do not HAVE TO rule until mid-January 2013
they have 1 full year, if they need it
:)
short of Salmond saving the Huns – he will be blamed by all Huns and votes lost as a consequent. Salmond will be realising this and I susoect that is why his tune is changing to ‘the taxman must be paid’ patter…he will be courting the Celtic vote soon enough..
Fred C. Dobbs says:
23 February, 2012 at 23:50
As always – LOVE IT.
hh
bjmac