My friends in Celtic, for the first time in four years we start a league campaign as champions. We carry a slender-but-hopeful lead into the second leg of our Champions League third qualifying round tie, and we are hotter favourites to win the league this season, than North Korea’s Supreme Leader’s favourite Pyongyang team would be, if he was to playing as striker.
Quite simply, the return on money placed on Celtic to win the league this season more accurately reflects a tax-free savings plan than a gamble. The bookies will hold your money until March or April then return it with some interest. Your rate of return will directly reflect the interest they can earn elsewhere.
This is the ninth eve-of-the-season we have reported on the state of the club. During this time we have gone toe-to-toe with a competitor who tried so hard to get the better of us, they ran up unsustainable debts, which could reach £134m, and which will never be paid or forgiven.
Celtic ran a better operation, were commercially sharper, had by far the best scouting system in the country, but paid their bills and ‘lost’ five leagues in this time.
Living with this was hard. In fact, it tore the Celtic support apart. The question was simple, “If they can, why can’t we?”
They couldn’t, and now the ideological debate is over. Mantras we have heard for decades have proven to be false. ‘Speculate to accumulate’ and ‘For every fiver Celtic spend….’ were suitable for an inflating market, where player values, TV contracts and match day revenues rose consistently, but this strategy was fatally flawed.
Whatever was accumulated in Scottish football it was never financial reserves, so when revenues dipped, or the vagaries of sporting fortune denied the wealthy their anticipated earnings, Armageddon happened – for one club!
Students of economic history will be able to tell you that even the most obvious economic lessons are eventually forgotten. New people arrive, achieve some early successes which reaffirm their ideological beliefs (in this instance ‘We deserve more money to be spent on footballers’), make no provisions for the inevitable change in circumstances, before disappearing into the obscurity from which they came, leaving others to live with the consequences.
Here is the true State of your Club. Celtic will continue its trajectory without changing what has been orthodoxy since the last century. Over any business period we will spend whatever money comes into the club. In normal times debt levels will trend downwards, providing space for the afflictions of fortune to be accommodated. We will most likely promote more players from our precocious youth system and buy fewer squad fillers than in the past.
The blink-junkies, who still believe in the values of Sir David Murray, will be reminded on these pages of their consequences *.
When this period of our history ends, we will reflect back on what, by then, will be the most successful period of any club, in any country. Ever. Those of you who lived through Lisbon are now enjoying the second Golden Generation of our club, but this time, nine years will not contain it. This Generation will stretch from 2000 as far as your mind’s eye can see, if only someone would coin a catchy phrase to encapsulate this successful period!
The Battle of the Ages is over, Celtic have prevailed, as did every Scottish football fan who wanted the madness to end. We won!
Thanks to everyone who bought a raffle ticket to help with our summer charity causes. Enjoy the season. I will.
*At the moment I’m reading End this Depression Now by Nobel Economics Laureate Paul Krugman, an excellent insight into how even the most eminent allow what they want to believe to obscure some of the lessons every economics under-grad is taught. It’s also a fine retort to the political classes who believe there’s nothing we can do for the economy but strangle it a little tighter.
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!!Bada Bing!!
The trouble took place on a stairwell, they had to line up to get at each other. I think everyone lost interest, because the two main combatants taking up all the room were just hugging and gouging at each others noses for so long.
PaddyBhoy
You mean she had all those spare ones and I only got given one!
Celbridge Celt
Expect it to be announced today, now that Dundee have been granted their SPL share.
PaddyBhoy, I imagine Berra is on low to mid Premiership wages… I thought the same…at first, but he needs to have a homesick missus/fella/kids for us to have a shout!
TenMen
He does a wee bit more than that. He’s player liaison showing new transfers round prospective houses and making sure they get settled in, dealing with the finances (cough) around that and no doubt teaching the new arrival about history, tradtions, where to go and where not to, orientation to an extent and when to bless yourself and when not to (I made that bit up).
