Sevco owner, Charles Green, got himself a bit confused last night when talking about Celtic, saying, “Our main rivals, or our former main rivals, across the city, they have had three different companies in their lifespan. In fact if you look at their corporate structure now it’s more complicated than Rangers”.
For the record……..
Celtic were formed in 1888. The officeholders of the club accepted personal liability for all debts until the club became a limited company on 12 April 1897. On that day registration number SC003487 was given to The Celtic Football and Athletic Company Limited – a private limited company.
In 1994 Fergus McCann opened the club up to 10,000 supporters by making the club a public limited company, which then became known as Celtic PLC. It is the same company, with the same registration number, SC003487. On the same day the company became a PLC, Fergus, in his wisdom, registered a new company, with exactly the same name as the old company (The Celtic Football and Athletic Company Limited), in order to prevent another party registering the name, which retains an historical association with Celtic. The new company is wholly owned by Celtic PLC.
Celtic now have in the region of 29,000 shareholders. They, alongside every shareholder in our 125 year history, have made sure that every debt was settled. Go to Companies House web site, click ‘Find Company Information’, search ‘CelticPLC’, for 115 unbroken years of limited liability history.
Swept aside
Green’s problems, of course, are not that people don’t understand Celtic’s corporate structure, they are that last month he told a BBC TV camera that if Rangers were liquidated “the history, the tradition, everything that’s great about this club is swept aside”. Even he must suspect that he is not the best guy to lead his new club forward.
On the alleged illegal registration of players issue, Green was more contrite: “HMRC has still to reach a decision or announce their decision. I understand the SPL has put a panel together to look at this issue and we will contest it every inch of the way. The view of the club, the fans and indeed newcomers like myself is that those titles and those games were won fairly and belong to this (sic) club. We will fight it to the finish.”
At last we can agree. If Rangers won trophies fairly they must (and will) retain them. Speaking to Sky News in March Sir David Murray could not have been clearer that no Rangers players had dual contracts while his board was in charge. If this is the case, Rangers have no case to answer.
However, if the old Lumley-troubler’s memory of this issue has failed him, then matters will take a different course. If Sevco inherit Rangers SFA membership, they will be looking at many years of penalties to compensate for their decade or more of illegal player registration.
Prima Facie Evidence CSC.
The first issue of CQN Magazine for the new season will be with you soon. If you would like to advertise, drop me an email, celticquicknews@gmail.com.
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Bloke109 on 28 July, 2012 at 22:43 said:
Auldheid
It’s a temporary license and I’m still pretty sure they won’t last the season. For your general point though, that was always going to be the case, save them at any cost, and that’s certainly the view of most Scottish clubs. I think SPL chairmen are shocked they went to Div 3 so if they survive, and I don’t think they will, there will be gerrymandering and deals done next June. Same as it ever was? Same as it ever was.
—————————————————–
I was of the same view as yourself in terms of their surviving the season, however, it occurred to me that if the SFA were presented with a three year plan, it is very possible that years 1 and 2 will not produce a break even result, but as long as year 3 shows the first two years debt will be cleared in years 3 onwards the SFA would take the risk that as long as CG could convince them he had the necessary cash in reserve to cover the income shortfall in years 1 and 2, they would approve membership.
The signing of an SPL player Black tells me that Sevco are taking the risk of higher wages to ensure the necessary progress, but the funding of those wages is not totally dependent on football income.
It could be argued that this is unfair to the SFL clubs but the licensing of clubs at that level is to the National Club license standard and not the more exacting UEFA standard applied to SPL clubs. UEFA FFP has a ratio of expenditure to income level to stop non football money giving unfair advantage a principle that does not apply lower down.
So I’m thinking that Sevco can use non football money that other SFL clubs have no access to, over and above the football income advantage they will enjoy anyway to completely render SFL3 and SFL2 as no contests in the next two years.
What I’m asking in effect is have the SFA based approval on three years in the SFL or is promotion factored into the forecasts they accpted? If yes, like a clause that required 4 OF games, the integrity of the contest is totally undermined, hence the need for clarity on Sevco’s financial case.
I hoped that Mo Bangura would turn out to be a great buy but alas I was wrong. Last season I though that it would take him time to adjust to Scotland and that this season he would start banging a few in, Henrik rated him after all.
Today however, he was pretty average and that is putting it kindly, seemed to be unaware at times of where he was on the park, limited ability going forward and not noticeably quick or mobile, he actually ran into another Celtic player at some stage IIRC?
So unless he is adding something else I fear his days are numbered.
paddybhoy1888,
Were you a curly haired wee guy fae DALMUIR?
To be a true Celtic player, you must be fleet of foot.
This is an undisputed truth.
Excellent ole CQNer Bloke109 on CQN @ 23.16
Tricoloured Ribbon on 28 July, 2012 at 23:21 said:
You are a million % correct mate!
It was a grim game,and the hun result made it even worse!!
The weather was good all the same though.We ended up in the Gravediggers.
West Belfast was never a good place to be when the huns beat Celtic,everybody just ended up in bad mood.
Anyway time for a kebab.
Goodnight and good luck to you chara and all Celtic supporters.
TC
He’s near me in the Jungle but only tweets, he knows a lot of CQN’rs
Twinbhoy,
The careers of Murphy,Rasmussen and Bangura have been numbered from day one.The signings of these guys have been an utter disaster and are hindering us bigtime.We have tried to sell and shopwindow them constantly without success.
