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.
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Sannabhoy
Did you get tae the pictures n if yi did, whit wis oan?
Petec
Different Wolff (Wolfe)
The SNP fella was William(from West Lothian)
Paddy T
Going fur 4 n 10 mins…….Better than McGrory
Get in ya beauty
Kikinthenakas – leave some booze for us!
Hopefully see you there. Enjoy.
Petec:
Irrespective of any distinctions in the concept of class between capitalist countries the fact remains that capitalism produces huge disparities of wealth and opportunity. What more do you need to know?
Maleysbhoy
Cyber toast to your uncle and many thanks for the contribution your family has made to our great club, god bless him
I see that Nick Griffin tried to rally a mob of vigilantes to “protest” outside the property of the gay couple who won their case against the B & B owners for illegal discrimination.
Police are apparently investigating Griffin. Can’t figure out why this story makes me think of Ally McCoist…
Mornin CQNrs from a dark wet autumnal morning in Glesga.
God Bless yer uncle Maley bhoy and all your family.
HH
Celtic last time in Barcelona in the narrow 1-0 win for the home team.
Boruc,
Wilson, Caldwell, McManus, Naylor,
Nakamura, Scott Brown, Hartley, Donati, McGeady,
JvoH
Not too different in quality from what we have this week, obviously we will miss the Caldwell/McManus axis of defensive quality but the new Ambrose/Wilson partnership should be close to that standard and Id say we have better full backs. Also an army of defensive midfielders to choose from, I expect nothing short of a point this week….
They were up against this mob…
Valdes, Zambrotta, Thuram, Puyol, Sylvinho, Toure Yaya (Edmilson 67), Xavi (Gudjohnsen 82), Deco, Messi (Henry 36), Eto’o, Ronaldinho
Subs Not Used: Pinto, Iniesta, Abidal, Bojan.
Goal: Xavi 2
Info via the brilliant CelticWiki
http://www.thecelticwiki.com/page/2008-03-04%3A+Barcelona+1-0+Celtic%2C+Champions+League
Estadio
Even though it was only a 1-0 defeat, it seemed that if Barca had needed 5 goals to go through, they would have got them before half time.
Still, we were not the only team to have been totally outclassed there.
Dear Sir/Madam
Do you provide advice and support to people on a low income? Would your clients benefit from a community care grant, or interest free crisis loan or budgeting loan from the Social Fund?
We would like to invite you to a Social Fund Stakeholder meeting we are hosting between 10:00am and 3.45pm on Glasgow Rangers Football Club, Ibrox Stadium, 150 Edmiston Drive, Glasgow, G51 2XD. There is no charge for this event.
The Social Fund can help people on low incomes by awarding non-repayable community care grants and interest free loans.
made me laugh…
Moonbeams WD. Kano 1000 \o/ Supporting Neil Lennon 100%. Champions. C’mon Wee Oscar 22:25:
Hope the Cobra was tasty and cheers
Torontony 23:09:
Vino…not like you…:) As it is 08:05 a caramel Cappachino (spl) taised tp your Dad and those who have gone before us.
Celtic_Cross 23:12:
Cheers and yes, teenage Sons, wish I had my Dad#s experience to hand.
Keep the Faith!
Hail Hail!
Miki67 01-40
Govan Fatwah..I like it
Conjures images of Ally in Greggs though.
Seriously speaking, the quote from 1850 does sum up the hun mentality. That are pre-programmed and hard-wired to believe that their ‘superior status’ alone will be enough to see them win in the end, no
maleys bhoy 23:46 :
God Bless Tom Maley, may he rest in peace.
Keep the Faith!
Hail Hail!
Frantic07 5:21:
Cheers mate.
Keep the Faith!
Hail Hail!
Is there a story about Whytes security over Ibrox in the press this morning? GMS mentioned t in paper review but nothing online…
There are a lot of time served Supporters on here, the vast, vast majority of Supporters on here value honesty, even when it hurts.
