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 The bank could still have withdrawn the overdraft the same day, which would have made him an unsecured creditor with no chance of a return.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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BABASONICOS71 on 2 May, 2012 at 21:39 said:
Algarvian,
What size crowd would you say was there?Are they totally at it with the oh-fish-al attendance?
To be honest, I would say just over half, so around 25k or so? Best guess.
Afternoon all,
I think I’ll be getting the new away strip. I love it.
It makes a change from the garish bumble bee and tiger bar code ones. I found it difficult to take them seriously and no way would I buy them. All we needed were the big floppy shoes to complete the Coco the Clown look.
The ‘pitch black’ kit looks like we mean business! Can we use this in Europe or do we have to stick with the green and gray hoops?
Hail Hail
Rubicon – Celtic took bigger crowds to 6 of the SPL grounds this season, the Huns to 4. They do not contribute more than we do
Apparently there’s a clause in Papiss Cisse’s contract that lets him leave for £15m.Not long for Tyneside methinks.
Boo, Walkaway Huns Supporters Club couldn’t muster enough to fill a pitch invasion.
Peter Houston will be giving it large in post-match interviews.
It’ll be obsequious fawning Hun apologist bingo time:
‘Super Ally…’
‘Outplayed us…’
‘Magnificent support…’
‘Hope for survival…’
‘SPL needs them…’
‘Scottish Institution…’
‘Not the players and fans’ fault…’
Then he gets a pat on the head from the freaky handshake fruitcake brigade and goes home with a big gurn on his mostly bewildered mug.
Imbecile. In advance.
Unlucky to my big tim pal Jim Jefferies
Algarvian,
Cheers fhella.
So much for no surrender.
Totally off topic
The Internet is a Force for Good – Discuss
http://www.meet-an-inmate.com
(an btw a friend showed me it!!)
Good score for Hibs,bye Yorkston.
What an embarrassment from United tonight. If I were Houston I’d be horrified I’d lost so heavily to a team managed by Ally.
HamiltonTim
How are you my friend, I trust you had an enjoyable day on Sunday ;-) first I’ve been on here since!!! I think. Busy week.
You’ll need to pop in and visit when passing, had the pleasure of BRTH yesterday afternoon, BlantyreKev last week…
hh
bjmac
Press will be full of how good they were tonight, how we all need them, etc.
C’mon Tax Tribunal. Time to deliver the final blow.
Cardiffbhoy, my source is a director of one of the SPL clubs. He was referring to attendances at his club. He may be one of the four you
mention. That apart, I know your facts are correct.
Rubicon @ 21:37 – I know what you mean, Doncaster is as slippery as a Tory politician (sorry Philvis !). He is a born liar. This is the man who took Norwich from the Premiership down 2 league to Division 1 then left them after they’d lost £5.5m. A failure then and a monumental failure now. No-one in the press is willing to challenge his theories though
sandman
I have a bro in law who name dropped houston to me ,he doesn’t speak to me now since I gave him my honest thoughts on his pal :))))
His repeated digs at Neil last year showed I was right.
HAIL HAIL
jackie mac on 2 May, 2012 at 21:43 said:
Totally off topic
The Internet is a Force for Good – Discuss
http://www.meet-an-inmate.com
(an btw a friend showed me it!!)
Was gonna ask Pearl for a date, but she’s 76 the noo, and disnae get oot till 2015 :(((
Are Hibs now safe?
Motherwell will join the Champions League in the third qualifying round for non champions.
Looks like they will be the lowest ranked team and will get a club from the likes of Portugal, Ukraine, Holland, Belgium, Turkey or Russia.
Snake
Hibernian 5 ahead with 2 to play.
Big surprise here.
Pawel Brozek is in Poland extended squad for Euro 2012. I expect him to be finally out.
Gordon J
How much cash will Motherwell make from that game?
How much will they get from ONE (because that’s all they can get next year guaranteed) from Rangers coming to their stadium?)
End of.
sickening summing up from rabbit in the headlights Spanner
cardiffbhoy on 2 May, 2012 at 21:32
I’ve saying that for a while now, without the facts.
It would be fitting for their “newco” to be dropped into the third division to supplement the incomes of the smaller clubs, thus giving them a boost in income, as a penance – they might do walking away then,…
I would welcome an SPL that had more of a challenge, this way we can sharpen up as a team and give Europe a good go – Just look where Bayern Munich are.
Soon to be “Living the Dream” – if the cheats go bust i will renew my season ticket, gave it up three season ago when i found out the deck was stacked,…
Murderwell in the Champions League,Smellsea in the Europa (possibly/hopefully/come on Bayern),who’d have thunk it!
Snake Plissken,
Indeed.
And never mind the financial side, there’s the footballing kudos of being in the top tournament. In any other sports league a big team going out would be seen as an opportunity by the clubs below.
TimsinOhio 20.30
http://www.sydneycitycsc.com/ Try also .com.au
This will do for a starter.
Bit of a stunner from Pappis Cisse for Newcastle tonight. Not great vid at start, replay it’s a beaut.
http://www.youtube.com/watch?v=gzbQ0vYdI50&feature=player_embedded#!
Algarvian
there’s a queue for her !
Apparently a newco is different from a liquidated company.Here was me stupidly thinking newco was short for new company.Well that is good news then,they’ll be able to pay all that debt they owe.
Eastenders wins best soap of the year
bjmac
A memorable occasion that will long live in the memory.
Busy, busy mate just like your good self. Excuse my ignorance but where have I to pop in to?
HT
Has it been that long?
Find it strange that, when his body was discovered in a padlocked bag, the report says the M16 officer was PROBABLY unlawfully killed …..!!!??
macjay1 for Neil Lennon on 2 May, 2012 at 21:58 said:
TimsinOhio 20.30
http://www.sydneycitycsc.com/ Try also .com.au
This will do for a starter.
Thank you sir.
why 10 mins added in chelsea game?
jackie mac
Michelle from California looks lovely and she’s only got another 826 years to go.
bigphil47
So the huns can invade the pitch
bigphil47,
Injury to Tiote,play stopped for about 8 minutes.