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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A ceiler gonof rust.
Huns in work have more or less sent me to coventry as when liquidation set in and my ringtone being the last post it didn’t go down well.hh
estorilbhoy
Are you in Estoril mate?
Looking at ways to stay in The Palacio for the Benfica game, wouldnt mind a wee night there for historic reasons if you know of anybody?
EN
Danny was a great, great right back – my Dad loved him – I remember watching him as a wee boy – and he was taken for granted, inasmuch as it was a given he’d play well..
Superb – well deserved promotion!
KOJO
That Mansion House Road,
Wasn’t the Country Club was it?
For anyone reading this was no country club.
More like the one in “From Death Dill Dawn” the film. Spent many years in that watering hole.
Cultsbhoy?
This is a hacker, can you please log out, I know the real CultsBhoy and theres no way he would post positive stuff like this.
I dont know Cults That well but I know his account has been hacked.
If anybody is in touch with Cults please pass this on and get him back here.
AAAAAAAverdEEEEEEN, Halo, ye there? Wheres Cults? AAAAAABERDEEN, whits goin on?
EN
sorry, from dusk till dawn.
My dear,dear,dear,friend.. Maley’s Bhoy
Pal..
Ah met Tom.. when Ah visited his Grand Dad.. when he wiz ailing.
Ah wiz wi’ Ma Uncle Lou.. who wiz an AULD Pal. o’ Willie Maley.
Ah also met Tom. a few ither times.. Socially…
Ah dinnae want tae gie ye too much info. as ..
Ah guard Ma Identity, jealously…and Ah value Ma.. Privacy.
But, Ah kin asssure ye..
Ah consider Tom to be a Friend o’ mine..
Kojo
yer pal..who likes ye. already..
Looking at the age of the Celtic first team and the age of the Celtic coaching staff. I think this is a very astute move and more so because Danny Mc will be a link between the current up and comers, much like Neil has been previously, and them making Good progress into the first team proper.
maleys bhoy, I’m afraid I’m suckin on a cheap Chardonnay as it’s all I’ve got. I’m sure your uncle would approve:).
I raise my glass to your uncle, his siblings and their grandfather. You come form quality stock.
Good health to you and yours.
Hail Hail
Gotcha….Kojo..
Didn’t You Used Tae Be ‘Harry Worth’..?
My dear,dear,dear,friend.. DJB
Hiya,pally?
Nice tae Meetya.
Na.. Mansion House Road.. if it is still there..
WIZ NAE COUNTRY CLUB.. that’s fur sure!
Did You ever stey there, yir sel?
Interesting.. if ye did..
Then.. Congrats tae You in makin’ a recovery..
Nice Chatting,pally..
Kojo..
yer pal. .who likes ye..already.
Still, Laughin’
O, MY GOD.
There’s TWO o’ them.
:¬((((
Anyone want to buy a 24 foot Bayliner four berth cruiser moored at Loch Lomond? I’ll chuck in a two man loose unit inflatable, towing gear, life jackets and a………………………………………barca ticket.
C’mon, make me an offer…………………….
My dear,dear,dear,friend .. The Singing Detective..’
Hiya,pally?
Nice tae see ye are still Aroon.
Harry Worth?
Did he no used tae be.. Arthur Askey?
Luvved Harry..
Ma favourite English Comedian. wiz…Benny..the Boy wonder.
Noo. Benny, wiz a “Funny Guy.”.
and..
thur ur jist no that miny .. “Funny Guys'”…
Anybuddy, kin be a Comedian.. but.. a “Funny Guy”, must be born wan.
Ah am No a “Funny Guy”… faur froam it!
Although, Neethur is Seinfeld.. when Ah come tae think aboot it!
Anywey..
Ah gotta go..
See you fellahs..
Kojo.
yer pal.. who thinks the world o’ ye..
Still Laughin’
Kilbowie Kelt
00:27 on 19 October, 2012
O, MY GOD.
There’s TWO o’ them.
:¬((((
____________________________________________
I am apparently Fortunes Favour Mibbes now to some people on this site.
First of all, I am not worthy to be FFM as he is one of CQN’s finest who goes out there and does things to expose the largesse of the whole system. The corruption is monumental and it pervades every aspect of society.
You keep saying TSD is Kojo and I’d like you to get that proof because it is a horrible feeling to be accused. It is not hard to get the proof.
Good Night ….Kojo…
Still Laughin’….At Harry Worth…..
The ‘Thinking Man’s’ Norman Wisdom..?
http://www.turnipnet.com/whirligig/tv/adults/other/harry_worth1.jpg
Been out with the devil dugs, the bitch caught a couple of hares, quality dog so she is, the rest just looked on in envy….
Anyways, quick scan back, sipsini, thanks, only telling it like I see it.
KK
Thanks for your last post, will go to bed with a huge smile, so simple but so true, I dof my cap te ye :>)))
Take care and god bless Timland
HH
KTF
Made my morning so it has…….
Is it just me? or has everyone gotten fed up of scrolling past endless cut an paste articles that someone decides WE NEED TO KNOW? Why not just post the link?