Maybe we, and other clubs, have someone doing something similar.
Thanks Son of Dan, assuming the fact the SPL they’ve announced an (another) independent investigation on the dual contracts – that this is a done deal, with the SFA re-writing the rule book on accounts etc.
The fact this was an obvious ploy to evade £135 Million debt does not escape me or anyone else with a bit of sense, makes me almost want to spit out my cold cool Maccabee. I only hope it takes The Sevco longer than 4 years to make it back into the SPL… I also hope that this time next year Celtic hit Bigot Green over the head with our accounts… if they make it past a year!
thecat on 3 August, 2012 at 12:10 said:
“kdc
Theres 2 buses that leave from the masonic pub in Condorrat.
HH”
Cheers
Vmhan on 3 August, 2012 at 12:37
If I’m interpreting the information given in the following article correctly I fail to see how Sevco will be permitted to change their name to anything that includes reference to “Rangers”.
Rangers new owner Charles Green faces company name problems
By Martin Conaghan BBC Scotland
BBC Scotland has learned that Charles Green’s Sevco 5088 company is not currently permitted to inherit the name ‘The Rangers Football Club’.
Any attempt to adopt the name ‘The Rangers Football Club’ would require the approval of the liquidators, BDO.
Companies House has said that a name change application has not been made by Sevco 5088, and may not be possible.
The consortium claims the full company name has already been transferred over by the administrators Duff & Phelps.
‘The Rangers Football Club P.L.C.’, which has the registered company number SC004276, has not yet been dissolved, but will inevitably be liquidated due to unpaid debts.
BBC Scotland can confirm that the company’s liquidators, BDO, have not yet taken control of the company’s affairs, and may not do so for some time.
Continue reading the main story
“Sevco 5088 would not be able to apply to change its name to The Rangers Football Club Ltd. until either the original company is fully dissolved, a process which can take about a year to complete, or the receivers give the go-ahead for the name change to take place”
Green’s consortium confirmed to BBC Scotland that a purchase of the assets and intellectual property of The Rangers Football Club P.L.C. has been concluded with the administrators Duff & Phelps, which includes the company name.
A Rangers spokesman told BBC Scotland: “The administrators have already given their approval for the name change and the process will be completed shortly.
“The company name was part of the assets of the company which was sold to Charles Green’s consortium.”
The spokesman also said any regulatory problems related to changing Sevco 5088’s name to The Rangers Football Club Ltd are not currently an issue because liquidation of the old company has not yet commenced.
However, a Companies House spokesperson told BBC Scotland: “Sevco 5088 would not be able to apply to change its name to ‘The Rangers Football Club Ltd’ until either the original company is fully dissolved, a process which can take about a year to complete, or the receivers give the go-ahead for the name change to take place.
“From a regulations standpoint, once the receivers or the liquidators/administrators for the current PLC agree to a name change, Sevco 5088 could then apply to change its name to ‘The Rangers Football Club Ltd’.
“If they apply without following this procedure, systems are in place to flag up names which are too similar.”
Article 10.7 of the Scottish FA’s Articles of Association states that the name of a club cannot be changed without SFA board approval, while Article 74.2 states that a club’s name cannot be changed to anything linked with sponsorship.
The Scottish Premier League has no specific regulations regarding the naming of clubs or their parent companies.
“The administrators have already given their approval for the name change and the process will be completed shortly. The company name was part of the assets of the company which was sold to Charles Green’s consortium”
Green’s newco continues to trade under the name Sevco 5088, which has the company number 08011390, meaning it was registered in England. The sole director listed on the Companies House website is Charles Alexander Green, and while the company may trade under any name it chooses, its legal name cannot be the same or similar to another company in the register.
The ‘Sevco’ prefix is a generic company name, often used by organisations which register companies on someone else’s behalf. Sevco names can be registered in bulk through Companies House and renamed at a later date as long as strict naming criteria are met.
