Pretty gutted for Inverness keeper Dean Brill, who will miss the Hampden Scottish Cup semi final with a dislocated knee. We saw enough from the Highlanders on Saturday to know they pose Serious Treble Risk, but you want to beat teams at full strength.
Anyone who tells you Celtic suffered a material loss due to Rangers liquidation is blowing out his bum. We lost some revenue but we’ve not been in such good shape, financially and on the field, in years.
I I could argue it was the best thing to happen to Celtic in the last 48 years but we’ll have the decades to come to ponder the full impact.
The Memorial Stone for CQNers no longer with us has now been fully funded with circa £500 left over for Mary’s Meals. A humbling effort, well done to all involved, especially TBJ.
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Cultsbhoy and GM,
There is no Rangers.
There is a shambles that it is Sevco, who,imo, will not be our rivals for a very long time.
So, our rivals are Aberdeen,ICT, Hearts, Dundee Utd etc.
Winning any treble is a magnificent achievement.
Don’t allow Sevconians to set the agenda.
EC67
Philbhoy
Exactly! After all it’s only 1/6 of what King said he was going to put in…..
Eurochamps,
I hear you neebs.
My point is/was that preliquidation it was often teams other than rangers who stopped any treble.
HH
GM I,ll give it a go anyway see what happens. H H Hebcelt
An Tearmann:
I’m not too sure which particular documentary you’re referring to, per chance is it the one where oldco big bosses put their foot in it?
————————————————————————————————-
Regards the Rangers, I suffered from them most of what we have all suffered. Possibly more than most but less than a few. They were bitter, but being a hun can often just be an accident of birth.
If it had not been for the five way agreement which our club WAS party to, then they would have gone down to the juniors and worked they way back respectfully. We as a club are not guiltless in their obscene return.
It was not their (Rangers) fault they were not cast out to the juniors, it is the fault of all, whether in Hampden offices, or far flung panelled offices, who did not stand against the corruption, that the huns will be back before their due.
If the big man gives me a tap on the shoulder tonight and I don’t hear the alarm go off in the morning, I’ll leave with regrets, but hating the hun, just for the sake of hating the huns, just won’t be part of my baggage on the journey.
It is the SFA, and those who live in fear, that have polluted our game toxic. All the huns ever did was chase our shadow, every which way, and corrupt cheating too, that they possibly could.
If our game had been policed, if the rules had been enforced, if the law had got off its arse and practiced law, if government in power was not so conflicted, if we had demanded a level playing field, by all, for all, then our moral and ethical glory would obliterate our own bigotries and the mire of the huns would be pristine. But it is not.
The biggest farce was/is the 5 way Deception, and every single supporter who bought into it, or who denies it’s bigot pound purpose, I hope you find your own peace, but for the love of God, don’t mention it, don’t question it, don’t look in the mirror. Just blindly hate the huns instead, hate them with all of your hearts, after all, they are obtuse, parochial, egotistical and deid.
Just like trust and truth in the game of football in Scotland.
All hail the bigot pound, it’ll be leaving your wallets soon.
Thomthetim,
From yesterday…
I heard the Belhaven advert yesterday and couldn’t hear the word pinny in it.
Is it the ‘to a moose’ parody you refer to neebs?
HH
Father Michael Duffy (NYC) scores for the Young Hoops…….
Kitalba
Absolutely spot on. We all got done over, and continue to be. It’s killed me all season not being at the football but I’ve had enough.
Reports of Stephen House’s Stasi up to their tricks again on Saturday doesn’t help matters either.
Still. We live in hope.
Dear CQN please could you set it so that links automatically open in a new window/tab. Then I won’t keep accidentally shutting you down.
Bit cryptic for those not on twitter.
Michael Duffy who signed from Derry City has scored for the development side.
Father Michael Duffy (NYC) is who many mistook the new Celtic signing to be on twitter. Many continue to follow the New York Priest on twitter despite the initial mistake.
MWD,
Cheers mate, excellent news. Now the difficult bit, this is as fancy as I get on social media. My office is at George Sq, can meet anywhere in city to suit. Let me know, thanks
Play mischief for me…
Consider:
In 2012, TRFC Ltd entered into a joint venture with Sports Direct, such JV named “Rangers Retail Ltd”, the purpose of which is to maximise revenue from the sale of Rangers branded merchandise.
SD had 49 Ordinary A shares, with TRFC having 51 Ordinary B shares.
While TRFC has a nominal majority of the shareholding, A shares carry twice the voting weight of B shares on all Financial matters.
