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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. macjay1 for Neil Lennon on

    SIPSINI on 10TH APRIL 2016 11:12 PM

     

    Petec…

     

     

     

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

     

    ===============================================================

     

     

    Not an expert ,but I don`t think that is a reason not to take Communion.

  2. Delaneys Dunky on

    Haha

     

    Just saw sevco needed a penalty and og against the part timers.

     

    Oh Hampden in the sun.

     

    Celtic 7 the sevco 1

  3. Canamalar it looks like OCD obsession on

    DD,

     

    I’ve been singing that to myself recently and now think Elton John stole the melody for “I’m still standing”

  4. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar...... Ipox belongs to the creditors on

    I saw deed peepul in Kilwinning today…

  5. Is Nimrod the Antichrist that takes over the 3rd Temple???? ;))

     

     

    Who is Nimrod?

     

     

    certain Bible verses suggest things.

     

     

    Feck the Clicque.

  6. GuyFawkesaforeverhero on

    This is stupid.

     

     

    Paul67, have you lost interest? Page72, nobody cares anymore. Show your posters some respect.

  7. MACJAY1…

     

     

    I can assure it does, sadly.

     

     

    My ma always told me to say an act of contrition and it will be fine, it never sat well with me though. Kip time. HH

  8. Looks like Danny Willett’s going to win the Masters and he’s wearing green and white – dressed by the Unseen Fenian Hand

  9. Eddie

     

    2 thinsgs mate

     

    – cheats got their trademarks back when Mash got his dosh back

     

    -its an sfa tourney and we are playing

     

    Sfa/therangers.they promote the match its their cup.Celtic have issued 3 emails about it.it mentions me, my mammy, daddy andmy uncle paddy but it does not acknowledge the 4 y.o algae.

     

    Hope your good mate :-)

     

    Hh

     

     

    Tell did I pickup Stuart “uglyhun’ mccoll wrong in sportscene there?

     

    Gerry asked him if ross county manager was un line for managers award

     

    Mccoll-suppose we are waiting to see who wins cups!

     

     

    Nowt like a bit o petro bravado ha

     

    ———————–

     

     

    BT hope your knee gets better.

     

    Well done Matthew :-)

     

     

    HH

  10. macjay1 for Neil Lennon on

    SIPSINI on 10TH APRIL 2016 11:26 PM

     

    MACJAY1…

     

     

    As I said , I`m not an expert .

     

    The Pope just reiterated something I was told years ago .

     

    The supremacy of the conscience. Can`t be a sin if you honestly , genuinely don`t believe it to be so.

     

    The conscience , however , must be informed ie. not pretendy :-)

     

     

    Another wee gem…

     

    Mass without Communion is like saying Grace before meals and Grace after meals , but not eating the meal.

  11. Delaneys Dunky on

    Sipsini

     

     

    I received my divorce by post. Told my parish priest that I would never divorce her. Which is true. I receive communion from my PP.

  12. GuyFawkesaforeverhero on

    Canamalar it looks like OCD obsession on 10th April 2016 11:26 pm

     

     

    Good to know you’re still going strong. You four guys have a lot of support, here and everywhere in Celtic territory.

     

     

    I only logged in to offer my LMS7 cyber pint owed this weekend, to Alex Schalk. 1-0s are great, if you have the 1.

  13. Delaneys Dunky on

    Canamalar

     

     

    Elton is a Watford fan.

     

    Rod Stewart is trying to convert him to Celtic I hear. :)

  14. Sipsini

     

     

    You can receive the Eucharist unless you have another partner.

     

     

    Knowing you, that’s unlikely :-)

  15. macjay1 for Neil Lennon on

    DELANEYS DUNKY on 10TH APRIL 2016 11:36 PM

     

     

     

    That`s my understanding.

  16. Corkcelt

     

     

    I saw your post about my comments about yesterday’s game but by the time I saw it you were long gone.

