Apparently, time for Rangers fans to step forward to save their club has passed. For the want of £500k any one or collection of them could have bought an exclusive period as preferred bidder and worked on a rescue but no one stepped forward.
It is perhaps worthwhile reflecting on our hour of need 18 years ago. Celtic had exceeded their agreed overdraft limit and the Bank of Scotland informed the club that unless the account was brought back into agreed limits that day, it would go to court to appoint an administrator.
Back then there were no transfer windows, so players could, and would, have been sold by the administrator the next day. Celtic would have been left with an unwanted shell of a squad.
Word of the impending doom spread around the Celtic business community and John Keane decided to act. He withdrew £1m from his account and paid it straight into Celtic’s account at the Bank of Scotland.
John did this in the hope that he could buy time for the Celtic Movement to pull a rescue together. The bank could still have withdrawn the overdraft the same day, which would have made him an unsecured creditor with no chance of a return. There was also no agreement signed to secure the transfer of the club from the old board, each member of whom would later be dealt with on an individual basis, as shares were sold, or in the case of Kevin Kelly, pledged behind Fergus McCann’s consortium.
John kept his money in Celtic and received a seat on the new board, which he retains. He declined to appear in the publicity photos on the steps of Celtic Park when the club was rescued and although he attends the AGM every year, he remains a quiet and largely unknown figure. He has since invested more in Celtic, money he will never see back, but which has ensured his family can block a Glazier-style takeover of Celtic.
I have spoken to him once or twice, although he doesn’t know who I am, but I have often thought he deserves a standing ovation at the AGM for what he did all those years ago. Maybe this year.
We can only wonder why there was not a John Keane across the city.
Very well done to the Daily Record for their excellent story about CQN’er Tony Conway today. Tony, who now lives in the United States, suffers from motor neuron disease and made the trip back to Celtic Park last year with his Dad, John, and brother, Martin. They spent time with Jinky’s son James and met a host of people at the club, including Neil Lennon and Billy McNeill.
Read it, it’s a great story.
Remember to keep an eye on the signed Celtic shirt being auctioned for Wellburn Care Home, it ends Monday.
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no pitch invasion,the invaders musta walked away
Looking forward to seeing the Champions tomorrow night ……
Good evening my fellow unrepentant fenian barstewards!!
Paul,
I spoke this evening with someone who attended the SPL meeting earlier this week.
Doncaster told them they would lose 50% of the current £16million the SPL
currently distributes should there be no RFC next season.
This is because SKY, BBC, ESPN contracts all specify the inclusion of
TFOD, my source claimed.
I pointed out that you can’t believe anything Doncaster says, after his
performance this week. I then had to explain to this director of the SPL where and how Doncaster had misled the public !!
Anyhow, has Doncaster quantified or tested this risk, I asked. Mumble, mumble was the reply.
His view is that if Celtic were to compensate them for this supposed loss of income by sharing the TV income equally and /or sharing a proportion of home gate receipts, then Newco could be blocked. If not, then the commercial imperative will trump everything else. And don’t even mention sporting integrity.
When I pointed out he risked losing sales to Celtic fans, he stated they sold more tickets to Rangers fans anyhow!
Interestingly, he said Celtic had said very little at the meeting and the other clubs are keen to know PL’s views.
So there you have it. Give us money and we’ll do the right thing. If not, we’ll
do what’s best for us.
Surprised? No, me neither.
Bolton might be wandering into the Championship while Tottenham may well be earning their Spurs in the Champions League next season.
internet bampotts
SoAL
It’s all about the timing, just lost out on that one :<((
A Madam I think….
They’ve diverted to the empty seats in the Stands.
They’re Space Invaders!
hooped1888 on 2 May, 2012 at 21:21 said:
Naw …. They all fell asleep watching that dross
I didn’t realise that there is a natural order to adjectives, which you will use all the time and possibly never have noticed. (The order is opinion-size-age-shape-colour-origin-material-purpose, so a “beautiful little old round Armenian copper cooking pot”, for instance. Try it out of order to see how weird it sounds.)
http://blogs.telegraph.co.uk/news/tomchiversscience/100154915/expecting-the-misuse-of-the-word-anticipate-the-real-rules-of-the-english-language/
HH
Juve 1 – Partick Thistle 1
Well, well, Juve 1-1 Lecce
What a howler from Buffon
An Allan Rough moment.
FT Atvidaberg 0 – 3 Hacken
Rubicon on 2 May, 2012 at 21:24 said:
”His view is that if Celtic were to compensate them for this supposed loss of income by sharing the TV income equally and /or sharing a proportion of home gate receipts, then Newco could be blocked. If not, then the commercial imperative will trump everything else. And don’t even mention sporting integrity.”
Regarding the split of TV money, what majority is needed to vote such a change through?
Is such a majority more likely, or less likely, to be achieved without a newco huns in the SPL?
Excellent away strip
Rubicon
Doncaster is lying
http://celticunderground.net/index.php?option=com_content&view=article&id=914:who-needs-rangers&catid=47:season-2011-2012&Itemid=83
Just logged in did they do the invasion
or
As it looks like they decided to bhoycott instead.
Deserters 5 Arabs 0
The simian s(h)it in a no goer then?
Stadium half empty, official att, almost 44k, must be the biggest stadium in the world.
Hoopy Hound Dug @Hoopy_Hound_Dug
43384 at Ipox (aye right)
Outrageous crowd claims over at dodgers stadium!!
I prefer Barcelona, but don’t see where Real can be compared with bhuns ….. No way
FT RKC Waalwijk 5 – 2 Roda Kerkrade
Juventus wont go far in next season’s CL – unbeaten in Serie ‘A’ but have drawn 14 games now only have a 1 point lead over AC Milan.
Their top scorer only player in double figures (10 goals) – their goals have come from 18 different players.
FT 1-1.
Why were thems going to invade at 72mins?
Dreadful from DUtd tonight.
Is Owen C’s jaiket on a shoogly peg?Do you think he envies our Neil a wee bit at the moment?
starry plough on 2 May, 2012 at 21:33 said:
Hoopy Hound Dug @Hoopy_Hound_Dug
43384 at Ipox (aye right)
Will include season ticket holders who didn’t show up.
Absolute stunner of a goal by Newcastle, brilliant shot
Thems do Stuart McCall’s Motherwell a favour. How nice of them.
Ernie, I don’t know. I’m sure someone on here will.
Cardiffbhoy, I have nodoubt about that. I was taken aback at the lazy acceptance of Doncaster’s statement. That’s assuming my source is
version of events was accurate
time up …so invasion time
Shame Coyle’s mob are getting pumped 4-1
Rubicon on 2 May, 2012 at 21:24 said:
Hope you’re well.
Hardly surprising Doncaster is peddling this line. Not only is he a liar, he is also incompetent, incoherent, incomprehendable & incongruous. Only an idiot would have come out with his rubbish earlier in the week, my only disappointment is Jim Spence (who I like) or Jhn McKay didn’t challenge him on peddling the line that newco/liquidation was no different to CVA.
I, like you, am not surprised at all. Luckily, CW with a hold over Ibrox may hold the key to them not having access to Ibrox for next season… There is still a long way to go.
hh
B
Algarvian,
What size crowd would you say was there?Are they totally at it with the oh-fish-al attendance?
Ooops evryone gone ….walked away
Sky commentator if European Licence is revoked Motherwell take Champions League. Are they just making this up as they go along?