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Newco will have to Surrender

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Murdoch MacLennan’s Q&A, available here on BBC, and Neil Doncaster’s interrogations by various media yesterday, laid out the absurdity of the SPFL’s Trail Without Evidence.  MacLennan wrote:

“I have been provided with no evidence whatsoever that any club has been bullied or coerced.

“In the absence of any such report, [Rangers (sic.)] alleging “bullying and coercion” risk bringing the game into disrepute and sowing further unnecessary division.

“The suggestion of issuing loans is a red herring…….  The last loan made by the SPL was more than seven years ago, in unique circumstances to a single Member, secured against a personal guarantee given by a wealthy supporter.”

Ann Budge disputes the latter, in an attempt to sound more jaked that she probably was, she claims to have approved a loan to a club when on the SPFL board, but she cannot remember which club.  Honestly, these people are being taken seriously in some places!

He goes into great detail about how and why matters progressed as votes came in on Good Friday.  He responded to Partick Thistle’s horror at the financial consequences of relegation: “We have to remember that the league is a sporting competition. Each year we have promotion and championship wins for successful clubs, and regrettably relegation for the unsuccessful.”  Pick that out of the net, Jacqui Low.

And still, 20 days on from the vote, no evidence of bullying or wrong-doing has been presented.  The chairman is correct, the game has been brought into disrepute by one club, that should be brought to task.  Newco know with 100% certainty they will lose their EGM vote, but still they prevaricate, perhaps wondering how they will sweeten the Surrender pill for their fans to swallow?

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  1. FAVOURITE UNCLE on

    Rangers defender Ross McCrorie reveals he almost quit Ibrox after tearful U12 experience

     

     

    OK who had him in the herald sweep???

  2. We need to be on guard should next season start. No messing about. Get maximum points from the off. No thinking it will all be ok after Christmas.

     

    If the virus returns and we are down on points/game then there will be a clamour to end the season early.

  3. glendalystonsils on

    TERJE VIGEN

     

     

    Don’t worry about the clamour . The Rangers will resist it . They are dead against that sort of thing you know , and their many friends in the media will back them.-))

  4. THE BATTERED BUNNET on 30TH APRIL 2020 2:11 PM

     

    GG wins! :¬)

     

    ………………..

     

    I’d like to thank my agent and my wife for patiently watching my CQN rambles.

  5. Rock Tree Bhoy on

    VitalFootball web site – a cart load of horse shit,

     

     

    their lates click bait headline is “Here We Go 10IAR – Celtic fans celebrate title number 9…”

     

     

    and then when you go there its…

     

     

    “Celtic could be set to be crowned SPFL champions ….”

     

     

    in other words nothing has changed – kiddin on the’ve got info when they haven’t…

     

     

    Vital Football – Spam Sellers – dont go there..

  6. Coneybhoy @ 12.14 ………………as a guy said, this public house lockdown is turning us all into alcaholics.

  7. Anyone for moving to Leitrim?

     

     

     

    “Hear ye, hear ye – all ye disgruntled citizens of the British Isles – In a nearby land, at the foothills of Donegal, along the Lakeshores of west Cavan and Fermanagh, not far from the dry plains of Longford and Roscommon, in the bosom of the County Sligo and kissing the Atlantic ocean – There is the secret hamlet that lies in wait… Come, grab a piece of our Lovely Leitrim rainforest…

     

    We welcome strangers and their strange ways with open arms. We want you proper, decent English’s to come and live among us… We are lonely and will talk to anyone.

     

    Bring your poodles and your poo bags and mind the cow’s shite… reboot, re-reg, re-locate… take tour wives and your previous wives to a land of opportunity.

     

    For those of you who are retired or who don’t like work, Leitrim is an oasis of unemployment, (so bring your own money) but you could be playing for the Leitrim hurlers before the winter chill is gone

     

    We don’t have afternoon tea, as we still eat the dinner during the day, but if you stay, we can have after dinner tae, with a bit of soda bread and rhubarb jam. Fear not of traffic jams as we have one set of traffic lights… but they are constantly on the move.

     

    Our schools are almost empty, so class sizes are very small – we have yoga for beginners and there’s bingo in the hall every Monday, Wednesday and Friday…

     

    We know yez don’t go to mass, but if you could go to some of the sadder funerals and then, the ones that aren’t as sad, maybe send a card, we accept all cards… Mass cards, Sympathy cards and Get well soon cards. (Put ‘Belated’ on the ‘Get Well Soons’). All other cards are null and void – We are a cash state! Credit cards and debit cards will be spat into your face, because of poor broadband and tax fraud.

     

    You can change large notes and sterling in a certain pub that looks like a house, where you’re also welcome to join in in the sing along – slow soulful versions of ‘Swing low, sweet Chariot’ are acceptable after 2am, ‘Come out ya Black and Tans’ and sing with us, when we’re singing soft and low. The Gourmet chip van is parked at the traffic lights – The Traffic lights are attached to the back of the chip van. They both move together.

