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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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510 Comments

  1. WeeJoe on 7th April 2016 5:30 pm

     

     

    Pjbhoynyc @ 3.05

     

     

    I remember that interview. He actually said something along the lines of : We controlled 4 clubs then, Rangers, Dunfermline, Dundee and Livingston. Guess what they all have in common?

     

     

    p.s. I assumed ‘we’ were murray and masterston.

     

     

    ———————

     

    Indeed. The link between dodgy bank ‘loans’, clubs and stadiums is only facet of the scandal.

     

    ———————

     

     

    willmacufree on 7th April 2016 5:49 pm

     

     

    PJBHOYNYC on 7TH APRIL 2016 3:05 PM

     

    Dermot Desmond is not my sort of guy. Sure he has sailed close to the wind, you don’t grab hundreds and thousands of millions without doing that. Unfortunately that’s the system we’ve allowed to be imposed. But I don’t think we should be linking him with D. Murray. For a start he is a real business man.

     

     

    ——————————

     

    Agree. DD is a very different caliber of businessman than The Mint.

     

    Point I was making was that both have had strong relationships with the banking industry. Indeed DD started his career working in a bank.

     

    Whereas The Mint was closely ‘involved’ with the Bank of Scotland, DD has a long working relationship with Irish Banks and International Banking in general.

     

    Me I believe most of our problems today stem from banking ‘regulations’, both locally (see Scottish Fitba) and globally (see bank bail outs by ordinary tax payers throughout the world).

     

     

    HH

  2. i'vehadtochangemyname on

    Smarmy spin shipe from a new club- we’ll talk a good talk and let on a lesson’s been learnt so that everything ‘s ok and we can wind the clock ten years !

  3. CultsBhoy can not relate to Celtic Board ambitions on or off the park on 7th April 2016 12:53 pm

     

     

    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.

     

     

    *interesting but look at what happened to the inviter and the invited

  4. MAXIBHOY on 7TH APRIL 2016 6:01 PM

     

    …Quite simply we will need a manager who the players respect and will bust a gut for and probably more importantly a manager who has a plan B or C rather than watching the gameplan falter time and time again.

     

    That’s it in a nutshell, we have no guts, Lambs to the slaughter, time for everyone to stand up like Lions, 1967 is becoming a distant memory, time for the Lions of 2016 to roar.

     

    Keep the Faith!

     

    Hail Hail!

  5. Celtic please listen on

    Green man if we had more in our support like you this lie of continuation, sfa corruption may have been confronted suffocated snuffed out long ago. At least your posts are consistent your a Celtic man not an old firmist, it might be repetitive but it is too much for some old firmers to handle. Hail hail

  6. Newco Rangers director, Paul Murray, today, who told us, “the benchmark in Scotland is Celtic”.

     

     

    FF banned list for you, Sassoon.

  7. The Green Man says SACK THE Board on

    Tontine Tim

     

     

    I’ve not been on th blog for a few days.

     

    Have a guess why not.

     

     

    HH

  8. The Green Man says SACK THE Board on

    No….ive been too busy swigging buckfast and pushing my troosers

  9. clogher celt on

    Hi Jerry Cornelius,

     

     

    ‘So you don’t want the books balanced?’

     

     

    To what extent has the balancing of the books been down to the sale of players and Europe in recent years?

     

     

    Europe, next season?

     

     

    With our recruitment policy now gone to beyond carelessness. Who’s to sell? Leigh, Tierney. Rogic, Bitton?Any of the remainder?

     

     

    Our hopes seemed to be based on Karma, The Development Squad (all the best to them), Res 12. Europe?

     

     

    Or maybe the missing £10stg we were told about by our CEO.

     

     

    With Sevco now in the SPFL, how many SBs will we sell, especially given the media hype in Scotland?

     

     

    Will we sell more? Will attendances increase?

     

     

    Will the books balance?

     

     

    These questions won’t be lost on the numbers men at Celtic Park.

     

     

    Will we balance the books and lose our soul?

  10. Green man as you are upsetting the flat earth society you can expect more than your sanity to be attacked. I’ve had homophobia (though I am not gay), mysogyny (though I am not a woman) and been assaulted with a barrage of insults.

     

     

    What greatly a missed me today was that paul67, prompted by the whining complaints of Tony Donnelly attempted to admonish me. In doing so he effectively introduced an offensive behaviour at football act type rule on cqn. Because Tony couldn’t understand the concept of unwittingly propping up racism he instead assumed I was calling him a racist. So he ran off to Paul to complain. Paul then tells ,e that if there is racism on the board I should report it to him.

