MIH poison, poetic history, value of good players


If you’ve been here for 12 years you’ll know that Celtic Quick News started because there was a great untold financial story going on in Scottish football. Celtic were castigated by many, including a large portion of their own support, as “prudent”, while Rangers, then under the majority ownership of Sir David Murray, were lauded for their willingness to ambitiously push the boat out.

But there was a problem. Celtic were losing millions every year. Rangers were losing a lot more, £35m in one season alone. David Murray’s company, Murray International Holdings (MIH), were ½ a billion in debt to Bank of Scotland, and rising.

By this stage MIH’s steel business was dwarfed in significance by its property portfolio. They borrowed from the bank and, perhaps with an eye on the fantasy Ibrox Super Casino, gambled that the market would rise inextricably.

For a few years the debt kept rising. “What’s the problem?” many said, if the Bank are prepared to lend MIH and Rangers, their strategy must be sound. These were difficult times to be preaching financial responsibility in Scottish football, but the reality was written in mile-high font for many of us. “They’re going to crash and burn”, seemed inevitable.

Today we read the news that MIH are, like Rangers before them, finally liquidated. Ignore the reported £200m that Lloyds Banking Group (now owners of Bank of Scotland) lost, that’s just the loose change. The Bank had swapped debt for shares in MIH as clouds gathered. The true financial cost to Lloyds (significantly owned by UK taxpayers) is vastly higher.

Much of the story of David Murray will never be told, not while he’s alive, anyway, as it took place well away from verifiable sources. This might change after he’s dead. The one redeeming positive he brought to football was to end the sectarian signing policy at Rangers in 1989. For that he should be lauded, many before him had the chance to do the same but chose not to.

That aside, the influence of Murray and MIH was poisonous to his club. He sold out for £1 to a liquidation expert in May 2011, against the wishes of his own board’s advisory committee, as his club claimed its last ever league title. The rest, is poetic history.

As luck would have it, tonight I’ll be with some Celtic supporter friends.  We’ll raise a glass to Sir David and his legacy.  Thanks for all you achieved, David, it could never have happened without you.

Erik Sviatchenko is a lesson in the difference good players make to a team. He’s started 11 games since joining in January, we’ve lost four goals over that period. In our previous 11 games we lost 12 goals. His impact on team performance has been phenomenal.

We’ll miss him tomorrow – so should make tactical changes to accommodate the perceived risk.

Motherwell are on fire. Less than two months ago they were in the play-off spot. Now they need just one point to guarantee a top six finish. They will battle every second for that point. If we are going to win tomorrow’s game, we will need to put in our of our best shifts of the season.

Time to get it together, Celtic.

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  1. —-


    If Lyin’ Ted Cruz wiz wearin’ a Sheepies Tap…



    He could shoot Juanjo deid…



    An’ no even get a bookin’ fae McLean..






  2. What a relief. Nye you are officially my favourite poster.


    Please Please Please, Celtic don’t lose another opportunity,

  3. Joe Filippis Haircut on

    Well im delighted to be wrong still 5 points ahead.Big game tomorrow if we bag the points there will be no way back for the Dons.H.H.

  4. always the negative point of view ‘if celtic slip up tomorrow’ not we could go further ahead, from commentator.

  5. thomthethim for Oscar OK on

    It has to be said. Well done to a brave Hearts performance.



    I thought the officials should a bit of leaning northwards in the second half.



    That’s two clubs who were bug infected who have done the Dons.

  6. SFTB



    Getting your dig in early I see. You stick to your facts I’ll stick to my opinion. Fair enough?

  7. Gerryfaethebrig on

    Oops looks like Ronny might get 2@row…..



    Not read back and no intention to read forward



    Enjoy the ride and …… back the bhoys…..is it



    Faithful through & through or keep the faith



    Ah well

  8. right attitude and desire to win tomorrow now required, lets be at them from kick off.

