Malky, Craig, redundancies

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I got it wrong on Malky MacKay.  In August I wrote, “Malky’s unforgivable sin is not racism, homophobia or anti-Semitism, these matters are often overlooked as ‘banter’, after all.  He’ll not get another job because he blew millions on players who were useless to Cardiff.  That’s the only kind of offence football really tales notice of.”

Then up stepped Dave Whelan, a man who is widely respected in the sports retail and football, largely for not being Mike Ashley, but who has watched his club slip from the Premier League and now sit in a relegation spot in the Championship.

Football is harsh enough without clubs creating their own distractions.  Wigan and Malky are unlikely to prosper.

So Craig Whyte faces up to four weeks in jail if/when he is arrested.  You have to wonder what his police interviews will reveal.  Craig doesn’t strike me as someone to take a fall for anyone.

Redundancies are sometimes necessary for a company losing money and without the resources to pay bills, but Newco Rangers cutting the payroll by 10, none of them from the well paid football department, is pointless tokenism.  Savings made will keep the lights on for only a few days more, so why do it?

I have some sympathy for their new management.  They need to make significant cuts into football costs, but those costs are contracted to the end of the season, or beyond, these cuts are perhaps a gesture towards what’s ahead.

Management have a problem, how do they meet commitments to creditors and protect shareholder value?  No bank has ever extended credit to this club, and I suspect HMRC have them on a short leash.  There will be some trade creditors, but they are likely to be of the face painter variety.  By far the biggest creditor, and therefore most influential after an insolvency event, is Mike Ashley.  He would be in a position to appoint an administrator, and to approve any settlement.

Dave King continues to play an important role, encouraging fans not to support or spend with the club.  I fully endorse his views.

King still thinks he is playing poker but his hand has been called and we all know he’s all out of aces.  His rantings are not part of a coherent plan.  His calls could precipitate the end, but he has no way of transforming this into a new dawn.

Remember to keep an eye on the long-term fundamentals, you cannot operate a large football club with the size of Newco’s infrastructure without regular Champions League income.  Nothing that has happened in the last three years has changed this.

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1,217 Comments

  1. foghorn leghorn on

    there’s a fair chance we will be playing ibrox huns next season in the league

     

     

    why?

     

     

    because i had a dream last night that they beat hearts 8-1 in their game tomorrow

     

     

    not sure if any of the goals were honest mistakes though

  2. It’s not our fault the HUNS are dead and no longer with us, we’ll apart from the tribute act, but PL is just telling it as it is, it’s not a seceret or a thing that didn’t happen, it did, and it made serious changes in money’s coming into Celtic, and that is a fact, like it or lump it.

     

    I find it strange why some use it as a stick for PL back, WASENT his fault, but it’s his problem?

  3. BGX read my response to ann tearmann. Every institution in scotland is engaged in this. I also mentioned some other points too. The Rangers affair for example.

     

     

    These are clear examples of modern institutionalised sectarianism.

     

     

    I even offered you a solution.

     

     

    Auldheid. I am not denigrating those who have taken this matter forward and who have effectively forced the boards hand. But I guess the question is why celtic didn’t do this themselves and why a year down the line we seem no further forward.

     

     

    I don’t accus the celtic board of stupidity, I accuse the, of colluding with the Huns and the SFAS (can you deny they didn’t know of the 5 way agreement or the nonsense of 10m a year?i also accuse the, of contempt for the support.

  4. I assume there will be a minutes applause this weekend for the young Scotland supporter who died last week.

     

     

    Anyone heard?

     

     

    LB

  5. Livinhoy lawwell ignores the impact he has had on declining attendances. But if we still have 40000 season ticket holder the impact on celtic financially is minimal. There will be some impact from a sponsorship perspectiv but again that is not necessarily down to the Huns.

     

     

    It’s a fantasy figure, designed to hide the errors that lawwell has made.

  6. Have to say I was very impressed with Ronny at agm. now if he gets the team playing as well as he speaks exciting times are ahead

     

    Like it or not pls evaluation on minus them is, I think, pretty close to the mark when you include the M£4 season ticket rebate, a couple of million for extra tickets plus hospitality.

