After Celtic’s reversal in Astana I pinned the decision to allow Kelvin Wilson to leave after the Elfsborg tie as critical. It left us playing an unaccustomed central defensive partnership against Shakhter while generating only £2.5m.
Before Saturday’s game with Dundee United Neil Lennon suggested the player and his agent had been “naughty”, which might explain things.
It is not unknown for players to cite that they are “not in the right frame of mind” to compete for the club which pays their wages while there is an alternative deal on the table. This tactic is a certified banker for the player, who does not need to fail a fitness test, he just needs to look a bit down in the dumps. It is a shocking state of affairs which can cost their employers dearly.
I’m absolutely delighted to see the emergence of some interest in Celtic’s financial position over the last week. The club have long term loan agreements, an overdraft facility, and, at any point in time, cash on deposit. We have preference shares which, as long as the club attains certain financial covenants, will attract a dividend. At any point in time we also money owe trade creditors, utility companies, other football clubs and HMRC, but as you know, for 126 years Celtic have always paid their bills.
Our NET debt position at on 30 June 2012 was £2.77m. Since then we have had an excellent financial and footballing year. In 2005 UK accounting rules changed, re-classifying some equity categories and debt. In their 2006 financial statement, then chairman, Brian Quinn wrote:
“Under FRS 25 the group’s Preference Shares and Convertible Preferred Ordinary Shares, previously defined as equity, were reclassified as a combination of debt and equity; and non-equity dividends were in essence re-classified as interest. As a result, net assets were £3.8m lower, net debt £4.7m higher and interest charges £771,000 higher than would have been reported prior to the implementation of FRS 25.”
This was “hidden” away on page one of the accounts. Further details were published at appropriate places throughout the accounts. A video presentation was also given to shareholders and the media to explain the situation further.
Perhaps the word “transparency” should be used instead of “hidden” by some.
For further reading on FRS 25 see page 5 of this report.
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Choon alert ——-
The Big E : Salute to The Steel Guitarist – Buddy Emmons [ Music Producers ]
An absolute belter ! Shame it’s CD only
celtic_first
11:30 on 3 September, 2013
Absolutely…….
connaire12
12:23 on 3 September, 2013
…..and the oldconians / sevconians did not step up to the plate …….hypocrites
Anyone know what the sketch is for the European away match tickets now that Celtic have taken all the travel arrangements on board. Been to a few away matches and was offered tickets for the recent match at the camp nou, so may have a wee chance in the ballots (If any). Booked up for a 3 night stay in Amsterdam with a few mates and young Palacio, staying at the Ibis at the airport.
HH
greenwhiteandoranjecscs
Even Leggo is having a pop at Jack, all good fun.
JACK IRVINE ATTACKS SUN EDITOR HARRIES AND RECORD EDITOR RENNIE
JACK IRVINE has trashed the reputation and abilities of the men he needs to have on his side the most if he is to get stories backing the current Rangers board into Scotland’s top two selling daily newspapers.
I can reveal that Irvine has made disparaging remarks about Sun editor Andy Harries and Daily Record editor Allan Rennie.
The latest revelations come just days after the big three Rangers fans groups released an angry statement condemning Irvine, recently re-employed by Rangers as a £100,000-a-year part time consultant spin doctor, following the release of an email in which Irvine branded the man voted as the Greatest Ever Ranger, John Greig, as thick.
And they also follow the smug Irvine treating those Rangers fans with complete contempt by being interviewed by Rangers hating Andy Muirhead on his rabidly pro Celtic website.
But it is the news which I am breaking which will damage Jack Irvine the most, especially with Andy Harries, the editor of the Sun, the paper which has backed all of Irvine’s clients during the Rangers saga, beginning with Craig Whyte and going right up to the Easdales.
It is the Sun which has been firmly in the Irvine backed Easdales camp.
Now Irvine cannot deny the truth of what I am about to reveal. For I have emails from him to prove what he really thinks about Sun supremo Harries and Record editor Rennie.
Irvine made his remarks about Andy Harries in the wake of the controversy which followed the Harries U-turn over his original decision to publish extracts of Philmacgiollabhain’s book a year ago.
Harries justified his change of mind in an usually long Sun editorial – known in the newspaper business as the leader – and said he had not been aware of Philmacgiollabhain’s background. Harries then added that Philmacgiollabhain was tarred with the brush of sectarianism, something the Press Complaints Commission agreed with after Philmacgiollabhain complained to them.
But in an email Jack Irvine wrote: “Harries says he was completely unaware of Phil’s background. That is a sackable offence in itself. If Harries was warned he is an even bigger idiot. The Sun leader was lies from start to finish. If they didn’t know his (Philmacgiollabhain’s) background they should all be sacked.”
The Irvine verdict on Record editor Allan Rennie is even more devastating!
Jack Irvine wrote: “He (Rennie) was promoted way above his capabilities. However, he does have one major shot in his locker. He is best buddies (and running partner) with the equally incompetent management supremo, Mark Hollinshead. As long as the latter stays in situ, then Rennie cannot be moved.”
If Andy Harries, the editor of Scotland’s biggest selling daily newspaper, the Sun and Allan Rennie, the editor of Scotland’s second biggest selling daily newspaper, the Record, did not previously know what Jack Irvine really thought about them, they do now.
……
AND…..
THERE’S a new kid on the block fighting for and agitating for Rangers. It’s to be found on Facebook and is appropriately called SonsOfStruth, inspired, I am told, by the blog I wrote asking Rangers fans which side they believed Bill Struth would have been on, were he around today.
It can be found at http://www.Facebook.com/SonsOfStruth
Keep your eye on it!
!!bada bing!!
12:12 on 3 September, 2013
It was actually disgraceful …….. Some of the posters should be ashamed of themselves
Hello, hello where is Paul today, he’s on his holiday!