Companies House is a government agency run by the department of business and enterprise and deals with the registration and incorporation of UK businesses. All documentation relating to limited companies, including information such as company names, directors, accounts and share allocations, must be processed through the agency.
The proposed name for the new Rangers company is ‘The Rangers Football Club Ltd’. All UK companies limited by liability via shares or guarantee must end with ‘Limited’ or ‘Ltd.’ – only public companies traded on the stock exchange can end in PLC or P.L.C.
Shares in Rangers Football Club were suspended from the Plus Stock Exchange on 9 January.
Other companies currently registered at Companies House with similar names include: Rangers Limited, Rangers.co.uk Limited, The Rangers FC Group Limited, Rangers Football Club of Glasgow Ltd, Rangers GB Limited and Rangers (2012) Ltd.
http://www.bbc.co.uk/sport/0/football/18509619
Re. Berra, I can imagine that PL will be on the phone asking if he’s available on loan for the season.
Paul67
That is one of your best articles EVER …….. I hope the MSM, who are trying to blame everyone other than oldco / sevco for the mess they have generated across Scottish Football, read it…… and take note…….
I’ve never handed out posters up my mum’s loft but I have opened the door in my pyjamas (courtesy of Chic Murray).
My experience of London just now is mich the same as Garcia Lorca’s. Trains (into London Bridge) have been fine for the most part and you can take your pick from the large number of taxis with their yellow lights on and journeys are taking much less time than normal. Taxi drivers are all complaining about things being very slow.
London Today (Reporting Scotland for Capital, Foreign) had an excited reporter breathlessly telling us (in exclusive scoop fashion) that visitors to the Olympics were not visiting the West End…..”because they were spending their time at the Olympic park” Well, ye jist wouldnae credit it!
On an unrelated matter, but far more pleasing, it is good to see the statement from Aston Villa that Stan Petrov is in remission.
The Exiled Tim
Thank you for Tommys link :)))
——————
Private Lands New Blog that picks up the baton from RTC can be found here.
http://scottishfootballmonitor.wordpress.com/
One for your favs . THE FIGHT GOES ON.
HAIL HAIL
ASonOfDan – lol!
Berra – always thought he was decent, but we’re more needing right-sided I guess.
Was mightily impressed with Dundee UTD last night…..few players there we should be looking at.
Foxy_1888 on 3 August, 2012 at 13:20
SURLEY Somebody way any connection to DEAD CHEAT FC widnae still be conning and lying to the STUPID STUPID ORCS (it will never catch on ).
HAIL HAIL
Bloke109@13:17
‘Maybe we, and other clubs, have someone doing something similar’
We almost certainly do. The difference being though, that we can afford it
I don’t know if you saw my earlier post, but that’s 2 people inside SevCo earning a combined £110k a year for virtually hee haw
Neg anon @12.05
Probably against the grain on the blog, but I agree with what you say there.
While I am sure that a generation of domination domestically seems very achievable, I’m not so sure that it is as gratifying as it would be if we were beating the huns to do that, and wonder in the absence of the huns, will we/ should we measure ourselves against Euro teams instead.
We probably can be quite assured of winning the league and gaining a crack at the CL group stage riches for the next 5 seasons or so, and a pot of money worth up to 75 million quid awaits if we were to qualify five times.
Perhaps we should “speculate” some money up front to win some of that loot. I agree that speculation does not guarantee success and that non investment does not equal no success either, but we won’t look back with a lot of satisfaction if we didn’t strengthen our side and subsequently don’t win any of the 75 million on offer either.
Let’s say we spent 5 million quid (of money we currently don’t have) on a centre half and then failed to qualify in season one. Then we strengthened further by the same amount in season two and still didn’t qualify and then in season 3 we spent another 5 million. By this time we have strengthened to the tune (and debt) of 15 million quid.
If we qualified in either season 4 or season 5, we get our money back. If we managed it twice out of five opportunities we actually bring more money in. It’s a gamble and there are no guarantees, but so is crossing the road and when the odds are in our favour we generally make the gamble.
