Stomach knots, dig deep Dave


Do you remember the knot in your stomach when we were five points behind in the league race, when every game was a ‘must win’ event? Five points is a substantial gap, eight is huge. I seriously doubt Derek McInnes reckons Aberdeen have a remote chance of winning the league, but should the gap increase to eight points tomorrow, he could be excused if he gets carried away for a moment.

Celtic will win the league but only because they will improve and win important games, like tomorrow’s against Hearts. The knot’s back in my stomach; we need the win. Although Hearts are not the league challengers this season, the scenario mirrors their visit to Celtic Park a decade ago, when they were the last non-Glasgow club to open the league season with a flurry of wins.

Resist, resist, we must resist

300 years and the tune never changes. Newco chairman, Dave King, proclaimed, “This application will be strongly resisted”, as he confirmed Charles Green has been to court to enforce the contract which, apparently, obliges Newco to pay his legal fees for actions in connection with the club, a liability which was recorded in Newco’s 2012 IPO prospectus.

King seemed to confirm Green had a good case by telling journalists Green’s legal difficulties concern his time “his time as an officer of the Club”, closing speculation on one possible angle of defence.

There’s nothing unusual in this clause in Green’s contract. Company directors can be held criminally liable for acts of corporate wrong-doing. They can be fined or jailed for actions carried out by their staff, even without a direct instruction. If you are a company director, it is your responsibility to ensure Health and Safety regulations are enforced and appropriate, and that actions by the company are not criminal.

In the event a criminal charge is levelled against a director (or former director) of a company for acts carried out by, or on behalf of, the company, directors will seek the assistance of the company in preparing and funding their defence.

This is how business is conducted and the responsibility of the non-executive directors to ensure that the actions of directors are consistent with the interests of shareholders and other stakeholders (in this instance fans).

If Green holds a contract, Kings will know his protests are empty bluster. I see estimates of legal fees in the region of £500k. There will be no change from £500k on this one, not even close. That figure might cover the photocopying costs. Dig deep, Dave.

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  1. Good Afternoon.



    Good piece, Paul. It will be interesting to see how full Dave King’s war chest really is…



    Meanwhile, the Record has managed to produce one of the more outrageous articles in the whole Rangers and Sevco sagas.



    Apparently Rangers were forced into liquidation following a “Phantom Tax Bill”! And were “later cleared of ever having owed the taxman”!



    Yes. they really said that. Here’s my latest piece, which covers a number of Sevco issues.






    Enjoy the rest of the day!





    In further bad news for Mr King,BDO recently disallowed his claim for £20m against the assets.



    The face painter is owed £40 more by the huns than is TGSL.




  3. West End of East End on

    Celtic Mac – Did BDO not kick out King’s claim ? I’m sure I read that somewhere. On the John James blog, he really does go to town on him and breaks him down from the early 2000’s onwards in some detail on the deals he’s done, mostly fraudulent. He reckons King is on the bones of his arse and will be looking for an escape route…





    I read the comment about the phantom tax bill earlier. I would be surprised if HMRC allow that comment to go unchallenged.



    It was a real tax bill,parts have been upheld,and the rest is just awaiting adjudication in a juridisdiction where the law applies. Not the handshake.




    I am in in Krakow and there are a number of bars that show Celtic matches but I imagine from Wroclaw its too far. I am going up to the Silesia region near Katowice for my youngest’s football tournament tomorrow .



    In my first year here, I have seen about a dozen or so Celtic tops (not the Lechia Gdansk copycats) – mostly kids wearing them. Might be worth Celtic arranging a friendly here one day




    Ha! I have been called many things, but never a tease! thank you! (I think!)



    And you dont need to trust me that this lovely lady does exist (and is not just a figment of my imagination) …. there are people on here who have met her (other than me). :)



    Unfortunately,over the summer KT was a bit unwell, and then her mum fell and broke her hip, so KT was away for a while taking care of her … and, while the trip home would be fun, it would probably be a bit too much travelling for KT right now … I think she just needs to relax and make sure she feels 100%. So, Ireland will have to wait until spring .. but, with Clogher’s party, it might work out for the best. And Hearts play that same week, so she can still see the Hearts game I promised her! We are already looking forward to it!