     

     

    I do not accept Pauls attempt to admonish me. This selective censorship is more than a slippery slope for cqn. Paul of course has gone back into hiding. But like I say he is going to have to ban me from cqn because I don’t accept any admonish,net and actually if the future of this site is Tony Donnelly running away to complain because he can’t grasp points then what a place it’s going to be.

     

     

    Jerry cornelious. It’s not that the books shouldn’t balance, they simply shouldn’t be continually manipulated to downplay profits.

  11. Nye Bevans' rebel soldier on

    Some real fcukwits on here these day’s.

     

     

    I would stay and debate but life’s too short.

     

     

     

    Ps…..oh! don’t look now but the hun’s at the

     

    door, man up or runaway tae yer mammies

     

    crying like a wean and saying it’s no fair.

  12. Maxibhoy around 6:00pm

     

    You stated categorically that Celtic WILL lose the league.

     

    Neganon2 made a similar statement about us losing a few weeks ago.

     

    The wee Oscar fighting fund benefitted when he was proved wrong.

     

    Would you care to donate £10 to Wee Oscar if you’re proven wrong?

     

    I will do likewise if your doomsday scenario comes to pass.

  13. The Green Man says SACK THE Board on

    Neganon 2

     

     

    Water off a ducks back.

     

    The truth offends a lot of people it seems

  14. NegAnon2 on 7th April 2016 6:46 pm

     

     

    I’ve had homophobia (though I am not gay), mysogyny (though I am not a woman) and been assaulted with a barrage of insults.

     

     

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

     

     

    Is this a word game?

     

     

    Is the answer ‘Demented Lezzer’?

  15. CELTIC PLEASE LISTEN on 7TH APRIL 2016 6:32 PM

     

     

    Green man if we had more in our support like you this lie of continuation, sfa corruption may have been confronted suffocated snuffed out long ago. At least your posts are consistent your a Celtic man not an old firmist, it might be repetitive but it is too much for some old firmers to handle. Hail hail

     

    —————————————

     

    Here’s the thing. Everyone on this blog agree that it’s a myth and the SFA are corrupt. So what’s the point in repeating it every 2 minutes (for most of the day) at people who already agree with you? It’s like asking the fire brigade into your front room and screaming at them for hours on end that “fires are dangerous!!”.

     

     

    Fires are dangerous BTW…

  16. TGM2

     

    Where’s the truth in the scurrilous assertion that the Celtic board is corrupt?

  17. Couple of questions that I fear nobody will be able to answer.

     

     

    Firstly, do the team wear some form of computer tracking device that monitors what they do during games?

     

     

    Secondly, if so, are these data used to determine who plays?

     

     

    Thanks,

     

     

    Rebus

  18. Think I’ll stop watching the news.

     

     

    All I see is Chinese or Indians raping engineering bases from all over Europe, at least the yanks have the balls to challenge them, although assisting them in culling engineering here, bassas :(

  19. If only we’d signed Demented Lezzer. Unflappable at the back and able to negotiate a few hairy passages in play last time I watched…

  20. GG

     

    The very fact that someone is on a board of directors, be it our club or any board on the planet, will imo render them corrupt, else they wouldn’t be on a board, tis what they do.

     

    HH

  21. Burgas Hoops on

    I’VEHADTOCHANGEMYNAME on 7TH APRIL 2016 7:11 PM

     

     

     

    Anybody listen to snide?

     

     

    You just made my mind up for me -))) aff out with the dogs !!!!!

  22. Joe Filippis Haircut on

    Tony D Fella I like your fighting spirit but for me you are choosing to miss an important point and that is we used to think we were being cheated..However we now know conclusively we were and are being cheated and it is only a drunk or an idiot that volunteers to play in a rigged game unfortunately our board appear to be happy to play in a rigged game so myself and others are going to walk away from the game it makes sense to me. H.H.

  23. GG @ 652pm

     

     

    I will donate £50 if I am wrong though I don’t quite understand why I need to donate to a charity for giving my opinion but no problem. I already donate generously to charity so a little more won’t hurt me.

     

     

    You also say that The charity benefitted from NegAnin being wrong but how was this possible when the league is not finished yet. Perhaps I just misunderstand what you were saying.

     

     

    Anyway hope I’m wrong but this is what my gut instinct tells me.