THM
Semantics and perspectives I suppose.
If you cant tolerate another persons argument and that makes you want to label that person a non or poorer supporter then your a green hun and you are not adhereing to the mission statement. Regardless of how much you may not like it. That´s my perogative I suppose. I could call them anything Boring insecure bassas for example but green hun seems pretty apt (as in precise) to me.
The spoon was to big and the nappy to small ;-)
HH
Kilbowie Kelt
11:58 on
3 September, 2013
Auldheid
I have signed Canalamars resolution, can I scan it and send on to an e-mail or does he need it posted?
let me know
Thanks
tonydonnelly67
11:53 on
3 September, 2013
You are living in cloud cuckoo land if you think that they are dead and you will never see them again.
They are still there, staffed and supported by the same unsavoury elements.
Leaving aside that we could be drawn against them in some cup or other, barring our own relegation, we will be playing them on league business in season 2015/16.
Denial is another glaringly hunnish trait I feel.
Do we all agree ?
HH
JI: That is utter nonsense. We can only work with the tools we are given. Craig Whyte ran the club into the ground although you would have to say he inherited a pretty leaky vessel. Our role at Rangers is crystal clear. We carry out the wishes of the board in an attempt to help the business survive and prosper.
I wonder if ole Jack gets the irony in the lasr line of the paragraph!?!
They were liquidated when he was trying the “help the business survive and prosper.”
He failed, big time.
Thanks for putting that up TET. Didnt help my digestion though:-)
67HEAVEN
No intention of falling out about it,bud,but with the exception of the “Irish t..t” episode,what was said last night about DD was fair comment.
You might not agree with what was said-even I didn’t agree with a lot of it-but the opinions expressed were honestly held,and debatable.
They were not made-up stories with no foundation in truth. Merely a different interpretation of events.
Awe_Naw_No_Annoni_Oan_Anaw_Noo
12:44 on
3 September, 2013
Sort of denial. There’s a difference between the denial we see here and that of eg FF and Rangers Media. They were in denial of facts presented in black and white documents.
Whereas here one side tends to deny the assumptions and opinions of the other. There’s very little denial of cold, hard facts.
jmccormick
12:38 on 3 September, 2013
As I understand it, an e-mail of your details will suffice.
Good Luck.
Anyway,we now enter a blinkin’ international hiatus straight after a fractious transfer window.
The perfect storm….
May God have mercy on our souls.
Awe
For the record there are very few posters on here that would exclude anyone from Celtic due to age, gender, sex, ability, sexual orientation or religion.
But the mission statement is very clear on who Celtic football club is for.
It’s not for people without the belief that football is a medium for healthy pleasure. So contrary to your belief that people who exclude mineshafters from the club are green Huns, they are actually enforcing the clubs mission statement.
Anybody know when tickets for individual ucl home games will go on general sale?
Kilbowie Kelt
thanks, does anyone have Canalamar`s e-mail?
BMCUW-Agree to all having an opinion my friend,no matter what side of the DD debate,but some crossed the line IMO HH
Quo no
You missed the point in my post I said “I will Never see them again” that means Me, I don’t care what you or the media or any other person says, as far as “I” am concerned they are deed, no longer exist, gone, good night, asta la vista, Cheerios, bye bye, morti, fineto, kiss yer erse good bye, gone for ever, never to be seen AGAIN, now I can not make it any plainer than that.
Awe Naw .
” A foolish consistency is the hobgoblin of little minds ”
Ralph Waldo Emerson .
Huns are bigoted sheep who do that group think thing
Any word on sevco only registering one of their trialists ?
Trouble at mill !!!!
paolosgoldenboots
12:52 on 3 September, 2013
A week tomorrow I think.
Weeminger
Not on the same scale but as a support we are getting there.
40,000 ST bought while not a word was said about governance from us since the 5 way agreement kind of hammers it home I reckon.
I feel a semantic debate about sport, governance, poor downtrodden Celtic fans, entertainment.about to happen …….
HH
HH
!BADA BING!
I think the only out of order comment was the one I mentioned. But that doesn’t mean I’m right.
For the record Rangers FC did die….yes there is a tribute club claiming to be the same but a wise man once said a lie is a lie no matter how many times it’s repeated the truth remains the truth even if unsaid.
Not seen any mention of the signing of all their triallists apart from Nicky Law…
Eldest son heading for a job interview. …best of luck to him.
HAIL HAIL
THM
” So contrary to your belief that people who exclude mineshafters from the club are green Huns, they are actually enforcing the clubs mission statement.”
elaborate please as it does not sound like my belief
HH
TONYDONNELLY67
Like you,I will have nothing to do with them when they play us again.
No ticket,no telly,no paper,no nothing.
“I see dead people”
Not for me.
Exiled Tim
I noticed that LSAT night someone saying they (Sevco ) only registerd one player, what’s that all about? Does that mean they where already registerd?
¿Dónde está todo el mundo?
Dove sono tutti?
Waar is iedereen?
Jmccormick,
canamalar@yahoo.com
…posting is a bit slow and sporadic for the middle of the day.
I really need to slow down on the touch key pad I am getting worse, ;)
Awe naw:
Elaboration:
“If you cant tolerate another persons argument and that makes you want to label that person a non or poorer supporter then your a green hun and you are not adhereing to the mission statement. Regardless of how much you may not like it. That´s my perogative I suppose. I could call them anything Boring insecure bassas for example but green hun seems pretty apt (as in precise) to me.”
Your belief is that people who exclude others from the club are green Huns?
new article posted.
Ok lunch time , later ;)
tonydonnelly67
It could be a cashflow problem, no idea.
I doubt they were registered before, but it’s the sfa we are talking about, so you never know.