     

     

    I thought we were very good in the first half but fell out of it for large spells in the second.

     

     

    I’m genuinely sorry you couldn’t make it to Dublin when we were over.

  17. I know many priests who would advise people in second relationships to continue to practice their religion including taking Communion.

  18. garygillespieshamstring on

    Being divorced does not mean you can’t receive holy communion.

     

    I know someone who is divorced and serves as an extraordinary minister.

     

     

     

    The issue is if the divorced person then gets involved in another relationship as they are still married in the eyes of the church.

     

    The church now has support groups for divorced and separated Catholics. People who have been married and have children can even have their first marriage annulled and then marry again in the church.

     

     

    Sorry if I am getting involved in something that is nothing to do with me, but I would not like anyone to miss out on receiving the sacrament when they don’t need to.

  19. God is my Dad. I mean my actual Father.

     

     

    The Ritualism is not what My Dad would want, him being so Creative.

     

     

    Truth is Powerful.

  20. eddieinkirkmichael on

    Melbourne Mick

     

     

    She phoned me when she was on her way home, said you all had really made her feel welcome. She’s really looking forward to meeting up with you all again next weekend.

     

     

    Thanks for looking out for her it’s really appreciated and it just makes me feel even better about being part of this great club and it’s wonderful supporters.

     

     

    BRHT posted earlier about how great our fans are, your treatment of my daughter is just another example of how great fans of this club are.

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

    Watching the Golf on the Radio ………….

     

     

    I love radio. The commentators have to have a good command of the English language and know how to describe a situation, tell a story and tell you all sorts of things that you won’t get on the TV.

     

     

    Sipsini

     

     

    I don’t often post on things religious but I think on this occcasion I should.

     

     

    Rightly or wrongly, I consider myself to be a reasonably religious bloke. I enjoy going to church, play an active role in my parish as much as I can, and fairly regularly say a wee prayer or two in a quiet moment.

     

     

    I have been reasonably happily separated from my wife for almost a decade, have another partner in my life who doesn’t live near me, and so pretty frequently I go to church on a Sunday with my wife whom I get on with better now than in past times. Our relationship is very good and very close — it just wasn’t good enough or close enough to see it through and it was better for our four wonderful kids that we live separately but close by.

     

     

    On other occasions I go to church with my partner who is also a catholic.

     

     

    I go to communion and I serve as a eucharistic minister.

     

     

    With all maters religious, I always ask just one question:

     

     

    What would the big hippy with the long dress, the beard and the sandals do in any given situation?

     

     

    I don’t believe he would turn anyone away from his church, nor would he turn his back on a soul — especially a good soul — who, for one reason or another, finds themselves part of a relationship that didn’t work.

     

     

    It is a matter for each individual conscience but if you want to go to church and go to communion then do so.

     

     

    I know many a clergyman who will support you in that.

  22. GuyFawkesaforeverhero on

    Enjoyed the ceremony today in the old Free Church graveyard in Renton, to commemorate the memory of Alec Brady.

     

     

    Brendan Sweeney and Celtic Graves Society don’t receive the body of support they deserve. Every person who reads this sentence and doesn’t find their way to the next graveyard, hasn’t stepped up to the plate.

     

     

    Celtic forever.

  23. TheOriginalSadiesBhoy on

    BT

     

     

    Are you serious? Only your knees and back? You need all of them to be in fine working order so that you can enjoy the rest of your life. I’m so glad to be offering up prayers for someone who is not critically ill but your situation is serious for your future life. Take care and good luck.

  24. macjay1 for Neil Lennon on

    Re. marriage , divorce et al.

     

     

    In 2013 in the U.S. , 40.6 percent of babies were born to unmarried women.

     

     

    Source…Fox News .So it might be true. :-)

  25. eddieinkirkmichael on

    An Tearmann

     

     

    Cheers for the reply mate, hopefully catch up at a game on our way to 5iar