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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GFTB
Hello, I agree on Spurs, a good side who playa fast pressing game.
As for the menu….am having a day away from the kitchen. Got home late last night, a wee bit refreshed so have a bit of a head today. Today I will be letting the good people in DaClaudio’s restaurant feed me and the Mrs.
I will be driving but may have a couple of beers when I get back in when watching the football.
BobbyMurdoch,
Just watched the first goal again. Bang on. Teamwork.
Away to watch Leicester. Willing them to the title.
M.
HEBCELT
Great wee story.
Nye Bevans
My wee niece had the big winner yesterday, the reason being my wee great nephew was born on the 29th June this year…..
Picking numbers is the logic, unfortunately far too many nephews, nieces and greats 33/1 wouldn’t have covered my stake
Jmccormick
I should have realised there was a reason, enjoy your meal
I see Davie Provan is added to the long list of ill informed hacks with his nonsensical column this morning.
This Rangers “punished” line is staggeringly ill informed.They weren’t “punished”, they didn’t bloody exist,
GERRYFAETHEBRIG
Sometimes yer better aff leaving the picks
tae the wummin and weans.
Ahh! The innocence of youth…Hun and his boy walking behind me in Cambuslang
there,young lad asks pappy.” Da, we don’t need Waggy to beat Celtic next week,do we?
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Who’s gonna take the pens young hunmeister?
Gerryfaethebrig
Thankfully I don’t have to listen to the likes of McCann! I’d suspect he’s trying to big him up because he wants him sold :-)
GERRYFAETHEBRIG on 10TH APRIL 2016 1:30 PM
Nye Bevans
My wee niece had the big winner yesterday, the reason being my wee great nephew was born on the 29th June this year…..
Picking numbers is the logic, unfortunately far too many nephews, nieces and greats 33/1 wouldn’t have covered my stake
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Missus was the same mhate,her birthday and a Take That fan, £5 on Last Samuri
and £2.50 ew on winner….She says to me on way out “Will I put £5 ew on it?”
Me knowing everything aboot hoarses told her not to bother as it had little chance :O(
BMCUW
Oops, sorry old chap! :-)
Off out.
When did Leicester City sign Manny Pacquiao?
Vougepunter
You are not alone in knowing nothing about horses, I also know nothing about fitba and still put on coupons
HT
McCann is very complimentary of Kieran, by the way it’s not the likes of him that would be trying to sell our best players, that could happen nearer too home, but until then I prefer balanced reporting and fair assertions of our players rather than the usual guff
GERRYFAETHEBRIG
Thanks for the reply.
The spin on the ball took the ball to the Motherwell player.
That was it. Oh and they scored, which is the real “it”.
I’ve watched this over-analysis and resultant negative criticism take root in our support. It’s not exclusive to Celtic supporters and I’ve done it myself too.
The over-analysis is becoming the modern day equivalent of the Daily Record’s pre-match negative Celtic story.
Wouldn’t be surprised if it’s a theme the media pick up on this week. They don’t have to fabricate the negative headlines we provide it ourselves these days.
We have a guy who has been passing the ball well just now. A combination of good performances and his appearance in the Belgian national team appear to have boosted his confidence and we are seeing him develop into the player hoped for. The focus and demands placed on Celtic players by our support, is often counterproductive as we throw perspective out the window.
Our captain is being hampered by more than his injury just now too.
In short we are too quick to criticise and it works against us.
http://videocelts.com/2016/04/blogs/latest-news/man-of-the-match-ripley-believe-it-or-not?
Highlights of yesterdays game on ere.
Big cup winners
I know plenty of Celtic fans who criticise far too easily, some are happier criticising more than praising, which is their right, but even though we all support the same team our Celtic experiences are all watched through our own eyes, I love seeing bhoys like KT doing well, keeping an experienced World Cup internationalist out of the team, long may it continue and would love to see more, for the record Izzaguirre has been great for us
Right aff oot as well……
Sportsound said the Petrofactor cup is a dress rehearsal for the Scottish cup final……… It’s laughable how much our media try to big this team up
Enjoy the good times
macjay1 @ 7:45 am
“From memory , I think Ronny has admitted that he should have considered evolution rather than revolution.