Proceeds from the JV are distributed to shareholders via dividends from profit, such dividends being voted on. As a financial matter, SD’s A shares carry the vote on dividends.
[NB The Board can elect to distribute different levels of dividend to different classes of share]
TRFC borrowed £5M from SD recently, the loan being secured on the training ground and other properties owned by RIFC, and additionally, the Intellectual Properties of the ‘Rangers’ brand, including all trademarks, and the legal right to trade as “Rangers FC”.
SD has since been assigned formal ownership of the IPs and the thus the “Rangers FC” brand.
Further, under the terms of the loan, SD is permitted to nominate 2 Directors to the board of holding company RIFC plc for the duration of the loan.
Additionally, as a condition of the loan, TRFC transferred 26 of its B shares in Rangers Retail Ltd to SD.
On transfer, these B shares automatically became assigned as A shares.
RRL’s share structure as of now is:
TRFC 25 B shares
SD 75 A shares
Both the ownership of the IP and the 26 transferred shares revert back to TRFC once the loan has been settled.
There is no set timescale on repayment of the loan, but it is understood that the loan can be settled by TRFC or called in by SD at each party’s discretion.
With 75% of the ordinary voting rights of RRL, SD is now able to unilaterally approve Special Resolutions to change the Articles of RRL, for example, to issue more shares. In such a circumstance, all shareholders would have a right to participate, provided they have the means to subscribe for (cash to purchase) new shares.
In the meantime, in given circumstances – such as irreconcilable dispute – the Articles provide that SD has the right to buy out TRFC’s shares for a sum equivalent to 50% of the previous year’s profit.
Here’s where the mischief comes in…
SD can, with a Special Resolution, dilute TRFC’s shareholding by issuing new shares to a level that TRFC cannot afford to subscribe to. Say, the issue of 400 new Ordinary shares at a premium of £25,000 each share, thus injecting £10M of new capital into RRL.
In this circumstance, assuming TRFC does not have the cash to participate, the revised RRL shareholding becomes:
TRFC 25 A shares
SD 475 B shares
At a stroke, TRFC’s holding in the company is diluted to 5%. Even were TRFC to pay back the loan, they would only gain an additional 26 shares – being the original 26 shares transferred under the loan agreement – giving them a smidgeon over 10% of the revised shareholding, with SD owning 90%.
However, remember that as a condition of the loan, SD as a right to nominate 2 Directors to the board of RIFC plc.
Lets say, for the sake of er.. mischief… that SD formally nominated Derek Llambias and Barry Leach, such nomination being executed prior to the EGM.
As we know, the EGM voted to remove Llambias and Leach from the board of RIFC, thus POTENTIALY creating a default on the terms of the SD loan.
With the loan in default, SD now holds the whip hand, and can direct matters as they determine.
Mischievously, SD might elect to:
1) Pursue a share issue at RRL as described above
Thus causing an irreconcilable difference between the parties and…
Institute the measures permitted under the Articles in the event of such a dispute and effect the buy out of TRFC’s shareholding.
And/or
2) Insist on the appointment of Llambias and Leach
Thus causing an irreconcilable difference between the parties and..
Institute the measures permitted under the Articles in the event of such a dispute and effect the buy out of TRFC’s shareholding.
And/or
3) Vote to distribute dividends from RRL only to holders of A shares, thus excluding TRFC from a share of profits from its own retail division.
Thus causing an irreconcilable difference between the parties and..
Institute the measures permitted under the Articles in the event of such a dispute and effect the buy out of TRFC’s shareholding.
You get the idea. SD can legitimately create the circumstances where the parties are demonstrably in dispute and take RRL off TRFC’s hands for the small sum of last year’s profit.
Thereafter…
In attempting to recover some of the sums due under the loan, might SD elect to sell the brand properties…
Remember, I like mischief.
…supposing SD elects to sell the brand rights for the same sum as they were last bought for on the open market, when, of course, Sevco Scotland Ltd (now TRFC)bought them from the Administrators of Rangers plc, and paid the princely sum of… One single pound sterling.
[NB That’s the true sum paid to D&P]
How could TRFC possible complain that the rights were sold for less than market value when they themselves paid the same sum for the very same rights less than 3 years ago?
Not just small mischief…
…SD elects to sell the brand rights to… none other than Rangers Retail Ltd, the now subsidiary company of SD.
Erra Gers intellectual properties, All furra pound.
Thus might TRFC lose its retail merchandising division, assorted trademarks, and the very right to trade as “Rangers FC”, to its very own merchandising division, now owned by SD.
