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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. GuyFawkesaforeverhero on

    corkcelt on 11th April 2016 12:18 am

     

     

    I take in what you tell me.

     

     

    No worries, I’m a Celt. There are Pharisees posting night after night on this blog. What the hell do I care?

  2. macjay1,

     

     

    Disappointed SFTB brought up the Reds under the Bed patter in a comment to you.

     

     

    Ignore me, I’m nothing.

  3. Ed

     

    How are you?

     

    Missed the context but think you will find that Hasson is a Derry (tends to be South Derry) name.

     

    HH

  4. macjay1 for Neil Lennon on

    PETEC on 11TH APRIL 2016 12:47 AM

     

    macjay1,

     

     

     

    Disappointed SFTB brought up the Reds under the Bed patter in a comment to you.

     

     

     

    Ignore me, I’m nothing.

     

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

     

    Mate.

     

    Never put yourself down.

     

    That`s our job.

     

    :-)

     

     

    Hugely relieved with the wins at Tynecastle and Motherwell.

  5. setting free the bears for Res. 12 & Oscar Knox on 11th April 2016 12:52 am

     

     

    Petec

     

     

    But your not disappointed with the Marxist and Frankfurt School patter?

     

     

     

    A bit one-sided in taking offence.

     

     

    ………………………………………………………

     

     

    Go on what you saying?

  6. eddieinkirkmichael on

    gearoid1998, I’m fine mate should be getting my hand back this week hopefully ;).

     

    I did the old wiki thing re the name after I posted and noticed it’s connection with Derry.

  7. Ok SFTB – I will be courteous and explain, again, I don’t like Group Think.

     

     

    No need to get ratty.

     

     

    You don’t like conversing with me unless I am criticising who you want to attack, no worries, seriously, no worries.

     

     

    I think your excellent in your analysis of Celtic games but you,IMO, think, you are better than others.

     

     

    Ma Sons Grime Music – mad Cyril.

     

     

    “Man try say he’s better than me

     

    Tell my man shut up

     

    Mention my name in your tweets

     

    Oi rude boy, shut up

     

    Better than me?

     

    Shut up”

     

     

    Shut up

  8. petec

     

     

    Ok SFTB – I will be courteous and explain, again, I don’t like Group Think.

     

     

    Neither do I. That is why I express my own thoughts and they are as independent of influence as yours are or any other poster on here.

     

     

     

    No need to get ratty.

     

     

    I wasn’t. You were the one who decided to be “disappointed in me” for no good reason, at least, not one that was explained.

     

     

     

     

    You don’t like conversing with me unless I am criticising who you want to attack, no worries, seriously, no worries.

     

     

    I converse with whatever takes my interest. A lot of the things you post about will not catch my interest and vice versa. We’d never get off here if we each responded to everything that every poster said. Your decoding of my poster responding habits are nonsense but, like yourself, no worries.

     

     

     

     

     

    I think your excellent in your analysis of Celtic games but you,IMO, think, you are better than others.

     

     

    You are free to think whatever you imagine about any other poster but that is all it is- an imagining. I was not the one to take the superior position of judging you to have disappointed me. Now, if I was the imagining type, I could easily construe that as you thinking you were better than me. But, I’m not so I will take you at your word.

     

     

    Aff to ma kip now

  9. aburntoutcase on

    Loved the golf tonight. A good Tim pal of mine got me to put a couple of bets on for him. Danny Willet £10 e.w.@80/1…Lee Westwood £10 e.w.@80/1.! Ffs,first and second! The £1200 is currently resting in my account.Must remember to speak to him when I get back from Barbados. ps He reckons we will hammer the Thems on Sunday.

  10. A Ceiler Gonof Rust on

    BobM. Winklepickers……….aye. I,ll do Lisbon with you. There will be hunners, thousands of others who will want to do this in the 50th anniversary year of our finest moment.

     

     

    Count me in.

     

     

     

    HH bruv

  11. Just watched the Sportscene highlights.

     

     

    By golly they’re hurting if they thought McDonald was onside at the offside goal.

     

     

    Wee Kieran was phenomenal with his two cutbacks. Especially after his obvious mistake for their goal.

     

     

    UTLR wee man.

  12. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    ACEILERGONOFRUST

     

     

    Good man,time you turned up again.

     

     

    We thought you were on the wagon!!!!!!!!

  13. SFTB.

     

     

    You probably made it jokingly towards macjay1 about the Reds under the bed.

     

     

    No worries.

     

     

    Ronny is the man.

  14. macjay1 for Neil Lennon on

    PETEC on 11TH APRIL 2016 1:40 AM

     

    SFTB.

     

     

    Mate .

     

    I don`t get bothered about these wee comments.

     

    But , thanks for your concern.

     

    It`s appreciated.