  9. weebobbycollins on



    Ash Taylor… Dreary me what a big lump of poor player he is…



    Cultsbhoy….don’t exaggerate…have you not seen his wife?

  10. Joe Filippis Haircut on

    Well im off to bed a happy Bhoy so sweet dreams to all you Bhoys . H.H.

  11. Thank you Hearts. Ronny has to be one of the luckiest managers in our history, no thanks to the board.



    Realistically, tomorrow is a must win for us. If we do win, it would be nice of the board to announce ambitious plans for the coming year and then to deliver on it.



    The current squad, under Ronny, is not good enough to compete in Europe, imho.

  12. Motherwell full of flu, Hearts mad with stomach virus.



    Just think about how many they will lose if the next team threatens them with Beri Beri

  13. Delighted with result tonight – Seeeeeek Sleekit(s)






    And, what was THAT pish earlier………..?

  14. foghorn leghorn on




    caught the last 20 minutes of the sheeps



    how sick did the commentator sound and the guy in the studio when the whistle went



    and the 2 offside decisions buy the linesman when the diet player would have been 1 on 1. the 2nd one he was in his own half!






    at least most celtic fans will be happy tonight



    some still wont be



    h h

  15. Nye Bevans' rebel soldier on

    CORKCELT…….the Hail Mary’s were tripping


    aff me,as we say in this part of the world.



    A big weekend of sport ahead,Celtic game,


    the Grand National, Leicester City and the





    I’m off tae chill wae some Irish folks songs



    Goodnight Timland.

  16. Craigellachie10 on

    Three wins and a draw in last six and we are champions. Cmon the hoops! Let’s get three points tomorrow to get the show on the road.

  17. Just waiting on Shortbread rolling out the late Richard Dimbleby (compare of state funerals) to provide the ‘closing’ credits!

  18. Go on Celtic.go for the jugular. against Motherwell to morrow. I Would play Commons.And Christie. Allen. from the start.Bitton and Johnson.on the bench.

  19. Aiden Bhoy



    Allow yourself a wee smile.



    You were worried that the league race might be too close for you to feel comfortable.



    Well tonight’s result should set your mind at ease.



    Me? I’d have been just as confident if the sheep won. But I have predicted an 8 to 12 point winning gap all through the season.

  20. the long wait is over on

    Really impressed with Juanma at the weekend.



    Even more impressed tonight.



    Holds the ball up far better than anyone we currently have.

  21. eddieinkirkmichael on

    Desire, am I fecking glad we don’t have the same desire that a poster was saying Aberdeen have in abundance.

  22. Well done Hertz.






    Never thought I would ever say that.




  23. Jungle Jim Hot Smoked on

    As I find it hard to believe that any fan of Sevco would regularly post on here, I am left to conclude that some Celtic supporters are not my cup of tea. The happiness experienced because of our main rivals dropping points is diluted within seconds by some posters who quite obviously derive no pleasure at all from supporting the wonderful Glasgow Celtic.


    Goodnight all,




  24. Captain Beefheart on

    A crap Aberdeen team doesn’t change the fact that Celtic are currently dire. Nor does it change the fact that we have one striker and little chance in Europe.



    Big changes needed at Celtic Park.

  25. We need to have a fit and competitive midfield tomorrow , no standing back waiting on it to happen make it happen, keep McDonald away from the box as he will back in and will go down for anything

  26. CultsBhoy can not relate to Celtic Board ambitions on or off the park on

    I’ve said it before – Neilson is a weirdo but he’s one to watch..

  27. weebobbycollins on

    I suppose our defenders will be well aware of the threat from Well’s Johnson and of course McDonald…and young Patrick, if he plays, must be told…” Aye, that wan there wi the grey herr, that’s Lasley, so watch out for him!”

  28. Goodnight ghuys ‘n ghals.



    Always a pleasure.



    Oh and I expect all the negatonians are in their beds.




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