I go back to ‘Arty’s’ post earlier today. A long, one paragraph that bored me in 3 to 4 lines.
Should the blog be limited to 140 characters in twitter? Sometimes i wish it was!
Is the penny finally begining to drop with the hun deidheids? From RM.
…………………………………………………………………………………………………………
“I think it’s fairly obvious that Whyte was banking on Champions League – or at the very least a decent Europa League run. When none of those materialised there quite simply was no Plan B.
Quite why now Whyte has chosen to come forward is anybody’s guess.
Unfortunately just when we thought we were entering a period of stability, comes yet more unrest.
It really makes you wonder who our true enemies actually are!”
……………………………………………………………………………………………….
Yes, you are your own worst enemies. Give yourself a coconut.
Kojo, TSD? are you the same person?
B T W (using spaces and Capitals) Do You Think You’re Clever?
estorilbhoy, 00:07
I don’t disagree with you, I know he was (and still is) held in high regard. What I mean is that is that when you are at the top of your game for so long the only time you get noticed is when you do something wrong, so it is taken for read that you will maintain that level of consistency no matter what.
He never dazzled in the way some can and yet often they flatter to deceive and end up well rewarded financially and in the hearts of the fans.
It’s a funny and fickle old game
Just_a_Bhoys_game
I really get your point but I don’t like posting links to hun media. There’s some sensitive souls on here who don’t want to sully themsleves in that pit of doom. (ye really need to have a strong gut to go to their den of debouchery).
CUL8R
ACGR
A Ceiler Gonof Rust… my friend, where was the reference to hun media? If you mean ‘Arty’s’ post, it was on page 3 of this topic.
Why are folk concerned about the legitimacy of hun owners?
Why are folk concerned that the media are not reporting in a fair manor on the hun fans getting fleeced?
Why are folk concerned about the future of a daft wee division three club Celtic have never played?
Surprised at the prevelance of old firm fans that still kick about.
The Singing Detective Demands The Resignation Of Campbell Ogilvie
!!!!!!! Are You Blind?
Estadio Nacional
Barca – Celtic
That is ALL that matters.
Bury the ProPaganda papers for good.
petec, look at the table, a Benfica/ Spartak draw, is what we want. Apart from the obvious away win in Camp Nou, we can dream though, ffs it not the Alamo! lol ;-)
Petec 01:19
Barcelona are our biggest rivals, I wish them all the worst until we have beat them in these two games.
They are there for the taking, so they ur…
EN
Last I looked the bookies odds were 28/1 Celtic win, 1/14 Barcelona.
Got to be the biggest odds in history for a Celtic game.
Im no betting on it, dont want to jinx things, Im bad that way.
Estadio Nacional
01:26 on 19 October, 2012
Petec 01:19
Barcelona are our biggest rivals,
luvvin that, Tell it like it is.
Personally, i think we’ll get a draw. IF an its a big IF, Lenny’s got their heads together, this International break has disrupted our rhythm.
Just_a_Bhoys_game
01:25 on 19 October, 2012
Fearful? Never. It is always a privilege to watch Celtic.
Barca are exceptional, if we are going to be top dawgs again we have to beat the best. That is my mindset going into the next 2 games. Neil feels he can win the CL with Celtic, I totally BELIEVE he will.
Miracles do happen and they leave many lessons behind to the winners and the losers.
Estadio Nacional
01:28 on 19 October, 2012
Last I looked the bookies odds were 28/1 Celtic win, 1/14 Barcelona.
Got to be the biggest odds in history for a Celtic game.
Im no betting on it, dont want to jinx things, Im bad that way.
_____________________________________________________________
Well it is time for you to reverse it m8.
Shove a tenner on it and if we get horsed make sure you shove 20 on for the game at Celtic Park.
http://www.youtube.com/watch?v=5up8kJoCsJM
Neil’s team has overcome so much that no team in Europe has ever had to overcome.
No pressure on our Celtic Bhoys.
This is why I’m concerned. The institutionalised cheating and corruption. The violence. What they have done to the game. It’s not about a football team per se. It’s about a cultural ethos that has been allowed to flourish in a wee corner of Europe. Like someone said : the mainstream media is afraid to speak out against them for fear of a Govan Fatwah being issued.
For the stinkin’ huns and their corrupt overseers. They really gie me the boak.
“When plunder becomes a way of life for a group of men, they create for themselves in the course of time, a legal system that authorises it, and a moral code that glorifies it.”
Political economist Frederic Bastiat, The Law (1850)
Just_a_Bhoys_game 01:30 on 19 October, 2012
They are though, the media tell us theres no competition in the SPL…
With out spending and scoutimg system we have to aim higher…
Aye so Barcelona?
Brimng them on, they are our true rivals.
EN
rhythms the only word with no vowels ,time for bed ;-)
Just_a_Bhoys_game
01:01 on 19 October, 2012
A Ceiler Gonof Rust… my friend, where was the reference to hun media?
………………………………………………………………………………………………………..
I was addressing your point about over long posts and trying to add a bit of humor. I made the refenerence to hun media in my obviously feeble attempt to cheer you up.
Hail Hail Bruv, want to buy a boat?