There is a degree of relief (in some quarters) mixed with surprise that Hearts creditors have agreed to a CVA, allowing the club to exit administration. Although administration seems to be a natural state for many in Scottish football, remarkably few have subsequently gone to the wall in the last 100 years.
Third Lanark perished in 1967, an exception during many decades of solvent behaviour. Airdrieoneans (not to be confused with the current club by that name, which is the renamed and relocated Clydebank FC) were liquidated in 2002, with the chastising words of creditor Sir David Murray ringing in their ears. Oh how well irony played its hand.
Murray’s own club, Rangers (not to be confused with the current club by that name), were next to be liquidation after creditor, HMRC, stuck by their published rules and rejected a proposed CVA.
Apart from this, a remarkable series of campaigns, such as ‘Well worth saving’ and ‘Save the Jags’ has seen supporters step forward and find the money to save their club from that ominous fate.
There appears to couple of rules if you want to escape liquidation. Try to ensure 75% of your creditor value is owed to shareholder-creditors or the bank. Many clubs survive on directors’ loan accounts, which are ultimately forgiven in administration. Banks too have been reluctant to kill the local totem, with good commercial reason.
The major thing to avoid appears to be breaking tax law. HMRC are prevented by its own terms of business from forgiving tax debt which has been run up through illegal tax evasion. This was the case at (original) Rangers, who conceded some of their tax dealings were not legal during 2012’s Lower Tier Tribunal. The balance of cases are disputed and currently subject to an Upper Tier Tribunal.
Hearts success makes for an interesting SPFL Championship race this season. With three games to go Dundee hold a two point advantage over Hamilton. The winner will go up, second place will face a play-off, but neither club will fancy fighting Hearts for promotion next season. I can imagine the despair elsewhere to the news that Hearts will be a Championship club next season. Poor Ally will need to get his game together.
Remember, John Hughes will be on CQN tomorrow morning. Tune in with your questions for him.
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Barca look a shadow of the team of the last few seasons.
Drugs must be wearing off right enough…
;-)
I think wee ed is also a CQN’r
Re Phils tweet……….
Kris Boyd to Sevco?
I am hearing that someone has been on a naughty wee solo run.
The RIFC money men incandescent with rage over this…
============================================
Now had he said someone has been on a naughty wee waddle I think I may know who he was talking about……….
The decision by a Spanish court to destroy evidence that could link players with the taking of performance-enhancing drugs risks tainting the game’s battle against cheating
ANALYSIS
By Peter Staunton
If a claim from one of sport’s most notorious doping doctors that he worked with footballers is not sufficient to provoke a response from the game’s governing bodies then what is?
Eufemiano Fuentes, the doctor convicted this week in a Spanish court of endangering public health, has seen his medical legitimacy obliterated by continued and substantial links to the murky field of doping in sport.
He was given a one-year suspended jail sentence on Tuesday, as well as being struck off the register for four years, for providing blood transfusions to cyclists. Fuentes was one of the main players implicated in the high-profile stings Operacion Puerto and Operacion Galgo, during which quantities of illegal performance enhancing substances were discovered on his premises. He faced trial on public health grounds as doping in Spain was not illegal at the time.
Distressingly for Spain’s Anti-Doping Agency (AEA), as well as the World Anti-Doping Agency (Wada), judge Julia Patricia Santamaria ruled that all evidence pertaining to the case should now be destroyed. That body of evidence contains some 211 frozen blood bags found on Fuentes’ premises during the raids as well as relevant documents. The bags of red blood cells and plasma would unquestionably identify athletes who worked with Fuentes. AEA has 10 days to appeal the decision to destroy the bags, which it intends to do.
“We do not consider this the end of the process. We will now use all resources at our disposal to investigate further,” AEA chief Ana Munoz told BBC Radio 5 on Tuesday.
The destruction of those blood bags would mean a huge opportunity missed for the world’s anti-doping bodies and the Fuentes trial, a potentially crucial watershed moment, would become a washout.
OPERACION PUERTO EXPLAINED
Operacion Puerto was a Spanish police investigation into the practices of Dr Eufemiano Fuentes which began in 2006 after revelations of blood doping by cyclist Jesus Manzano. It led to suspensions against high-profile cyclists like Ivan Basso and Jan Ullrich. Operacion Galgo, which began in 2010, centred on Fuentes’ work in the field of athletics.
Judge Santamaria, early in the trial, ruled that Fuentes was not obliged to identify clients beyond the cyclists whose names are already in the public sphere. For a country keen to shed its image of being soft on doping offences, the verdict in the trial is a disaster, especially with Madrid’s designs on hosting the 2020 summer Olympic Games in mind. President of Spain’s Olympic Committee, Alejandro Blanco, sees things similarly.
Quite simply if Spanish authorities fail to take command of this emerging sporting crisis, doping, then there is the danger that recent achievements in tennis, basketball and football will forever be tainted.
Fuentes has admitted to the court that he worked with athletes across a number of different sports, including football, and that cyclists made up only a percentage of his patient body. He has had uncomfortably close links with football in recent times and questions remain regarding his proximity to it.
