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.
2,883 Comments- Pages:
- «
- 1
- ...
- 62
- 63
- 64
- 65
- 66
- 67
- 68
- ...
- 76
- »
Mr Pastry
We all have opinions .. But empty seats are a fact.
You are only a leader as long as you have followers…?
Now 1-12 to 0-7
Today is the day for me……. I know the same flies different excrement, but for me today is the first time in my 45+ years (takeaway the first 5 as I was unaware of them) that they are definitely not the same entity, I am actually smiling about “we are the champions” belting out….. It will be different next week for one reason, and one reason only Celtic are playing, my team don’t decide we play but when Celtic are involved that’s what matters…..would have loved BBC Alba to have put the queen song on in Gaelic
Enjoy the good times
Now instead of watching Alba I am in the garden drinking kronenbourg in the sun………
CQN?
Or Blowhard Central?
Page 112 in the Panama Papers mentions the funding for res 12. It’s just after the paragraph about dermot.
I’ve never been to mass.
Pastrie fella
A training ground at a very low price…..
Can you name the price ? Or are you thinking about your fabled land deals
Watch out for that mask slipping
God bless fellow Celtic fan
The battered bunnett
Spot on regarding boyota , needs a full season and pre season under his belt before we can make proper judgement.
After what he’s been through so far I’m just delighted he’s stayed free from injury as much as he has. I think we will have a good centre half on our hands. But there is more mistakes to come before that
CULTSBHOY@4:57 – You split-hairs on PL salary – read the accounts – I do, very carefully twice a year.
What exactly are Ian Livingstons views on anything at Celtic? – you haven’t a clue and you want to hate and discriminate because of his politics – that fascism.
We have a large squad, with twenty international players from eleven countries and a wage-bill greater tgan the rest of Scottish football added together – our ‘on the field’ failures are dow to the foitball department, NOT, to lack of investment.
EXILEDTIM – I DO answer points – you quote a previous answer from me in a mischevious way – in that answer, I did apologise for missing one of your points because by the time I had read it, the bolg had moved on a day or so – you accepted my explanation at the time, but now that it suits your ’empty’ case, you decide to ‘dredge it up’ – pathetic!!!
Think I’ll leave yees tae it.
GIGGSY
You’ll go to the Bad Fire!
TheOriginalSadiesBhoy on 10th April 2016 4:02 pm
The Petrofac Cup: A trophy on which Celtic’s name will never appear.
*don’t know about that as it’s being revamped tae include big teams colts. mibbees our development squad will win it next season.
Re Boyatta
He’s in a strange position given the two 1st choice centres are injured. Not sure if he’s the answer- in a way depends on the question. For many the question is always going to be ‘are you an adequate replacement for VVD and JD.. In which case the answer is always going to be No.
The frustration of many fans is that V VD and JD proved to be a very short term ( although highly effective) solution to a longer term challenge.
It takes a switched on kind of player to be Celtic central defender in the usual run of things. For long periods they should be on stand by as traditionally weake the game to the opposition 90% of the time. Is Boyatta switched on?
I’d convert Rogic or Biton both are good enough and of a size.
GIGGSY on 10TH APRIL 2016 5:08 PM
Page 112 in the Panama Papers mentions the funding for res 12. It’s just after the paragraph about dermot.
I’ve never been to mass.
———————————
I was told you stole the chalice and pawned it for cheap wine.
GIGGSY
This is a Club open to all and what your religious beliefs (or none) is not a matter for anyone else- so long as you’re a good Tim.
Enjoyed your reference to Panama Papers. lol.
Wish I had thought of it earlier today. HH
saltires en sevilla on 10th April 2016 11:15 am
Clash City
Leigh’s first goal. First thing I thought – we are going to win this league now!
Then -‘that booking is going to be costly’ – I didn’t say it like that :@ – agree a fine is needed to remind anyone else similarly inclined.
*Yesterday I watched wee brillo pad heid start the day in the last group a couple of strokes behind the leader.
Not having made a birdie he looked up tae the heavens and smiled at the 18th as he managed tae get on the green with what looked like a rudimental putt tae get his birdie.
He messed that up and looked like he wanted tae snap his putter in two. Such are the feelings of a pro.
Yesterday our wee talisman who had been on a bit of a slump was given the opportunity tae end that with a penalty. Penalties can be a bit stressful and even the best takers have been know tae miss them. Big Tam took 37 and missed 3 and ours, the countries and even the UK’s finest ever goalscorer James Edward only took 3 penalties and missed them all. Strikers are predators and not paid to think.
That did not deter the wee mhan and he battled away finally being rewarded with a brace. After he scored his first this could have been akin tae mcilroy sinking that putt at the end yesterday.
So IMHO he was entitled tae whip his shirt off and run tae the crowd, a stupid rule which seemingly affects us more than other teams in the world’s best wee bigoted country.
Mr Pastry
No, I didn’t accept your explanation at the time, cos you didn’t give me one re the points I asked, you skirted round the issue cos you knew I had you banged to rights, you are the one who is all for getting your FACTS straight.
It’s not an empty case, it’s a fair point and I didn’t dredge anything up, just pointing out a few facts you love so much.