Bsr,
Thanks, but the red wine has kicked in, an ma latin is naw up to speed, Fr o’Connell wid kill me, I’ll will take it as a compliment……..
Bma
I’m standing in St Peter’s Square in Rome right now.
That’s all I wanted to say!
Hail! Hail!
Sixteen Roads,
Where abouts in that great city are ye from before ye go?
Sixteen roads….
I see the Gravediggers has closed.
Of the Murphy-Bangura-Rasmussen lot, the big Dane looked decent in his first few games. Certainly didn’t look fit enough, and of course rumour has it that is the reason for his first-team exile, but at least in him you could see goals, nose for goal and half a player. None of them will make it with us, and that’s probably the ying to the Hooper, Kayal and Izaguirre yang in shopping at that level. Or, P45 the guy that scouted them.
Time to retire.
Car boot thing in a few hours, shouldn’t be too hot, not expected to reach into the 40’s till about 12.
HH
jimbob71,
Magic mate.Post in on Sevco Media and stand by for meltdown..
jimbob
Enjoy yourself – was there a few weeks ago. Bet you it’s still roasting at half-twelve :-)
The P45 for JP ain’t gonna happen, him and PL are as tight as a….
THE EXILED TIM on 28 July, 2012 at 23:24 said:
It is crucial that the clubs themselves ask these questions and to be heard it is best the questions arise from the support base of all clubs and not just Celtic. That does not mean Celtic do not provide a lead, just that they need not be up front about it. That policy has served us well so far.
Tricoloured Ribbon,
I wouldn’t be able to type the Sevco thingy into my phone, it might crumble in my hands!
*Belinda Carlisle on BBC2. Swoons*
Bloke 109,
It’s hot, very hot! Here with Mrs jimbob71 for our 10th Anniversary, loving it but going home tomorrow.
We’ve had 4 wonderful days, our hotel looks onto St Peter’s Square.
I got some fantastic information by e-mail about Rome from BRTH from CQN. Top top guy.
PS, useless piece of information….our room number is 109!
Bloke109,
What a singer and looker
Auldheid
Thesupporters of all clubs, huns apart have been screaming for a level playing field for years, untill the cheats are made accountable, they will cheat with impunity, you know that as well as I do.
If Celtic are serious, they will have had a word in the ear of te other clubs and the other clubs will do their bidding, they would be foolish not to, we are the cash cow now, and they all know it.
As yet there is nothing happening on the park re the cheating, you even said it yourself earlier that they are being all but guarenteed safe passage to where the powers want them, it’s a feckin joke mi amigo, and it’s being allowed to happen with the condanance of all the other clubs.
Bring back the good Dr. he had his failings, but he didny like being cheated.
Those days are gone, strong stuff, seems to have fallen on deaf ears within our present board.
jimbob
Spooky :-)
Have you been to the ‘keyhole’?
These old BBC2 TOTP jobs are brill.
condanance = compliance
The keyhole?
In saying that, condanance is a good word…:>)
Deffo bed now, nytol.
HH
Faith is diminishing rapidly, ah well, it’s just life as a Tim.
Belinda Carlisle has a very small nose.
Nytol.
God Bless from The Vatican.
Tricoloured ribbon
Ha first post in ages and I’m sussed. Had to look in the memory mirror. St Stephens primary and then St Andrews secondary. Who’s enquiring ?
jimbob
A bit of a walk up to the Knights of Malta place and there’s a keyhole framed around a view of the distant St Peter’s dome. It’s beautiful if you get the right light.
bourne
She does, and there’s a connection to the name in Paul’s headline allegedly, but she’s still goyjuss.
Twinbhoy,
I watched Bangura closely today.
He needs to ditch the Alice band for starters & then he needs some serious coaching.
His mobility is good , but , his work rate and positional sense are well short of what is needed. Looks a wee bit overawed by being at CP
I still hope that once he gets his first goal others will follow, but , at present he is not even getting into the position where he can miss chances…he seems to drop deep when he should be pushing on and vice versa.
I hope he comes good , but I do worry.
THE EXILED TIM,
Never for a solitary moment did I think this battle was won.Never.Take Celtic out of the equation.I said it last night and I’ll say it again.THE Rangers and the clown who passes as a manager knew full well they were getting in as a Newco long ago and it was passed under the camouflage of the Olympic games to lever them in.All this claptrap about Regan and Doncaster resigning or being ousted was exactly that.Utter mince.Who was going to oust them? Ogilvie? The whole Masonic scenario will save them.The only thing that prevented these cheating
b-stards from going straight back into the SPL was the spirit,determination and honesty from the SUPPORTERS of the clubs of the vast majority of clubs in Scotland who I raise my glass to now.I have read here that Celtic have played a blinder in this scenario? A blinder? Naw,I’ll reserve that to Turnbull Hutton who has had the threat of his stadium burnt down,to the fans of Hibs,Dundee Utd and Aberdeen,I salute you.Most of all to CLYDE FC,get on the Olympic podium for the gold medal.The only club who said the tax dodging,under the table paying cheats should have been booted out of football forever.
off to bed
afore i go…
26 images of ye olde Brechin gubbin ICT 2-1 last week
mon you boys in red n white
http://www.brechincity.com/gallery/main.php?g2_itemId=7647
paddybhoy,
Does Daves B and B in Blackpool ring a bell?