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.
[calameo code=000390171b8e5a2cffbcc lang=en page=114 hidelinks=1 width=100% height=500]
989 Comments- Pages:
- «
- 1
- ...
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- »
TBB
Couldn’t care less about Rangers. It’s understandable, though, that Celtic as a football club will remain silent on the matter. Newco or Oldco? It doesn’t matter to me. As far as I’m concerned they are not Rangers any more.
An Dun @ 11.31
Look at this from the Linfield:
“This will include other songs sung to the same tune, any use of the tune itself, and will also include those versions using words that may not be seen to be inherently sectarian in their nature.”
They might have a horrible support but at least the club is capable of giving very clear instruction. A few in Scotland could learn from them on that score.
JJ
Hamiltontim
Got the mail and replied hurriedly complete with several typos and bad grammar as i am trying to do too many things at once whilst peddling a unicycle blindfolded!
Don’t ask it is a long story!
John Hughes…
You are a living legend!
Thanks!
Feed The Bear.
John Divers and John Hughes
And 60 Thousand Celtic Fans
Who proudly sing the news
John
The 9-0 Airdrie game being a Saturday…….my fond memory was of it being quite dark & the floodlights being on….
Paddy T
murdochauldandhay
If anyone was to blame for the defeat against Feyenoord it must be Jock Stein. But I cover this topic in the book, too.
BRTH
Don’t fret. I’ll correct it and send it back to you later for redrafting! :-)
leftclicktic we are all neil lennon
11:41 on 17 April, 2014
VP…you behave my friend…:)
Take care bud, catch you soon!
Remember, shoulder to shoulder we stand.
Keep the Faith!
Hail Hail!
John Hughes
11:44 on 17 April, 2014
TBB
Couldn’t care less about Rangers. It’s understandable, though, that Celtic as a football club will remain silent on the matter. Newco or Oldco? It doesn’t matter to me. As far as I’m concerned they are not Rangers any more.
_____________
Leftclicktic now goes happily skipping about his chores :)))
Livibhoy
You have yet more mail.
Thanks John. I hear fans of clubs around the country have a wee song along those lines.
Lenny Bhoy
I was injured, but I deal with this topic in the book, too.
Thank you for all you gave to our club Yogi, always my favorite player because nobody knew what was coming next hence my CQN name.
Please sign a book for me and I will make contact regarding payment.
Reading back,caught bognorbhoys post…
“I don’t want to be a boy anymore”, “I don’t want to be me”.
……………………
Heartbreaking,God bless the wee ghuy and his family.
Roy Coppie
Green Brigade are fine just so long as they keep away from politics.
Thanks again.
Left Click
Thanks!
Hail Hail John
Can Celtic win the big one again?
I agree Celtic are playing it properly with regard to the Rangers/Sevco scenario.
The fans who say they are an irrelevance are the same ones who want Celtic to come out and make a statement about them. We may as well come out and make a statement that the grass is green and the world is not flat. Everyone knows!
You will also know as well as I do that Celtic have had to put up with a lot on and off the pitch in Scotland, we were brought up to ask questions and our ‘paranoia’ was not for nothing.
The Rangers/Sevco scenario adds to the list. The difference is…this time, the whole of Scottish Football can see them for what they are. A sham.
The drama queens who wish to punish Celtic should be ashamed.
Playing right into the hands of the wrong people.
Support your club, things are unfolding nicely.
HH
Awe_naw
I can’t comment on that. Neil Lennon sees the players every day and I don’t.
Gordon Strachan believes the life expectancy of a Celtic manager in the dug-out is only four years? Quick answer – rubbish!
John,
did you ever have a football agent? And do you think they are a good or a bad influence on the game?
Paddy T
I was at that game and my memory is of it being sunny and we all shouted for Frank Haffey to take the penalty as we were already winning 9-0. Their `keeper saved it and Frank applauded him before running all the way back to his own goal !
I don`t recall Frank wearing Longjohns that day 0:-)
Cheerio for now.
JJ
Hrvatski jim
Just look at the records! And, by the way, I’m 71!
john hughes
11:48 on 17 April, 2014
Cheers John for the inscription request I sent to WC can you please put Lennybhoy and not Lenny Bhoy.
Thanks again big Mhan.
Keep the Faith!
Hail Hail!
Hail hail John, a living legend.
In your day, could you trust the Glasgow football journalists, that is, they were not going to put the knife into your back?
Did you have to clear it with Big Jock before you gave them any titbits?
Hamilton Tim
Doc’s hair looks great, long and flowing round the shoulders.
John Hughes,
You have been excellent on here this morning. Honesty is all important and you have shown that with every answer. Well done and all the very best with the book and with your life,
JJ
PS Celtic could do a lot worse than employ you in a PR role.
Jungle Jim
Thanks for the comments. Just remember – the truth hurts and the lies will kill you!
Ger 57
Once again, thank you.
Look at the time! lunchtime.
Time to:
Feed the bear,
the bear,
the bear is always there,
feed the bear.
Bobby Russell
No. Are you?
John Hughes
If given an opportunity what would you change in our setup at Celtic to make us more successfull
Mr Hughes
I remember your early games in LC v Third Lanark.
You scored with a header at CP and seemed to steamroll over the Third ‘ s CB at Cathkin then score from edge of box.
I was not at Ibrox when you gave Dougie Baillie the run around but after that my dad and I were big Yogi fans.
You always got the better of Ian Ure of Dundee, played in sannies on a frozen surface, ploughed a furrow from one penalty box to the other at a muddy Cappielow to score.
Lots of great memories in everyday games apart from the big ones like v Leeds.
Thanks for the entertaining memories. On or off form you were always entertaining.
Yogi
I remember the 9-0 game v Airdrie in 63, but the Aberdeen baseball boot game in the snow (jan 65), you scored 5 that day in an 8-0 win? As a 9 year old I was mesmerised.
189 Goals in 10 years is some record big fella.
HH.
Just ordered the book – thanks for the memories Yogi.
Malo Bhoy
You are forgiven.
Please email David@cqnmagazine.com and he’ll have it personally signed with your message.
Hail hail, John, I met you in Vegas my brother Tam introduced me to you, and may I say it was a pleasure meeting you, you are one of the all time Celtic greats, and I wish you the best of health and happy times for the future, a true legend.
Kitalba
Thanks for the kind thoughts. I’m tearing up just reading it.
Ianbhoy929
Jack asked me for my shirt. I was happy to swop.
John,
Thanks
I agree and hope Neil breaks Willie Maleys record.
We need to stop selling the better players however. Yeah I know a tough one.
HH