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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. The Green Man says SACK THE Board on

    KevJ

     

     

    Hail Hail Hunskelper

     

    The PLC are without doubt, some of the biggest chancers ive ever had the misfortune to clap my eyes on.

     

    Nero fiddling while Rome burns…springs to mind.

     

    Or the ravings of Caligula…who believed he could defeat his enemies…with a song…or a joke:)

     

    Billionaires, Millionaires, Lords, and nasty wee chameleons aplenty.

     

    Brogues, Handshaking, and Secret deals.

     

    Dan Brown would have a field day.

     

    The Celtic PLC…The Men Who Sold The Jerseys.

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

    Hebcelt

     

     

    Thanks – who are the other 5?

  3. it always makes me laugh, talk of paul67 censoring the blog, as if he’s ever done it, coming from people who tell paul67 what he should be talking about

     

     

    its the same people who constantly try steer any debate so its about their particular pet topic and is on their terms

     

     

    its really selfish and does nothing for the blog or for the greater good of celtic

  4. It seems everyone got out of the wrong side of the bed this morning.

     

    We are on the verge of winning our 5th title in a row.

     

    We have a semi final against a lower league side.

     

    There are periods in our history where I would have given a body part to be in this position.

     

    Oh and Paul67, why aren’t you auditing our accounts for Sox compliance, putting bog roll in the stadium bogs and laying hands on Simunovic to aid his early return.

     

    Day job? What day job?

  5. up_over_goal on

    COOLMORE MAFIA

     

     

    If true, would presumably leave Boyata, Mulgrew and Ambrose for CB roles, all of whom have a very poor points record playing together in Ronny’s formation.

     

     

    Boyata/Mulgrew – 4 from 9

     

    Boyata/Ambrose – 8 from 15

     

    Ambrose/Mulgrew 4 from 9

     

     

    As you so eloquently put it – gulp!

  6. coolmore mafia on

    Y NOT67 on 7TH APRIL 2016 1:29 PM

     

    heard Sviatchenko is out for the season and Simunovic also. Gulp.

     

     

     

    Nothing on the official CFC web site,?

     

     

    >>>>>

     

     

    may be garbage Tone

  7. JC2 on 7TH APRIL 2016 1:25 PM

     

    BADA BING

     

     

     

    heard that before didn’t know basis.

     

     

    Hmmmmm as they say

     

    so run away Champs from last year were not seeded

     

    Does that set a precedent ??????

     

    And a year from now if plucky new comers make

     

    top 6 will a new rule be found.

     

     

     

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

     

     

    BADA BING!! on 7TH APRIL 2016 11:15 AM

     

     

    Jc2- I read yesterday we might have Hearts at home,as they were not a seeded team before season started,I.e a Top 6 team,not sure how true it is

  8. Cultsbhoy you mean besides me!!!! Y not67 I did not say 6 should be, anyone or two of 6 I would be happy with – but I know it will not happen. H H Hebcelt

  9. macjay1 for Neil Lennon on

    THE DONALD on 7TH APRIL 2016 1:09 PM

     

    ——

     

     

    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.!)

     

     

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

     

     

    1000 Ks from Melbourne to my wee gaff in Sydney, Donnie.

     

     

    :-)

     

     

    Heimlich, I`ll google.

  10. The Battered Bunnet on

    Sviatchenko hurt his hamstring, that much was clear at the time.

     

     

    A grade one is a 10-21 day rehab.

     

     

    A grade 2 is 6-8 weeks.

     

     

    A grade 3 is 3 months.

     

     

    How many weeks are left of the season?

  11. The fab 6 on the board :-

     

     

    kevJ

     

    Canamalar

     

    The Green Man

     

    The Donald

     

    Macjay

     

    Mr Pastry

     

     

    We speak with a United Voice.

     

     

    Hail, Hail and good luck.

  12. Ye know if the level of nonsense spouted on here gets any worse ole DBBIA will need to stay on here for Lent !

     

     

    Celtic, the Champions of Scotland, are on the cusp of winning the title again for the fifth time in a row.

     

     

    Our ancient rivals Rangers are deid.

     

    Their tribute act, Sevco Rangers 2012, are in financial distress and are due to play the most important game in their 4 year history, their first ever Scottish Cup semi final, against a , vastly superior ( in every way) Celtic side.

     

     

    History clearly shows us that all forces are mobilised in said circumstances where any team playing out of the AsbestosDome, to

     

    A promote all things hunnite

     

    B denigrate all things Celtica

     

    In the run up to said match.

     

     

    They are rightly kacking themselves

     

     

    Get real my friends.

     

    They beat Dumbarton 1-0 ffs

     

    They lost 3 goals to Q.o.S., Raith, Falkirk

     

    They are sh##e.

     

     

    Can we please get back to supporting the Champions?

     

     

    Eurochamps67

     

     

    SunshineinthecanariesalwaysliftsonesspiritsCSC

  13. The great Desmondo thinks THEY’RE a great club with a proud history.

     

     

    Remember?