  7. neganon2

     

     

    Let’s have it then, what puts you in a better position than most of us on here to comment on the goings on at Celtic?

     

     

    A pretty arrogant thing to say, and not really in keeping with the general tone of the board, but if you’re prepared to back it up with a detailed explanation of why, and bearing in mind you have called the Celtic board liars here I think it’s the least you can do, it might make people like me think there’s more to you than your username suggests. I migh even start reading what you post occasionally.

     

     

    So, tell us, do

  8. Why are club executives conversing about Huns at clubs AGM? I thought they had a strong business plan in place that would survive without them when they died?! No?!

     

     

    Obviously the accountants not as good as they thought eh?

     

     

    Possibly driving away their own fans with stupid policy helping criminalise sections of the support did not help.

     

     

    Ok Peter Perfect. We get it. You want the HUNS back. Please just come out, be honest and say it directly.

     

     

    Oh and BTW 190 employees shafted by non tolerance of living wage conditions is shameful. Chairman’s view that club policy towards employee salary structure should not be determined by external forces is stupid and crass. Every structure of club policy is determined by external forces, govt, law, football governance etc. chairman is the worst steward I have known in my time supporting our club!

     

     

    MWD said AYE

  9. NegAnon2

     

     

    We are winning league titles and people are not going because of people Lawwell? Dearie me.

     

     

    LB

  10. big Pistol just paving the way for return of the Zombies, same as strachan and johnston of killie have done recently….oh…and by any means nesessary…

  11. BIG-CUP-WINNERS on

    Neganon2

     

     

    Why do you repeat the same nomsense over and over ?

     

     

    your running away dig at Bgx, I’ve seen that before too.

     

     

    Think you did the old “dehumanising” rubbish this morning.

     

     

    I suppose you have stopped the swearing, so you obviously can adapt.

  12. BGX

     

     

    I disagree. I think he is explaining the financial figures.

     

    It is clear that without CL monies we need to sell £10m worth of assets to keep the team on the pitch at a standard we are used to. Probably why the scouting system is being restructured.

     

    You can only see what you want to see.

     

     

    LB

  13. “Think you did the old “dehumanising” rubbish this morning.”

     

     

     

    I think this is more commonly known as a ‘coffee over keyboard’ moment :))

  14. If you don’t already know we’re losing money due to Rangers absence from the SPL then you probably are wasting your own time thinking about it…

     

     

    That’s never really been the question, it’s how we handle that and to what extent we adjust our expectations.

     

     

    We cannot retain Denayer, under almost any circs. Guidetti won’t stay because the league is good or the money is the best, it will be a personal choice. It would be extremely harsh to judge anyone at Celtic if their decisions go against us.

     

     

    Happy to see a living wage across the board and Celtic and everywhere else. I’d be hoping everyone castigating the board for not being all over this, are spending as much time challenging every other retailer, service provider, entertainment provider they use… most, I’d assume, are no longer commenting on CQN because they’ve just realised the tablet, smarthphone, or PC they’re using was built by slaves in the far east. Such moral certitude and righteousness will put an end to CQN comments, but maybe you could all get together outside Braehead, talk Celtic and shout at the retailers who don’t pay every employee a living wage… you’ll be too hoarse to talk football.

     

     

    Astonishing hypocrisy, yet again. It’s pretty revealing that some Celtic ‘fans’ are so keen to pick a fight over an issue that affects every single organisation and individual in the UK. I despise this kind of moral equivocation.

  15. PL not matter what, there are some in here just don’t like the guy, and rubbish him for nothing, just to be controversial, each to there own I suppose.

     

    As someone said earlier every AGM every year you can almost swear you read the same posts last year, and the same posters, including myself ;)

  16. It’s really easy for PL to say we’re £10M down like for like and the only material change is the lack of Rangers in the SPL.

     

     

    We’ve lost 15k tickets at let’s say an average of £35 = £525000

     

    We have 40k ST with £100 discount = £4M

     

    We’ve dropped 10k ST at £500 = £5M

     

     

    Obviously there’s a bit of fluidity about that, and other factors.

     

     

    PL’s big problem will be explaining what’s caused the issue if a form of Rangers returns and the revenues don’t recover.

