Marching Newco into the Sea one insolvency at a time

835

‘Starve your club of money until I get what I want’ is just about the measure of Glib and Shameless’ statement yesterday.  No one at the SFA, SPFL, the Glasgow City Council, the Co-op/Vatican Bank or Celtic could do as much damage to the Fledgling Rangers as Dave King’s pronouncement.

These people have taken so many wrong turns in this episode it is like they are being operated by a compulsive Karmic puppeteer.  There is a time for withholding ticket sales, Celtic fans did it 20 years ago next month, but Celtic fans had a plan, grassroots support, investors on hand, unencumbered by Fit and Proper concerns, or the law against directors of a liquidated business working in a company using the same or similar name.

Most importantly the Celtic ‘old board’ included some, like Kevin Kelly, who was committed to change, while even the hold-outs were died-in-the-wool Celtic men, if clearly misguided.  None of the decision makers would ever consider razing the stadium.

Fledgling Rangers are at the mercy of hedge funds, some spivs and a couple of ‘Rangers’ men, who must be increasingly frustrated at the attempts of others to usurp what they legitimately bought and paid for.

Before stepping off the ledge – and make no mistake, stopping fans from buying season tickets is the only way to kill not just a club, but any successor clubs – you need to be sure you are in a position to cut a deal, and that you have the cash to make it all possible.  If you don’t have a watertight plan, you are working towards the end of your football club and its dilapidated remains.

I would be utterly amazed if the Easdales or Laxey Partners submit to this Glib and Shameless series of demands.  If they do, I have seriously misread them.

King was on the oldco board when they walked slowly to the gallows, all for the want of the kind of money he now says is needed to make Newco competitive with Celtic.  His chance to bang the populist drum and raise some cash was in the years before the club, stadium, stock and bike were sold for a combined total of £1.

It makes you wonder if there is a plan to march the entire club, and all its symbolism, into the sea, before picking up the driftwood after another liquidation.  For a fan of the club that would be horrendous, but think of the rich pickings available to whoever can grab the assets.

This is high stakes poker, but those forcing the issue don’t have any skin in the game.  Even if the whole thing is washed away in the storms, they will avoid most of the blame.

Delighted to read Fergus McCann on the club site this morning:

“I am very proud when I see Celtic’s progress, its status in Scotland, and its worldwide reputation. Especially when I see the great work of Celtic FC Foundation carrying on the legacy of Brother Walfrid.”

Despite the perspective that the events of 2012 gave us I still meet people who just don’t get what he did for Celtic.  No football fan is under any obligation to worry about their club’s finances but the man at the top is, and when our top man wore a bunnet, our transformation was outstanding.

There is a little over two weeks to go before the CQteN St Patrick’s Night Dinner on Friday, 14 March, at the Kerrydale Suite, Celtic Park.  The beneficiary of  the night will be Kholoni Primary School, Malawi, where we will fund Mary’s Meals to build a kitchen for 1200 kids who currently don’t have meal facilities.

We have received some incredible assistance already (more on what happened in Germany and Belgium when I get the next stage of the development ready), but you can get involved by ordering a personalised beanie hat, with your name on one side and CQN on the other.

Hats cost £15 each and if you order before 7 March you can collect yours at the CQteN Dinner.  If you’re not attending the dinner (and why not?) the £15 will cover postage and packaging.  If you ordered a Virtual Ticket, you’re personalised hat is part of your package.  All profits go to the school kitchen.

Take a look at the front and back of the hats.  To order, email hatfrompat@celticquicknews.co.uk with name, whether you are attending CQteN and address if not, and I’ll get your message to Pat.

Click Here for Comments >
Share.

About Author

835 Comments
  1. Pages:
  2. 1
  3. ...
  4. 10
  5. 11
  6. 12
  7. 13
  8. 14
  9. 15
  10. 16
  11. ...
  12. 22

  1. jude2005 is Neil Lennon \o/

     

    21:33 on

     

    27 February, 2014

     

    VP

     

     

    Head _ Case!!

     

    —————————–

     

    jude …that me you’re referring to?

  2. Slabhoy - Duntocher is Green and White on

    Prestonpans

     

     

    Classic!

     

     

    I work for Oracle and I may use that story tomorrow

  3. Hamiltontim is praying for Oscar on

    Prestonpans

     

     

    Do they have one of those for North Glasgow speak???

     

     

    I could use it at work :-)

     

     

    Ps at what point in time did the verb ‘to hit’ become ‘to hut’?

     

     

    Not just in spelling but in pronunciation too!!!!

  4. corkcelt- SUPPORTING THE DAM 5 on

    There is indeed a lot of pish on here, but I concur with SFTB croppyboy’s post re Paul McStay and Tommy Burns has to be the pishiest post for a long long time. P.S. No typo here, I dropped the h from his name, cos he doesn’t deserve to use it.

  5. paolosboots fc before plc

     

     

    21:09 on 27 February, 2014

     

    Ryecatcher have celtic ever really done loyalty its all one way imo. Sutton, Jackie come to mind!

     

    ———-

     

    Come on, the same jackie who drove to Wolves the day after we applauded him at CP during his testimonial.

     

     

    I felt as sickened by Jackie, who I loved as an unsung hero, as I did with the board’s actions.

     

     

    Sutty? Different kettle of fish. Loved the big guy, gutted he did not get a fitting farewell. A magnificent footballer and a Celtic giant in my eyes.

