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.
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the Dubai entrepreneur Amin Bawdjeep has pledged £9M
PLEDGEMANIA HITS CQN !
CELTIC FANS SET ASIDE ANCIENT RIVALRY TO COME TO THE AID OF THE MIGHTY GLASGOW RIOTERS !
Rarely have I witnessed such a great mood on here.
And a whole bunch of new posters (not huns) mad keen to get in on the act and renounce lurkerdom.
Fabulous.
Makes me think that if there’s anybody sensible (I know, I know) at savethehuns.com then
when that guy wades through the “pledges” he’s gonna realise just how many Tims there are
out there ! Like totally WAY too many…..
The Big Hoose is doomed.
And BTW the staunch loyal bluenoses are gonna cough up how much exactly ?
Pennies.
Them huns is dim no question.
This has been one dopey idea .
Bless ’em.
pigalle
I sure hope the rumour I just heard isn’t true
Apparently one of Rangers’ showbiz supporters has just pledged a major sum to help the struggling bears.
Lionel Ritchie’s brother, Mabozza, is a keen bluenose and promised £1690.
Apparently his more famous brother is willing to promise a “fiesta, forever” if the penniless bears go the way of the dodo. (thumbsup)
quonno says:
23 February, 2012 at 23:57
I would never waste energy wondering what the BBC are capable of.
CW tugs on the non-existent heart strings of the saveourgers
http://www.youtube.com/watch?v=_Er69b4HMl8
What happens to Martin Bain’s proposed financial settlement,now that the G.A. are In Administration ?
Is he a secured creditor at the top of the list ?
Since he has already broken ranks with the Establishment club,perhaps he might be prepared to divulge some further tasty revelations…..these tanning salons are getting rather pricey nowadays…
Cults
I will talk to him tomorrow, I’m sure he would be happy too as he was intending going on his own, the blokes he knows are Aberdeen supporters.
The russian oligarch Macraic Itchi has pledged £5
THE EXILED TIM says:
23 February, 2012 at 22:55
Aye Peat and Gordon Smith for starters and then Ogilvie. Who else?
bjmac,
The media go on about how well moisty is conducting himself these days.
Let him walk in Lenny’s shoes for a wee while. Then he will know real pressure.
I’m sure the sheep have copped onto the scavenger site as well and probably a few others, so their £5.8M in 24 hours will no doubt end up being enough to save the huns with enough to bail out those other well known non-taxpayers Greece.
Least we forget in our sometimes parochial world, UEFA will expect the huns to honour their outstanding transfer fees to Rapid Vienna et al sooner rather than later. Just gets better by the day. Could not have a better time to have time off work, cheers me up no end! Thank you CQN and Craig Whyte. I bet you never thought you would hear that expression!
Time for sleep . So good night and Hail! Hail! from PMTYH
Terry Butcher has had a little photo shoot today prior to the game at the weekend that has caused a bit of a stramash with his former employers
https://p.twimg.com/AmWP4QXCMAAbq7E.jpg
TET
He’ll be in good company – my brother is a rowdy nutcase and my mate is a nice quiet guy – I provide the balance…ha!
Craic was mighty, thanks for a great night.
CultsBhoy loves being 1st says:
24 February, 2012 at 00:02
Too late. Last week’s statement on top of the OB Bill was a massive blunder.
THIS JUST IN: Ranjurz are attracting interest from the entrpreneur Warwick Hunt
posted it earlier saying go find this on you tube, but now need to just post the link,
FOR THE NIGHT SHIFT ACROSS THE WORLD
this is a must watch.
sweary words alert.
EXPLAINING DEBT TO A HUN
“but we are the people”
http://www.youtube.com/watch?v=H8x_59EjZOs
Senor Willy in for thruppence ha’penny
Auldheid
Jim Farry, no Fergus got him :>)
That’s the one hoose that needs taken down before any other hoose.
I read your thing the other day, way too sensible for those who administer the game :>)
I will mail you later, need to go to bed, up early doors and have to finish the rendering of the utility room, or my baws will be toast.
I really could be doing with a definite date for my garden party ;-(
HH
PALACIO67
do I spy you in this wee Barrow in Furness CSC Doing the huddle clip at the weekend ?
http://www.youtube.com/watch?v=wSJF585-oRg&feature=related
Interesting nugget here. It was “Murray who suggested that Whyte could approach Ticketus for an advance against season tickets”
http://www.telegraph.co.uk/sport/football/teams/rangers/9101242/Rangers-in-administration-Donald-Rumsfeld-had-it-right-all-along-about-the-unknown-unknowns.html
RogueLeader says, 00:12
That was a thing of beauty
bournesouprecipe says:
23 February, 2012 at 22:29
Bedtime for me, what a brilliant night on here tonight was.
A great “team performance” just like the bhoys , but my MOTM award tonight goes to bournesouprecipe @ 22.29……worth scrolling back for another look !
Watch Paul67, Phil Mac, RTC etc at work. Any CQNers in the crowd?
http://www.youtube.com/watch?v=0L1WOnR2KBY&feature=related
Philip Mc.Cann has pledged to take up a collection at Celtic park on Saturday.
Please give generously.
Saint Stivs says:
24 February, 2012 at 00:17
=================
Aye Higgie, great weekend down there.
Can be spotted doing the conga and huddle.
Celtic fans dont walk away, we conga
Hail Hail
This one is even better, beware Sun link
http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4150194/Tels-one-to-savour.html
Palacio67 says:
24 February, 2012 at 00:21
Saint Stivs says:
24 February, 2012 at 00:17
thought it was you, very good clip.
your nearly as fat as me.
tal.
http://i43.tinypic.com/2jfhulj.jpg
RogueLeader, 00:24
See his usual bile spilling forth in that one
£1500 from Mr Victorious Wanyama
BigVic@gmail.com
philvisreturns says:
24 February, 2012 at 00:04
I sure hope the rumour I just heard isn’t true
Apparently one of Rangers’ showbiz supporters has just pledged a major sum to help the struggling bears.
Lionel Ritchie’s brother, Mabozza, is a keen bluenose and promised £1690.
Apparently his more famous brother is willing to promise a “fiesta, forever” if the penniless bears go the way of the dodo. (thumbsup)
POST OF THE NIGHT. SUPERB..
i swear, my ribs, jaw and chin muscles are sore with laughing this week.
the ever classical Hitler in the bunker scene has been updated to this bumper.
the mentions of Jelly and ice cream have me on the floor.
HITLER FINDS OUT RANGERS HAVE JUST ENTERED ADMINISTRATION
http://www.youtube.com/watch?v=ci7xjJrvrFM&feature=related
Saint Stivs – started watching that and the ad that came up on the vid was for Duff & Phelps! YouTube has fantastic targeted advertising
Saint Stivs says:
24 February, 2012 at 00:23
=================
Haha
All that jelly and ice cream my friend.
Can you imagine us trying to run from the ticket inspectors at woodhall station now !
Hail Hail
THE EXILED TIM says:
23 February, 2012 at 23:59
Going out on a limb – I can’t see a rush to early CVA or liquidation.
The money trail: where is it? who has it? where’s the security?
HMRC – swift kill? example? bench-mark? – but no money!
Or………… do they let things rumble on in administration? Watch the protagonists engage in in-fighting (litigation) – thereby identifying where the bodies are buried?
Time is on their side……….. they would still have a full season to pick over the carcass (with the FTT up their sleeve)?
Can’t see how a swift resolution will suit HMRC.
whyte knight
http://www.youtube.com/watch?v=IL3a2LHEqqw