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. Canamalar it looks like OCD obsession on

    Had it been a feather splitter he’d have been right in trouble

  2. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    TD

     

     

    Hearts shouldn’t be forced to play three times at CP.

     

     

    They still have a live chance of finishing second.

     

     

    It should be a simple shout,the lowest-ranked available team. Ross County.

  3. ———

     

     

    Sir KevJ

     

     

     

    Owen Coyle’s Granny Is ‘PURE RAGIN’..

     

     

    At The Abuse Directed Towards The Mean,Moody,Yet ‘Pleasingly Rotund’..

     

     

    Mighty H*nskelper,Marco McGhee….

     

     

    On This Now-Besmirched Blog…

     

     

    O’er the W/E…

     

     

     

    Hero of ’88….1st Class Campaign Medal…

     

     

    Hero of The Ginger One’s 2008 League Triumph..

     

     

    Over The Cheatin’ Cardigan’s Unwashed Legions..

     

     

    VC & DSO.

     

     

    Yep ….Without Oor Marco….

     

     

     

    There’d Hiv Been NO Helicopter Thursday At Tannadice In 2008..

     

     

    http://news.bbc.co.uk/sport2/hi/football/scot_prem/7412454.stm

     

     

     

    Fir Park in May 2008….

     

     

    Wiz The H*ns ‘Stalingrad’…

     

     

    An’ Their Campain Oan the Eastern,& Western Fronts…

     

     

    Unravelled from there.

     

     

    Bold Marco Played Wily General Zhukhov….

     

     

    Tae The ‘Cardigan’s’ Plodding General

     

    Paulus…

     

     

    An’ Wee Ross McCormick & Chris Porter…

     

     

    Did The Rest..

     

     

    Oh How We Laughed…!

     

     

    As They Danced In The Mean Streets Of Larkhall An’ Govan….

     

     

     

    http://news.bbc.co.uk/sport2/hi/football/scot_prem/7403462.stm

     

     

    [ Did The H*ns No Win The Petrofact Supercup that year ….

     

     

    Despite Losing Both Home An’ Away Legs In The Final

     

     

    Tae Cheap An’ Chirpy Chesterfield…

     

     

    Wi’ Tony Benn as their Chairman…

     

     

    See Them MIBS..!! Ed]

     

     

     

     

    How Low The Irish Raj & (Our) Shamrock Trolls Have Fallen….

     

     

     

    Bold Marco Even Applied For An Irish Passport …

     

     

    But Was ‘Knocked Back’….

     

     

    As His Sainted Great-Granny’s Birth Certificate…

     

     

    Was Lost In ‘The Big Fire’ O’ 1916…

     

     

    Them ‘Rhebs’ Hiv A LOT…

     

     

    Tae Answer For.

     

     

     

    ——-

     

     

    Talk of the Devil….!

     

     

    The Saintly Tony Benn…

     

     

    Once Labelled “The Most Dangerous Marxist Entryist In Britain”….

     

     

    Has Come Under Scrutiny …

     

     

    When The Panama Papers Revealed…

     

     

     

    The ‘MASSIVE EXTENT’…

     

     

    Of His Personal Tax Avoidance Schemes….

     

     

    To Deny Free Orange Juice & Diapers….

     

     

    To The Teethin’ Weans Of Glasgow & Lanarkshire….

     

     

    Could This Be The Final Straw For ‘Oor’ Ernie-The-Ornithologist…

     

     

    Who Hiz A ‘Wee Epiphany’ *

     

     

    Then Throws Off His Battered Che Guevara Beret For The Last Time..

     

     

    Storms Oota The Croydon Courgette Collectif….

     

     

    (Just Aheid O’ The Croydon Cat-Slayer Posse)

     

     

    Catches Up Wi’ Maggs McGill…

     

     

    And Together,They Pledge Their Souls To The Donald’s Patriotic Crusade…

     

     

    Against The Satanic Forces of the Illuminati…

     

     

    An’ Get A Complimentary Box Of Tunnocks Teacakes…

     

     

     

    For Dae’in A Bosman.?