  15. BRTH

     

     

    One of the many wonderful experiences in my life was to set up an Association of Separated and Divorce Catholics locally.

     

     

    We had a saint of a PP and when I went to see him about using the church hall. I explained what we were about and he said he had one question for me

     

     

    What would I do if a non Catholic turned up looking for support through a divorce?

     

     

    I said if they are hurting Father then they are in.

     

     

    So began a very interesting and ultimately enjoyable few years for all who got involved, including the PP.

  16. macjay1 for Neil Lennon on

    HAMILTONTIM on 11TH APRIL 2016 1:36 AM

     

     

    Having seen his cracking left footed shot on goal…………….

     

     

    Keiran for the penalties.

     

     

    Big T.G. revisited.

  17. Auldheid

     

     

    I’ll reply to the email after my meeting on Tuesday mate.

     

     

    Macjay

     

     

    He’s young but I think you could be right. Ronny should ask and see who feels most confident.

  18. macjay1 for Neil Lennon on

    HAMILTONTIM on 11TH APRIL 2016 1:56 AM

     

     

    I wouldn`t be giving him a penalty next Sunday.

     

    Not that we`re likely to get one.

  19. macjay1 for Neil Lennon on

    Sydneytim

     

     

    Sunday evening.

     

    Cheers bar.

     

    See you there.

     

    Hopefully.

  20. Celtic have a semi final upcoming

     

    Daily Mail carries story of CEO in frame for a job with a shortly to be Championship team.

     

    No sources. No quotes, Pure speculation.

     

    Coincidence?

     

    If you think so, come see me about a nice tract of land in the Everglades.

     

    The snakes, alligators and cougars could be removed.

     

    The mossies could be an issue though.

  21. For the guys and gals wrestling with reception of the Sacraments after divorce, separation or a post divorce partnership, I suggest you read as much as you can on the report, Amoris Laetitia, the post Papal synod paper on the appropriately named Love in the Family,

     

    My initial readings are that it recommends a much more open, understanding from the Church on individuals suffering personal relationship difficulties.

     

    No doubt some communities will have their own interpretation.

  22. This was posted on TSFM by the poster YAKUTSUKI:

     

     

    APRIL 10, 2016 at 21:23

     

    14 9 Rate This

     

     

    valentinesclownApril 8, 2016 at 10:06 27 1 Rate This

     

    Another Res 12 summary and why not to be idle https://t.co/9SMAJawB2z

     

    //////////////////////////////////////////////////////////////////////////////////////////////////////////////

     

     

    Thanks VC, I am trying to read as much as I can on res 12 at the moment as I feel very strongly about it.

     

    I was reading CQN where a poster (Kill Ultra) had been asking questions re transparency etc on res 12,

     

    and he is being absolutely slaughtered for daring to ask the questions others won’t ask! I mean vicious and personal in the extreme. That’s why I like it here. The worst you usually get is accusations of being a troll – sometimes justifiably.

     

     

    It seems that if you rock the res 12 boat, even slightly, you are accused of being of the blue persuasion.

     

    I don’t post on any partisan forums at all, although I have never hid the fact I have season tickets at CP.

     

     

    I know that there is a significant ‘Crossover’ between here and CQN in terms of readership, and would just like to say that the guy (Kill Ultra) that is being accused of all sorts is not any of the things mentioned, but is a good Celtic man. More importantly, he is one of the original signatories of res 12.

     

     

    The man is being accused of many things – and one of the ‘Big Hitters’ of res 12 is denying that he knows Kill Ultra. I was in KU’s house in October and seen with my own eyes several emails regarding res 12 between the denier and KU.

     

     

    I’m sorry if this seems a little Celtic centric, but I’m starting to worry about people’s motives more and more.

     

    If any of you have time, have a look if you dare. It’s depressing – well, to me anyway. I think we’re peeing in the wind to be honest.

     

     

    For a man that would help anyone to be treated like this for not toeing the party line or sticking to the ‘script is absolutely disgusting – hang your heads!

     

     

    For any CQN members on here that doubt he is who he says he is, I have known him for 20 odd years

     

    and shared lunch with him and his son before the 2003 cup final in Seville. Like me, they hadn’t travelled to cheer on Porto! Rant over… for now.

     

    _____________________________

     

     

    Auldheid – You posted on TSFM in response to the post of Yakutsuki. Here is some of what you wrote:

     

     

    “Let’s get it clear what I offered Kill Ultra.

     

    1. A request to contact me by the normal means used on CQN which he did not take up.

     

    2. An offer where I said I would see if I can get one funder who had himself suffered from social media abuse in the past to let Kill Ultra understand how the funder felt about Kill Ultra ‘s request.

     

    That wasn’t a threat it was a failed attempt to get Kill Ultra to understand what he was asking someone to do in order to satisfy his sense of entitlement.