     

    We don’t encourage Garden fates or car-boot sales – but there are four cattle markets taking place each week, in memory of our farming past… Approach these gatherings with caution or by Garda escort.

     

    There is a great sporting tradition within the county, but you may also bring your cricket bats and your wickets and some of us will stand in goals.

     

    Bring also, your opinions and persuasions and keep them to yourself. Help others, as they’re the only ones that can give you directions.

     

    The Google Maps Van got stuck in a gap up near Dowra and never came back. But our roads have no tolls or white lines, you can drive on either side as long as you have an indicator on.

     

    Mind the bushes and the potholes and there’s one set of traffic lights, that might be on its way to somewhere else.

     

    Post Brexit ‘Britten’, come join us. Come down from your lofty heights of delusion. Wipe your feet on the mat of eventuality and step across the border of discontent. Come in and make yourself at home.

     

    Come in and we’ll drink Gunpowder Gin – till the cows come back from the factory. Together we can learn the guitar and start a ballad group…. And after fourteen years, if you’re not happy, you can ring Joe Duffy.

     

    Post Brexit England – ‘To Hell or to Connaught’ – we lie in wait… we look out from the rushes and the Sitka Spruce – Honk your horn as you come in to Carrick – Speak up, as some of us… well, our English isn’t great… but to paraphrase your own Mr Shakespeare :

     

    When in disgrace with fortune and men’s eyes

     

    You all alone beweep your outcast state

     

    And trouble deaf heaven with your bootless cries

     

    And look upon yourself and curse your fate

     

    Wishing you, more like one rich in hope

     

    Featured like him, like him with friends possessed

     

    Desiring this man’s art and that man’s scope

     

    With what you most enjoy, contented least

     

    Yet in these thoughts, yourself almost despising

     

    Haply you think of Leitrim and then your state

     

    (like the lark at break of day, arising

     

    From sullen earth) to sing hymns at heaven’s gate

     

    For our sweet county remembered, such wealth brings

     

    That you and I scorn to change our fate with that of kings.

     

     

    Bravo Romeo Exit Stage Right.”

  8. One wonders the how the current crisis will eventually have a serious affect on the EPL and the ability of it’s Paymasters SKY to continue paying out vast sums of money to English football.

  9. fairhill bhoy on

    BOGNORBHOY@2:43pm

     

    Tinseltown in the Rain is a favourite of mine big time 👍

     

    My brother n law and i get drunk and sing it as a duet at every party we can 👍

     

    Magic song magic memories 👍

     

    Thanks for the reminder 👍

  10. WEET WEET WEET

     

     

    From previous thread…………wonderful!

     

     

    You don’t post often enough!

  11. No sign of SOUTH OF TUNIS?

     

     

    Hope he is OK.

     

     

    I know his Dad is in his 90’s, hope he is ok too!

     

     

    Wee prayer said anyway.

  12. Greetings All:

     

    I’ve been mulling over just when and if Sevco will go into administration and I have just done a back of the fag packet assessment of their pluses and minuses. I have no special knowledge of any of these factors, and there is some guesswork. As with most of these events, the sequence and timing of each element is absolutely crucial.

     

     

    Alongside their penchant for kicking unfavorable cans down the road, it seems to me that events may be coalescing to allow Sevco to cloud issues in their favor and to obscure reckless brinkmanship, fiscal mismanagement and corporate malfeasance.

     

     

    I have separated factors in their favor from those that prejudice their existence as follows: They are not in any specific order.

     

     

    IN SEVCO’S FAVOR.

     

    1. Europa Cup payouts. I don’t know when they are paid out, or if they already collected them, but they are generous. They are £2.92M for the Group Stage, £570,000 per win, £190,000 per draw, runners up get £500,000. They get £500,000 for the round of 32, and £1.1M for the round of 16. I didn’t look up their results, but I believe they finished second in their group.

     

     

    2. Prize money for runner up in the SPFL IS £2.4M. They could get that next week.

     

     

    3. Seethin’ G and the squad are on 3 month wage deferrals.

     

     

    4. Ashley’s court decision regarding compensation has been deferred.

     

     

    5. Other deferrals include the Memorial Walls suit, possible law suits by Elite and Hummel, and any other creditor claims.

     

     

    6. The SFA are guaranteed to give them the nod on a European licence for next season (assuming there is a next season). A well respected blogger on here has stated this will happen and that Celtic will not oppose it.

     

     

    7. UEFA, because of a catastrophic drop in funding, are likely to waive FPP rules, and allow funding from any source, be it oligarchs, rogue states, the Mafia, or Democratic Unionists.

     

     

    8. HM Government has already legalized trading while insolvent.

     

     

    AND NOW THE BAD NEWS FOR SEVCO.

     

     

    1. Wages have not been cut. In 3 months, they have to pay Seethin’ G and the squad all their deferred wages.

     

     

    2. Several home games, including a money spinner against Celtic, have disappeared.

     

     

    3. Celtic will probably be declared league winners within a week. The Dutch and French leagues have taken a decision away from UEFA by declaring there will be no Eredivisie games, with or without audiences, before September.

