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MIH poison, poetic history, value of good players

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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. The Resolute Mr Pastry on

    There have been dodgy dealings at the SFA in the past, and there may be a few yet to be uncovered – but please apart from the cheats and fraudsters down Ibrox way, can we put to rest the notion of other clubs in Scotland are in a conspiracy against Celtic.

     

     

    Tonight proved to me that the game in Scotland, when it comes to nearly all the clubs, is clean and fair – now when it comes to the Ibrox dwellers and their sympathysers in the SFA…..that’s a quite different matter!

  2. Hopefully after we get a result tomorrow, I’ll thank the hertz fan in work on Monday for doing us a turn and watch his face;)

     

     

    That’s what it’s all about :)

  3. The best team in the country wins the league.

     

     

    I don’t have letters after my name, but that is really simple and a fact

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

    Michael Stewart talking sense…

     

    Rooney gutted

     

    craig end is a bitter kent

  5. Seldom post and hardly even lurk much nowadays. On tonight and reading back to see any news re Hearts/Aberdeen.. Caught some complaints about supposed poor taste posting but noted no comment re WEEMAN67, post @ 6:53…

     

    Is that deemed acceptable on the brand new shiny CQN?

     

     

    TBM

     

     

     

    TBM

  6. Captain Beefheart on

    Almore, I totally concur. We have been rotten. I really want Ronny to succeed but he hasn’t been helped by our dreadful strategy.

  7. Blast from the past with David Begg’s tweet on the “demise” of the Dandy Don’s putsch on Celtic’s title tilt……………………………

     

     

    He was “aye ready” to denigrate any Celtic positive…………..

     

     

    Guid riddance Beggy.

     

     

    We feel your pain.

     

     

    HHH.

  8. Great result, takes pressure off us big time. Thought Sheep were going to run away with it after 10 minutes, but thankfully MCGinn missed a few sitters. Have to watch out for Marvin Johnson tomorrow . He shredded our defence in December. Think LOGAN is about the best right back in the SPL.

     

    HH. Will be much more relaxed about the run-in now.

  9. foghorn leghorn on

    almore

     

     

    “Realistically, tomorrow is a must win for us.”

     

    ——-

     

     

    ehhhhh?????

  10. TBJ has no trust in the PLC on

    Dee light head with tonight’s result … had a strongoing feeling the hearts would pump the sheep .

     

     

    I commented on Juan ma at the weekend … better than any of our strikers with the exception of LG. Cost buttons and getting paid a pittance. Not saying he’s top class but why can’t we pick up someone like that instead of no marks .

     

     

    Same with the big centre half… solid … wins most high balls and no nonsense defending.

  11. SFTB

     

     

    I am happy mate will be happier tomorrow if we win. Still not pleased with what I’ve watched this season though.

  12. Amazing how a result of a football game can change your whole mood.

     

    Yep I know we have huge problems and tonight changes nothing in that regard but just at this moment I couldn’t give a sh*te.

  13. Celtic 5 points clear with a game in hand and a full hoose expected at Fir Park tomorrow.

  14. Adi_Dasler

     

     

    Sorry mate I was offline there for while.

     

     

    Yip, they have desire…. I didn’t factor in though that they are pretty sh@te.

     

     

    That said, I’ve seen enough of us this season, to still question our will to win. I went to all the Europa league home games this season, and what I witnessed was weak. No stomach for the fight.

     

    Tierney excluded

  15. weebobbycollins on

    Barcamole…you are very very right. I missed that first time round…poor stuff!

  16. glendalystonsils on

    Surprised the BT sport pundits are not wearing black ties for the post mortem . Certainly a funereal atmosphere.

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

    Hearts have been good this week. Effectively given us 6 points. Still hate them..

  18. Back to Basics - Glass Half Full on

    Evening all. Up at lennoxtown tonight – no internet. Interesting therefore to come home, see the result then check out the comments on cqn when the score was 0-1.

     

     

    Bigshuggy – I’ll make a prediction that saidi janko will be the best right back in Scotland next year.

     

     

    Hail hail

  19. Captain Beefheart on

    Corkie,love your enthusiasm for Celtic. I used to have it. People from different countries used to always ask me about Celtic. Nobody does anymore. Yes, we have financial disadvantages but that doesn’t excuse some shambolic strategical decisions at Celtic Park.

  20. Mr Pastry

     

     

    Are all the other clubs happy with the SFA favouring one club ?

     

     

    If not why are they not voicing their displeasure ?

  21. The Good Ship Celtica on

    TBM!

     

     

    Surely the most obvious’Don’t feed the troll’ in the history of the Internet mate?

     

     

    TGSC,

     

    Sailing On….

  22. glendalystonsils on

    Hopefully winning the league and cup (even pumping the huns en route) will not disguise the serious thinking and work that has to be done to get us to the level we should be at. Sometimes temporary euphoria can be a dangerous thing.

  23. Charlie Gallagher on

    Hello CQN. I am with big Yogi and Tommy Gemmell and Todh McKinlay at the CSC dinner in Stirling.

     

     

    It’s been great night, we have thoroughly enjoyed ourselves and it’s been a great turn out. Biggest cheer of the night was for the score from Tynecatle. The Questions and answers were great with Yogi and Tommy on great form.

     

     

    I will be on CQN next week to talk about my book which I’m excited about and want to thank CQN for helping me with.

  24. Does tonight’s result mean, and I’ll paraphrase tonight’s Evening Times, the “Last game of the season after the split could very well be a league decider between Celtic and Aberdoon” actually happen on the 1st game of the split and still be what’s known in the eraser cemetery as a dead rubber?

  25. Shay Logan is no better than Darnell Fisher.

     

     

    In fact with Logan for the off…McInnes would be daft not to consider Fisher as a direct replacement

  26. theglasgowcelticway on

    Have to admit to being concerned about this weekend after mid week. Time to go out and nail this championship. Will they do it tomorrow? I’m not too confident but the fingers are crossed.

  27. TBM

     

     

    That poster has been regularly called out for his attitudes.

     

     

    Tonight, I think CQN decided to ignore him.

     

     

    It is always a difficult decision but I would not mistake the lack of comment or reaction as approval.

     

     

    There are a few (or one hard working) posters who stray into areas that are more than casual racism but there’s not one of them that can meet with CQNrs in public and admit to it. The vast majority here are decent people and don’t condone anything like that.

     

     

    The Donald has been unraveling again and seeking a reaction. I would not care to try and talk sense into him either when he is in that phase of his cycle.

  28. Said the Mini’s had a good chance of beating the Sheep. Also said before the Dundee game I would be happy with 4 points from the next two games. Think I am going to get my wish. Eight points clear with five games left after tomorrows game.

  29. Back to Basics

     

    Really impressed with what I have seeing of Janko and wonder why he has disappeared off the scene.

  30. Charlie

     

     

    Hail Hail

     

     

    Have a great night look forward to you coming on the blog.

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