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Newco preaching financial risk blind to Celtic benchmark

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You would be forgiven for believing you lived in a parallel universe if you read Newco Rangers director, Paul Murray, today, who told us, “the benchmark in Scotland is Celtic”.  “First and foremost, we don’t want to put the club into financial risk”, he told reporters.

Yes, I know, it’s supposed to be the company, or maybe the holding company, that’s put at financial risk, not the club, the club can sail on regardless of financial realities. With an impressive sense of entitlement, but we’ll not press Murray to square that circle.

Let’s instead remind him of the roles of a non-executive director.  PricewaterhouseCoopers define the roles of a non-exec as:

Constructively challenging and contributing to the development of strategy

Monitoring the performance of management

Satisfying themselves that financial information is accurate and that financial controls and systems of risk management are robust

Succession planning and determining appropriate levels of remuneration for executive directors.

Paul Murray, you will remember, was a non-executive director of oldco Rangers, and that club was well and truly put into financial risk, costing hundreds of creditors money, ending in liquidation.

Businesses have non-executives to offer help but also to be the eyes and ears of ordinary shareholders, creditors, customers, staff and any other stakeholders.  It’s their job to sit at board meetings and ask the questions of the executive management, ensuring the company is able to meet all obligations.

They should be banging fists on the table demanding risks are brought under control.  If they are unable to impose control on management, they should resign.

It was Paul Murray’s role to ensure that financial controls and systems of risk management were robust at oldco.  He was paid to constructively challenge strategy, and to ensure management performed their duties.

In this respect, Murray was magnificent.

22 years ago we went through a rebirth.  The old board, unable to take the club forward, limped off the scene.  Imagine for a second that a few years later Fergus and his fellow directors were swept aside by the old board (who remember saw the writing on the wall and appropriate took steps).

It’s unthinkable.  The benchmark in Scotland is indeed Celtic, where those susceptible to vanity spending on football bling at the cost of financial security will never be the eyes and ears of the club’s fans and shareholders.

These people are perfect in every way.

CharlietrailerSTATIC

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  1. We shal not we shall not be moved.

     

    We shall not we shall not be moved

     

    Unless we lose an alleged £10m a season

     

    Then we shall be moved.

     

     

    We shall, we shal be moved.

     

    We shall, we shall be moved

     

    By greed, corruption and power.

     

    Then we shall be moved.

     

     

    Etc

  2. An Teach Solais on

    Hope that there will be less personal animosity, name-calling and in-fighting on the blog in the new article.

     

    Surely there is more that unites us than divides us. HH

  3. Paul,

     

     

    Forget THEM.

     

    Concentrate on our problems.

     

    You could start with our player acquisition problems.

  4. traditionalist88 on

    According to Homebhoys podcast, Simunovic will miss the rest of 2016??

     

     

    HH

  5. The Green Man says SACK THE Board on

    The ‘Big Lie’.. is an absolute whopper.

     

    Look, there’s the Reichstag on Fire……but it isnt really, you just imagined it.

  6. Neganon2, if someone is using CQN to prop up racism report it and I will take action.

     

     

    That’s a highly personal and contentious allegation, which I have asked people not to engage in.

     

     

    I have also asked some people not to take bait left for them, which can and usually does degenerate into abuse and painful reading for the rest of us.

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

    Tony namechanger

     

     

     

    All the way with LBJ…

     

     

     

    A political slogan for Kennedy’s successor Lindon B Johnston…

     

     

     

    Anyhow a key political strategy of LBJ was to get his opponents in the tent on the basis that it’s better to have them inside the tent pissing out than keep them outside the tent pissing in.

     

     

     

    The corrupt SFA have IMO deployed a similar approach to Lawwell. They have invited him in to stop him pudding in on them. In fact he now pisses out on their behalf.

     

     

     

    This is all very good for the SFA and their continuing manipulation of Scottish football but it isn’t good for Celtic who are victims of the manipulation as they effectively become muted when their CEO is part of the SFA.

     

     

     

    I hope that helps answer your question but I suspect it won’t as you changed your name but are incapable of ever changing your opinion of your beloved PL…

  8. Don’t look like Peter’s through and through, if Phils to be believed. “Res12 will be forgotten by the support, once the first OF tie takes place”!. Enjoy the cheating bigotfest.