  17. west of ireland csc on

    very disappointed in celtic over the living wage

     

    but the board is made up of wealthy men who no concept of trying to make ends meet or being short of money

     

    its a disgrace but thats what you get when you have a gang of arch capitalists running the club

  18. bgx

     

     

    14:02 on 21 November, 2014

     

     

    A simple question with a very complex answer for a CEO of Celtic

  19. Bonty Bhoy

     

     

    don’t think you get it do you?

     

     

    If I supported turned up at Tesco, ASDA, Sainsbury, lidl or Aldi, bought a season book, purchased their personalised merchandise, sang their songs, knew their history inside out, back to front upside down, bought video’s about their greatest years, their greatest players, knew who founded them, understood the reason of their foundation, believed they had a charitable foundation and played on that to keep their supporteers and customers coming and spending money then i’d be chapping down their doors to request they pay a fair and living wage for those they employ and also remove zero hour contracts.

     

     

    As it is I shop in these places, i chose which one I shop in due to proximity, ease of shopping, occassionally price etc. I don’t run in with a Tesco scarf and sing songs celebrating them as if they were my own family. i don’t get angry at the managers bad decision to put Bob on the till rathre than Gill who is so much better in my view because I’m sexist 9that’s a joke BTW).

     

     

    I expect more of Celtic FC PLC.

     

     

    You must laugh at the mad man Brother Walfrid every time you pass his statue when walking up the Celtic PLC Way.

     

     

    MWD said AYE

  20. Sorry mate your garglin marbles.

     

    Your posts are defining you as a sectarian bigot the more you silage spread about Scotland being institutionally sectarian.

     

    I do not believe that to be the case.

     

    ———-

     

    Selective reading neganon.

     

    Come back to me once you understand the last line.

     

    The last line you omitted from that paragraph

     

    HH

  21. Thomthethim

     

     

    well put,the main reason I don’t come on here much,people can’t seem to respect nor acccept different opinions are an important factor in life hh

  22. CQN Saturday Naps Competition : WEEK 14 results (15th Nov)

     

     

    Che takes the honours last week with Chesterfield @8/1.

     

     

    Other winners : Eurochamps67 & BULL67 (Katkeau @9/2), leftclicktic (Battalion @4/1), What is the Stars (Love Rory @11/4), 16 roads (Steel Summit @7/4)

     

     

    +£36.00 TheBarcaMole (4)

     

    +£26.00 Eurochamps67 (7)

     

    +£12.13 Che (5)

     

    +£ 9.50 Bada Bing (4)

     

    +£ 7.88 voguepunter (3)

     

    +£ 7.00 tommytwiststommyturns (1)

     

    +£ 3.58 leftclicktic (4)

     

    +£ 3.50 BULL67 (3)

     

    +£ 0.38 PFayr (4)

     

    +£ 0.25 fleagle1888 (3)

     

    -£ 1.80 Nye Beavans rebel soldier (2)

     

    -£ 3.00 Raymac (2)

     

    -£ 3.50 twists n turns (3)

     

    -£ 4.00 hashadenough (2)

     

    -£ 4.00 Hotel de Paris (1)

     

    -£ 4.40 Jobo Baldie (3)

     

    -£ 5.17 green T (2)

     

    -£ 5.50 BMCUWP (1)

     

    -£ 7.38 Burgas Hoops (2)

     

    -£ 8.00 Cosy Corner Bhoy (1)

     

    -£ 8.00 Zihuatanejo (1)

     

    -£ 8.50 Cathal (1)

     

    -£ 8.52 What is the Stars (2)

     

    -£ 9.00 21-5-79 (1)

     

    -£ 9.50 Gweedore Celt (1)

     

    -£10.25 som mes que un club (1)

     

    -£10.75 Hutchybhoy (1)

     

    -£11.25 16 roads (1)

     

    -£11.38 Rockon (1)

     

    -£14.00 ABZMike

     

    -£14.00 Celticrollercoaster

     

     

    *No selection posted (wk 14) : Celticrollercoaster, Hutchybhoy

     

    *Non-Runners (wk 14) :

     

     

    Cheers, fleagle1888

     

    (Bangalore CSC)