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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TBJ..
There was two Hertz fans, one bit the bullet with his big brothers.
The one left won’t go to parkhead because of the limited view ;)
6 games left
10 points from them and the title is ours again.
Who would bet against us?
Who would dare question our credentials after we beat the Steelmen tomorrow?
In Ronnies we trust
https://www.youtube.com/watch?v=LWz0JC7afNQ&nohtml5=False
The Killing Moon
Echo and the Bunnymen
5inarowCSC
Aahhhh…….it’s Friday right enough. Yogi……it absolutely broke my heart watching you come on for Crystal Palace and score that screamer……it should have been for US
Fritzsong: Not sure what way to take that.
SFTB…
Many thanks for your explanation re (my) perceived failure of posters to challenge such guff from that party but he isn’t really known to me insofar as I don’t recall exchanging views or opinions with him previously…
Agree re the donald; to ignore his drlvel is probably best way all things
considered.
Regards & Hail Hail
TBM
A joy to hear from my Heroes tonight – Tommy, Yogi, Charlie – for this Bhoy in the 60’s you made every week an adventure.
Just one thing Charlie, since this is your first post – excuse me…… Are you a Hun?
Hail hail
Am more
It’s not just happy flippers like you I can’t stand. Happy clappers are every bit as bad.,
Right who brought the food?
We now have a bear to feed as well. One that was far smarter than the average bear
https://pbs.twimg.com/media/CfeF7o0WQAAjvcu.jpg
One for the new posters
LegendsCSC
BGX,
Are you a Celtic supporter or simply an SNP diehard? Budge has never done anything but denigrate Celtic. I have no respect for her. Compare what she said about us and the deid team’s supporters? Despicable. Away and bile yer heid. This is a great night to be a Celtic supporter.
Good God, I have tears in my eyes here, 3 absolute Legends. God Bless ye, this turned out to be a great CQN night after a dodgy beginning.
Ye Gods.
Charlie, Big Tam and Yogi on at the same time … ?
What is this stuff I’m drinking tonight … ?
Great to have you on board, guys.
VIP
https://www.youtube.com/watch?v=W4ga_M5Zdn4&nohtml5=False
Turn, Turn, Turn
The Byrds
HH
Lisboa67CSC
https://pbs.twimg.com/media/CfeFiQrWIAEcmWZ.jpg
Best Ever
ThanksBhoysCSC
One of my boyhood memories – buying ‘The Big Shot’ in the early 70’s. Stillhave that book – love you big man – massive influence on my childhood!
Lots of love to Big Tam
Happy Flipper
Gordon64………How you doin?
Ruggyman 10.23
I wouldn’t have Johansen anywhere near the team. He is utterly hopeless at tackling so much so he is almost guaranteed a yellow card every game .Once he receives the yellow he then becomes less effective for fear of receiving yet another. We cannot afford to take the chance especially as his overall play is way below that of last year. I personally would give Christie a start.
https://pbs.twimg.com/media/CfeCtszW8AA47eh.jpg
Stevie takes a hit…
HH
THE GOOD SHIP CELTICA…
Thanks.
No worries…
Regards & Hail Hail
TBM
Great to see the Lions on the blog – can’t imagine another club who’s legends get involved as much :)
HH
Ps Thanks Hearts aha
Without big Tam it neverwould have happened
https://pbs.twimg.com/media/CfQ670UXIAQ8SrG.jpg
Some fine Celts here
HH
Gooood evening CQN, a wee by out with the Jambos winning tonight, we need to seine the day, tomorrow.
Keep the Faith!
Hail Hail!
Not too concerned who is round about him as long as we have Rogic leading the midfield band.
Assuming he has recovered.
Feed the Bear. 1 minute in.
http://youtu.be/Uo-tmSgVZtU
For its a grand old team to play for and its a grand old team to see.
Parkhead Cum Salford
..Im Not an SNP diehard in Anyway, Im a Indy Diehard in Everyway.
.Hope That Cleared That Up…
.May i Ask You a Question…
And it Is..
WHY IS TONIGHT A GREAT NIGHT TO BE A CELTIC SUPPORTER….just asking
Jeromek67 on 8th April 2016 10:39 pm
I wouldn’t have Johansen anywhere near the team. He is utterly hopeless at tackling so much so he is almost guaranteed a yellow card every game .Once he receives the yellow he then becomes less effective for fear of receiving yet another. We cannot afford to take the chance especially as his overall play is way below that of last year. I personally would give Christie a start.
————–
I assume you’ll be dropping Brown as well, someone who picks up far more yellows than Johansen
Dixie Deans looks like Ted Rogers in his 321 heyday
by out, predictive textin…:), meant bonus.
Keep the Faith!
Hail Hail!
https://www.youtube.com/watch?v=pOXq_vLCjco&nohtml5=False
I Can’t Turn you loose
Otis Reading
HH
Charlie Gallagher
SCULLYBHOY on 8TH APRIL 2016 10:40 PM
Without big Tam it neverwould have happened
———————————————————————
I disagree….I’ve watched that gemme a couple of times and if it wasn’t for the net
that shot would have ended in row zzzzzzzzzzzzzz.hh
Fritzsong: Still confused. What is a happy flipper?
SFTB: I enjoy every win and I accept that we will be defeated. I just don’t feel that the current team is performing to its maximum potential.
https://pbs.twimg.com/media/CfQ5uNtWAAEN9m8.jpg
CELTIC 68-69
HH
https://pbs.twimg.com/media/CfQ5bT3WIAAxMS7.jpg
BOBBY
LegendCSC