    So, instead, I am taking KT down to Aruba on Sunday for a week …. I will try to squeeze in a few dives, and KT can relax in the sunshine. So, even though I am missing the game this weekend, and the big 10/10 party, I’m not expecting too, too much sympathy! :)



    But, we will definitely see you soon!








    Apparently my sister and some pals are heading your way about February.



    I would either evacuate the city,or set up some defences.



    She’ll be the good-looking one…





    Now,I never doubted KT’s existence,just voicing my disapproval that none of us can say hello to her in a Leslie Phillips way. Lots of lllllllllls,btw!



    My concern is your concern,mate. Make sure that she is fine,and that her Mum is on the way back.



    Once everything is fine and dandy-soon,I hope,-well…..




  9. Hi EXPAT_TIM,


    I’ve noticed a load of Celtic scarves and gloves etc. but not to many strips. Katovice is just a little to far for me tomorrow. Maybees another time.



    On the subject of the GASL, has he invested any money at all?

  10. Let’s be honest, if we don’t win the title with the financial advantage we enjoy, then it will be the biggest disgrace in our history.



    Ronny’s utterances still sound like a nervous man and has a touch of ‘he doth protest too much’



    He insists we are better than last year, but have we really made any progress from when NL left?



    I think who have a ‘hotch-potch’ and mismatched squad – a batch of players put together without any regard to synergy.



    Of course in this crazy football world, beggars can’t be choosers, and in some sense we have to balance the expectations of the support, sometimes overblown, against what we can afford in our financially restricted environment.



    Aberdeen should not be underestimated – we beat them by seventeen points last season, with four victories against them, i.e. a twenty -four point swing – they have started to redress the balance.

  11. Bobby Murdoch’s/West End



    The most recent creditors report from BDO, November 13 2015, showed an unsecured claim of around £20 million being added to the list of creditors, bringing the total up to £168 million. HMRC is listed as £94.4 million. The claim you may be referring to is that of Law Financial Ltd., which is seeking secured creditor status for £18m. The firm is linked to Craig Whyte, (Sevco 5088 were a subsidiary, not Dave King). BDO have dismissed the claim, but they are liquidators, they do not have a final say on the claim. No doubt the courts await.

  12. Hunderbirds are Gone on




    Thanks for that. I will hopefully be able to visit the grave one day. Fantastic story.




  13. davidLowDavid Low spoke to SFM today about the latest focus on Rangers Oldco, but thinks that Dave King’s words about Oldco being the real Rangers matters less to King than the increasingly improving health of the Oldco, now in liquidation.



    In the last week it has emerged that HMRC may have lost their appeal against the improper use of EBTs, and that coupled with Dave King’s £20m claim being thrown out, has reduced liabilities so dramatically that Oldco could be solvent – especially if the asset sale from Oldco to Sevco Scotland is overturned as a consequence of current criminal proceedings involving all parties to that sale.



    Low says that Rangers cannot possibly raise public investment for Newco whilst that uncertainty surrounding the assets is resolved.


    “Nobody will put money into a business whose main assets are under dispute, and if they tried to raise funds in a prospectus, they would have to declare that nature of the dispute”


    But the single most important aspect of the new developments?



    “Everything depends on the criminal case outcome” says Low, who also observed that King is not alone in his repositioning with respect to Oldco.



    The Worthington Group, of which Craig Whyte is a former director, have recently sprung to life and filed three years of returns. They have also made a claim to Rangers’ liquidators, BDO, that they hold a floating charge over the assets (currently around £20m net in cash) held in the current creditors’ pot.



    “They also just appointed a new corporate director, Liberty Corporate – a name associated with Whyte”.



    Low thinks that criminal proceedings and litigation could drag on for a number of years until the uncertainty over asset ownership is resolved. He thinks that this will critically impair Newco’s ability to raise funds for that period of time, but that improvements on the field will take the pressure of King in the meantime.



    “At the end of the day, fans are only interested in what happens on the field.” says Low; “Rangers have a good manager, they are playing well and winning consistently. The fans will be happy with that”



    Is it possible that TRFC have not repaid Mike Ashley because potentially there may not be any assets in Ashley’s ownership? In any case, even for Rangers to limp on with soft loans (which he says are the only funding options available), they need to try to put an end to the factional disputes which continue to plague the company.


