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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. Gordon64

     

    How are you getting on big pal , have you recovered from your trip to Dublin. Saw a picture of you and your brother as kids with your dad and uncle Ross coaching about 30 kids in pedros magazine hopefully your mum got one if not I will keep a copy for you.

  2. Canamalar it looks like OCD obsession on

    Eddie…,

     

    your a friend of nan, no ?

     

    Nan and kill decided Res12 reps are liars and sell out merchants.

     

    Even after BRTH let loose about our disappointment, which is what we always told everyone would happen if we thought there was a chance we were being shafted.

     

    Now, I’ll repeat for you why I have a problem with nan and kill,

     

    nan, wrote to me for an update I responded to him with everything I knew and asked him to treat it with confidence, as published on here we were required to keep our discussions confidential as a condition of the Plc working with us.

     

    nan within a few days decided to lecture me on how the job should be done problem being had we used nan’s format the Plc would have clammed up.

     

    nan then had a go at morrisey and auldheid on twitter, he then sent me an email that we were only updating a selected few, asking for an update, which I gave him and had a go at him, because all he had to do was send me an email and I would have given him the same info as I had done previously, without him having to resort to making a big whoha about it on twitter, again I asked him to keep a confidence, this time he decided to post the info shared, then I let rip and as I’ve said before, I’d do again without compunction, in fact I’d be less measured, nan is supposedly no daft and had seen the evolution of Res12 and what had been written on here after it was adjourned, so he knew the conditions we were require to adhere to, the keep the Plc onside we had to work with them and that IMO was the best way to progress Res12 and I make no apology for that, this was never about keeping people happy it was always about getting a result and as explained many many times patience was needed and the best way to see if Res12 was successful would be a result, some dont have patience but most do and bar two everyone supported and trusted.

     

    Kill,

     

    the correspondence I remember with that snake was, he asked me for an update which he received as per his publication on here, he basically called me a liar and a sell out, I told him to sling his hook.

     

    Now kill is on demanding information that he has no right to and you expect me to treat him with kid gloves, thats auldheids style and auldheid tried that, I didnt and wont waste another minute on that snake in the grass.

     

     

    When I started Res12, I told everyone it was going to become a personality problem for many, I offered to stand aside and let anyone who wanted to or thought they could do a better job, take command, neither of these two made any noise in fact no one even my biggest detractors made any noise because they did not for one minute think I would get it this far, even after witnessing the change in the Res wording, now it is becoming a very potent animal those who wanted to shoot it down are back, to me they are sick with jealousy and spite.

     

    At the start of Res12 the Res was a completely different animal it was pointed at what the Plc had done, and were doing. After a few months I decided this was the wrong tac and reworded it to illicit the help of the Plc with the aim of getting them to deliver on their responsibilities to the shareholders rather than confront them on failure I decided to confront them on responsibilites.

     

    When the conditions were imposed by the Plc for confidentiality, on their fears for their employees, I was not a happy chappy, and thought they were simply trying to create this, on that I did and do agree with nan transparency was the one thing I wanted, and everyone involved knew my feelings at the time. That is not how it panned out and there’s not a lot I could do about it if I wanted to keep the Plc on side, I explained that on here too.

     

    However I did respond to anyone and everyone who wrote asking for updates, one or two might have slipped through though.

     

    There were only two people who did not like what I told them and they were silent until BRTH let rip a couple of weeks ago, then suddenly hawdit n dawdit thought they were justified to start telling everyone I told you so, when in fat they had done nothing of the kind, they then set about trying to undermine the work done and the integrity of everyone but particularly BRTH and Auldheid without knowing anything about what these two guys had contributed, as far as hawdit n dawdit were concerned Auldheid and BRTH are being paid for by the Plc, utter utter shite and to be honest going on past form II should have expected it, nothing these two do is a surprise.

  3. Delaneys Dunky on

    Petec

     

     

    James McIntyre gave my Godson a start yesterday. Celtic under 17s are thee team according to James and Chris and all involved in football. The 2000 born bhoys will rule supreme under Ronny.

  4. WeefratheTim on 10th April 2016 10:15 pm

     

     

    PETEC

     

     

    Thanks buddy and god bless yer wee mum. They really are irreplaceable. HH.

     

     

    ……………………………………………………………………………

     

     

    The boy was playing in Strathaven this morning, very early. Driving from EK to there was good. Farms and hard workers, working for others.

  5. Delaneys Dunky on 10th April 2016 10:22 pm

     

    Petec

     

     

    James McIntyre gave my Godson a start yesterday. Celtic under 17s are thee team according to James and Chris and all involved in football. The 2000 born bhoys will rule supreme under Ronny.

     

     

    ……………………………………………………

     

     

    Hopefully, I’ve not seen the under 17s, although they may be amalgamated with 16s.

     

     

    Oh Ronny Ronny.

     

     

    Aidan played against those soon to be Legends, IMO.

  6. The Green Man says SACK THE Board on

    Evening Celts

     

     

    In town tonight….you would have thought sevco had stopped an asteroid and saved the world from destruction.

