I thoroughly enjoyed Chris McLaughlin’s interview with Our Hero yesterday; there is so much to digest. It’s tempting to explore the information that in October last year Craig Whyte informed SPL chief executive and chairman, Neil Doncaster and Ralph Topping, that Rangers were very likely to go into administration and that a CVA was likely to fail.
Was this assertion shared with other SPL board members or did Doncaster and Topping keep it to themselves as they pretended all was well while preparing to change the rules to allow a Newco access to top flight football? There is a whole ocean of duplicity here as fans were kept in the dark while being asked to accept revolutionary changes.
Unsatisfied creditors who extended credit after this date, from HMRC down, will all be fascinated by this admission. As will liquidators BDO.
Tempting thought this question is, I’ll leaving it hanging for now. There is a more intriguing topic.
When asked how much profit he made on his Rangers venture Whyte said, “Any arrangements I made with the purchaser [Green] are confidential.”
The BBC headlines from yesterday, proclaiming that Whyte “brought Green in to buy Rangers” points to the most important matter. While Duff and Phelps were busy using creditors money to try to sell the business, Craig Whyte realised he was the Only Game in Town, and operated a parallel sales process. He had security over the stadium and it therefore didn’t matter who else entered the bidding for Rangers.
No matter what deal they put in front of Duff and Phelps. The Blue Knights, Bill Miller and Bill Ng would never in a position to pull a deal together as Whyte agreed a deal with Charles Green.
It doesn’t really matter if Green had any prior relationship with Whyte or if they were brought together by Whyte’s contacts in London (which both seem to agree on). Whyte had a price to hand over his shares (likely to be £1) and his security over the stadium (this is the interesting bit) and Green met it.
The Blue Knights thought they had a deal, so did Bill Miller, but neither had the stadium. Having secured agreement with Whyte, only Green could deliver a deal; no matter how little was on the table for creditors. Duff and Phelps subsequently accepted £5.5m for the assets of the club, the highest deliverable bid received. The only bid from the population of one who had secured use of the stadium.
Which brings us back to the heading at the top of the page, “Any arrangements I made with the purchaser are confidential.” Agree, Craig, this is not something you want to discuss openly.
This statement came in response to Chris McLaughlin asking how much of a profit Whyte made at Rangers. A more reserved interviewee would have dismissed the question by saying something like “No one but Duff and Phelps made money out of this one”, but our Craig was in full flow by this stage of the interview.
With a glint in his eye he confirmed a deal was done. Forget all the adjectives you’ve heard about the man over the last year, “stupid”, “dumb”, “clown”, this clown gave Ticketus a personal guarantee for circa £24m, put the man who agreed to his terms in place, and then made a profit out of the deal.
I’ve no idea who owns the stadium (could be Green, Whyte or Whyte senior) or what consideration passed for it when Green and Whyte put pen to paper, but this is the crux of the entire deal. Did Craig Whyte secure his profit by signing over the Ibrox security for free, did he sell it to Green at an undisclosed price or does he retain an earn-out interest in the property – and, therefore, ultimately the Newco.
It remains to be seen what liquidators BDO make of the confidential deal between Green and Whyte. Will they see the stadium asset exchange as being in the best interest of creditors or as a deal against creditors’ interests? I hear Charles Green yesterday claimed the company’s property assets were worth in the region of £80m. I’m sure HMRC were taking notes.
Is there anyone left who believes that all Craig Whyte received in exchange for passing the keys of Ibrox to Green was £1? Maybe Mr Green will be keen to explain ahead of his share issue, just to clear up where working capital is going.
There is a great Tribute Night for Pat McCluskey coming up at the Supporters’ Club on London Road next Friday, 26th October. Frank McAvennie and top comedian, Pat Rolink, are both speaking after a three course meal. Cost for the event is £40 per person. The Club holds around 200 people and I hear there are only a small number of tickets available from Pat Rolink on 07905 174275.
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Lennybhoy
Don’t have a half in the house so a bottle of cobra will have to do.
MWD
Awe Naw
And I still have my picture at Butlins in Ayr with Danny when I was 11. Me proud as punch. Danny the professional smiling for the camers but secretly fizzing as I went past him repeatedly.
I played against Danny at Butlins with King Billy looking on.
MWD
Tim Malone Will Tell
It seems like everyone is waiting for the FTT to deliver, if they are found guilty, all hell will break loose.