     

     

     

     

    Candles Lit..

     

     

     

    *[ NO! BMCUWP.. Ed]

     

     

     

    ~~~~

  4. Twitter rumour

     

     

    PL leaving for Sunderland in the summer and DD giving his shares to his son. DD junior wants MON/Keane as management team (just re-checked the date, not april fools day!)

  5. Just been told that the Sevco fans gave a rendition of ‘Stand up for the Champions’ yesterday. Nice touch that but we’re not counting our chickens yet…unless you mean historically of course.

     

     

    thatwillbeanecumenicalmatterCSC

  6. Gary67

     

     

    Peter Lawwell leaving might be a good thing for all, not because, in my opinion he does a bad job for Celtic, for me he doesn’t but he gets blamed for everything that ever happens at Celtic so maybe moving on would be good timing for all parties.

     

     

    Martin O’Neill and Roy Keane? Cannae see it masell!

  7. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    If PL is leaving,I wish him well.

     

     

    His legacy will be the problems to be faced by his successor. I certainly won’t be applying!

  8. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    HAPPY HOOOOOOPY BIRTHDAY to

     

     

    My Celtic-daft mate,Paul.

     

     

    Always said he was a mongrel,he now has a birth certificate that proves it(!)

  9. On a completely unconnected subject to anything just prior, does anyone else think that we’re now at a stage where ANY handball in the box is an automatic penalty? Seems to me that it’s too difficult to decide what is intentional etc..

     

     

    Not that we’d score it of course…

  10. South Of Tunis on

    Off oot to break rocks in the hot sun .

     

     

    Today’s get oot and work choon –

     

     

    The Craig — I Must Be Mad ( Fontana )

     

     

    A gem from 1966 . Bought in a choon store in Govan . Wish I had bought 2 of it .

  11. Hunderbirds are Gone on

    NATKNOW

     

     

    Absolutely!

     

     

    I have been saying this for years. It will lead to some unlucky decisions, but should cut out inconsistency, and should lead to less………..ahem, cough cough…………honest mistakes.

     

     

    I would rather lose to bad luck than bent refereeing.

  12. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    NATKNOW

     

     

    I’ve always thought that it should be dependent on one single point.

     

     

    Was an advantage gained by the handball?

  13. GARY67 on 11TH APRIL 2016 11:09 AM

     

     

    MON/Keane would be a backward step I think. Whether RD is the man for the job or not. What he’s trying to do is the correct way forward for the club and I don’t think the above management team would do that.

     

     

    For example I think they’d have tried to shoehorn an experience RB into EI position rather than give KT a chance.

  14. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    HUNDERBIRDSAREGONE

     

     

    I say,old bhoy.

     

     

    This is hardly the place for homophobia.

  15. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar...... Ipox belongs to the creditors on

    The idea of avoiding religious content during the Easter Rising remembrance is justified, (a fair number of the rebels WERE actually protestants !!!!!) ….. But the hypocrisy of THEN allowing orange walks is breathtaking …… It is actually religious discrimination in itself….

  16. Hunderbirds are Gone on

    BMCUW

     

     

    Chortle.

     

     

    On the handball issue, I think deciding whether an advantage was gained or not, still leaves the decision open to unfair interpretation. Keep ir black and white and it gives the bassas less chance to do us.

     

     

    I say black and white in a non racist way of course ;)

  17. AULDHEID on 11TH APRIL 2016 10:11 AM

     

    Kill Ultra

     

     

    The idea of a threat was raised by Yatasuki on SFM.

     

    ——

     

     

    Auldheid, I’ve searched his post. There is no mention of the word ‘threat’.

     

     

    ____________

     

     

    What changed since you started this issue for reasons that are unclear was my identity being posted on line by the idiots who follow TRFC.