     

     

    I do.

     

     

    HH!!

  14. The Green Man says SACK THE Board on

    TALLYBHOY

     

     

    DD must be a bit slow on the uptake.

     

    Praising the very people that have cheated him….isnt exactly wise.

     

    Maybe he will wake up one day….but i doubt it.

     

    Rip Van Winkle hasnt got a look in:)

     

     

    HH

  15. !!Bada Bing!! on

    If Sviatchenko and Simunovic are out for the rest of the season say nothing,the MIBs will target existing CBs to get booked as many times as they can,will end up with Bitton and Lustig at CB……..

  16. Y not 67

     

     

    Tony, never mind a slow news day for Phil, what he is saying is electric.

     

     

    For anyone with any lingering thoughts our CEO is back res.12 they can think again.

     

    He just wants it to go away.

     

    My God!

     

     

    Let me remind u of what Phil said..

     

    Indeed, a well-placed source inside Desmond’s inner circle related to me that the club’s CEO had expressed a view that the issues around the resolution would die away “…once the first Old Firm game takes place…”

     

     

     

    Big Pete should be called out and called out soon.

     

     

    For me this is a resignation issue.

     

     

    He treats us with contempt

     

     

    HH

  17. An Teach Solais on

    GREAT HUNGER MEMORIAL

     

    84 days left to reach the initial target of £5,000. Only £500 now required.

     

    Hopefully there will be a glut of artists seeking the commission.

     

    I am not personally on the committee but wish them well with their efforts. Should be something close to the PLC’s hearts. HH

  18. PS …. Rather strangely , now the Great Desmondo is aware of res12 I’m more confident justice will be done

     

     

    HH

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

    Ive long thought Biton would be a good CB ..

  20. The Johnatron on

    One to put the cat amongst the pigeons, and I’ve not heard anyone bring this up before…

     

     

    Why don’t Celtic start advertising as “The Most Successful Football Club in Scotland”?

     

     

    Let’s see how Sevco react to that. Would they even dare (or could they afford) to challenge that in the courts?

     

     

    TJ

  21. clogher celt on

    Is changing your name on here the same as doing a Sevco?

     

     

    Do you get to keep your good posts and lose all of the stuff you don’t want?

     

     

    Is your moniker only the Holding Company?

     

     

    Not that anyone here behaves in a Sevco type fashion:))))

  22. TALLYBHOY on 7TH APRIL 2016 1:41 PM

     

    The great Desmondo thinks THEY’RE a great club with a proud history.

     

     

     

    Remember?

     

     

     

    I do.

     

     

     

    HH!!

     

     

    And he should never be allowed to forget it.

  23. traditionalist88 on

    Burghbhoy on 7th April 2016 1:55 pm

     

     

    But is he more concerned with past lost revenues or future potential revenues…

     

     

    HH

  24. Afternoon Timland from a warm and sunny hun free mountain valley.

     

    Reading back I see we ahve a very diverse array of posts and topics, ranging from ” We don’t want fan representation on the board cos they will no tell us what is happening ” to you can’t change your blog name without Paul67’s say so, Oh Dear to that one.

     

    Now we are getting Phil’s take on things, which I would love to be true.

     

    TBB

     

    I heard the self same thing only last night.

     

    HH

  25. TRADITIONALIST88 on 7TH APRIL 2016 2:00 PM

     

    Burghbhoy on 7th April 2016 1:55 pm

     

     

     

    But is he more concerned with past lost revenues or future potential revenues…

     

     

     

    HH

     

     

    I imagine his only concern is how can he bail out and get all his money back.

  26. BURGHBHOY

     

    Well for me it’s kite flying, and Phils sources have kinda been all over the place the last few months, anyone can tell anyone what they heard, but PL does not need to come out and defend Rumours Every time some attention seeker opens his trap, Phils sources have set him up a few times and left him with egg on his face, I’m thinking this is another one of these times, unless the guy who PL said it to has the balls to stand up and call PL out on it, and you and I know that’s not going to happen, mischief making and as I said a slow day for Phil, looks like level5 are doing a good job with him too.

  27. traditionalist88 on

    quonno on 7th April 2016 2:03 pm

     

     

    I’d say he reached that stage a long time ago tbh

     

     

    HH

  28. TET

     

    if you keep saying it you’ll believe it.

     

     

    Now we are getting Phil’s take on things, which I would love to be true.

  29. The Green Man says SACK THE Board on

    Its not very clever to praise cheats and bigots…especially when the have been shafting you.

     

    Karma is a bitch.

     

    They say a fool is easily parted with his money.

     

    There will be more than a few feeling rather silly.

  30. Traditionalist 88

     

     

    I get the impression and I maybe wrong that the Great Demondo won’t like being screwed over by anyone.

     

    U don’t become a billionaire by being a pussy cat.

     

     

    My gues and its only a guess, is if he sees we have been shafted and there may be a case for financial compensation , he will be all over it like a rash

     

     

    HH

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