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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. DAVID HAGEN, scored a goal against raith rovers 2001 after only sixteen seconds, keep fightin big man.

  2. Jeezo Paul, are you suggesting glibby might get a lie down in the big house, with total respect, me thinks you need a lie down, never in a month of sundays will he get jail time in scotland, never.

     

    I recall you also suggested an actual punishment for sevco as well for their past sins, I honestly think the unusual hot weather is affecting you, we can but dream tho :-)

     

    HH

  3. fairhill bhoy on

    STARRY PLOUGH-think BR was good in his wording regarding MJ,I think he will go out on loan to sweeten the mcgin move.In my opinion obviously ?

  4. FAIRHILL BHOY

     

     

    Och you and yer opinions:))

     

     

    I think he’ll stay, BR might try him out in the first team to see if he’s got the goods:)

     

     

    I think he has the goods, looks a player..

     

     

    HH

  5. Joe Filippis Haircut on

    Scott Brown calls for other clubs to up there game in europe in order to improve European co- efficience.The Rangers get through there European tie and get completely slagged by some on CQN in my opinion there are to many on CQN who live just to slag the Rangers and are unable to see the bigger picture. H.H.

  6. Mahe the Madman on

    Top o the Mornin To Ya,,

     

    Thom the Thim good to see ya back ya happyclapping rascal.

     

     

    Flung under the bus,,

     

    Please forgive me for intruding but if I may say a few words on Kevgate.

     

    There are a few on the blog who will call out any personal attacks and I am one of them.

     

    Despite being a Kev supporter before ,and probably will be again , on these pages I had to call him out for personal attacks on another poster, just as I would do to anyone.

     

    He broke one of the very simple rules.

     

    The blog has nothing personal whatsoever with Kev, although his style is not to everyones liking ,as shown by the strong rallying when it was discovered his health was bad. I was proud of the blog for doing that.

     

     

    Also when it comes to what happened between 2 grown men,, outside of the blog in real life ,,well its none of our business. Is it?

     

    They can sort it out, believe they might have.

     

     

    As for the posts the last week or so in the morning if I honestly seen them as personal attacks then I for one would be calling out those names and indeed would have already.

     

    But they arent,,if you ask me I would say its just like the “ fake “ weather reports from east KIlbride ,, not personal at all.

     

    Its a mix of nostagia,,habit,,banter,,you name it. But it aint personal. Seriously it aint.

     

    If anything I see the jungle legend smiling at the morning banter.

     

    Anyway nothing to do with me,,smiley thing

     

     

    Ron Barcardi,

     

    “ I have no problems with them taking profit. “

     

    I certainly effing do.

     

    This is a two way street , us fans and the board. Its a relationship in which there must be some give and take.

     

    THis board take and give very very little back which is very unhealthy in any relationship.

     

    THey have failed to represent us when attacked and kettled

     

    Did not support our manager to the fullest in the face of vile attacks

     

    Where in charge when we were the victims of a huge swindle

     

    Climbed in bed with sectarianism when they charged 49 squidlies.

     

    I could go on.

     

     

    The one thing I will give them is breaking even. But even that raises its own set of issues.

     

    Lets assume we are gonna break even and have a decent season.

     

    Soo whats the point in having them in charge. We are a self sailing ship. They plotted a course yes but we dont need them to constantly stay on deck to navigate.

     

     

    And then look at years like the one we just had. A whopper. 90 million smackeroonies

     

    Lets say we were at 70 mill turnover right so we are up 20 big ones.

     

    Wheres it gonna go?

     

    Now remember we were told the club breaks even over any given period ( I could find the articles to back this up ).

     

    THat suggests we are about to spend 20 big ones but we arent.

     

    Certainly not on the football. Virgil paid for Eduoard and Stuart paid for the lights and pitch.

     

    We were also advised by professionals on here that you dont use your own cash reserves to finance infrastructure such as the hotel. Its not as it it goes there then .

     

    So wheres the record breaking dosh about to go? I am VERY curious to find out.

     

     

    If we are gonna make millionaires richer then can those millionaires please at least stand up for us sometimes.

     

    Or can we rotate those we make rich at least as we are bored of seeing the same faces now.

     

    Well one of the same faces all the time and the other not soo much so while Im at it dear millionaires can you at least show up and we will make you rich while not representing us?

     

     

    Signed ALL of CQN ;)

  7. Jimmynotpaul on

    Apoel out, they won 1.0, but out 3.2 on agg to Suduva.