     

    ——-

     

     

    Auldheid, my reasons for starting the issue are quite clear. In my opinion the Resolution 12 project was taken over prior to the 2013 by Celtic Plc. Since then the Plc has dictated the pace and direction, controlling completely the non-action and delays with the connivance of you and the other resolutioners.

     

     

    ___________________

     

     

    ‘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.’ It’s not nice. I’m not making a big deal of it but it’s not nice.

     

     

    ————

     

     

    Auldheid, I know how you feel, so, that’s something at least we can agree on.

     

     

     

    _______________

     

     

    So I’m just not going to expose others to that feeling to satisfy your request. In short you don’t trust me or my motives so why should I trust you?

     

    ——–

     

     

    Auldheid. I think your excuse for not wanting me to meet with the donor is completely bogus. Don’t forget, I’m not asking for the identity of this mystery funder whereas my identity will be known to him.

     

     

    I’ve kept an open mind all along about your motives: I think it’s only fair you do the same about mine.

     

     

     

    ___________________________

  18. —-

     

     

    Jings ….Sir Donald….

     

     

    An’ “Great Walking Eagle”, Besides…

     

     

    Chapeau Duly Doffed…!

     

     

    That’ll Set The Tongues A-Waggin’…

     

     

    At Dick Byrne’s MumsNet Coffee Mornin’….. ;-☘

     

     

     

     

     

    [Why Thank You, Molly….You’re A DOLL! The Donald ]

     

     

     

    ♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥

     

     

  19. I have no idea what religion has to do with the Easter Rising commemorations but it certainly plays a part in the weekly religious intolerance marches sanctioned by our police and councils all over West and Central Scotland.

  20. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    ROYCROPPIE

     

     

    Religion was not mentioned once by anyone over the weekend we were there.

     

     

    And we met enough people to form a quorum.

  21. Dear Focus,

     

     

    “The Irish Republic is entitled to, and hereby claims, the allegiance of every Irishman and Irish woman. The Republic guarantees religious and civil liberty, equal rights and equal opportunities of all its citizens, and declares its resolve to pursue the happiness and prosperity of the whole nation and of all its parts, cherishing all the children of the nation equally, and oblivious of the differences carefully fostered by an alien government, which have divided a minority in the past.”

     

     

    Regards,

     

    Lessons from History.

  22. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    ROYCROPPIE

     

     

    You are so right,mate.

     

     

    A sad state of affairs. Our country-or certain elements of it-need to grow up.

     

     

    Bit harsh saying that since so many seem to have been born about 1690.

     

     

    Heyho,I live in hope.

  23. KILL ULTRA

     

     

    You come across as a reasonably intelligent person.

     

     

    I am sure you understanding that by the culprit not using the word threat but going to the trouble of finding a picture of Auldied and posting it publically on a social media forum the action in itself is the threat rather than the person typing something along the lines of ‘Auldheid, I know who you are and I this is a threat”.

     

     

    You cannot deny the action of finding and posting a picture of someone in order to identify them publicaly is a threat to that person whether you intend to carry out a threatening action against them yourself or otherwise in hope that someone else will carry out a threatening action against them, which as you know as well as I do was the intent.

     

     

    So please stop your obfuscating on that point as it just reduces the strength of any other argument you are attempting to make.

     

     

    MWD

     

     

    MWD

  24. So I read on Twitter that we’ve not yet sold out our allocation for Sunday. That’s very interesting. It says an awful lot about how our most dedicated supporters view TRFC.

  25. BMCUWP

     

     

    I said last week it will be unlucky on Tarts if they have

     

    to come to home of the champions 3 times.

     

     

    BUT

     

     

    I am more interested in precedent set that run away winners

     

    of Championship are lowest seeds and if plucky winners this season

     

    will get the same fate.

     

     

    Hopefully they wont get into top 6

     

    But can you imagine outrage if they have to play

     

    extra game away from home ? or at a venue

     

    that doesn’t fit their agenda