     

    Said to one..’Im sure the Football world will be impressed that you won the Petrofac Cup’…..then laughed sarcastically:)

     

    Morons

     

     

    HH

  7. PETEC

     

     

    Glad you enjoyed your wee visit to our historic town. Hope yer laddie done well. Wee Bertie Auld has bestowed more historic value to the toon than anyone. (Probably wrong) lol. HH. Cot time. :-)).

  8. Delaneys Dunky on

    TGM

     

     

    Thank God you are not lying on a bench in Stewart Street.

     

    You must have been in a nice mellow mood. ;))

  9. PapaJoe55 It took me a few days to recover from Dublin. I’ll ask my mum if she has that photo. Hope your enjoying the golf pal. HH

  10. The Green Man says SACK THE Board on

    TGM

     

     

    Smashed more like:)

     

    I was in Paddy Power across from Central collecting my winnings from Grand National….4th place horse 50-1….10 ew.

     

    Several of the deluded fools were in.

     

    Slagged them all:)

     

    Lucky thats all they got:)

     

    Hope you are well bud.

     

     

    HH

  11. Delaneys Dunky on

    James

     

     

    Do you think Stuart McCall’s second language is English. Canny understaun his Yorkshire/Ibrox hybrid.

  12. WeefratheTim,

     

     

    The Strathaven Dynamos won 1-0.

     

     

    The wee man, and he hasn’t grown for 2 years, was played at CH. No offence to him but he is poor @ heading the ball. He reads the game well though.

  13. No sport Is more unforgiving than golf.

     

    The best putter in the world doesn’t make you the best golfer on the planet.

     

    Mind games CSC.

  14. Ah So history was made today…..world record……first club ever to win the petro cup…….tee shirts now getting slabbered with paint for sunday…..just so they can rub it into us.it

  15. Petec…

     

     

    I worried about my bhoy not growing a good player but as all his teammates were head and shoulders above him and he was lightweight he got disheartened.

     

     

    He’s now six foot and has a six pack and playing away again.

     

     

    Still reckon I could take him :)

  16. Delaneys

     

     

    That’s a scotch international you’re besmirching don’tChaKnow!

     

     

    ;-)

     

     

    HH jamesgang

  17. eddieinkirkmichael on

    Canamalar it looks like OCD obsession, I have met Big Nan once at a OB act thing in Govan. I have met Morrisey on several occasions and even been for a few beers with him and Eddie Toner after a demo in Aberdeen with the Celtic Trust. I met BRHT again on several occasions I consider all the above to be friends in Celtic as opposed to personal friends.

     

     

    As I said in my post, that’s how it looks from the outside to me.

     

     

    Only 2 people may have made their views public but I can assure you that I have heard some of those views shared by other CQNers.

     

     

    I chose not to get involved in the debate and am happy to go on lurking while it’s being debated. Whatever happens who knows.

     

     

    I sent Big Nan a message a few weeks ago saying I actually though the Res12 guys were being strung along by the board. In the last week or so I have changed my mind for several reasons and told him so.

     

     

    Still on the outside looking in and happy for it to stay that way.

  18. sipsini on 10th April 2016 10:54 pm

     

     

    Petec…

     

     

    I worried about my bhoy not growing a good player but as all his teammates were head and shoulders above him and he was lightweight he got disheartened.

     

     

    He’s now six foot and has a six pack and playing away again.

     

     

    Still reckon I could take him :)

     

    ~~~~~~~~~~~~~~~~~~~~~~~~~~

     

    A pilgrimage to Kirkcaldy with you and G thang.

     

     

    Powerful.

     

     

    DD got me to go to Mass.

  19. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar...... Ipox belongs to the creditors on

    From one of Phil’s bloggers….

     

     

    There used to be great expectations. Blue Pitch Holdings were muted to be seriously wealthy folks. £50m was rumoured by some as realistic investment. Also bona fide billionaire Ashley was a friend with funds and loan players. However Pauly M and Kingy decided a hostile takeover was best (for them). A lie regarding a £50m investment, £30m from King’s children’s fund, was created to dupe their pals and gullibears.

     

    There can be no great expectations anymore.

  20. Delaneys Dunky on

    James

     

     

    He went to school in Leeds with my cousin Stephen. They both played for Leeds boys club. Stephen wore the Celtic hoops for every training session. Stuart’s dad hated my cousin. An old Scottish bigot, my uncle Danny described him.

  21. Canamalar it looks like OCD obsession on

    Eddie..,

     

    yer a lucky mhan having the choice.

     

    Your no the only one who thinks we’ve been stung along but we cant simply storm out in a huff, we need to keep focused on what we want and keep reminding the Plc of their responsibilities to the shareholders.

     

    The problem is and always has been the Plc needed a different level of proof to take things on. They have that now.

  22. Melbourne Mick on

    Hello again all you young rebels.

     

     

    EDDIEINKIRKMICHAEL

     

    Your lovely daughter gave us a visit yesterday and although it

     

    was not a Celtic Sun. there were quite a few bhoys and ghirls

     

    to welcome her she had a right good chinwag with my wee

     

    princess and Paddymacs wife with lots of laughter in between

     

    so hope we see more of her as she seems to be settling in to

     

    the Oz lifestyle.

     

    H.H Mick

  23. Petec…

     

     

    To be honest I only go to mass when someone passes, I don’t take communion as I’m divorced.

     

     

    I saw that it might change soon and give me a reason to go back. HH