I’ve refered to the hun as DOBs before, I’ve called them other names too, but in my almost fifty years of following Celtic, I have never refered to the huns as Daleks.
Has anybody (prior to the huns accusing Alex Thompson of being nasty for using the word) – ever – used that term to describe them, or has anybody ever heard another Celtic Supporter use the term – Daleks – in any derogatory fashion with regards the huns?
I’ll take silence as a ‘no’.
….no matter the extent of their crimes.
The outside world (including their devoted msm) can clearly see that its the rock they are perishing on. Arrogance has killed them and someone better qualified than me will write a piece which relates the fall of the hun to that of the equally decadent and hedonistic Roman Empire.
kitalba
I’ve never heard any Celtic fan refer to the Huns as Daleks?????
HH
The reason I ask…
By Leggo
I told you ghuys not to register for their shares, since it gives them good PR, and dupes their hoardes into deciding to buy them …..whit ur ye like ?……..lots of LOL
Dalek’s a new one with me. The huns have jumped onto it as they do now with any morsel, out of sheer desperation.
Last week an orc workmate brought up the hungate subject and the first name he mentioned was Peter Lawwell. The second was John Reid.
I asked why no mention of …Murray Whyte Ogilvie Green Walter Hmrc Ebt Sfa Spl …I went on and on but he’d ran away by now.
Desperate people who now and again come out of the bunker with feeble attempts to drag us into their
Damn phone
….abyss.
Somebody on here previously made the astute observation that Daleks are like Hun fascists whereas yer Cyberman is more of a commie.
I could see that this could be useful at job interviews. Rather than hint at the tired old “what school did you go to then?” – interviewer could simply ask “Are you a Dalek or a Cyberman?”
Equal opportunity legislation in tatters in one fell swoop…
Famous Huns … Big Fat Dalek Johnston
Tim Malone Will Tell
07:55 on
19 October, 2012
I see that Nick Griffin tried to rally a mob of vigilantes to “protest” outside the property of the gay couple who won their case against the B & B owners for illegal discrimination.
Police are apparently investigating Griffin. Can’t figure out why this story makes me think of Ally McCoist…
……………
Has anybody ever seen TFPLG and Griffin in the same room at the same time?
Daleks?
In my 40 years i have never heard that at any ground home or away, on any website or in any song.
What a sad desperate attempt at a slur.
In the 41 intervening years I have never heard the Dalek term used nor have I ever heard anything disrespectful about the disaster from Celtic fans.
Greenjedi
Only in a boarding house in Brighton -allegedly!!!
By MARTIN HANNAN
NEIL Lennon has expressed sympathy for embattled Scotland manager Craig Levein, pointing out that Scotland “never got the breaks” in their 2-1 defeat to Wales last week, and said some of the criticism levelled at the national manager is unjustified.
The Celtic manager, who supplied four of Levein’s squad for the back-to-back World Cup qualifying defeats against Wales and Belgium, defended the standard of his players Lennon reported that the quartet who featured in the ill-fated round of fixtures – Scott Brown, James Forrest, Kris Commons and the unused Charlie Mulgrew – have returned downcast following the defeats in Cardiff and Brussels.
“As you can imagine, they are bitterly disappointed,” said Lennon. “My own opinion, looking at the game against Wales, I thought Scotland in the first half played as good as they have played for a while. They were in control, they had good shape, a good tempo to the game and they never looked in any danger.
“The loss of Scott was a momentum shift, but let’s get it right, it’s (Steven Fletcher’s disallowed header) a goal, you go 2-0 up and that changes the landscape of the group and certainly the game and you go to Belgium in a far better frame of mind.”
Lennon is not one for Scottish-style introspection on the problems of the national game, especially as he has four Scottish squad members proving their worth in the Champions League.
“We do this all the time,” said Lennon. “When things don’t go well, we look at what’s wrong with the game, what’s wrong with the set-up, what’s wrong with the academies and what’s wrong with the future.