To what extent is football implicated in the Fuentes affair?
“They were sports people of all kinds,” Fuentes told the court in February. “It could be a cyclist from a cycling team, a footballer from a football team, a tennis player or a boxer. There were also athletes.” Until the full extent of this relationship with football players and teams is put under scrutiny then the sport could be seen as complicit by silence.
Angel Maria Villar, the president of the Spanish FA, and Vicente del Bosque are just two of a number of prominent Spanish sports personalities to deny that Spain, and in particular, football, has a problem with performance-enhancing drugs.
Nonetheless, Inaki Badiola, the former president of Real Sociedad, alleged in an interview with AS in February that the club acquired substances characterised as performance-enhancing between the years 2001 and 2008. Moreover, he claimed that the source of the medication was Fuentes himself, who, Badiola claimed, was paid for his services.
The club president between 2001 and 2005 was Jose Luis Astiazaran, who now runs La Liga. He has vehemently denied any involvement in doping practices.
“During my time as president of Real Sociedad, I never had knowledge or suspicion of illegal practices by the club’s medical services, who always worked to the maximum ethical and professional standards. If I had [knowledge or suspicion] I would have taken the proper forceful and diligent action.”
During the Fuentes trial, Real Madrid were forced to address a payment issue related to the doctor. The club successfully sued French publication Le Monde in a 2009 libel trial after it failed to substantiate claims that Fuentes had worked with them. The Blancos counted on Fuentes as their star witness in the trial and his expenses, he claimed, have still not been paid. He denies working with them as a medic. “I am not nor have I ever been a doctor for Real Madrid, neither directly nor indirectly. I have never given a Madrid player as much as an aspirin,” he said.
Is football the new cycling?
Jorge Jaksche, a German road cyclist who had his career ended due to his involvement in Operacion Puerto, believes that Fuentes treated players during the 2006 World Cup in Germany. After the raids, Jaksche co-operated with investigators who asked him whether he had been treated by Fuentes in Frankfurt in 2006.
He is convinced that, following a Europe-wide investigation into Fuentes’ practices, the trail led to footballers participating in the World Cup. “Normally he would only go to Germany if there was a stage of the Tour de France there but I think the truth is in 2006 there was the soccer World Cup in Germany and the German police knew something about it but didn’t have the whole information,” Jaksche said.
Fellow cyclist Jesus Manzano, who blew the lid off the Operacion Puerto affair, is on record as stating that he saw footballers come and go from the clinic in Madrid
Fellow cyclist Jesus Manzano, who blew the lid off the Operacion Puerto affair, is on record as stating that he saw footballers come and go from the clinic in Madrid. AEA has appointed captain Enrique Gomez as its special investigator to examine the evidence gathered in the Fuentes affair. He worked previously for the Guardia Civil and was involved with Operacion Puerto. He has also spoken on numerous occasions to Manzano, who has provided the captain with names of athletes he alleges worked with Fuentes.
The doctor, for his part, has also offered to collaborate with investigators. “If they felt I was useful and they asked me, I would consider it and would be willing. What I don’t know is if what I would give them would be worthwhile to them or not,” he said at trial.
One last, desperate attempt at a bargaining tool? Fuentes’ career is in tatters and he needs to salvage what he can. Football might be soon confronting the same issue.
CL qualification for Celtic in the next 2 years is worth £50m to the club with the new deal kicking in from 2015 season.
As we look to strengthen in the summer it must be with this in mind. Pedro needs to separate the strategic plan from the budget. The 3 year strategic plan has £80M at stake which would kill any Sevco revival stone dead. The budget given to the manager in the close season needs to reflect the strategic objectives.
Planning on a season by season basis is a recipe for failure. It was not the approach of GE, Apple, Tech Mahindra etc
A tactical budget based on if this or if that — will nit succeed.we have £80M at stake and a place at any euro club scene change at stake. Pedro should not plan the clubs success around his bonus.
With a beancounter CEO we may fail to make the investment required to develop the business in the proper manner.
THe next transfer window is the most crucial in Celtics history.
Cambridge Dictionary – Cambridge University Press
waddle verb – definition, audio pronunciation, synonyms and more for waddle verb: (usually of a person or animal with short legs and a fat body) to walk with …
Phil suggesting on twitter that there is new rancour down Ibrox way in the sense that the story of Kris Boyd joining is as a result of someone within the club acting O SOLO MIO without discussing it with the money men!!
Malorbhoy
Re the CQN Travel club I am busy working on this mostly by watching something called Bikini Destinations and soon I hope to move on to conducting interviews with suitable fellow travellers for a reconnoitre of said destinations.
I am also considering a pacemaker.
BRTH
Count me in :-)
Thank the lord the drugs were wearing off when they pumped us 6 to 1 late last year
BRTH……………………”.I am also considering a pacemaker.” ……..braw … :)
Waddle……
Scottish concise Dictionary definition……
Deedle Dawdle………BIGOT
Fixed that for you.