    “Peace needs to break out. There is no consensus, nobody is in control, so there is no way forward at boardroom level”


    “The directors find themselves in the situation where they either continue to drip feed the club out of their own pockets, or face the alternative which is far more unpleasant.”



    Curiously, Low gives the SFA a pass on their handling of the situation, and feels they were in an impossible position. That is not something that fits in with our consensus on SFM, and in fact the next blog, which will be published later this week, focuses on one of the SFA’s many dysfunctional episodes – their inability to scrupulously apply the rules and carry out their obligation to UEFA.



    The podcast will be on iTunes, on our rss feed , and on the web here

  14. So Mike in Toronto can go all the way to Aruba in Bournemouth with his daughter (who may or may not exist) but can’t come up to Glasgow? Hmmmmmm!!! :)



    Enjoy your trip with your daughter Mike. I’m sure the relaxation will do you both good.



    Welcome to the blog that guy from that place in poland I can’t pronounce.



    Just a wee word of warning.



    Get out of here while the goings good and before the crazy horse holyier than thou self inflated ego’s land back in.



    MWD said AYE and it’s looking like the Catalan’s will say AYE to getting a chance to say AYE while their No campaign predictably strikes with FEAR, pensions, EU, currency etc.. etc… etc… A plan formulated in Canada and ripped of by the boring together fascists Loyalist Royalist unionist. Sadly supported by the Loony Republican (Ireland Only) Loyalist Royalist Unionist Tims on here. Bendy banana’s the lot.

  15. Lennons Passion 2.20



    thanks for posting that,the directions to it and which station is nearest are now on the tweet,a must for all Celts visiting Prague i would suggest.



    Someone a while back posted a great read of a post about Madden,Dr.Jo venglos and Lubo and his arrival at our club,maybe others can recall it and hopefully repost it.


    Thanks again.History intact and ongoing since 1888.



    hail hail

  16. The Clumpany



    Brilliant! I guess that the listing of HMRC as a creditor to the tune of £94.4 million is just another phantom tax bill. The Daily Record at its’ finest.

  17. Hunderbirds are Gone on




    He bought a pie and bovril…………… Oh no wait, he signed for that. Still his credit is good, isn’t it? ;-)

  18. GreeninbingleyinOslo on




    I haven’t been on the blog much of late, and while I gathered there was a health problem with your daughter I didn’t know what it was till I read your post this afternoon.



    As a dad to a young daughter myself I can truly sympathise with what you all must have been going through – every dad’s worst nightmare – and am delighted at the positive news for Olivia.



    HH to you all!






    What an appalling story. Thoughts and prayers with you. Keep on keeping on. HH

  19. Afternoon Timland from a hot hun free mountain valley.


    Well if the truth be known it’s really no that hot, but it’s mega hot for britland.


    Good to hear of more troubles over at the bigot dome, any news that disrupts them is good news imo.




    I doubt the Catalans are as wimpish as the average jock, they believe and will go for it and feck the consequenses.



  20. An Tearmann.


    If you are still around.


    L.D. sadly picked up another injury in training. Different from last one but he won’t be back training for 10 days or so.


    Just for the record it wasn’t Johannsen that done it.


    Hope you are well and enjoying life.

  21. MWD



    You got me googling Bournemouth in Aruba! Looks nice, but hopefully the other aruba will be a touch warmer.



    I will tell KT (my partner) that you think she looks young enough to be my daughter! She will be buying you all your drinks when we do catch up!

  22. I have a spare ticket for tomorrows game if someone wants it.first dibs at the corner tomorrow and a wee donation to CRC for wee shay will suffice.Its in 106,pretty near halfway line.hopefully someone will take it.:-)



    Thanks again Oldtim,hope your geegees came in :-)



    My Team tomorrow






    Lustig/maybe Janko























    work to do Celts lets go and do it

  23. Greeninbingleyinoslo.


    You’ve not missed much.


    The board haters v You’re not allowed to say anything negative about Celtic in case the press pick up on it brigade.


    Seriously, you get to the stage you rethink everything you post, it’s almost like some saddos just wait there waiting to pounce on the least wee thing that people post that they don’t like or don’t think is appropriate.


    Thankfully a few notable exceptions make it worthwhile,for now, hanging on in here.

