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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John
The 9-0 airdrie game
Franks penalty
Even as a wee bhoy I could see that frank put it in the top left hand corner
So that the keeper could make a Hollywood save
A good thing,and a great gesture to the embarrassed keeper
HH
awe-naw
It’s going to be some time before anyone beats Willie Maley record.
Bobbyrussell
Of course, I remember you!
Yogi
Are there any ex Celts that you’re regularly in touch with and meet up with?
Hi John
Thanks for sharing so much. I remember the New Year’s game with them when you ran riot. I was in town celebrating with some friends from England and suddenly realized we would be late for the start. Got a taxi out to the game and arrived as Wilson (I think) had scored for them.Did not feel too great after that. Then you put on the shoes and led them a merry dance. It was a performance I have never forgotten.
Question: did you decide to change footwear of your own volition or did Mr Stein suggest it to you? What ever the case, it was some performance; one of my all time great Celtic memories and I was at Lisbon, Milan and Seville.
Ger57
Fine, apart from the obvious. Don’t recall ever being cheered by Rangers fans!
jamesgang
Aye, you’re a funny man.
John,where is the strangest place that someone has recognised you?
kinglubo
Only you have said I’ve got a head like a threepenny bit!
Jungle Jim – thanks I must have been feeding the bear at the time!
He’s delighted btw.
Going to head down to Byres Road – maybe Tennents – around 3pm and he is asking does anyone want a pint?
BRTH will be first at the bar!
Johno’neill
We played Kiev Dinamo a couple of time in the sixties. Strangely, even back then, they people in Kiev thought of themselves as Ukrainians.
50shadesofgreen
Good man!
Kilbowie Kelt:
Not a problem, but I do remember as a boy (in the sixties) my dad taking me along to the game at Parkhead to see these guys playing for Celtic; maybe it is just a figment of my imagination but I thought one of the two did play without boots.
Regards John Hughes’ two goals in the one game ( I don’t think it was his debut for Crystal Palace) the one he scored which came second (happy to be corrected) in the goal of the season was spectacular in its execution, however, the second, which wasn’t so spectacular, would have made George Best and Diego Maradona both, and in harmony too, weep with envy.
Livibhoy
Just a personal opinion, but I think we might have seen the best of Samaras.
bognorbhoy oscar in my thoughts
08:42 on 17 April, 2014
Thanks for posting this. I read the update on Wee Oscar via facebook in the early hours when we got in and again this morning. Heartbreaking
HH
CRC
Winning Captains
Have you fed that big fella anything yet?
There is an old loaf in the cupboard high up on the left hand side beyond the cooker hood. I found it there one afternoon when I was looking for your wallet.
Shergar is in the cupboard below!
By the way you have mail?
Tennants at 3pm — sounds like a plan to me but I have a meeting at 5pm.
Yogi
Not sure if this has been asked, but how did the nickname come about?
HH
CRC
zimmerman
There were a few referees who appeared to make life difficult for Celtic. But things changed when Big Jock arrived. There were still a couple who would leave you baffled at some of their decision-making. That’s not sour grapes, by the way. It’s just the way I see it.
An tearmann
I’ve already answered the manager question. It just wasn’t for me. It was interesting, though, I’ll admit that.
John
I listened to the Elland Rd. game on the radio. In the second half the English commentator kept talking about the tall powerful figure of Johnstone charging forward.Surely he meant you
BTW the BBC televised highlights the next night were a travesty – Celtic were totally edited out
kilbowie kelt
You’re absolutely spot on. By the way, Celtic had four Brazilians on trial in the sixties – other two were called Jorge Farah and Fernando Consul.
sandman
I wouldn’t waste my money!
Gourockemeraldbhoy
You may have some more surprises in store at the CQN night in Greenock re special guests. You can’t get enough Lions…
John Hughes
12:49 on
17 April, 2014
kilbowie kelt
You’re absolutely spot on. By the way, Celtic had four Brazilians on trial in the sixties – other two were called Jorge Farah and Fernando Consul.