HH
Surely us no making the Petrofac Challenge Cup Final should be the final nail in Deila’s coffin… I mean come on! Are our board paying attention?!?!?!?
Nye Bevan think I’ll join you gives the dry boak. H H Hebcelt
Delighted that everyone seems to agree on Martin O’Neill being the last Celtic manager to win 5-in-a-row.
Caps a great weekend, what with Friday night’s unexpected result, and yesterday’s much-welcomed 3 points for the Hoops.
Good long break now until our next meaningful game, once the post-split fixtures have been announced.
So aff oot now to mass.
Ister’s.
CultsBhoy can not relate to Celtic Board ambitions on or off the park, there were just short of 50000 there last week, also try getting a ticket to away games our allocation to Motherwell was sold out I believe. I had to cancel going as I had forgot about a family do and let it be known I had a spare, I could have sold it 20 times over.
I would suggest while you are watching on your TV you maybe pay a bit more attention to the reality of what is happening at Celtic Park. The crowds aren’t so different no from a couple of years ago yet guys like you say we are losing 1000s week in week out. If that were true the stadia would have been empty ages ago, yet a game against Hearts attracts one of Europe’s largest crowds.
TBJ…
Looking forward to congratulating what’s left of the huns in work tomorrow.
Hope that doesn’t sound bad:)
Congratulations on winning a cup we couldn’t… Could you explain why we weren’t in it?
Answers on a postcard:)
Don’t watch the EPL but had to today as it’s very cloudy and windy in the Algarve. I’m actually frozen.
Anyway canny take to Leicester and don’t want them to win the league. And I’m a football romantic.
Maybe just crabbit today.
Well being stuck in a villa with 12 in laws would drive a man to illogical conclusions.
I missed game yesterday and have just watched highlights Kieran Tierney is outstanding. Danny McGrainesque?
HEbcelt
Did you catch my Spanish road trip ideas from the other day?
Dublin now murdering us 1-20 to 0-12
MR Pastry
Instead of reading club accounts try readin the club’s history – that will enlighten you as to why Lord Livingstone’s political views ( and votes) are so alien to most Celtic fans who cherish the values of our clubs origins. So not fascism.
Re Lawwell’s salary your figure of £900k is close to his contractual entitlement of basic £550-600k plus a maximum of 60% bonus. However he e ceded that due to the generosity of his cronies on the remuneration committee.
You might also want to investigate The relationship between Lawwell’s and his son in relation to Celtic transfer activity.
Voguepunter
I was told you stole the chalice and pawned it for cheap wine.
Is that your line?
If so, can I steal it?
U
All over 1-20 to 0-13.
Well beat.
TBB I did indeed Sir thank you, been stored away for future ref, had,nt thought of that area. Especially impressed with the culinary prospects. H H Hebcelt
I see wee Leo Messi hasn’t scored for over 6 hours of football, yesterday’s blank coming in a 1-0 loss to Sociedad in San Sebastian.
Barca, having taken just 1 point from the last 9, now 3 ahead of Atleti with 6 to play.
BQN in meltdown.
Uly
Steal away …like a hun with his tax dollars :O)
Eddiecarmichael
My eyes must be deceiving me – I would have sworn the stadium looked half empty at a number of games this season . Perhaps supporters dressing up as empty seats?
I must buy a new tv….
VOGUEPUNTER on 10TH APRIL 2016 5:22 PM
GIGGSY on 10TH APRIL 2016 5:08 PM
Page 112 in the Panama Papers mentions the funding for res 12. It’s just after the paragraph about dermot.
I’ve never been to mass.
———————————
I was told you stole the chalice and pawned it for cheap wine.
Was that after he ate his Christening Piece on the way to the Chapel?
Apologies – Eddie KIRKMICHAEL
Cultsbhoy
Boyata is first choice and superseded Mulgrew and Simunovic and even made it through his ‘”he’s a bombscare Boo bhoy period “
As others have said little experience ,but he’s getting there, because he’s fitter, faster and better than your average Scotsman, which justifies the paltry £1.5 we stole him for.
p.s. The stadium is half full, not half empty
Good morning all Tims from a very stormy, and periodically very wet Las Vegas Boulevard.
A quick mention of appreciation for Tontine Tims post earlier. How educational for one of the “younger” yins like myself on the blog. That is the third such post I’ve bookmarked.
While I’m on the subject of thanks, I visited the Crown and Anchor “British” pub, just off the Strip for a fish supper yesterday afternoon.
Wearing my Hoops as I was, it seemed like I’d thrown a hand grenade in the place.
It wasn’t long before I was sucked into the black hole debate with a bunch of punters from “darn sarf”.
“One is as bad as the other” and “What’s it like to have the old *irm back again” etc etc all being the topics of conversation.
So thank you Paul, The Battered Bunnet, Auldheid, BRTH, Canamalar and others too many over the years to mention for giving this Amortisation Numpty the ammunition to comprehensively and completely put these loudmouths in their place.
They were none too happy about being fed the facts I can tell you.
The upside is that there were two Sunderland lads loving it and laughing, while getting more than one round in.
When will the post-split fixtures be announced?
JJ