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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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2,883 Comments

  1. BRTH,

     

     

    Wonderful read. Did my heart and soul good to learn of the goodness of so many Celtic people. It’s what we have always been about. Great to hear our captain epitomises that spirit.

  2. BRTH

     

     

    Great post. Really great post.

     

     

    Ref earlier scone invitation. Yes please!

     

     

    HH jamesgang

  3. blantyretim is praying for the Knox family on

    BRTH

     

     

    MRI tomorrow at jubilee. Thanks for asking, reason I couldn’t attend with my Blantyre mates and THG obviously ☘☘

  4. Delaneys Dunky on

    Sipsini

     

     

    Remember my late father telling me a story from 50 years ago. The crimplene tangerine and purple mob were having a walk through Clydebank to commemorate the Battle of Boyne. A King Billy lookalike was to lead them on a white horse. The horse was stabled in Republican Duntocher. The night before, a few local entered the stable with emerald green paint and brushes. The horse was wearing a lovely hooped body in the morning. :)

  5. TheOriginalSadiesBhoy on

    Blantyretim

     

     

    Good luck tomorrow. Prayers offered up, fingers and toes crossed.

  6. blantyretim is praying for the Knox family on

    Sadiesbhoy

     

    Thank you but nothing serious just the old knees and back.

  7. BRTH

     

     

    Good stuff. I’ve seen a load of tweets highlighting what a great ambassador Broonie was last night.

  8. CANAMALAR IT LOOKS LIKE OCD OBSESSION on 10TH APRIL 2016 9:22 PM

     

    kill ultra,

     

     

    no, you want verified then send to same address you say you sent your signed res12 to, or sling yer hook.

     

     

    I’m no wasting more time or energy on you, get it.

     

    ———

     

     

    Canamalar. Will send copy tomorrow.

  9. North Cyprus (formerly Baku) Bhoy on

    Some of the posts of the last few days have been painful reading, but those made by Tontine Tim, BRTH, and a few others have more than made up for the others.

     

     

    I’m hoping that the others will follow their example, and help get this blog back to normal.

     

     

    HH to all.

  10. TBJ has no trust in the PLC on

    Post 2633 … must be a record … won’t last long

     

     

    Has anyone contacted Paul as it’s really unusual for no new article in 3 days … especially with 3 big games over the weekend ;)))

  11. blantyretim is praying for the Knox family on

    BRTH

     

    I mentioned to my dad about your family name and background

     

    That’s why he got freestate to nip your head

  12. Delaneys Dunky on

    Jordan Speith is giving hope to guys like me, who are good at putting, but poor at getting to the green. :)

  13. blantyretim is praying for the Knox family on

    TBJ

     

    Going by P67 Facebook page he has had a busy weekend

     

    Kids are on holiday remember ⚽️⚽️

  14. blantyretim is praying for the Knox family on

    DD

     

    Can’t think why you can’t get on the green ? ☘☘

  15. blantyretim is praying for the Knox family on

    My nephew has just completed a 12 hour shift playing 5’s for St. Andrews hospice

     

    He posts on here occasionally so well done to MatthewL1888

     

     

    Enjoy your rest tomorrow wee man

  16. An Teach Solais on

    Good night everyone. Hope we can be more united tomorrow.. Let’s get Res12 to Switzerland.

     

    Codlata samh do gach duine I Contae Dhun na nGall.agus i ngach ait.

  17. Forget about Political Israel. Listen to the Word.

     

     

    Especially you, that think you know.

     

     

    macjay1 – Ronny is the Man.

  18. BT

     

     

    Had 3 MRIs in the past year, make sure the headphones are turned up. :-))) Hope all turns out well kiddo. :-) HH

  19. Delaneys Dunky on

    Petec

     

     

    Ronny has faced more hostility than any Celtic manager I can remember. Maybe the media know he is the real deal, and are keeking their pants.

     

    I trust Ronny wi our weans.

  20. BT

     

     

    God bless yer nephew and gie him a wee hauf to help help him sleep. (only kiddin). HH

  21. saltires en sevilla on

    TONTINE TIM on 10TH APRIL 2016 5:23 PM

     

     

     

    Mate – totally agree Leigh should have been allowed to release his emotion the way hed did. He deserved that moment and it added to the spectacle – love to see players caring so much.

     

     

    Unfortunately it seems it’s a bookable offence and he should be professional enough to realise the consequences of his actions might have acdirect impact on others.

     

     

    Whether it is a bookable offence or not is immaterial – he needs to smarten up on that aspect of his game.

     

     

    I admire him and recognise that he has made changes that have benefited the club.

     

     

    HH

  22. Brogan Rogan Trevino and Hogan supports Oscar Knox, MacKenzie Furniss and anyone else who fights Neuroblastoma on

    BT

     

     

    Thanks for that. I found Charlie to be a lovely and engaging man and we had a number of mutual connections.

     

     

    Delaney’s Dunky

     

     

    I first saw Tosh playing football when he was kicking a tennis ball about in the playground at St Peter’s in Partick. His mum used to work with my mum and dad and she is very fndly talked of in our house.

     

     

    Sipsini

     

     

    I don’t think I have ever taken a good photograph in my life. John Merrick was more photogenic than me! As for that nephew — he takes more pictures than Police Scotland. Stupid boy.

  23. WeefratheTim on 10th April 2016 10:05 pm

     

     

    BT

     

     

    Had 3 MRIs in the past year, make sure the headphones are turned up. :-))) Hope all turns out well kiddo. :-) HH

     

     

    …………………………………………………

     

     

     

    Powerful yer Support for Celtic.

     

     

    My Mum went for one on Friday.

     

     

    I’m lucky I only have 1 child to worry about.

     

     

    Maximum respect m8ty.

  24. blantyretim is praying for the Knox family on

    BRHT

     

    He certainly is a great Bhoy as his pal and sidekick Tommy Stevenson

  25. Marrakesh Express on

    Got a call from my uncle who was on the Ayr train home. Huns battling in the Central, bloodied faces on the train, two huckled and poison all the way to Kilwinning. They’ll be worse than ever and there won’t be a cheep in the papers.

  26. BT

     

     

    12 HOURS!

     

     

    Was it next goal the winner?

     

     

    May have been a few of our future strikers on show :)

  27. I’m about to break a self imposed rule / memo. Don’t post when you’re half cut or pished. Actually I’m in between. Why anyone especially a Tim (supposedly) wants some sort of forensic evidence regarding resolution 12 is beyond me .

     

    There is only one of the 4 that I’ve had the pleasure of sharing their company. One of the others has sent info based only on an on line ,some form of fenian trust One through CQN sold me a platform for change. I don’t own shares. I approached good Tims who do. They added their names to Resolution 12.

     

    Not one has ever questioned why.

     

    A few weeks ago I canvassed more. Quick chat & it’s up to you. Emails or text messages since are positive. Common denominator. They care.

     

    I’ve not saw anything from Morrissey recently.

     

    Shame. Canamlar seems to wynd up some the wrong way. Why ? Aggressive perhaps but , and here is the big but.

     

    Tims on here know him. None of the 4 is a stranger. Take the hint.

     

    FTSFA.

     

    Back to watching the gowf & sobering up CSC

  28. Delaneys Dunky on

    BRTH

     

     

    His mum is a lady indeed. Thomas senior was a great fitba player and great coach too.

     

    He improved my game and his son’s to a greater degree. :))