In the meantime, SD has the small matter of the remaining outstanding £4.99M balance of the loan, such loan being further secured on the training ground, car park and a building on the Ibrox apron.
Quite the dilemma. What to do?
As Paul Murray noted last night in a statement written by Edward J Smith, and issued by RIFC:
“..the position is not as alarming as it may first appear.”
Mischievous guy that Paul Murray. Great sense of humour. And great hair too. What’s left of it…
The Battered Bunnet
I enjoyed that post immensely:))
HH
TBJ
Great stuff have missed loads in the last week, raffle ticket purchased, think it’s the first time I have paid anything online, only took me a hour, Jobo/CRC I can now pay LMS through my phone as long as I can sneak my card out of the boss’s purse
Hail ! Hail !
TBB – that answers my question as to why David Low was suggesting they’d defaulted on the loan.
TBB
An excellent post. Well done.
JJ
An Tearmann
Is this what you where looking for from kit
http://youtu.be/4i1fwh4Atj4
http://youtu.be/TsYv4r5kvyk
http://youtu.be/-ArDUeQI1CQ
HH
TBB chapeau doffed sir that is why we are more than a blog and you are more than a blogger. Hail Hail Hebcelt
The Battered Bunnet
Mischief is good
HH
PROUDBHOY
Re Gadaffi,I have to thank The Exiled Tim for pointing me to this.
There is a huge aquifer under Libyan territory,and Gadaffi had begun running pipelines to channel it for irrigation in desert areas,in his country and beyond.
The pipelines were amongst the first targets for US aircraft.
Additionally he had also come up with a plan for an Arab rival for the dollar and euro as reserve currencies,called the gold dinar. Arab countries would only deal in these,no other currencies,thus allowing them more control over their income.
Clearly that would not do,no sirree.
TIME did a big article on it,canny find that,but this might help a bit.
http://havacuppahemlock1.blogspot.co.uk/2013/02/libyas-gold-dinar-oil-for-gold-killed.html
Raffle ticket purchased, well done TBJ etc
HH
quite funny.
rifc statment on their ficial website says “we are in charge of our historic symbols”
with a picture of the rusting RFC logo on the gates,
probably about £20k to fix them alone
kitAlba i found it and i hope you dont mind me posting it again.Thanks
kitalba
09:11 on
12 April, 2015
R-mhani :
Here’s the links to WC’s wee documentary…
The Big Clubs Documentary – Part 1
The Big Clubs Documentary – Part 2
The Big Clubs Documentary – Part 3
Quality.
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no time for hating mate,correction of cheating and an overhaul of the governance structure,root and branch,that allowedSir David Cheat to farm the infinite wants of the pockled ‘we avoid tax payments’ attitude’
I am interested in your points re Celtic ‘knowing’ of the 5WA.
Is your point here that Celtic had the yae or nae as to whether the noo club was accepted into our League? and by the cheat being accepted into the league Celtic are somehow a participating and tainted with what went on at cheat park since 1988 leading to their liquidation and rebirth as cheats international?
Just intrigued mate.As far as i know the wee guy from hibs done all the negotiating for the SPL at the time.
The 5WA to me is a fraud. It highlights the clash of 19th century club(SFA) rules against modern day company law,it will be exposed in time.as will all of this sham.
hope alls good with you.:-)
HH
My expectation post Rangers remains treble every 3 years. If it doesn’t materialise I’m not expecting resignations but Id be hoping that Any a Celtic manager sets theatre leas an objective every year and achieves that goal 1 in 3 years. I like RD’s stated objective to that effect. We must depend 7 times our nearest rival, in fact we are the team who can actually buy players and we can cherry pick any player from any team so I’m sticking with it.
We should measure future potential on the basis of history. We are ( imo) in a new 1 horse realm for the foreseeable future…
TBB,
That post fair brightened up a dreich afternoon. If only Ashley acts along those lines! I’m sure he is more than well aware that he can. I imagine the only possible fly on the ointment is that ra berrs will stop buying stuff from SD, if none of the income comes back to their deid team. So Ashley might well proceed with due caution….or, have I missed something?
£6 mil for James Forrest? Be lucky to get 600k .He is 23,not a youngster in football terms anymore.Hasn’t started 4 games in a row for Celtic,some guys will do that in a fortnight.It’s a real shame guys get injured,or recurring injuries in JFs case,but we need to move him on (and a few others), and get better value for the wages paid.
The Battered Bunnet
had to read it twice….
it is a thing of beauty……. great post
!BADA BING!
