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

     

     

     

     

    Remember

     

     

    Lol the guys a very successful business man ffs, lol, what you want him to say “they’r all Dobs and the club died”

     

    Lol nuts think about it for gods sake.

  2. traditionalist88 on

    Burghbhoy on 7th April 2016 2:10 pm

     

     

    I tend to agree – interesting times ahead

     

     

    HH

  3. traditionalist88 on

    Burghbhoy on 7th April 2016 2:10 pm

     

     

    I tend to agree – interesting times ahead

     

     

    HH

     

     

    HH

  4. traditionalist88 on

    ‘Duplicate comment – it looks like you’ve already said that’

     

     

    That doesn’t stop some in here ;)

     

     

    HH

  5. jude2005 is Neil Lennon \o/ on

    BURGHBHOY

     

     

     

    DID U GET THE INFO RE 3G TURF I POSTED 2 DAYS AGO H H

  6. Ray Winstone's Big Disembodied Heid on

    Get the bhoy Kelleher in if Sviatchenko is out for the season.

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

    There are a few ageing Aberdeen Oil Barons who have made mind blowing amounts of money. I see them now in their final years desperately seeking vanity projects to stroke their egos and ensure a legacy.

     

    The money has been accrued and enjoyed but they know it doesn’t go with them.

     

     

    I wonder how history will record our Board?

     

    A statue for Lawwell funded by CQN posters?

  8. Tony

     

    The bit I want to be true is the part relating to the great moustachioed one being pissed off with thems who are stealing from him, I honestly couldn’t give a toss about Pedro he will be fine, when he leaves the club he will have a kwality cushy job lined up with uefa, nothing will harm him, he will have been working on it for years.

     

    HH

  9. The Green Man says SACK THE Board on

    DD praises cheats and bigots who have shafted Celtic.

     

    An insult to every Celtic supporter.

     

    DD should go and watch them at ipox if he thinks that much of them.

     

    He wont be missed.

  10. Jude 2005

     

     

    I did mate and thank u.

     

    It’s all rather worrying.

     

    I will be discussing it with his coach.

     

     

     

    HH

  11. ulysses mcghee - a demographic of one on

    There are occasions when I come on here, have a wee read back and leave more confused than I was (Not difficult I hear you say) worried I’ve had a ‘moment’…

     

     

    It’s like one big stream of consciousness (Unsure who’s) that is sometimes quite impenetrable.

     

     

    I have always maintained that is would be Celtic supporters who suffered most from the Sevco shambles/shenanigans.

     

     

    SKY/Doncaster/Ex Players/Two Bit Hacks/Disinformation

     

     

    It’s only going to get worse.

     

     

    And right now we’re about the only Benchmark I know who are comically close to being a Busted Flush.

     

     

    But…

     

     

    Let’s stick together…

     

     

    U

  12. If Erik is out for the season , thats a worry.

     

    These last few days, it has been painful listening

     

    and reading about the ‘journey’.

     

    I found out the other day i had been offered ticket for semi final, apparently because i attended the Morton game.

     

    After much soul searching i decided , my team needs my support and I’m going.

     

    Many things at our club i don’t agree with but you better believe they need our backing

     

    this next month.

  13. The Battered Bunnet on

    There’s been a load of keech written about Res 12. Another dollop added today I see. A self-serving dollop you might say.

  14. TET

     

    Sorry to burst your bubble but PL will be going no where, he’s a lifer at Celtic Park and one of the biggest Celtic Supporters I’v ever met.

  15. Y not 67

     

     

    Tony, with the greatest respect, Big Pete is a paid employee of the club.

     

     

    And well paid at that.

     

     

    I know plenty supporters who go to every game, who are in debt through love of Celtic.

     

     

    Big Pete couldn’t lace their boots

     

     

    HH

  16. If Erik is out for the season, that’ll be a tough one, but we move on, and take on what’s ahead of us, no time for excuses, it’s all up to us, though many in here won’t be supporting us that’s a given, ffs when and if this story is true, PL will be to blame, as that’s the norm with some of the trumpets on here.

  17. The Green Man says SACK THE Board on

    People who line their pockets with bonuses for failure being lauded as great Celtic supporters.

     

    Aye…right you are.

     

    As if we are all fecking daft.

     

    Away ye go

  18. Have to laugh at some of the nut jobs on here!

     

    Now I’m no great fan of DD but some need to get a gripe on reality. Where were all those great Celtic men when Fergus was trying to raise the money to rebuild CP?

     

    Plenty who talked a good game but gie few who stepped up a put their money on the line!

     

    DD did or do some deny that? I also remember that he backed each and every other share offering.

     

    Now did he do all this out of pure love of the hoops? Probably not but he did do it!

     

    My biggest criticism of him would be that he doesn’t spend enough time on our business. I think that if he did we would be far better run both on and off the park.

     

    I doubt that he became a multi- millionaire while being a poor businessman!

     

    Phil is suggesting that he has perhaps not known all the ins and out of Res 12 and that might be the case but what I am sure of is that has been aware of the cheating that has been going on in Scotland on and off the park. However for me he has not done nearly enough to wipe out that nasty little anti- Celtic, anti-Catholic cabal that inhabits the national stadium.

     

    Wee Fergus would have brought the whole shebang down round about their ears by now!

     

    Like many I’m firmly of the opinion that if the PLC do not pursue Res 12 to our satisfaction, then I will reluctantly give up my ST of over 20 years standing and sell my shares!

