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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Leicester fans walk out in disgust at yet another long-ball goal.
Reminds them of the terrible times they suffered under that awful Martin O’Neill, the last Celtic manager to win 5 -in -a-row. (do I need to show my working?).
You can watch the crowd at the Petrofac Final playing the Ibrox equivalent of Where’s Wally?
It’s called- Where’s Handsome Hunny? It will keep you amused for millennia
Spotting a Peterhead fan whose face is not yet fully windblown and covered with seagull droppings, does not count
Ally Glichrist scores OG .. Probably a Hun
Roddy Forsyth fair creaming his pants there – “52,000 to see a lower-league cup final”
Man’s a legend…..
Warburton doubtless be credited for masterminding Peterhead OG
Leicester City win again,not pretty but hey ho!!
Sunderland looking doomed.
Anyone who still doubts that the Foxes’ name isn’t on the EPL trophy didn’t see the sitter Jack Rodwell missed for Sunderland not long after Vardy’s excellent finish for Leicester.
Niallmcginnesque!
Which channel are the hun on?
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Possibly Sneaked A Wee Tunnock’s Teacake Too….?
Look-Away-Ranieri….
Formidable..!
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GTTF
Wonder if Forsyth has bought into the new klub, think he lost in the old club
As for the game being live overseas, it might be BBC Alba is on all the time, enjoy the fact the lower leagues are being promoted on Alba……I find it pretty amusing
ALBA
Gotta love Leicester
COOLMORE MAFIA on 10TH APRIL 2016 2:16 PM
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
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Keep ’em coming! Maybe we should start a list?
Nye Bevan 142
Lovely move by Leicester, intricate passing, ‘keeper saves weak shot.
Showing how to keep the ball in the dying minutes when a goal up.
Then Vardy goes through one on one, and scores, as I shout ‘Go to the corner wi’ it!’
Houston Texans’ Linebacker Whitney Mercilus.
Mads Timm
Ex Man U
HJ
There is some lower league final on BBC Alba. One of the teams wearing what looks like an old Huns strip ;)
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Vardy Needing Tae Work On His Goal Celebrations,Though….
Time For A Skwerrr Sausage & Some Of They Crimson Columbian Chookies Eggs Fae Bonkle…
Absolutely Marvelous….!
As David Coleman Would Say…
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HEBCELT
Cheers pal, already found it,only been watching
for a couple of minutes,both set’s of player’s? look
as if they’ve got invisible bag’s of coal on there back’s.
Sevco deid against Peterheid. Ibrox for sale.
Nat Know
Add these:-
Maida Smellie – Ayrhire & Arran Health Board
Prof. Roland Butter
Dr. Joelle Rollo-Koster
Moe Lester
Ray Sheo
Rory McAllister still to score for Peterhead…
He’s at least Chsmionship standard on his game.
St Mirren offered him £1k week but opted to Stay at Peterhead as between his job and wage at Peterhead he’s better off..
Well done to the foxes.
Their central mids are fantastic.
Drinkwaters pass for the first goal was Pirloesque.
A long diagonal ball that is seen rarely.
Kante is the star of the season.
He never stops running and has an incredible ability to stick with ball.
If the engine room fires your team will fly.
This is the area that we need to address.
Lydia Kettle
Justin Case
Cultsbhoy
Jim McInally said earlier that Rory McAllister was far better than some other players who he worked with and played In the Spl, he also said he would benefit from full time training but the player is happy where he is ……
Taveres scores a cracker for the hun.
Wasn’t he big in the disco scene back in the day?
GFTB
Any time Forsyth annoys me (which is about any time I hear him!), I think back to this quote from him from 2010:
“The club is also likely to be valued at more than its current £41million whenever the global recession retreats”.
No prizes for guessing the club (clue – that was in the days BEFORE holding companies existed).
Tavern ire not Tavares. He’s the Maribor striker.
VOGUEPUNTER on 10TH APRIL 2016 1:36 PM
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?
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Griff?
Ach Tavernier.
GLASSTWOTHIRDSFULL@3-47
Poor fellow was only trying to prop up his shareholding.
GERRYFAETHEBRIG
Mcallister will give full time a go soon.
If St Mirren had offered relocation he’d have gone. He’s finished his apprenticeship now so he’s got a safety net in place.
I believe you’re allowed to add a star to your shirt if you win the Petrofac Challenge Cup.
GTTF
Was that quote “valued” or “debt” people who I used to work with ploughed into their share issue, normal punters, do I feel any sympathy……. Laughed my bahookie off, fools and their money, by the way this coming from a not so good gambler, these days are good times…am looking forward to them been ripped off again…….
Spurs v Man Utd ko delayed till 4:30, that
means we can all savour more of the fitba
feast at Hampden.
The European Cup: A trophy on which Rangers’ name will never appear.
The Petrofac Cup: A trophy on which Celtic’s name will never appear.