  9. Paul67

     

    we need marquee signings

     

    along with a vibrant youth policy

     

    there out there

     

    thats the best way to fill celtic park every 2weeks

     

    not the huns “back”

     

    people need to see something exciting

     

    not projects we flog onto southampton

     

    that should be only part of the strategy

     

    like quonno says forget them

  10. It’s funny but some people don’t seem to realise that in the movie “UP” the ” squirrel ” joke is about the dog who sees it being easily distracted not using the squirrel to distract others.

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

    Paul67

     

     

    As usual superb insightful analysis of Hunco.. Give us the same re Celtic some time soon. I’d be very keen to know what YOU really think.

  12. Paul

     

    Don’t forget thems, be vigilant at all times when this tribute act get the level5 thing going, to ignore it would be condoning it, pummel them at every opportunity, and never let up, some one has to, the SMSM sure as hell won’t, and some in here too.

  13. The Battered Bunnet on

    It was the non-Execs, particularly Paul Murray, Chairman Johnstone and King, who elected not to act to save the club in 2010, instead passing the buck to ‘the Murray Group’, a group that by that time was bankrupt and being wound down.

     

     

    What they meant by ‘the Murray Group’ was the (then) nely nationalised Lloyds Bank. Their strategy (for want of a better word) when the shit was heading towards the fan, was to expect Lloyds’ public purse to bail out the club’s looming tax bills and outstanding debts.

     

     

    “All we wanted them [Lloyds] to do was to migrate that debt into the Murray balance sheet. Why the bank wouldn’t do that, to avoid all the negative publicity, I still don’t know.”

     

     

    That’s the mentality of these people.

     

     

    Now we’re hearing parsimonious soundbites from the same folk, who coincidentally, are running another loss-making football club, reliant again on other people’s money to keep it from bankruptcy.

     

     

    Excuse me my cynicism.

  14. traditionalist88 on

    From Phils article re. Desmond receiving a dossier…

     

     

    ‘One thing that Mr.Desmond does not approve of is anything that subverts the revenue streams of his companies’

     

     

    That can be looked at in 2 ways…

     

     

    HH

  15. Further to my opinion on the last article about the perils of supporter representation on the board.

     

    If we use CQN as a barometer, how difficult would the reality be to please all strands of supporter opinion.

     

     

    HH. You

  16. Cultsbhoy

     

    Here’s a Wee heads up for you don’t be like a sheep and believe what others say about me in here, there’s only one guy here who can change your name in here and he posted a new article ten mins. Ago, he knows what happened, and you know you can’t change your name without him, so I’ll leave it with you and let you stew on it it, as you seem very concerned about it, I never at any time tried to hide who I was, why would I?

  17. The Battered Bunnet on

    Re kite flying…

     

     

    I have it on good authority that nothing will happen on Res 12 until after next weekend’s Cup tie.

     

     

    This kite flying malarkey is brilliant. Shoulda tried it years ago.

     

     

    (Actually I did. I had a Peter Powell stunt kite as a kid. A pal and I used to have airborne ‘fights’ in the fields out the back. Man, that was magic. What a time to be a bhoy.)

  18. ——

     

     

    P..P..P..Pick Up A PENGUIN..

     

     

    (Not YOU, Canamalar…!

     

     

    Stick wi’ they CAMELS…

     

     

    You PHiLANDERER..

     

     

    No Kissin’…Mind..!

     

     

     

    Middle-East Respiratory Syndrome )

     

     

    —–

     

     

    Well That’s A Relief….!

     

     

    We Thought We Would Have To Alert The Melbourne Paramedics….

     

     

    Tae Go ‘Roon Tae Macjay’s Palatial Abode….

     

     

    An’ Gie Him The Ol’ HEIMLICH Manouevre…

     

     

     

    (Don’t Try It On Yersel’…CorkieBoy.!)

     

     

    —–

     

     

    Jings…!

     

     

    These Pop-Up Adverts Oan CQN….

     

     

    Like We’d Like Tae Fly Tae ZIMBABWE..!

     

     

    EVAH…?

     

     

     

     

    —-

     

     

     

    Any Updates Oan Lord Mark McGhee ?

     

     

     

    ~~~~

  19. The Green Man says SACK THE Board on

    The Celtic PLC….Its like the last gasp of the Austro-Hungarian empire in 1914.

