King, the other Big House, contingency planning

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Proceedings against Dave King for Contempt of Court begin on Friday at the Court of Session.  In March, King was ordered to offer £11m for shares not already owned by his concert party, no later than 26 April.  Nearly three months later, that instruction has not been complied with.

Well in advance of the Court decision to force King to comply with the Takeover Panel instruction to offer to buy non-concert party shares, King would have been advised what requirements he would need to comply with, if he lost.  Prudent contingency planning would have averted this Contempt hearing.  But you know King.  He sat on the Rangers board which made no contingency plans to allow it to continue to trading through HMRC’s case against the club.  The consequences of that were so severe it went into liquidation BEFORE it lost the case!!

Indeed, before starting a takeover bid for Newco, King would have been well advised to have the money in place to underwrite the project.  Remember, he once suggested a £50m would be needed, this is ‘only’ £11m.  If he cannot lodge this £11m he has no chance of making good money to build the team.

During the takeover Panel’s case against King last year, King’s QC told the court “Any order wouldn’t secure compliance”.  Quite an insightful prediction.

If found guilty, these proceedings could see King reside for a while in Glasgow’s other ‘Big House’.  Even if that happens, it will be a mere blip on the ‘journey’, prepare to read that is is a ‘favourable settlement’.  The question to keep your eye on, is who will pay the bills after the season ticket money runs out?  Never mind, there will be orange strips, reduced ticket allocation to Celtic, angry statements about the SPFL and SFA, so they must be good guys.

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  1. Aye that’s right, Celtic should act like gentlemen, give Hibs whatever they want for McGinn; whilst they are at it they should loan our all their best young talent to various clubs;

     

    They should always do the decent thing ‘cos after all, every other club has always stood by them.

     

     

    As I said, aye, that’s right!

  2. weebobbycollins on

    Sorry Big Joe…I’m one of those morons who doesn’t have that required brain capacity to appreciate the visual excitement of sports such as, cycling, darts, snooker etc…oh! I can ride a bike, throw a dart, chalk a cue (i can even sneakily run a saliva wet index finger over my mate’s cue tip just before he plays his shot)…but watch these sporting moments on the telly? No Nae Never…I’d rather be out on a boat……. :-)

     

    regards….

  3. As posted yesterday by Monaghan 1900, Glibby still has support among the inmates of Planet Sevco, his ruse to statement the hell out of everything coupled with the Oranjeboomboom strip has given everything a warm orange glow over there.

     

     

    One would hope they never see through him and continue to fiddle whilst DK Nero burns their club to the ground:))

  4. GlassTwoThirdsFull on

    Those pesky banks make it so difficult to open accounts. They just don’t want your money!

  5. Interesting thought….

     

     

    Re-sign Liam Henderson as a free agent? Give him a season to prove himself?

     

     

    Takes the pressure off Celtic to sign McGinn this summer.

  6. One more sleep ( copyright Jobo ) till our first competitive game.

     

    Looking forward to seeing some familiar faces in the boozer, and at the corner.

     

    Oh aye , and looking forward to seeing the new pitch and the new lights . It’s all happening.

     

     

    The King in Bar-l Paul ??? Canny see that happening. Unfortunately.

     

    Have a nice day fholks .HH

  7. weebobbycollins on

    From hun media…

     

    Aris fans just attacked bears stay safe. Had helmets on and threw flares from a poster on FF who is out there.

     

     

    So, as I read it…a particular brand of ventilators attacked big pandas which were wearing WWII German helmets and were standing on the shoulders of stoned Freedom Fighting giants and throwing old fashioned trousers…

     

    Again, I just don’t have that brain capacity Big Joe mentions to understand any of this…

  8. For anyone interested in the cycling, or just a damn good sports read, can I recommend The Rider by Tim Krabbé. It’s only about 150 pages long, it will take about as long to read as the race it describes would have taken to ride. It’s a novel (or a novella, given the short length) but an excellent insight into the mind of a competition rider.

     

     

    Fills a gap till the fitba anyway.

  9. Cycling is it?

     

     

    Loonies, WTF is this new craze of cycling against the traffic???

     

     

    Glasgow City Centre is full of them.

     

     

    As for them shouting at you as you drive the right way down a one-way street, I’ll get you the next time ya fud :-)))

  10. Paul67

     

     

    Rainjurz in more courts than Rumpole?

     

     

    Dave King has Zombiefied Sevco since he moved in as soon as the original

     

    Rangers were safely liquidated and his new club were relieved of responsibility for the creditors list.

     

     

    You’ll recall the ‘fit and proper’ ruling that never was and there were Celtic shrewdies at the time quite content that King was voted in.