“For me, Scotland has got good players, and the four I’ve got have played a huge part in this season and in previous seasons, and I probably couldn’t do without them.
“Forrest? You wouldn’t get a better young player in Britain. Brown for me is playing at the top of his game now, even though he is hampered by this chronic hip problem. Mulgrew has been a revelation and Commons has probably been our best player this season. They are quality players.”
Lennon backs Levein in one sense: “I thought his team for the Wales game was spot on, and things were going well, it was just a lack of concentration cost them the game but, that happens in international football. I didn’t think they got the breaks, and that goal (Gareth Bale’s penalty) was a scandalous decision. It was a big moment and big moments change games.”
Nevertheless, Lennon accepts that Levein must face the fact that football is “results driven,” though he still scorns some of those who pillory the manager.
“There are too many people on the outside looking in who all have an opinion and do sweet FA about it,” said Lennon.
“We have too many chiefs and not enough Indians. Is the expectation too high? It’s not beyond Scotland to qualify for another major tournament. The Republic of Ireland did it for a few years, and it may come in cycles –Belgium are having a wonderful time at the moment but they haven’t qualified for a tournament except for the one they hosted. Perhaps you just have to be patient.”
Lennon maintains that Scotland does have the facilities to coach youngsters, but wondered aloud if the old boys club system might need to be brought back. As for the immediate problems, he was quite blunt. He said: “Maybe some of the players need to have a look at themselves in terms of their performances over the four games, never mind the two.”
So do players get too much too young? “Sometimes when players come into the squad, and we’ve seen this on numerous occasions now, and not just exclusively to Scotland, some players get left out for tactical reasons or whatever and they spit the dummy out.
“Sometimes that malaise can seep through the squad.
“When you go and play for your country you have to go with an open mind, you have to sacrifice a few things, your own ego, your status.”
Lennon’s own international career with Northern Ireland was cut short by death threats after he signed for Celtic. His passion and those of players – “they’re very patriotic” – for international football is still there, however.
“Probably I didn’t reach the heights for my country that I achieved for my club but it wasn’t for the want of trying,” said Lennon.
“I looked at Sweden’s comeback against Germany the other night and it meant everything to them, and I only have to look in my own dressing room and see how much playing for Greece meant for Samaras.
“Same with Wanyama for Kenya, Emilio Izaguirre for Honduras – or maybe it was just the fact they got a break from Scotland!” he quipped.
Following international duty, Celtic have First XI injury problems ahead of tomorrow’s match against St Mirren in Paisley.
“Scott, James, and Kris will be touch and go for the weekend, but we’re hoping they will be okay for Tuesday,” said Lennon. “Apart from that there’s no definite injuries but we’re still waiting on Samaras, Wanyama and the two South American boys, Miku and Emilio, but whether they would feature at the weekend with the lack of preparation would be doubtful.”
Famous Orc song ‘ guard old Dalek walls’
Sir Dalek Ferguson…
paddy t . no , I never. discovered the game was on line on auntie and ended up watching it. should have gone after all
Kitalba
I think the Hun is getting mixed up with Dalecks and Relics.
Rangers are most defo relics from the past.
These Billy Bhoys are certainly getting more para by the day.
MWD
Thommo must be bricking himself with that arch Tory and royalist Littlejohn on his case……… Aye right!
Why do the huns never vent their anger over the Ibrox disaster at the people who were to blame for it?
Their club’s board of directors.
The Daily Mail ….well that’s the job done then
Does anyone read that pathetic excuse for a newspaper …that is apart from over 50 middle class house wife’s who care not about football
As for Littlejohn ….if that’s the best they can do …I don’t imagine he gives a fig for a fourth teir Scottish football club who have been in operation for a matter of months
Leggo….the thinking Huns journo ….enough said really
Kitalba – I can put my hand on my heart and say with all honesty I have never heard the Dalek term until one of them starting saying it a few months ago