     

    My mother and father did not raise me to allow some cheating Masonic bandits to make a mug of me!

     

     

    HH

  19. The Green Man says SACK THE Board on

    Aye , is that the same great Celtic supporter who tried to deny the Irish contribution to Celtic.

     

    Until he was put in his place about the history of Celtic….by someone who knew what they were talking about.

     

    Fecking nonsense we read on CQN about these so-called great supporters on the board.

     

    Well…let me say this..no Celtic supporter i know wants to ignore the cheating

  20. The Green Man says SACK THE Board on

    Clean the whole stable…SFA, Refs, and Hun cheats.

     

    Challenge it…or be held in contempt.

     

    Stand up against it…or feck off.

     

    Anything else….is corrupt.

     

    Its time to put an end to it.

     

    Once and for all.

  21. coolmore mafia on

    DD takes a 6% dividend per year on his shares – we’d be better off buying back the shares as a club with a loan at half the interest. He’d probably sell.

  22. The Green Man says SACK THE Board on

    Those who want to ignore the cheating…are no friends of Celtic.

     

    No ifs, no buts,…stand up against it, or feck off.

     

    You do not call it out…you are condoning it.

     

    Its clear.

     

    There is no room to sit on the fence.

     

    Take a stand against it.

     

    Cheating cannot be tolerated in any way, shape, or form.

     

    Period.

  23. excathedra44 on

    Apologies if the topic has already had airtime as I have missed a few days.

     

     

    I think we are being set up in this Semi Final,Thomson for the 7th time,Madden as 4th official,then behind the goals Clancy and Robertson who are Refs.

     

     

    What I am suspicious about are the Linesmen,Alan Mulvanney lanarkshire,and Douglas Ross Elgin,I cannot recall either of these in a position of importance before,so are they pawns in the game allowing Thomson absolute control.

     

     

    Ross particularly is interesting being a Conservative Councillor amongst other organisations which give me no cause for optimism.

     

     

    I have asked the question of John.Fleming@scottishfa.co.uk if he realises that a controversial call by either of these inexperienced officials could spark trouble,therefore what was the criteria which caused these officials to pop up for this game.

     

     

    Call me paranoid, but I have no confidence we are treated fairly, and the least Celtic should be doing is asking the same question with regard to criteria used and resultant safety.

  24. willmacufree on

    From the Clumpany’s latest, marvellous.

     

     

    “It 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.

     

     

    And who would want to go through such an undignified ordeal in the Blue Room?”

  25. GlassTwoThirdsFull on

    “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.”

     

    ———–

     

    No need, Paul. That’s the MSM’s job. They’ll be on the case…….

  26. When I hear the word ‘benchmark’ I immediately think of Martin O’Neil and his shrewd use of the word when he arrived. Ironic it is being used once again at this time, but in a different way.

     

     

    With perfect timing their ‘journey’ has reached a terminus where an SFA semi final coincides with promotion to the top league. No wonder the SMSM are in overdrive promoting ‘the myth’. Meanwhile, on these pages Tims are divided into groups more complex that the old happyclappers & mineshafters of years ago; idealists, romantics, cynics, realists, activists, etc etc.

     

     

    Have to say CQN was once the place to go for serious political analysis of football in Scotland and Europe. Contributors were informed, thought provoking, respectful and frequently very funny. Sadly, reading through CQN nowadays is a reflection of what has happened to the game in Scotland. There is every reason for people to take such entrenched opposite views given the absurd situation the game finds itself in, and the contradictory messages it sends out. However there is no reason to consider fellow Tims ‘the enemy’. Its petty and misses the big picture.

     

     

    Personally, I cannot help but link the names Murray and Desmond to the banking establishment. I consider MIH and the Bank of Scotland as responsible for austerity as all the other banks who were ‘too big to fail’, along with all the politicians who gave them a free pass. Politicians who supported the bank bail out, also supported the ibrox bail out. Perhaps because it is the establishment club? Maybe its all a big club? And we are not in it.

     

     

    Celtic Football Club is a big club and its supporters have also witnessed austerity, we call it ‘downsizing’ and it is all due to the wreck-less arrogance of a privileged few who although responsible for putting Scottish football back years, are considered too big to fail, and as far as the media are concerned, are above scrutiny.

     

     

    When I read about the Panama papers, and read the Scottish sports media I cannot think; who is kidding who here? Now I may be accused of being some Marxist by some, but it is clear to me there is one rule for the establishment (bankers, knights of the realm, wealthy) and other rules for the rest of us. That includes paying taxes and being off the medias radar.

     

     

    Anyway I will leave you with a link to a succinct article that does not miss the target, and reminds us of the big picture.

     

     

    http://videocelts.com/2016/02/blogs/latest-news/jimmy-calderwood-lifts-the-lid-on-david-murray-dunfermline-gavin-masterton-and-bank-of-scotland

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

    TET

     

     

    I like charitable donations but don’t let Tony Namechanger nominate or it will be the Lawwell foundation :-)

  28. The Green Man says SACK THE Board on

    EXCATHEDRA44

     

     

    Members of secret societies, posing as referees.

     

    Sevco supporters refereeing Sevco games.

     

    Its a total scandal.

     

    Bent as bananas

     

     

    HH

  29. THE EXILED TIM on 7TH APRIL 2016 2:58 PM

     

    Tony

     

     

    £50, charity to be decided.

     

    Let’s make it £1:00 a week from now until April 7th, 2018 I give you the money you do what you want with it, and the same with me…DEAL?

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