The msm will not be able to cover things up, they will have been found guilty after an appeal of stealing countless millions from the people.
In that respect, I think the media will find it very difficult to spin something positive, but it’s scottish jurnos we are talking about.
I still don’t expect any major players to do jail time, the likes of CW are expendable.
I would imagine that if any of the players are looking at jail, then we might just see some of them singing, one can only hope.
I would doubt that minty will get his collar felt, he should spend the rest of his natural in jail, but tis never going to happen.
As for the sfa etc, they will all get off scott free, they will spin it as doing the best for the game.
I would like to see someone take the sfa to court over the issuing of licences.
I would also like some club to take them to court over lost revenue, it would have to be a foriegn club.
But more than anything I would like small shareholders take them to court over lost revenue, we have been cheated out of many millions, if and when it is proved that a licence should never have been issued, they will be banged to rights.
I’m sure there will be quite a few lawyers willing to give their time for free if this transpires.
All because they wanted to dominate Timmy, it’s well and truly backfired, stupid, stupid huns, I hope they rot in hell.
Any idea how many Celts are travelling to Barcelona ?
The Thomas Cook bumf for Tuesday states that no bags of any size are allowed in the Camp Nou. Surely not?
At the weekend injuries sustained on Scotland duty keeps Scott Brown out along with Commons and young James are we compensated financially by the SFA and if so by how much.
dannygall
22:31 on
18 October, 2012
total mince, they will search your gear and allow you in
THE EXILED TIM
I actually think their torment is the way they live.
How horrible must it be to know that your sporting life is a lie. False bluster and bravado is one thing but deep, deep down the most base Bluenose will know their club live(d) a lie.
It’s quite possibly why they are angry and hate-filled.
MWD
Were you the wee fat guy in goals ? ;-)
HH
Good to see so much praise of Danny McGrain on here to-night.I have watched Celtic since 1947 and I have seen many fine right backs. But in my opinion Danny McGrain has been the best of the lot. My favourite memory of Danny was a friendly match against Brazil in the mid- 70’s just before the World Cup. Danny’s immediate opponent was a great winger called Paolo Caesar. Danny was so good that night that he had Paolo Caesar in his pocket while he spent a lot of his time attacking down the right wing. I would say that at that time Danny McGrain was the best right back in the world. But then maybe I was a wee bit biassed!
Awe_Naw_No_Annoni_Oan_Anaw_Noo
22:35 on
18 October, 2012
MWD
Were you the wee fat guy in goals ? ;-)
HH
show him at the Oscar appeal otside CP and can confirm he’s not wee :-)
Prestonpans bhoys
Cheers thought so.
Any ideas where a day tripper should visit?
Someone mention Pontins.
I won the Prince of Pontins competition the second week in July 1977. Only entered one beauty pageant and I won, had to beat the mums and girls off with my prize of 5 pencils and a fat colouring in book. If they could see me now.
I also have woń with Tommy Callaghan ..that was the week we gave King Kenny away for 440k
HH
SFTB – From earlier.
The son of our close friends will be playing for QP on Saturday (if selected, of course) so me & the rest of the family are going en masse (an appropriate term,if you get my drift) to cheer the Spiders on.
I won’t name the boy as I don’t want to draw undue attention to him but I can assure no-one on the pitch will be trying harder to GIRU the Sevconian hordes.
One … Not woń …but we did win that day as well ;-)
HH
Danny Gall. I like the old town best, around the cathedral (not La Sagrada Familia, that’s not the cathedral).
If it’s a nice day, it’s lovely walking around the old streets. Lots of great bars for a wee restorative and in no time you’ll be down at the port.
Shieldmuir Celtic, 22:36
Danny McGrain suffered from being so consistently good for such a long period of time that he ended up being taken for granted. And being a full back that didn’t blast them in like Tommy Gemmell didn’t help either.
Still, reassuring to see that the man from Lurgan appreciates Danny’s many unsung qualities
Dick Byrne
Good luck to that young bhoy and I hope you all have a great day out in Sevcovia.
If he scores the winner, don’t be disgracing CQN by taking your tap aff and running onto the pitch.
Dick
You be careful …no magners and baileys chasers give the game away orders ;-)
HH
BIG-CUP-WINNERS
You could well be right.
It’s hard to fathom them, everybody wants to win, but they are happy to win by cheating, the sence of superiority it gives them is like a drug to them.