     

     

    4. Close Bros are owed between £4M and £7M, depending on the source. These are securitized, and include the giant screen, all kitchen equipment, and title to the parking garage that provides access to their upper deck. Losing the latter would be a sore one, and I think this will be paid back, although goodness knows how.

     

     

    5. Transfer tranches are owed to various Clubs, including circa £2.3M to Liverpool for Kent. My guess is that they will be unable to pay this, and will simply return him to Liverpool.

     

     

    6. Ashley’s bill will eventually come due, and all indications are that it will be a doozy.

     

     

    7. They owe The Lying King £5M with interest. I would be surprised if this is not securitized in some way, but against what? There is nothing left, except the stadium. I think they would love to stiff King the way Murray stiffed him, but there must be something in place to prevent that.

     

     

    8. VAT is typically due about now, and may be in the order of £2.5M.

     

     

    9. Some sleuths on SFM have dug into the accounts for Parks Motors at Companies House and found recent floating charges by Santander Bank. No one is buying cars, or leasing cars and buses. In fact, Park has nowhere to put cars coming off lease. It hard to imagine him giving them any more loans anytime soon.

     

     

    10. There are rumors they are talking to Puma and New Balance about a new kit. But who in their right mind would enter into an agreement with them in this environment? A financial and legal quagmire, no guarantee of football until goodness knows when, and Ashley with the rights to meet any offer?

     

     

    I have no idea what their monthly cost would be to mothball the whole operation. Aberdeen say they are hemorrhaging £1M a month, so it is going to be a lot more than that. Their web sites are convinced they will sign Hagi and Dykes on the cheap. If they do, and keep Kent, you know they must be getting money under the table from somewhere, best guess Northern Ireland.

     

     

    The above is to stimulate discussion or anybody’s guess as to where this is going. I’m actually starting to worry about Celtic’s future, if the pandemic is prolonged, or if there is no one left to play against. If some of the Championship Clubs in England go under, which is a distinct possibility, you never know – there might be possibilities down there!

     

    IniquitousIV

  13. FAIRHILL BHOY

     

     

    A wee bit of a worry!

     

     

    All well here pal!

     

     

    Just getting ready to meet the neighbours in the courtyard at 8.

     

     

    A wee blether and a bevvy from a safe distance of course.

     

     

    Hope you and yours are good too!

     

     

    A big thanks and cyber hugs to your lovely and brave good lady, who I believe is on the front line.

     

     

    God bless you both.

  14. !!Bada Bing!! on

    Loving this: Donald Findlay on @BBCScotNine tonight, hitting out at the prospect of SPFL reconstruction and, perhaps more surprisingly, at the behaviour of Rangers. “Disappointing” “this is not how Rangers used to behave”, he says.

  15. fairhill bhoy on

    PHILBHOY-hopefully everything is fine and he just can’t remember his password 😉

     

    She’s doing her bit mate.Enjoy your wee get together at a 2m distance 🍷🥃💚

  16. Back to Basics - Glass Half Full on

    Iniquitousiv …

     

     

    Last accounts published had a going concern of £10m.

     

     

    This factored Europa League Group Revenue.

     

     

    This did not include Kent registration.

     

     

    Say £2m each for Braga and Leverkusen less 40% down on Kent at £2.8m (if you believe the £7m fee).

     

     

    Five league games at home not completed possibly another £1m match day revenue lost.

     

     

    No prize money

     

     

    No commercial income of note.

     

     

    Hole is probably still £10m.

     

     

    BTW – Kent’s registration was transferred to Sevco.

     

     

    He is theirs. No returns.

     

     

    Liverpool now a £4.2m creditor.

     

     

    They join an ever growing list of organisations each owed £4m plus by Sevco.

  17. IniquitousV

     

    Good bit of writing there,

     

    would expect them still to be due the European and SPL money,

     

    that will mainly be eaten up in costs for the last few months

     

    and the deferred wages.

     

    Hopefully one big hit from the courts will be the end of them.

  18. fairhill bhoy on

    BADA-he did.That video of him singing party tunes and getting patched must still burn😉

  19. fairhill bhoy on

    Honestly can’t see them just disappearing.

     

    I would like to see them just struggle on anyway

  20. Fairhill Bhoy,

     

    I am with you,would love to see them struggle on

     

    and watch us pull further away from them,

     

    but i hope for another administration/liquidation

     

    just to see how they spin that.

  21. INIQUITOUSIV on 30TH APRIL 2020 7:10 PM

     

     

    Although the gov have said the law against wrongful trading is to be suspended as from 1st March , it hasn’t yet happened, and the details aren’t yet known. I doubt that directors will be allowed to do what they want without restraint, particularly where there have been going concern warnings in the accounts.

     

     

    Fraudulent trading will still be illegal I assume.

     

     

    The problem for Celtic is how to emerge from all this without losing the financial advantage currently enjoyed. A prolonged period of reduced income will soon burn cash reserves unless economies are made. Not an easy situation given the number of uncertainties involved.

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