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.
Fancy writing an article for the ever-popular CQN Magazine or maybe advertising therein? If so get in touch, celticquicknews@gmail.com.
Click here to read the fabulous CQN Magazine for free, or strain your eyes squinting below. You can also buy a hard copy of the magazine here from Magcloud.
[calameo code=000390171a36dad35d58c lang=en page=76 hidelinks=1 width=100% height=500]
638 Comments- Pages:
- «
- 1
- ...
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- »
Lennybhoy – A big glass of tinto raised tae yer da; i hope my wee da is keeping him company; God bless all the dads up there waiting:)
slainte
tony
LennyBhoy – I’ll raise a can of diet coke to yer old man, dont drink during the week. Ma da was 30 yrs ago this month . If he was here now he’d probably laugh at me trying to understand my teenage son. Why is it they always know better when your the one with 30-40 years experience?????????????
dick byrne
23:05 on
18 October, 2012
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.
Takes me back to getting forcefully asked to leave the midden after Paul Byrne( a relation?) scored a cracker against oldco. I only kissed John Collins for goodness sake.
£17,000,000 divided by 9000 pledges gives you £1888 a pledge.
Who says Craigy Bhoy does not have a sense of humour…
asonofdan
23:12 on 18 October, 2012
£17,000,000 divided by 9000 pledges gives you £1888 a pledge.
Who says Craigy Bhoy does not have a sense of humour…
How does that work for the £120,000 I have pledged in multiple identies
Kojo
23:00 on 18 October, 2012
There could be a wee surprise at the Nou Camp, it all depends if we have the right players available.
We definitely need Broonie, Sammi, Jamesie and the Moscow Hooper to be playing and obviously Victor for Victorious and even Lustigo is now making himself known. I have nothing but good feelings about Efe, as he is exactly what our Central defence needs and it may not be obvious yet – he has total belief and that can be infectious. ;)
I think we can get a draw there now, perhaps even 3 points. We can also get spanked 6-0 but still beat them at Celtic Park. ;)
Danny Gall – dont worry about being dropped off at the stadium , there’s metro stations all around, 10 mins into the centre.
petec
23:16 on
18 October, 2012
yep, who knows what will happen. Night all in celtic land.
Nothing to lose in the Camp Nou….play Paddy, Sami & KC with Hoops.
We don’t have enough quality in defense to stop them scoring, so let’s have a go at them.
Let’s leave the bus parking and anti-football to lesser clubs!
Now the return game at CP….that’s a different story! :-)
T4
Seemingly the reason Duff and Duffer wanted Cousin was Willie McKay had already banked the 70k signing on fee.They then realised they couldn’t afford his 7k a week basic.
http://www.u.tv/News/Wee-Oscar-back-from-the-brink/733dbccf-c833-41fa-a168-d5573810f36c
Incredible stuff. The link is heartbreaking to read but inspiring all the same.
Keep fighting young Celtic Man.
God Bless Oscar’s Mum and Dad especially and lighten their burden by restoring the wee man to some sort of normal life.
AWWWESOME Oscar.csc
My dear,dear,dear,friend.. Petco.
Hiya, Pally?
No gone ,yet..
Yep..
We Kin Win .
Didnae We no Beat Them, before?
Or..
Am Ah wrang??
Hmmmmm..
Mebbe, Ah am..
Anyway..
The Odds against Us tae Win..
Are
Doonright..
Straight Fae the “Twilight Zone”…
In MA.. Nevah Humble Opinion..
As, Nutsy, Ayewiz says..
When it comes tae Celtic..
ANYTHING KIN HAPPEN…
and..
He is Deid Right!!!
Again..
IN MA NEVAH .. Humble Opinion.
Nice Chattin’ Pally..
And keep oan Tellin’ it like YOU SEE it!!
Kojo
Yer pal…who thinks ye ur the Cat’s Nightwear.
Still, Laughin’.. of.. Course.
Sorry Aboot that Slip..of the Fingers..
PETEC..
Ma Sincerest Apologies,palomine..
“Ready, when You are.. C.B.!”