  6. eddieinkirkmichael on

    I’m reading a Thesis(td67 stop reading now) submitted to Univercity of West of Scotland by Gerry Hassan. I actually get an acknowledgement on page 6 as I brought certain things to Gerry’s attention.

     

     

    There are 2 chapters on RFC(IL) that are of interest to us Tims. The first being the downfall of RFC(IL) and the lack of coverage in the press. He talks about the whole “succulent lamb” culture and the lack of any real analysis by the MSM on the real reasons for the demise of RFC(IL). He also gives Phil a mention, commenting on why no newpaper in Scotland actually reviewed the book Downfall.

     

     

    Second part of interest to us is his take on the Ibrox disaster and Sherrif Smiths condemning of the RFC(IL) board members and their responsibility for the disaster at Ibrox.

     

     

    Absolutely great reading, something we will never read in the MSM in Scotland.

  7. prestonpans bhoys dam justice for the 5 on

    Slabhoy – Duntocher is Green and White

     

    21:38 on

     

    27 February, 2014

     

     

    You’ll know that during your intro you are invited to put your name plate on the world map. One guy is in the middle of the black sea, good swimmer I guess….

  8. paolosboots FC before PLC on

    No worries Bada im sure we will meet up either at cqten or in ksc.

     

     

    jimmici I think Jackie had been messed about by PL I know how he feels can’t wait to see this £10M player though!

  9. Slabhoy - Duntocher is Green and White on

    prestonpans bhoys dam justice for the 5

     

     

    21:44 on 27 February, 2014

     

     

    Sound like laugh a minute stuff – learning anything…

  10. prestonpans bhoys dam justice for the 5 on

    Slabhoy – Duntocher is Green and White

     

    21:48 on

     

    27 February, 2014

     

     

    Well thank god for the light relief because talking clusterware stacks would put you to sleep!

  11. Our resident golf club Hun tells me ‘ah luv ma team Rainjurz so ah dae’ but tells everyone else he is a Killie fan.

     

     

    An absolute Cammy Bellend of a man who I try to avoid in the clubhouse mostly,in case my English golfing mates actually think I have an affinity with him.

     

     

    Loud and embarrassing after a few,and it is priceless watching normal people stifling their laughter at his attempts at the English language.

     

     

    Current incomprehensible favourite phrases of the Bellend are things like ‘So am Ur’ after nearly every sentence about himself.’Naw Am Urnae’ got a few strange looks last time,too.

     

     

    He stopped saying We are The People after I mockingly laughed out loud at him a couple of weeks back.

     

     

    Looser and Loose for Loser and Lose particularly grate on me.

     

     

    Avoid Huns outside of Scotland at all costs….they will embarrass the feck out of you until you stop apologising for them.

  12. Why didn’t our Board take up the option of a loan of £10m at 1.55% and offer it to Sevco at 10%. Everyone’s a winner!

     

     

    Get off your ass PL and make some easy money.

  13. Corkie and pals

     

     

    Despite your green tinted spectacles the fact remains that a Celtic manager and a club captain connived with a member of the MSM who is now banned from CP to put pressure on the CEO to award a player with significant and well known injuries a top range contract when it was crystal clear to all concerned that the player would hardly be able to kick a ball for the club

     

     

    That to me is not on!

     

     

    TB might have been a nice guy but he was a pretty poor manager

     

    He was a favourite of the MSM because he was not rated by the Hun establishment as a threat

     

    Good heavens -how many times before a game against the Huns would TB deliver the old

     

    “Walter is such a great manager” crap -it was embarrassing!

     

    The compliment was of course never returned!

     

     

    Those who prefer to live in denial are entitled to their views

     

     

     

    HH

  14. prestonpans bhoys dam justice for the 5 on

    MattE

     

    22:02 on

     

    27 February, 2014

     

    EPL Side win in Europe shock!

     

     

    Think Spurs have scored more goals than the rest of the whole lot!

  15. iPaddy McCourt Supports Wee Oscar on

    “The board has previously dealt with queries around the CLUB’S finances by giving categoric assurances that there was sufficient funding until the end of the season. We now know that these assurances were untrue and that emergency financing has been put in place on terms that are not commercial and that indicate the desperate financial position that the CLUB is in.”

     

     

    “1. Will the board provide legally binding assurances that the CLUB is a going concern and has sufficient funds and/or facilities in place for the 2014/2015 season.

     

     

    2. Will the board undertake that none of the proceeds from season ticket sales will be used to settle any financial obligation that arose prior to receipt of the season ticket monies by the CLUB.

     

     

    3. Will the board confirm that the CLUB assets continue to be unencumbered.

     

     

    4. Will the board explain its previous statements that the CLUB had sufficient cash resources to last until the end of the season.”

     

     

     

    Gosh, anyone reading Mr King’s statement would be forgiven for thinking that he views the club and company as one and the same.

     

     

    I wonder what he thinks it was that entered liquidation in June 2012?

  16. billy bhoy

     

     

    21:57 on 27 February, 2014

     

    “Why didn’t our Board take up the option of a loan of £10m at 1.55% and offer it to Sevco at 10%. Everyone’s a winner!”

     

     

    2 reasons:

     

    (1) they don’t pay you back

     

    (2) everything of value is already in hock

  1. Pages:
  2. 1
  3. ...
  4. 10
  5. 11
  6. 12
  7. 13
  8. 14
  9. 15
  10. 16
  11. ...
  12. 22