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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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  1. thetimreaper on

    CULTSBHOY

     

     

    Are some of the players on show tonight really better than ours? Or are they playing at a level they are comfortable and under not a great deal of pressure. Too many of our players struggle under the weight of expectation. I’m sure many would stand out playing for the likes of Aberdeen or Hearts.

  2. Can I just warn anyone visiting Paris that the lift inside l’Arc de Triomphe is gubbed and the Metro station @ Place de la Concorde is closed due to [extensive] upgrading

     

    .. ?

  3. CORKCELT

     

     

    I will cease and desist.

     

     

    I could tell you tales about me in Belfast and might do one day if we ever meet.

     

     

    I wouldn’t post them on a blog.

     

     

    God bless you my friend.

  4. CultsBhoy can not relate to Celtic Board ambitions on or off the park on

    Hearts resorting to bully boy tactics… Even Raymac would struggle to withstand these assaults… :-)

  5. Half Time One All. I’d take that as a Final Score.

     

    A little worried that the Ref might have a slight preference for a Sheep win.

  6. MARRAKESH EXPRESS…

     

     

    I’ve asked the same question to many huns…the response I get, is he gave us nine in a row!

     

     

    To which I reply, at what cost, the death of your club and your history stopped?

     

     

    Usual pish in response.

     

     

    Thems only see what they want to see, still, I love the look on their faces when I point out your only four years old :)))

  7. Raymac

     

     

    The first part of your post was spot on, the second part was below the belt.

  8. CultsBhoy can not relate to Celtic Board ambitions on or off the park on

    Thetimreaper

     

     

    Griffiths is better than all of the Aberdeen forwards but I’d say Hayes and McGinn miles better than CKR , Ciftci, Cole ( not at his peak but his current ability level)

     

     

    I’m thinking Shinnie , Church and MCLean looking more purposeful than a number of our players.

     

     

    Nicholson doing well for Hearts and a few of his team mates looking like they want it.

     

     

    Don’t fancy either goalkeeper.. Therefore goals in 2nd half to blow my 1-1 prediction

  9. The TimReaper, I was thinking something very similar as I watched that 1st half.

     

    Great minds & all that,

  10. fergusslayedtheblues on

    from what I have seen of the dons lately they seem to come flying out the blocks and then deteriorate as the half goes on

     

    I hope the erse falls oot ther breeks in the 2nd

     

    HH

  11. Ignorant? My English Dissertation was on the use of language in the novels of James Joyce and Flann O’Brian.I am a member of the Guild of Master Craftsmen,another degree in CDT and a ACE in Special Education.

     

    I never put my qualifications down in letters or other correspondence.

     

    There are no certificates hanging on my walls to show them either.

     

    I will now put that down to my limited intelligence.

     

    I am now on the way out to a traditional session. I play guitar,mandolin and 5 String Seegar banjo.

     

    If you can show me some tips I would be grateful.

     

    You started it.

  12. Will the sheepies be sharpening their shears for Mcinnes if they only manage a draw.?

     

     

    Because that is exactly what some of our supporters did to our manager on Tuesday night.

     

     

    HH.

  13. CultsBhoy can not relate to Celtic Board ambitions on or off the park on

    Raymac

     

     

    When is your Biography coming out?

  14. Doc…

     

     

    Don’t feel bad mate, we’re all batting the same ball here.

     

     

    Anyways, what colour does hertz play in?

  15. Nye Bevans' rebel soldier on

    Sitting in the big chair(at last) missed the first

     

    40 mins at swinecastle so can’t comment,happy

     

    enough with 1-1,that’ll dae for me at FT.

     

     

    Another fight on cqn,”know thy enemy”….

     

    …..apparently no.

  16. I’ve got a HGV after my name. So there.

     

     

    Only kidding, havent even got that.

     

     

    HH.

  17. thetimreaper on

    CULTSBHOY

     

     

    I’m inclined to think that Hayes and Shinnie would do a job for us but a few Saturdays in front of the North stand might change that. Having said that, the likes of Izzy and Forrest would look like superstars playing for Aberdeen.

  18. raymac

     

     

    You’re a loudmouth.

     

     

    I can do this, I can do that, somebody shot at me.

     

     

    Your comments re Kevjungle, one of our own who is currently battling cancer are in my opinion, unforgivable.

     

     

    Now you seem to be showcasing your doubtful history, with your educational and musical talents.

     

     

    Fill your boots.

     

     

    Your are no ones hero, just another balloon.

  19. Greenpinata

     

     

    Been doing it for most of the season because I don’t think he’s up for the job.

  20. !!Bada Bing!! on

    Hearts sell Sow for £1.2 m and bring a guy in for free and he is better than any striker we have had this season bar LG…

  21. Raymac on 8th April 2016 8:44 pm

     

     

     

    I’m now on the way out to a traditional session. I play guitar,mandolin and 5 String Seegar banjo.

     

     

     

    What all at the one time??? I’d love to see that

  22. CultsBhoy can not relate to Celtic Board ambitions on or off the park on 8th April 2016 8:40 pm

     

    ————————

     

    Ciftci would’ve scored goals for Aberdeen, and in my opinion that’s why comparing players is so hard. Celtic is to unique, look at McGinn.

  23. The problem with a blog is that you never know the sobriety/state of mind of any particular poster at any particular time.

     

     

    I try not to pick a fight over a particular post but after a while you know who are OK and who are better avoided.

  24. Come on now KevJ wouldn’t be as precious as some on here defending him :o) this is the guy that made up a new account to report back “KevJs” hospital visit. He’s a weird one

  25. Banda Bing

     

     

    Don’t agree we provide no service to our strikers whatsoever, anybody would struggle.

  26. A nod to Auldhied and his three musketeers.

     

    Your hard work in res 12 goes a lot further than CQN, I was surprised that a couple of bhoys in work mentioned to me about the abuse on Twitter that you have been subjected too.

     

     

    Keep fighting the fight. HH

  27. CORKCELT

     

     

    I’m not picking a fight and I’m not drunk.

     

     

    I am defending a fellow poster who is battling serious illness who is being called a whinger.

     

     

    I’m ok with that.

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