I don’t think anyone is or was expecting messi or droghba or Kompany to sign.
The world is a strange museum
& we are amongst it’s exhibits.
Everything that comes into the world
immediately becomes
another object of history
whilst losing the subject of its meaning
& we the visitors are part of the show.
Wonky – that’s a bit profound for a Friday afternoon, isn’t it?
Good to know that there are plenty of other CQNers concentrating on equally profound activities, like hitting wee white balls round Aberdour with sticks ;-)
Really looking forward to the game and the flag tomorrow but I will be honest. I will not be the least bit surprised if Aberdeen get something from the game. Everyone at the club, manager, players and fans are only thinking about HJK on Wednesday. Every interview seems to be revolving around that game.
I will enjoy the Flag, but there might be an uncomfortable 90 minutes afterwards.
Did you ever take a short cut across Cathkin Park on your way to Hampden to see the Celtic?
Was your excitement ever interrupted by a moment of regret?
Did you Wonder?
Confusion?
I walked across Cathkin Park a dozen times at least, Leeds, Morton, Dundee United, Hearts, Rangers, Racing Club Argentina, Manchester City, Spurs, etc…
Every time I walked across that ground I felt I was walking on a grave.
Every time I see the MSM refer to Sevco as ‘Rangers’ I think of Third Lanark and how they died with dignity.
Rangers are deader than Third Lanark, they really are. Third Lanark – forty thousand pounds?
We’ll always have the poor.
We’ll always have the masons.
We’ll always have those with soul.
I wish I’d never walked across Cathkin Park. I wish the MSM would lay a wreath and call it a day because Rangers is deader than Third Lanark.
HMRC will exhume the corpse if there is any dubiety.
TenMen
I didn’t, I haven’t read back. Your point is of course valid. In my lack of insolvency knowledge, and not wishing ill on people losing their jobs, I would have thought there would have been more redundancies, more cost-cutting and for sure no signing of players (therefore making his role superfluous). We’re on the same page, I just know someone who had dealings with him in the role I described. Wasn’t having a go.
Ten Men Won The League on 3 August, 2012 at 12:52 said:
Following on from my earlier post this morning about SevCo
Guess who is paid £50k a year just to pick any new players up from the airport and failing that, spends the rest of his time doing absolutely nothing of benefit to the club?
—–
Wee neddy Durant?
I’m Neil Lennon (tamrabam) on 3 August, 2012 at 13:35 said:
I would imagine the problem is trying to sell the SPL to players, young guy like Victor and Beram and Izzy yes but to the experienced players that some are looking for 27/28 etc it’s more difficult esp. when the EPL is paying silly money for journeymen players.
Celtic is a massive club but when it comes to bucks we play in a small league, I would love to see us bring in some quality players but as the product on offer in the Scottish game and the crap TV deals we get I believe it’s a hard sell.
Beyond all the board not board talk of the last weeks there is a reality of this for me.
The idea that we can just pull up the wedge and get any player we want seems a bit daft to me if I was a European player and was good enough to command a fee of 5/6 million I’m pretty sure I would be getting offers from the EPL or other good Euro Leagues.
Celtic have to try of course and bring in these players but I myself think that it’s getting harder and harder to sell our club will our league dies in football quality.
Hopefully the death of the Huns and the reformation of the SFA can see our league grow again and Celtic be able to attract big name players again..
Confirmed that ESPN will show 30 SPL games and 10 dead club games in the coming season.
The Scottish Football monitor blog
Private land is now (TSFM)
CAN BE FOUND ON TWITTER
———
TSFM says:
August 3, 2012 at 02:21
Twitter stuff sorted:
@TheSFMonitor
The match day and round groun facilities call out for imporovement.
Did I not read somewhere that the school was to house the museum, a sort of interactive tour, a restaurant and press facilities– so freeing up some space within the ground?