I think James Forrest is a terrific talent.
I also think that he is too prone to injury to be an effective member of our squad.
I really hope he can overcome that,because he is rapidly becoming a Shaun Maloney type. And a smashing player is nae use on the treatment table.
bobby murdoch’s curled-up winklepickers
16:13 on 13 April, 2015
—
Thanks for reply
Most of that was mentioned on the youtube docu i watched.
Just finished couple of books so due to start a new one.. hopefully someone can point me in right direction to read up on gadaffi.
Im emailing TET tomorrow so i will ask him.
THEBATTEREDBUNNET
Smashing,bud. Do you want Mike Ashley’s mail addy just in case your wee plan hasn’t occurred to the Machiavellian businessman?
TBB
Thanks for that post, extremely informative. HH
Paul Murray appears to be a real chancer with an incredible ability to just avoid the spotlight. I for one was delighted to see him back, central stage in Sevconia, twisting tales for his courageous friends in the SMSM.
‘the position is not as alarming…’ translates to anyone with half a brain as, ‘Panic, we’re all doomed.’ However the ole sevconians refuse to accept the truth and hell mend them with their chosen chancers in charge now.
PROUDBHOY
The lesson being don’t mess wi the U.S.
Particularly where money is involved.
Spend 7 times our nearest rival (damn autocorrect!!)
Roy croppie
Spot on. The Huns have their own chosen chancers in charge now.
A blind man can see these guys are not the required remedy.
More BS and a financial plan and the resources required both conspicuous by their absence.
If they were smart they’d just come out and say they are waiting to see which league they end up in before developing their next move. It would buy time. Reality is they probably don’t wanf SPFL next year to delay any investment
Latest from our Phil …. re MASH v Gash
Choose your weapons and your words carefully
I have read and re-read this statement from Rangers International Football Club (RIFC) and the best that I can come up with is that the New Regime somehow spiritually owns the crests and trademarks.
Of course this communique from the New Regime should be chased up by sports journalists in Scotland (I Know I know).
The issue of the £5m that RIFC owe to Sports Direct is THE main issue and, there is no indication when this loan will be repaid.
I understand that Big Mike has had his people conduct an in-depth forensic investigation of the net worth of all the major players in the New Regime.
Sources tell me that Ashley understands that, for example, Mr George Letham has around another £600,000 readily available liquidity.
Mr Douglas Park, in Ashley’s estimation, has another £2.5m to contribute.
The picture with Mr David Cunningham King’s finances appear to be less clear.
So far the South African based entrepreneur has provided some fine words, but since buying shares in RIFC last December he has not stumped up any more cash.
Sources in the City tell me that the week after their triumph at the beginning of last moth chaps from the New Regime pounded the streets of the Square Mile looking for pounds.
At several conclaves, they were asked for a detailed business plan.
They had fine words that had a Charles Green ring to them about millions of fans worldwide, etc.
Once more the intrepid stenographers could be asking to see that detailed business plan.
As of this morning, I am hearing that RIFC are experiencing some issues apropos being accepted onto the ISDX.
However I, am sure that it will all be sorted out as soon as these financial types factor in the dignity factor.
Just like the fact that Sports Direct currently legally owns the crests and trademark s of associated with ‘Rangers’ another nice soothing statement will make it all go away.
However, I think that events that will unfold in the coming weeks that will show the utter hubristic folly of upsetting Mr Ashley.
For the avoidance of doubt, Big Mike is VERY upset about this Rangers business.
Taking a knife to a gunfight is always a bad idea, but the chaps in the Blue Room are about to find out that they have taken a toothpick to an artillery duel.
Mike
Obviously that was money the club didn’t get.
That is indisputable.
However, it did not put us in the financial grubber.
We revised our plan to suit, I.e., sold players and adopted a policy of recruiting promising youngsters and developing them for resale, not unlike most progressive teams outwith the super money leagues.
Therefor, we don’t need them to survive.
Other Scottish clubs made their own adjustments and are now in a better place than they were three years ago..
The Hun has perhaps benefitted those wee clubs whom they entertained on the Journey.
Although, perhaps some won’t see it that way!
Paul,
I see your 48 years and raise you anno 1912.
The frosty air swirling around Paradise hasn’t felt this clean in over 100 years.
Young Liam seems to be settling well
in Norway..
http://www.talkingbaws.com/2015/04/13/has-celtic-youngster-liam-henderson-bagged-himself-a-stunning-norwegian-model-just-weeks-into-rosenborg-move/?