SOAL
And the CL this year.
HH
BRTH
Is that a pacemaker of the medical variety or 800 metres ‘hare’?!?
;-)
HH jamesgang
There can be no doubt that Tony Pulis is doing a good job at crystal palace.
Phil tweet about Boyd kinda answers the (In principle) bit added to the leak earlier.
ally must stay
Sunderland drawing with Man City.
City seem even worse than last season, quite stunning considering the money they have spent. Time for another manager I’d imagine.
Ally has s King size decision to make his pitch to Boyd allows him to make that. Story has already been written weeks ago.
HH
and his picth…
Deadclub song book contains such rousing anthems as…..
‘Theres not enough money to buy Willie Waddle’
And
‘The Taking of Wolverhampton Town’
It really is embarrassing for the Klan.
Auldheid,
As much as other clubs should combine to attain fairness in Scottish football, I have always felt that the various supporter representative groups should have been forming alliances with similar groups within other clubs.
Instead of pointing their guns towards our own club, it would have served the club and game better if they worked towards a fans’ coalition and brought a united Scottish football fans grouping to tackle the SFA, where all the problems lie.
Any internal problems, real or imagined, will still be there after the SFA is dealt with, but it would appear that the Celtic support wish to remain separate from other clubs.
Pity.
Sunderland lead in Manchester
Drugs?
I often wondered why the Williams sisters took a year out with injury just as the ATP decided to get tough on drugs. Funny how Nadal had a year of injury and is nowhere near the superhuman beast he was previously.
Good players, but not superhuman.
If Scotland votes for independence then the sports budget should be focused on drug masking.
That’s what sport where money is involved is about.
That is why we have Armstrong, Johnson, Christie, Certify & Encke.
Daft results night in EPL,
City losing 2-1
Everton 3-‘2
Why isn`t Peter Lawwell doing somethimg about they Spanish drugs? It has cost us millions in lost CL revenue.
something, even
the spirit of arthur lee
21:20 on 16 April, 2014
Apparently kirk broadfoot reckons the tic should be awarded the European Cup (again).
Think Nasri just scored for Citeh!
Keep the Faith!
Hail Hail!
Neymar and Stokesie
Neither can look along the line and stay onside. Think how much cheaper our ghuy was!
KindaBargainCSC
HH jamesgang
proud to be part of the celtic family 20:26
The surname on your reply might be a bit of an issue!
embramike. every now and then could ya post that again, just to remind me what’s what.
Big Nan
There are two different issues at play.
The LNS Commission and the decisions it reached on which we are in agreement.
The COMMISSIONING of the LNS Commission which you could not have looked at otherwise you would be agreeing with me. I am more than confident in saying that.
Check TSFM Blog An Honest Game: Convince Us to see the sheer extent of the misleading of the ToRs that allowed LNS to reach the decisions he did WITHOUT challenge.
The latter is important because when the SPL asked questions of the LNS Decision it was advised that legally it stood up, regardless of the near certain suspicion that he gave the result he was directed to arrive at.
To ensure that he was legally safe key evidence was witheld by Rangers administrators and not referred to by Campbell Ogilvie in his testimony.
The SPFL now sit on a quandary of Campbell Ogilvie and Duff and Phelps making.
Check it out.
Tom Molach
An article from 2012 … On an elementary point if law makes him not so
Oh well
Greggs Bakery somewhere in the West Of Scotland.
A. Hi hen can you give me 12 of they pies and 12 cream buns please.
S.A.Aye sure Ally, pit it oan yer tab.
A. Awright Kris, whit ye up tae.
KB. Jist getting a few supplies fur ma new intensive training regime Alistair.
A. How abbot you and me splitting the pies next season KB.
KB. Sounds good Big Chap.
A. Right that’s the transfer windae sorted then.
Awe_Naw_No_Annoni_Oan_Anaw_Noo
Phil tweeted earlier in the week that sleekits reps approached the money men for a “walking away” deal but they left empty handed.
He is even trying to get something before admin and he gets hee haw.
No matter what sleekit does it will be given a positive spin by the MSM
His reply to Steve sininson and his sons twiier troboules was nothing short of shocking but laughed off.
Stay well Sir :))
Good night all
City Sunderland 2-2 ft
malorbhoy
21:08 on 16 April, 2014
Unless someone steps in, all the revelations etc will be brushed under the carpet….. Political will just isn’t there…..our only hope for JUSTICE is sevco running out of money, and the spivs cashing in early….I have given up on TRUTH ….HH
Toffees come stuck at home against the Palace
The Boyd story ?
Shameless repost from earlier:-
the long wait is over
17:29 on
16 April, 2014
@AgentScotland: Kris Boyd has agreed in principal to join The Rangers, 2 year deal on £7k p/w which would double if club is promoted to the SPFL Premiership.
NB “in principal”
Having gone through any number of “good Rangers men” in the past to induce ST sales they announce this “in principal” as the ST renewals are due.
Hmm… as the saying goes.