     

     

    So it has proved, he’s penniless and facing the first of a treble whammy with Ashley up next again, then the Compliance charge, not only in he in last chance saloon he’s played his last card his Orange joker.

     

     

    Can you get a fit and proper fugitive?

  11. Monaghan1900 on

    STARRY PLOUGH on 17TH JULY 2018 12:38 PM

     

     

    “Clarence” is being stalked by a chimpanzee with a net. The chimp is just waiting for Daktari to fire a tranquilliser dart into Clarence’s left buttock.

  12. T imbhoy 2,

     

    Just how much money have Celtic spent in the last few years renovating the area around Celtic Park?The Celtic Way is fantastic approach to the Park,which would have cost plenty.Now we have a state of the art playing surface for the team,a whole new lighting system,and upgrades to some of the stands.We have just spent 9 million on Edouarde,smashing our previous record.Getting players the manager wants to sign new 4 year deals,costs millions over the course of their contracts.Everything can’t be done at once.

     

    Stop acting like a spoilt brat,throwing your toys out the pram,and enjoy what you have.These are fantastic times to be following the club.

  13. WEEBOBBYCOLLINS on 17TH JULY 2018 12:34 PM

     

     

     

    3 weeks on a bike compared to a game of darts…………………………….

     

     

    STOP DRINKING NOW…………………………..

     

     

    BigJoeBobbingaboooootStill

  14. The greatest day was the day the worlds most deluded ,stupid,and bigoted fans,threw Ashley out,and welcomed Clarence in with open arms.We will never know what end game Ashley had in mind for the scrum.Thankfully neither will they.What other fans would vote out a Billionaire,for a convicted criminal who had recently had most of his dosh ripped from his sweaty palms.

     

    As I said in my last post,these are great times to be a Celtic Fan,for so many different reasons.

  15. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    Re Celtic fans being filmed by police,a quick Google as to whether it is legal supplies very interesting answers.

     

     

    do police have the right to film you without permission/uk

     

     

    (Hope that works)

     

     

    None of the responses addresses the question. In fact,most bounce it back,does a member of the public have a right to film the police?

     

     

    Very strange.

  16. Turkeybhoy,you forgot one thing it certainly wasn’t Desmond’s money that done all these upgrades,like when the time comes who do you think will pay for the Hotel, Superstore, Ticket office,Musuem,it certainly won’t be the Desmond ,Lawell,of this world.

  17. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    Copy and paste the following,you’ll see what I mean.

     

     

    do police have the right to film you without permission/uk

  18. Timaloy29

     

     

    Good call mate. He’s a good good player, and that would allow us to stick two fingers up to Hibs

     

     

     

    KINGLuBO

  19. BMCUWP

     

     

    Nor sure whether police can film, I mean, it’s all about Intellectual Property Rights, is it not.

     

    Maybe Mike in Toronto could throw some light on the subject.

     

     

    KINGLubO

  20. Bump

     

     

    Hi All. Hail hail. Looking for help. Has anyone managed to set up Celtictv to play on the PlayStation 4 browser. It would be the easiest way for me to watch it on my TV but comes up with “no playable sources found” Thanks in advance.

  21. Bournesouprecipe.

     

     

    E Tims have focussed on the Compliance Officer process at

     

     

    http://etims.net/?p=13157

     

     

    The blog has attracted more traffic than their server can handle at once so it’s a matter of persistence to read it. But worth while as it suggests DK playing fast and loose with the SFA Judicial Protocol (on TOP of everything else)

     

    (See what I did there twice :) )

  22. Timbhoy 2,

     

    Where have you gone with this now?Why would you think that Desmond should pay for anything?He is a shareholder.You are even bringing PL into this nonsense.You even mentioned”All of these upgrades”,you know the ones you were wailing about a lack off.Do you have the 1st idea of how a football club is actually run?Our turnover last year was 90 million.An incredible figure considering the league we play in.Our club is being run better than any time in our history.As I said earlier,you have a strop on.Why,I have no idea,so pointless me continuing with you.

     

    HAIL HAIL.

  23. TIMBHOY2

     

     

    You’re still labouring under the illusion that DD should spend his personal money on Celtic, you should consider what that means.

     

     

    DD pulled it up when Celtic needed it or did you conveniently forget that.

     

     

    Why don’t you support Chelsea or Man City, they both have the kind of owners who buy what they want!

     

     

    I’m surprised you can walk with the weight of those chips oan yer shooders…

  24. Any pics of the Huns flying out for their game?Has Jabba put a block on them?Surprised no one at the Airport snapped them.

     

    Maybe they went by Bus.

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