It’s like when they were winning their 9iar, and were getting papped oot of europe year after year, the msm tried to blame the lack of competition in scotland.
No the reason they kept getting papped oot of europe was fair and honest referees.
Even with corrupt referees they still can’t dominate us, never have done never will, and the fact that they still keep trying shows them for what they really are.
They are lying cheating scum, that don’t deserve to grace our land.
Dick
You have safety helmets and breathing apparatus for the whole family ?
HH
dannygall
22:38 on
18 October, 2012
last time TC dropped you off at a “celtic supporters area” with food,drink and music don’t know if they are doing that again. I would go on the open bus which is about 15e? and you can drop off where you like.
Word of warning TC will pick you up hours before the game. You can get off the bus and go to a pub outside the park, otherwise you’ll spend two hours in the park before the game.
http://signedsport.co.uk/images/TG-typhoo.jpg
shieldmuir celtic
22:36 on
18 October, 2012
Biased? ……. merely a good judge of World Class talent ……..what are you doing up at this time, anyway..?….LOL
Bhoys and Ghirls- anyone know of decent Benfica away packages, preferably from Ireland??
HH
Took junior to the Hampden Museum on Tuesday. In the museum, there is wee speel about hooliganism taking off on the late 60s / early 70s. Our game v Waterford in Dublin was mentioned, along with the 1972 ECWC fighting. Then I discovered this gem: “For the first time the media started to link the hooliganism with the sectarian traditions of the clubs” (yes, plural).
Jeez, how wrong can you be?
DJBEE
22:24 on 18 October, 2012
The name you’re looking for is Daniel Cousin, and you are right, it was the first sign that the administration was going to reek.
Prestonpan Bhoys
This time TC are taking us to the Nou Camp direct from the airport, at 1035 am! The stadium is 7km from the city centre!
The rest of the day is “at leisure!”
dannygall
had free tickets for open doors day, but refused to go. Will enter that midden only to see the bhoys.
Brewster could have got rid of his millions no bother if only he haf the chance to buy shares in sevco…
Haf? Had – stoopid phone
Sir Paul
Nutsy, done says..
“Never bin one to look a gift horse in the face…
So..
Having sad that..
I have bet.. Celtic over Barca..
and
Hedged that .. with
a
Celtic and Barca bet, to tie.
Five Hundred Dollahs Bet.. on a Celtic Win.
Five Hundred Dollans Bet.. on a Celtic and Barca Tie.”
And ye know sumptin’???
Ah am gonna bet a Few Dollahs oan Celtic tae Win or Tie.. Masel.
Hey! It’s Only Money?
Right?
and Virginia.. Agrees,as Well.
Kojo
See you Fellahs…
Still. Laugnin’
moonbeams wd. kano 1000 \o/ supporting neil lennon 100%. champions. c’mon wee oscar.
Wow! thanks for that post about wee Oscar. It really does show you the strength of not only the wee mhan, but of his family. I read that twice and by the end of the second read I still had a tear in my eye. It really does humble you and puts all your worries into perspective. I only wish I was as strong as the Knox family. Keep fighting Oscar, you have the whole celtic family behind you. Every one has a cross to bare, and eventually we stumble and fall like Jesus. Eventually we all lose the fight. But by god the wee man has fought hard and long…and he ain’t for giving up. Thoughts and prayers for oscar and his family.
dannygall
22:58 on
18 October, 2012
Prestonpan Bhoys
This time TC are taking us to the Nou Camp direct from the airport, at 1035 am! The stadium is 7km from the city centre!
The rest of the day is “at leisure!”
that is pish from TC find another 4 bhoys and get a taxi to the centre!
Dannygall – ulster museum in belfast is riddled with basic factual errors. reported a few but no response. Modetn museums are rubbish
Evening Bhoys and Ghirls from a cider sipping Donegal .
Last couple of nights in Ireland , back home on Saturday , only things I’ve missed are Celtic , family and a more frequent serving of CQN .
Great being in a Zombie free zone , the air seems a lot fresher over here .
Looking forward to the Race Night for Wee Oscar , hope to put a few more faces to names .
Celtic_First & Awe Naw,
I have my bases covered – if Queens win I will jump about mental, laughing & pointing at the Sevconians. On the other hand, if Queens lose I will point & laugh at the Sevconians, while jumpimg about mental.