     

    It obviously failed given the way Kill Ultra chose to respond. He may be the longest ST holder on Celtic’s books but he is getting back what he is giving out in equal measure – mistrust.”

     

    ———

     

     

    Auldheid. What you wrote was a ridiculous twisting of the truth. I took up your invitation. Canamalar persuaded you to withdraw the invitation. Have you forgotten? It’s all there in your earlier posts.

     

     

    I was positively happy to meet with the mystery ‘donor’. (Btw. Your mention of the word ‘threat’ now has me wondering.) Could you please explain to me the sentence, ‘it obviously failed given the way Kill Ultra chose to respond’? Now that you know that I’m not an imposter could you possibly reconsider your decision?

     

     

    And, Auldheid, you know very well that I’m not interested in knowing names of individuals funding the legal fees and reports commissioned since the joint Resolutioners/Celtic Plc decision to adjourn Resolution 12 in November 2013, and in successive years since then.

     

     

    The legal bills are likely to be substantial and I’ve already said that I would be happy to pay for the cost of drawing up a summary of the costs; names could be redacted, so that anonymity of all parties, including donors and lawyers, can be protected. I’m only one signatory, but I know there are several more who would like the same information. Okay, you might say I have an unreasonable sense of entitlement but I was part of a group of 100, an organisation, and, no matter how loosely constituted, its representatives, and you are one Auldheid, should ensure that I am afforded a basic level of accountability and transparency.

     

     

    CANAMALAR IT LOOKS LIKE OCD OBSESSION on 10TH APRIL 2016 10:20 PM

     

     

    Canamalar, you wrote: 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.

     

     

    ————

     

     

    Canamalar. This afternoon I’ll send you a copy of our email exchanges, and where you are saying

     

    ‘I told him to sling his hook.’ I’ll post here would you actually did say.

     

     

    Canamalar, I’m not a snake? Why try to dehumanise me? What are you afraid of?

     

    ___________________________

     

     

    EDDIEINKIRKMICHAEL on 10TH APRIL 2016 9:20 PM – Great summary!

  23. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    KILL ULTRA

     

     

    Why is this so important to you? No-one else has been bothered about who is footing the legal bills,though offers have been made to “crowdfund” them.

     

     

    You,on the other hand,want these people named,and to be honest,I can see no rationale in that request.

     

     

    It will gain nothing,but could cost some people a lot more than money.

  24. BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 11TH APRIL 2016 7:17 AM

     

    KILL ULTRA

     

     

     

    Why is this so important to you? No-one else has been bothered about who is footing the legal bills,though offers have been made to “crowdfund” them.

     

     

     

    You,on the other hand,want these people named,and to be honest,I can see no rationale in that request.

     

     

     

    It will gain nothing,but could cost some people a lot more than money.

     

     

    ———————-

     

     

    BMCUW.

     

     

    Where in my post do I ask for people to be named?

  25. An Teach Solais on

    Good morning,

     

    Sorry to see that the diatribe continues. Why, apart from a misconceived idea that CFC are funding Res12 at this juncture does anyone, whether the most committed Celtic supporter or not, demand financial information. If you haven’t made a financial contribution, none of your business. If you think CFC have spent club money, ask it.

     

    Kills Ultra’s language in his demands did not come across as that of a Celtic supporter

     

    He, of course, has the right to write to any blog but to take it out-house seems more to do with attacking the Res12 bhoys.

     

    It is not right that we are arguing when the focus should be in getting the Resolution to where it needs to be heard. My opinion only. HH

  26. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    KILL ULTRA

     

     

    If I could get this site to load properly,I’d go back to your earliest post and c&p them for you.

     

     

    Are you now saying that at no time have you demanded the names of those funding the costs to date of the resolution?

  27. An Teach Solais on

    Sorry, with regard to my previous I missed out the caveat, “if he did, indeed, write to another blog”.

     

    Just wish we could all concentrate on what is important and not our own little egos – the downfall in many scenarios of our Celtic nations.

     

    Hopefully, the blog now returns to football.HH

  28. FAVOURITE UNCLE on

    BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS

     

     

    bobby I have lived in England for 28 years.i have learned 1 important thing in all that time which I learned the first week i was here.”you can not educate a mug.” and part of that is you can not argue with a mug,because the mug does not know he has lost the argument.

     

    so why don’t we all give up going to mass,get filled with hatred and become just like THEMS.

  29. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    FAVOURITE UNCLE

     

     

    Grateful thanks for the advice,bud. Yer right,of course.

     

     

    But God loves a trier!

     

     

    Btw,I first moved south a year before that,and have spent the vast majority of my time since then down here. And I’ve got a lovely English accent to prove it.

     

     

    Aye,that’ll be right-the poor sods still need subtitles…