Kojo Still. Laughin
sipsini said
“………………………even some huns I no with a sense of humour enjoy billynowells work.hail hail”
…………………………………………..
Huns wi a sense of humor are very thin on the ground these days.
HH Bruv.
Awe naw. 19:16
Fantastic work
tommytwiststommyturns
23:22 on 18 October, 2012
Celtic can’t stop Barca scoring IMO, they are way in advance of the David Marshall, JK game now.
What Celtic can do, if they are bold enough, is counter them very well. If we take our chances and I reckon we will need 3 goals to get at least a draw, then I think we can surprise them.
The essential player, except Fraser is Broonie. If it is a risk to play Broonie I wouldn’t do it and save him for the return leg.
The Celts should not fear Barca because they destroy every team there and nothing ventured nothing gained. It’s a no lose situation IMO, let’s hope Spartak and Benfica draw both their games.
Daniel Cousin aye I remember now, Craigy’s preferred appointees definitely had the best interest of the shafted creditors at heart, do the creditors now deal with BDO I think they might be a bit more sympathetic.
Lots of love and prayers for Wee Oscar and his family , you are an inspiration to us all .
Awe Naw,
Butlins 1977, even then I was a refusenik , not interested in Tommy Callaghan because he wasn’t up to my very high pre-pubescent standards.
The exiled tim.
Your post is spot on.
They are indoctrinated with the watp attitude.
It’s so enjoyable to watch them avert eye contact with me everyday at work.
You reap what you sow.
Lying cheating bass.hh
Kojo
I, Petco, solemnly declare, I concur. :))
I’d rather lose the first game 7-0 and draw the 2nd 1-1 than lose the first game 1-0 and lose the second 1-0.
A lot of dynamics happening in this game as Barca can qualify if they beat us at the Nou Camp.
Neil will be well aware of all situations.
sipsini, there’s one I work with and we used to have some good laughs on a monday morning. I dont think we’ve spoken for about four months. We used to go out in Aberdeen if I was staying there, get an indian, get wellied and usually ended up in the lap bars followed by the cassino.
He’s a very dull boy now :-(
He trusted in craig, and now trusts in charlie.
More fool him.
Join me in a toast. Here’s to my uncle tommy maley.
Funeral.was today in st brides, cambuslang.
Grandson of the great willie maley. Just 2 other grandchilren left…willie and monica.
maleys bhoy
Hail Hail Tommy Maley.
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!”
The stadium is more like 3 or 4km from the city centre. An easy taxi ride in about 10 minutes.
My dear,dear,dear,friend.. Petec
You are a Real Mensch..fur ye took that well..
So ye ur.
No Miny like ye..
You are Perfectly Correct… when ye say..
That.. Efe, is much mair than jist anither.. NewBie..
Well. Ye didnae .. Exactly.. say that..
But..
Ah am sure the ye wid hiv..
IF YE.. HID .. HID…SAID.. it!
Neil, stubbornly, Disnae Agree wi’ me,oan whith Ah am aboot at write..
Efe, should Be in the MID FIELD.. no.. the CENTER MID..!
Hey.. mebbe, Neil wull be . .FORCED . tae pit him there. agin the BARCA.
Fur. Broonie may no mak it..
Kojo
Yer pal. .who thinks ye are swell.
Still, Laughin’
petec – if we’re honest, the best we could hope for would be one point out of the two games.
So feck it, let the players go and enjoy themselves.
The home game against Spartak and the tough away tie in Lisbon will determine where we end up. I’ll be happy with 2nd or 3rd, so long as we have European football to look forward to in Feb/March.
Night all
T4
Oscar’s smiling face puts all our silly hopes, dreams & expectations into perspective.
What a role model this incredibly special wee hero is to each & every one of us.
_______________________
Rest in Peace, Tommy Maley.
Sorry to here maleys bhoy, sad news. Glass raised n god bless.
My dear,dear,dear,friend… Maleys Bhoy
Pal. Ah am sorry tae Hear that..
As ye know.. or mebbe, ye dinnae..