     

    Old and decadent, and out of touch with the new century…Anachronism.

     

    The old regime resplendent in luxury in their bonus-funded palaces….while the world explodes.

     

    Warped.

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

    Dermot Desmondo is pretty straight in his dealing with Celtic. He doesn’t profess to care much beyond his controlling financial stake- which he sees as a long term punt in case we get access to a bigger league..

     

     

    for me Desmondo could be anyone or any major financial institution…

  21. PL “res12 will be forgotten as soon once the first old firm game is played” looks like Phil is another one helping the SMSM, and Huns on here, any proof of that statement? Of course there isn’t, although some will take it as verbatim no doubt, kite flying at its best. Is it a quiet Newsday Phil ?

  22. THE GREEN MAN SAYS SACK THE BOARD

     

    __________________________________________

     

    Hail Hail – To theeeeeee

     

    Extraordinaire of anti-Celtic Cage-Rattlers.

     

    You’ll Never Walk Alone…..in the Jungle.

     

     

    One weeeee bit….the biggest cheats of the Celtic support

     

    are the Celtic PLC-Hierarchy…..the soul sellers.

     

    Get rid of the Hierarchy – Freeze them out – Nae Season Book Money

     

    Get a hierarchy of Rebellious Celtic Supporters in place

     

    then…..take on all our demons.

     

    Anything else is….taking our place in the big new queue for vicTIMS.

     

    HH

     

    +++++++++++++++++

     

    Neganon2 – Takes a pounding from some on here – because he continually

     

    bangs the drum to enlighten, those who refuse to be enlightened,

     

    as to the racist traditional structures that ‘we’ Celtic fans have had to,

     

    duck n dive our way through since forever.

     

    Well,….to not be enlightened is no longer an option.

     

    Celtic PLC looked the other waya s the died(LOL)huns were allowed in the

     

    back door to div 3…to tool-up for what they see as, revenge.

     

    Well,….the died(LOL)huns have made they’re way from the, back door to

     

    your front living room….any day soon.

     

    The naked, anti-Celtic / Irish / Catholic hatred will now be the norm.

     

    And,…to think that, Celtic’s hierarchy could have kicked racist Scotland off

     

    the planet if, they’d pulled the rug at the ‘shame-game’ govt summit.

     

    The kowtowing-PLC-whores have sold you all out.

     

    Will you give them more of your dosh(they’re god) to keep them in office ?

     

    If ye do, your worse than racist.

     

    God save us.

     

    +++++++++++++++++++++

     

    THE DONALD

     

    ______________

     

    What can I say ?

     

    YOUR Flag will always fly

     

    high & proud on the ole

     

    Jungle roof.

     

    The flags of ‘all’ smashers of sleekit-hunlike-cliques

     

    will fly high and forever on thee ole roof of the

     

    Blessed-Rebellious-Underdog-Champions Jungle.

     

    ……Off-oot-zzzzzzz……..

  23. An Teach Solais on

    Re Dermot Desmond, a pretty benevolent if somewhat disinterested major shareholder IMHO…We could have worse c.f. some clubs in the EPL and what their owners have inflicted on them.

     

    All may not be well in Kerrydale Street but it could be tons worse. HH

  24. The Green Man says SACK THE Board on

    What was it wee Voltaire said…something along the lines of…’To learn who rules over you, simply find out who you are not allowed to criticize’

     

    Could be something in that indeed.

  25. Paul67 I think it becomes very dangerous for cqn to take concepts such as unwittingly propping up the institutional racism in Scotland and allowing those who can’t understand the nuances to then use that as personally abusive.

     

     

    It feels like CQNs very own version of the Offensive Behaviour at Football act?

     

     

    Is that your intention? Is this the beginning of selective censorship on cqn?

  26. Just my personal opinion but there are no more than approx 6 bloggers that I would be happy to represent me/us on the board. Some I have met some not but from what I have heard them say and write suspect they would do a great deal better than some of the present incumbents? As I say just my personal opinion. H H Hebcelt

  27. This I liked.

     

     

    might have been worth Keith asking a probing supplementary at this point. However, I sometimes wonder whether the Scottish sports media think supplementaries are those things that are shoved up your backside when you are extremely constipated.

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

    Y not 67/ tony/ Kato

     

     

    What do you reckon to my LBJ analogy re Lawell and SFA?

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