  24. JNP



    saddened to hear that my friend,i was thinking against Raith would be a good opportunity for him,just like his colleague Nesbitt took advantage of and done well when he came on.At least its only 10 days/fortnight til he is knockin at the door again.I would dearly love to see him in the hoops(as would a few over my way :-)


    Thanks for keepin me in picture JNP,catch you hopefully on 10/10



    hail hail

  25. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    Swiss prosecutors have opened criminal proceedings against Fifa president Sepp Blatter on a day of stunning developments at football’s world governing body.


    The Swiss attorney general’s office issued a statement saying Blatter is suspected of criminal mismanagement or misappropriation over a TV rights deal he signed with former Caribbean football chief Jack Warner in 2005.


    He is also suspected of “a disloyal payment” of two million Swiss francs (€1.65 million) to Uefa president Michel Platini – who is the favourite to succeed him – in 2011.


    The departing Fifa president Sepp Blatter’s 16 years as an International Olympic Committee member ended on Monday after he opted against seeking re-election. Photo: Kirill Kudryavtsev/Getty ImagesFifa president Sepp Blatter not to stand for IOC re-election


    Fifa General Secretary Jerome Valcke has been suspended after allegations that he may have been involved in an improper deal to resell 2014 World Cup tickets for a lucrative profit. Photograph: Sergio Moraes/ReutersJerome Valcke sought Fifa pay-off before suspension


    Fifa vice-president Prince Ali Bin Al Hussein of Jordan has announced that he will run again for the Fifa presidency. Photograph: Phil Noble/ReutersPrince Ali back in the race to be Fifa president


    Officers from the Swiss Office of the Attorney General (OAG) interrogated Blatter at Fifa headquarters following a Fifa executive committee meeting on Friday. His office was searched and data seized.


    An OAG statement said: “Swiss criminal proceedings against the president of Fifa, Mr. Joseph Blatter, have been opened on 24 September 2015 on suspicion of criminal mismanagement and – alternatively – misappropriation.


    “On the one hand, the OAG suspects that on 12 September 2005 Mr. Joseph Blatter has signed a contract with the Caribbean Football Union (with Jack Warner as the president at this time); this contract was unfavourable for Fifa. On the other hand, there is as suspicion that, in the implementation of this agreement, Joseph Blatter also violated his fiduciary duties and acted against the interest of Fifa and/or Fifa Marketing & TV AG.


    “Additionally, Mr. Joseph Blatter is suspected of a disloyal payment of 2 million CHF [Swiss francs] to Michel Platini, president of Uefa, at the expense of Fifa, which was allegedly made for work performed between January 1999 and June 2002 ; this payment was executed in February 2011. ”


    The statement added: “representatives of the OAG interrogated the defendant Joseph Blatter following a meeting of the Fifa executive committee. At the same time, Michel Platini was heard as a person asked to provide information.


    “Furthermore, the OAG conducted on September 25 a house search at Fifa headquarters with the support of the Federal Criminal Police. The office of the Fifa president has been searched and data seized.


    “As for all defendants, the presumption of innocence applies for Mr. Joseph Blatter.”

  26. I would imagine Barcelona FC will win the Catalan league forever then if they say Si.



    They surely cannot be allowed to play in the Spanish league.


    Opportunities for us, maybes Aye, maybes Naw.



    HH. Dontcallmeshirleycsc

  27. Awe_Naw_No_Annoni_Oan_Anaw_Noo on




    Ignore the imbeciles and the SVDP on steroids brigade .




  28. SilesiaTim



    Welcome to the blog. My workmate Artur is from Wroclaw, which he tells me is Green and White like Glasgow and Gdansk.


    Hail Hail

  29. Awe_Naw_No_Annoni_Oan_Anaw_Noo on




    This could be good.



    I hope the mudslingling starts soon



    And too think our custodians steered our club in the directon of FFP at the behest of these criminals.



    Shockingly naieve behaviour from our Banker Board and worse from the support.




  30. Non Football


    See this VW emissions thing, a load of bollix.


    Some people are gonna get rich out of this.


    About 10-12 years ago, there was a study done on car emissions, and one of the results found was that if you take the average family saloon car, make that 3000 family saloon cars, drive them around the average miles for a year, they still wouldn’t amount to the emissions released by a passenger jet flying from London to New York.

  31. Greenpinata on 25th September 2015 4:22 pm



    La Liga will continue as normal. They’ll no doubt use the English/Welsh situation as some kind of precedent.

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