It would also mean that the Jabba’s and Shug’s of this world are faced with the “history” at every opportunity– which is a nice irony.
Sherarer’s bar outside St James ‘ Park Newcastle is HUGE and serves up food and drink by the shed load on match days and non match days– although the Ground is much nearer the city centre.
However, if you can’t be in the city centre, you can develop the area and the facilities to create a destinational venue– if not the city centre– then a centre in the city.
After the AGM last year– I stood talking to BJ Mac, Auldheid and some others in the rain. I suggested that we go inside the stadium for a coffee and a sandwich or something to continue our chat.
I was astonished to find that we could not do that– as there was no provision and no facilities for tea, coffee, lunch.. anything!
Is there really no demand for a coffee shop at Celtic park? There is one nearly every other damn place in the world so why not Kerrydale Street?
NegAnon at 12:05
Well written. I think the article is somewhat complacent and would be concerned if it reflected ‘strategic’ thinking at the PLC.
Celtic fans who call for ‘speculation’ are not calling for reckless financial abandon. Far from it. Targeted investment could secure Champions League football for a couple of seasons. That’s £30-40 million. No one is calling for a complete team overhaul. All that has been called for is a centre back and a striker. We have off-loaded 8 or so and many fear Vic or Ki will be next. Personally, I believe we could cope Ki-less but would be more than disappointed if there is not concurrent investment in the two areas of weakness.
What’s the update re Rhodes?
Jury still out on Cox. Would love Shane Long instead! What about Jonathan Walters or Andy Johnson? Worth an enquiry?!
I also think we missed an opportunity with the ex Fulham (now Reading) fella Pogrenybak. Looked a class act.
I think we should look at Goian and Bocanegra too. Just sayin….
http://twitter.com/TheSFMonitor
ENJOY
Generation of Domination changing?
How about….
THE BHOURNE SUPREMACY
THE AGE OF INNOCENTS
???
Bloke109
I know you weren’t having a go. No worries
I will post another couple of wee titbits i picked up last night, later on this afternoon
hamiltontim on 3 August, 2012 at 12:45 said:
Sorry,bit of work got in the way, probably g64 and my good good friend
Willie ‘O’ the bhold fenian mhan.
Dexter
:)
According to etims we asked Bocanegra the question and he said no.
HH
Dexter@13:51
We were offered Pogrebnyak in January. He was way out of our price range
Andy Johnson is now at QPR on £50k a week
TenMen
Ya tease :-)
ESPN announce a deal until 2017 to show SPL and SFL games.
leftclicktic on 3 August, 2012 at 13:29
leftclicktic,
I hope youre sitting down when you read the next sentence.
I reckon this name change bid is just a ploy to get the stupid stupid stupid huns to buy Sevco season tickets.
I dont see how can Company House can allow this name change to happen if their own rules are to be followed. Why havent the MSM not picked up on this?
It doesnt make any sense to me but whatever their reason it must be in the best interests of Scottish football if MSM dont want to talk about it.
If my form is anything to go by no doubt I’m missing something fairly obvious in the equation but surely Sevco cant just circumvent Company House rules?
It would be madness if Sevco were allowed to change their name to Rangers with all that outstanding debt owed.
Is there a precedent that would allow Sevco to get away with doing this?
Surely the creditors would go nuts if this went ahead?
So many questions.
I think I’ll maybe ask Hugh Keevins to explain matters, just to remove any element of doubt from my mind.
If they are showing games at ibrox then you can bet Celtic have agreed to some of our home games being shown.
12:15 kick offs for a few gmaes I bet…
ESPN has followed Sky by announcing it has agreed a deal to show live Scottish Premier League games this season – and Rangers games in Division Three.
Under the deal, 30 SPL games will be shown on ESPN over the season, as well as 10 involving Rangers.
Three of Rangers games will be from their own stadium at Ibrox.
More to follow.
How temporary was the ‘Temporary License’ that was gifted to sevco…? I was under the impression it was only for the Brechin game.