  24. Better known Celtic managers, the key word here is known, than Ronny have blown leads in the League.

     

     

    Jock as a result of a tired and aging squad, also by letting good players leave who could still have done a job, i.e. the Bear and Wispy, not forgetting the Assassin, John Gorman, Willie O’Neil and his petulant treatment of the only Scottish based player to score in 2 EC Finals.

     

     

    Big Billy and Davie Hay, the Board have been blamed for both of these but like Alan Sugar (the architect of the current Spurs rise back to the top) said there’s not a manager out there that disnae ask for just one more player to make the side better. bader, adrvark and naesurname are proof in the pudding that this doesn’t always work especially chasing European glory.

     

     

    MON, before there is any leaping about with cheatin, ebts etc being mentioned, the former has been going on since primrose-ure pledged the deceivers tae the craft and the manager at the time went sailing tae the bottom of the Clyde.

     

     

    I know MON had his personal problems to deal with (as have many others but still got on with it), that and losing Henke can be blamed for that final season but we did compensate for the latter by bring in the Welsh Wizard, unfortunately like Jock a tired and jaded side couldnae see us over the line.

     

     

    WGS should have left on a high after Tommy Burns Thursday, especially when 6 weeks before he was told to GTF. His final season was dismal as his motivation had gone.

     

     

    I still maintain that the fans carried the team over the line in the Centennial Year, don’t forget those last minute goals when wee doddy, no friend of ours, when at swinecastle said that when other teams are in the bath Celtic are still playing, 10 men won the League, Love Street 86 and Wim’s stopping the dreaded Steau influenced TIAR.

     

     

    NFL, went up tae the highlands leading the pack and due to bizarre tactics lost the League that night in what can be described as the deid teams last hurrah, the scoreline flattered us as we scored in the 90th minute. Nae excuses about denied penalties etc, shouldnae have happened as the hard work had been done 10 days before at the bigot dome, we also finished the season scoring 12 goals in our final 4 games with shut outs in each including away tae kilmasonic and the jambos as well as the Cup Final .

     

     

    I could add James Edward to the list. A much maligned manager who took over a declining Celtic side from the one that had won the Empire Exhibition Cup, saved them from alleged relegation with the offer to resign after it, built up a new side reminiscent of Wullie Maley after the break-up of his 6-in-a-row side, brought in legends like Charles Patrick, Bobby Collins and Willie Fernie, moving John McPhail to centre and replacing him with Bobby Evans in the right half position.

     

     

    He managed the side to the St Mungo Trophy, Scottish Cup, Coronation Cup, first Double in 40 years, 1st League Cup as well as the 7-1 game; we were also 4 times finalists in the SC, once in the LC and 2nd place in the championship, no bad for a perceived failure. Oh and he also guided us tae the semis of the SC in that glorious year of 1965.

     

     

    The legendary 7-1 side was flying until the end of December when we lost 4 in a row. Charles Patrick was lost for most of the season, Billy McPhail suffered a career ending knee injury which affected his goal scoring partner Sammy Wilson who incidentally we had signed on a free from the Buddies, imagine the furore if this happened now, biscuit tin mentality.

     

     

    The Kelly Kids, including John Colrain, Jim Conway, Matt McVittie, Alex Byrne and Vince Ryan just weren’t ready although a young Eric Smith slotted in without any problem gaining 2 caps, however like wee ten thirty he was so disenchanted with the board interference that he left for Don Revie’s Leeds.

     

     

    Due to erratic results our initial form slumped and we went out of the cup to eventual winners the Bully Wee finishing a distant 3rd to title winners the jambos who really were a superb team then, but so should we have been.

     

     

    To compound the injury problems of the previous season we then sold the Wee Barra and the Juggler tae pay for the floodlights which assisted the Luftwaffe in locating Clydebank!!!!!!!.

     

     

    So Jimmy is exempt from criticism here. Incidentally, I was once told by a board member that Davie Hay was too nice to be a Celtic manager, whether true or not oul Jimmy was.

     

     

    As for Ronny, the question was asked has the side improved on his arrival, I’ll answer that with the club has, as can be seen by the youngsters at Lennoxtown.

     

     

    Similar to Jock being allowed to leave when the KK where nearing fruition let’s not throw the baby out with the bath water in regards to our own Ragnar Lothbrok. Make him Director of Football.

  25. Rebus 7.02

     

     

    Yes and yes, so I have been told.

     

    Said to be the cause of some unrest, i.e. Standards set are difficult to meet, if met players don’t have energy levels for the actual match.

     

     

    Dismissed as a pile of pish, by me anyway.

     

     

    Eurochamps67

     

     

    MakingupourownanticelticpishnowCSC