Quite an admission . ”
One of the problems of being a gentleman of more advanced years is that memory for recent events can be unreliable and, if you then proceed to draw conclusions from it, you subject yourself to the GIGO principle.
What Ronny Deila actually said was near to the opposite of your recollection
Direct quote
I am sure he believes he has made many mistakes but he never intended to have a revolution.
He is not guilty of being a red under our bed
THE_HUDDLE on 9TH APRIL 2016 11:09 PM
NatKnow on 9th April 2016 11:06 pm
GORDON64 on 9TH APRIL 2016 10:33 PM
There’s a guy in the Masters called Smiley Kaufman. What a great name.
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That is a good name. One of my favourites of recent years was the President of Nigeria – Goodluck Jonathan.
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Or Tokyo Sexwale – South African FIFA representativ
>>>>>>>>>>>>>>>>
Wolfgang Wolfe of Wolfsburg
A Warning!!.. Beware all in the Fellowship of Mankind..
Dark clouds are gathering on the south side of Glasgow.. the atmosphere has changed and there is a mood and a smell of something unearthly..
For the last 20 minutes, a trickle at first but now a steady stream of orcs decending, gathering, joining up.. ugly and menacing, singing and chanting, they march towards a meeting place somewhere off Curtis Avenue. I fear the worst. Their burrows have been hives of activities for the last few hours, but now the orcs are pouring out, and heading to middle earth!
Lock you doors and stay inside. Gawd help us all!!!
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Macjay Now Revving Up The InterGalactic Cement Mixer…
As We Speak…
Just Waitin’ For His Co-Pilot Tae Arrive From Brisbane….
Come On The Leichties….!
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I just can’t imagine the huns would want their name on this cup, all u punters out there get yer dosh on the “wee” team
Exslaemuirbhoy don’t know if you got an answer to your question re fixtures post split. They were due to be announced tomorrow but due to the ICTv Hearts game being rescheduled for Tues may now be Wed. H H Hebcelt
HEBCELT on 10TH APRIL 2016 2:32 PM
Thanks for that Heb, Tynie away first game gaurenteed
Not a great watch this EPL game
Hampden pitch to be tore up tomorrow
and a new one for next weekend…wtf!!!
HEBCELT on 10TH APRIL 2016 2:42 PM
Not a great watch this EPL game
It is not that bad considering it is a build up game to the Petrofac Cup Final.
Only 15 more minutes until kick off time in the biggest game in the history of football.
Red, White & Blue hat, Check
Red, White & Blue face paint, Check
2 bottles of Buckey, Check
Up to my knee’s in Fenian blood, Check…..Well it was only my neighbours cat but, i promise ye, it was Fenian
Reality…..Erm…. I mean Dole Check!
Some shocking football on show from both sides
He does it once again…..Powerful!!!
Ooops cracking goal – Vardy – who else?
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Eh….?
Supercharged Vardy Obviously Had A Co-op Skwerrr Sausage At H/T….
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Auldheid
I’m very glad you have relied on your better instincts and avoid meeting this guy. I’m sure your identity would be circulated shortly afterwards. Like most others, and as a signatory, I hope your efforts with the others will achieve a positive outcome but even if it is ultimately not successful we know that you tried and left no stone unturned. For that we should all be grateful.
Walking Eagle I think you’ve flogged that one to death, let it RIP
Diddy cup final live on US tv …..mmmm
LOL
OVERSEASBHOY on 10TH APRIL 2016 3:01 PM
Diddy cup final live on US tv …..mmmm
You mean they actually found a slot to fit in around the barrage of television advertisements?Now all i’m wondering is whether it’s a Squirrel or a Walking Eagle.
Pitch is a joke
OVERSEASBHOY on 10TH APRIL 2016 3:07 PM
Pitch is a joke
Pitch may be a joke but the fact you’re actually watching is Hilarious. I was of the belief that the showing of the Petrified on U.S Television was some kind of punishment on Americans for Supporting The Donald in his push for the Presidency.
Let iz know if your eyes begin to bleed
Dreadful stuff – back to the high school lacrosse