================================
Do you think they will ever make the grade big man ;)
HH
Teuchter ar la
I’m getting very emotional with all these good wishes. Much appreciated.
Yogi,
Have you realised yet, that most posters are older than your good self and have memories like elephants:)
Although I was a bit young to appreciate your great games in the hoops, my granda joe raved about you no end. Hail Hail to you Yogi.
Gourock Emerald Bhoy
See you at the bar!
Eurochamp67
Sorry to disappoint you, but it wasn’t me who was involved with the Dunfermline player. That was Bertie Auld.
BBC online
Former captain Barry Ferguson says it is his “ultimate dream” to return to Rangers as manager.
The 35-year is currently caretaker player-boss at Blackpool.
“I did everything I wanted to in terms of playing for Rangers, captaining Rangers and picking up trophies, getting tax free loans, fouling with impunity, undermining a manager, giving the viccy to Scotland fans” he told BBC Scotland.
“Of course, I need to learn my trade first, but I’d be lying if said it wasn’t my ultimate dream to go back tomorrow as manager.”
macjay1
True! It was at Stirling Albion’s old ground at Annfield and it was a bloke I had got tickets for. He never got another ticket!
weet weet weet
Yes, Big Frank might have done that. He hit it high to McKenzie’s right and the keeper punched it clear. Big Frank applauded all the way back up the pitch.
Hamiltontim
I still keep in touch with John Divers, Davie Hay and Tommy Gemmell. All good mates.
John Hughes
12:55 on
17 April, 2014
Magic,big John.
iki
12:54 on 17 April, 2014
BBC online
Former captain Barry Ferguson says it is his “ultimate dream” to return to Rangers as manager.
The 35-year is currently caretaker player-boss at Blackpool.
“I did everything I wanted to in terms of playing for Rangers, captaining Rangers and picking up trophies, getting tax free loans, fouling with impunity, undermining a manager, giving the viccy to Scotland fans” he told BBC Scotland.
“Of course, I need to learn my trade first, but I’d be lying if said it wasn’t my ultimate dream to go back tomorrow as manager.”
============================
You missed out his closing line: ‘Once I’ve relegated Blackpool, that is.’
winning captains
12:50 on
17 April, 2014
Gourockemeraldbhoy
You may have some more surprises in store at the CQN night in Greenock re special guests. You can’t get enough Lions…
Is that on top of oor Willie as well ?
Sounds like its gonna be a good night, thank feek I got a shift swap.
HH
Yogi said the Green Brigade are fine if they stay away from politics
Well that can’t be expected to happen if the club and authorities indulge in politics
Either politics stays out of football all together or it doesn’t, no-one can pick and choose who can and can’t indulge in politics from inside the game – and those who do actively bring politics into football have no right to tell others in the game not to
{*throws a grenade in then slinks off whistling favourite tune*)
YOGI.
I have fond memories of growing up in Troon in the 60s and the frequent visits of CFC coming down to train before à big game. Used to stay at the Marine Hotel.
I was usually there as a spotty youth pestering the players for an autograph. Got yours a few times.
My late dad used to say to me – “Did you get big Yogi’s?”
You were a particular favourite of his.
Great to have you on the blog today.
Thanks for some unforgetable memories and best wishes for the future.
HH!!
Guys,
I think there is something you should all know about this morning and the answers you have been given by John.
I note many comments on here about his comments and answers being honest and forthright etc.
Well.
Would you believe that no one wanted to back big John when he eventually said that he wanted to write a book and call it ” Yogi — Bare!” telling it like it is?
Not a single publisher in the UK thought that would be of interest and so he is funding this book himself!
It is his work, his story, straight from the Yogi’s mouth so to speak — with bumps, warts, tears, smiles and all.
It is as honest an account as you will ever get!
As WC has said if you want a personalised copy with a unique message e-mail Winning Captains now david@cqnmagazine.com as this is your chance.
Honestly, you won’t be disappointed.
I think it is great that someone like John has chosen to tell his story at long last.