Ah . .KNEW . Tom..
Ah met him several times.. when Ah visited. Mansion House.. Road..
Many years ago..
When Ah steyed in Tantallon Road.. wi Ma Uncle. Lou..
My sincere regrets and commiserations tae Tom’s Family..
He wiz a Brammer.
Kojo
Yer pal. who likes ye already.
I apologies, I only got as far as the ‘I thoroughly enjoyed Chris McLaughlin’s interview’ line and had to let it go, Im not ready for this kind of thing but I’ll go back to it when I can get spare ribs…
On browsing but no read back, just enjoying some music and thought Id peak in (the late night YouTube-CQN link remains strong, hope it does for years to come.), thought Id post as when you think about it WOW its amazing where we stand today and where long lost rivals stand. Still think theres cheating to be sorted out and have confidence ooor Pedro and Paul will have that covered but being away a wee bit and looking back, wow, theres no rangers and the daft wee imitation band are struggling to re-create that agricultural football v the more established clubs like Elgin and Annan Athletic (Is that Eddie Annan and a few mates?)
Anyway, tonight on the flyer out of the work at 5pm and the start of the weekend a mad bamstick flew into my works motor, took a while to get hings sorted and I ended up in a Qatari police station in the middle of the desert one hour from Doha/civisation and just me getting paranoid with a load of folk talking Arabis or Hindi.
Police fella comes in ‘where you from?’
Me ‘Scotland’
Him: ‘Aahh, the UK?’
Me: ‘No, close to it’
Police: ‘I know that, near UK?’
Me: ‘Yes beside Europe and the UK’
Police: ‘Ahh Scotland, Glasgow?’
Me: ‘Yes, the biggest and best city in Scotland, our Capital’
Police: ‘Ahh, Glasgow, Celteec?’ *Smiling*
Me: ‘Yees’ *Too paranoid in wee desert police station to say any more*
A few seconds pass…
Police: ‘Or Glasow rangers?’ *Suspicious look*
Me: ‘Wo wo wo wo, know know mate’
*He nods and laughs*
Me: ‘Celtic, theres only one team, rangers died’
Police: *Nods* ‘ I like Celtic, they are my team’
I left that conversation to go back to absolute paranoia in the destert when an Arabic fella has crashed into you. Maybe the Celtic thing saved me? Ive no got a clue.
No matter what we are living in great times.
Kojo
Efe was caught early in Moscow by the sheer pace of Spartak’s front boys but he never let them beat him.
Efe is a CB, make no mistake about that ;)
I commented previously that Efe was ball watching slightly at their goals. Let me tell you something about that. That means Efe will never make those mistakes again.
Infectious believers of Efe are hopefully ALL the current Celtic CB’s. ;)))))
A ceiler gonof rust.
I no there’s a lot of twisted hurting huns out there.
Just saying some still can appreciate a funny and clever interpretation of their demise.hail hail
tommytwiststommyturns
23:51 on 18 October, 2012
An Excellent comment. I’m sure Neil is saying the exact same thing to his young Heroes.
The pressure is totally off Celtic.
There is something saying to me that Celtic are going to be surprising a lot of teams this season. ;))))
Sheesks
I came on to ask for Kitalba’s email and 001’s current one (;) to sort out that February/March hing yous mentioned the other week that I cant find record of.
Sammi Sammi Sam Samuel Samuri Samaras, send a link up email is you get a chance please, with a bit of co-ordination this will work. I need to do Sydney and would be as well doing it when good folk are there, plus I get to meet our Sydney Tim.
EN
Kojo…had no idea you knew tommy.
He was like a 2nd father to me. A great man indeed and larger than life with a personality to match..
How did you know him?
JvoH v Porto
http://www.youtube.com/watch?v=BAp-Tg20Hxc
Whens the links coming back?
o.g.rafferty
22:43 on
18 October, 2012
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
—
Sorry disagree. Danny was always highly regarded and never taken for granted. Even when diagnosed with diabetise following his ankle injury he remained a hero. Just my opinion of course.
Hail! Hail!