     

    They were potential opponents ( seed wise) if we made 4th qualifying round.

     

    Keep an eye on TNS lost 5.0 in 1st leg but are 3.0 up at half time.

     

    Hail Hail.

  8. fairhill bhoy on

    STARRY PLOUGH-I know what am I like ?. Don’t disagree mate,just think he will be the pawn in the ‘chase’ for mcgin!or is it prawn ??

  9. MADE,

     

     

    If you had a spare million would you give it to Celtic, no questions asked, no need to pay you back?

  10. Jimmynotpaul on

    Following on from post at 7.56.

     

    This time courtesy of Moravcik 67.

     

    Apoel were the highest ranked team we could have followed in the play off round had all seeds progressed.

     

    Hail Hail

  11. Mahe the Madman on

    Ron, no chance.

     

    Adi, indeed it is Sir.

     

     

    Got stuff to do while she’s napping, will catch up later bhoys.

  12. Delaneys Dunky on

    Saint Stivs

     

     

    I reckon Patsy Gallacher is the greatest ever Bankie. His grandson Kevin was no a bad player. Hope John McGinn is the next great Bankie Celtic player. My dad loved Bankie John Divers. Wish I saw Patsy Gallacher and John Divers play.

     

    YNWA

  13. Delaneys Dunky on

    Who let the dogs out?

     

    Woof woof, woof.

     

    Have you seen a talkin’ dug?

     

    No o no o.

     

    Son was tellin me that he watched the huns game earlier. Reckons Gerrard’s huns are worse team than Pedro’s huns. Hope he is correct.

     

    Stevie Gee will be the former manager of the huns on 3/9/18, he also reckons.

     

    YNWA Stevie Gee

  14. Hrvatski Jim on

    So “Rangers ” have won a tie in Europe .

     

     

    The Champs Elysees yesterday will be nothing compared to Copland Road tonight.

  15. DD

     

     

    Patsy Gallacher wisnae a Bankie, technically!

     

     

    He was born in Donegal.

     

     

    :-)

     

     

    HH!!

     

     

    pedanticbassasCSC

  16. Delaneys Dunky on

    HJ

     

    Today is the day that Sevco won a two legged tie in Europe for the first time. Congratulations to the 6 year old Glasgow club.

  17. Hrvatski Jim on

    DD

     

     

    a remarkable achievement on reflection.

     

     

    I am waiting at Glasgow airport for delayed flight to London.

     

     

    I expect the crowds will start to build up soon for the anticipated arrival of the flight back from Skopje after midnight.

     

     

    Thankfully even Easyjet is unlikely to delay me that much.

  18. Just saw the end of the France-Ukraine match in the UEFA under 19s Competition. Was it nepotism or just the fact that the SFA nominated him that saw Andrew Dallas refereeing this game? Surely it could not have been due to merit on his part. One of the poorest refs. seen in Scotland in many years, in my opinion. So why this honour?

  19. Monaghan1900 on

    One FFin’ response to the abuse of the refugee kids:

     

     

    “People like frankie boyle are too blame for this pathetic abuse of vulnerable people.”

  20. The Stupid ,that’s what my tablet called the scums opponent tonight,were probably the worst passers of the ball I have ever witnessed from a pro team.Absolutely hilarious.WTF was that about.Rob Mc Lean,when mentioning any Hun player had him a superstar.His finest was the CH.

     

    “He will be hoping his big move to Rangers will get him BACK into the Croatia team”.One cap around 4 years ago.

     

    MOTHER OF GOD.

  21. I remember going to Gallaghers pub on/off Kilbowie road in Clydebank between Singers end and Livingstone Street

  22. Watched the 2nd half of the Europa League match on Premier Sports (cos I also subscribed for a month), my goodness but Shkupi (sp) were absolutely dire. The opposition didn’t look up to much either.

     

     

    Hoping for a(nother) decent performance tomorrow evening. HH

  23. St Stivs

     

    Please dont respond to Turkeybhoy.

     

     

    Bang on the money.Please don’t.

  24. Jimmynotpaul on

    TNS just failed, they won 4.0, losing 5.4 on agg.

     

    Incidentally, they were playing a Macedonian team who finished 40 points ahead of Sevcos opponents tonight.

     

    Hail Hail

  25. My take on Timbhoy 2, he is an older bloke who is set in his ways, he also struggles with the punctuation and the like, he may well be many things but never a hun.

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