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 The bank could still have withdrawn the overdraft the same day, which would have made him an unsecured creditor with no chance of a return.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.
907 Comments- Pages:
- «
- 1
- ...
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- ...
- 24
- »
DBBIA
I may hold out and watch BBC Alba’s delayed transmission at 10 o’clock….unless I change my mind about taking Friday off work.
Found this on Google Plus today and figured it was apposite to the ongoing prolonged situation
– Do not feel absolutely certain of anything.
– Do not think it worth while to proceed by concealing evidence, for the evidence is sure to come to light.
– Never try to discourage thinking for you are sure to succeed.
– When you meet with opposition, even if it should be from your husband or your children, endeavor to overcome it by argument and not by authority, for a victory dependent upon authority is unreal and illusory.
– Have no respect for the authority of others, for there are always contrary authorities to be found.
– Do not use power to suppress opinions you think pernicious, for if you do the opinions will suppress you.
– Do not fear to be eccentric in opinion, for every opinion now accepted was once eccentric.
– Find more pleasure in intelligent dissent than in passive agreement, for, if you value intelligence as you should, the former implies a deeper agreement than the latter.
– Be scrupulously truthful, even if the truth is inconvenient, for it is more inconvenient when you try to conceal it.
– Do not feel envious of the happiness of those who live in a fool’s paradise, for only a fool will think that it is happiness.
Bertrand Russell
The New York Times Magazine
December 1951
miki67
iPhone.
There’s an app for walking and posting at the same time. But unfortunately according to ole Mrs Souprecipe, no app yet for useless husbandry.
The new away kit, in a word: tasty!!!
The missus will be grumbling already, as here you can wear your strip wherever you want. She never says anything though, bless her and endures my oft habit waltzing around bedecked in Hoops gear.
This stylish number will be paraded around San Diego and Los Angeles
regularly with aplomb.
Ralph Waldo- if you are about, are you sorted for San Francisco next month?
RalphWaldoEllison-is Neil Lennon Season 2011-12 on 2 May, 2012 at 16:45 said:
Paul.
Thanks for everything.
I hate those wide angle lenses! :-)
HH
RWE
I enjoyed reading that today glad you did as well
though better late than never;)
up_over
No news today, bit dodgy announcing anything when the Big House has got Peepil inside.
cadizzy on 2 May, 2012 at 17:07 said:
I don’t think the band Smokie were all that famous outside of the UK.
The lead singer died some years ago so if David Cassidy has to take over the lead vocals, I think the question will be genuine when he asks “Alice, Alice, who the f*** is Alice?”
Chris Norman is the lead singer with Smokie-pretty sure he is still alive(he was on The Ken Bruce show a month or so back doing the Tracks of his years.Think the guy who died in the tour bus took over when Chris originally left the band (after their Hits)and may have previously been in Black Lace.
Smokie didn’t make in America but were pretty big in Northern Europe but not in Japan.
Once shared a flat with a Yorkshireman from Barnsley who raved both about Smokie(From Bradford) and Ronnie Glavin!
It seems that Bill Miller wants the non-returnable £500k exclusivity fee back if things don’t work out!
miki67 on 2 May, 2012 at 15:41 said:
I confess,I knew nothing of John Keane’s ongoing huge financial support of Celtic.
Massive respect to the mhan,and a loud HH !
Like miki67 I had no idea about John Keane putting money
Into saving Celtic in their hour of need
Big thank you to him for his commitment to our great club
Hail Hail
Cash gap at Craig Whyte’s broker
Whyte-linked firm suspends shares
Whyte’s investment firm collapses
Whyte resigns from director posts
The stockbroker where Rangers chairman Craig Whyte was company secretary is being wound up with a cash shortfall of £3.4m.
Mr Whyte left the board of Pritchard Stockbroker, based in Bournemouth, at the time Rangers was placed in administration.
His main finance firm, Liberty Capital, is thought to have provided £2m in a credit facility for Pritchard’s.
But efforts to call on this to meet the cash shortfall have come to nothing.
Pritchard’s was placed in a special category of administration for finance firms by the Financial Services Authority (FSA) on 10 February, four days before Rangers was placed in administration.
The financial regulator said the stockbroker had failed to protect client funds, and had used them for its own expenses.
A statement by administrators Mazar’s said there were client claims against Pritchard’s of £27.1m, and that could rise.
But it added only £23.7m was available.
The insolvency accountants are in touch with the managers of the Financial Services Compensation Scheme to ensure they know about the case.
Liberty Capital
The statement of the administrators’ activities since 10 February also suggested that Craig Whyte’s main finance company, Liberty Capital, which is based in the British Virgin Islands, provided a £2m funding facility.
The statement said they had been told this by Pritchard’s directors, but the special administrators had been unable to find any documents that prove that.
Mazar’s added: “A request was made by the FSA for the company to call the facility to meet the company’s liquidity gap. However, no funds were forthcoming.”
The statement is a sharp increase in the amount of money involved in Pritchard’s administration, as well as in the number of clients.
In February, Pritchard’s said 6,400 clients could be affected by the administration, but that has risen to 11,100.
The good ole archduper dupes again
Must admit I knew about Joe Cane putting the
money into the Celts ,was told to keep it
hush ,hush………………………………..??
whits that ?? …….John ? .. Keane?..
…..eh…good on him anyways.
Just popped in to see what condition my condition was in…
Good to see the usual happy madness at play – Smokie, Arbroath’s finest, surely?
KrisKristoffersonCSC
Parcel! —->
I’m dissing Rangers already.
MWD
I had no idea of John Keane’s role in rescuing Celtic. Up there with Fergus for me now.
It’s obvious he has never looked for recognition for what he did that day and it may be he doesn’t want it now that his selfless act has been revealed to the wider Celtic support but Bhoy does he deserve it.
Celtic, the story that keeps on giving.
BroonSauce
A wee question ???????????
How come the hun will get prize money when they have cheated this season ???
It’s shocking.
DisgustedCSC
For anyone wanting the full story of the Adidas/Puma relationship, and history, I suggest reading ‘Pitch invasion’ by barbara Smit. It is an excellent book dedicated to the story of the 2 companies, and the town they are from.
Paul67
very interesting that you have now shone the light on John Keane when you tantalisingly touched on this on a previous story.
I have to say I didn’t have any spare cash to put forward back then and to be honest I still don’t today. Obviously we owe alot to John just for being here today and provides Celtic fans with a security for our future not being in the hands of undesireables.
Therefore hats off to John Keane, defender of the Celtic family.
On why they don’t have an equivalent of John Keane…..frankly my dear I don’t give a damn.
celt55 @ 17:54,
High finance can be a difficult and confusing process non-refundable and deadline can be pretty ambiguous.
Don’t get me started on unconditional…
The 4 horsemen of the Acropolis lol
Huns pre match team talk fineness at one of the goals at 4:30
Boss. Whit we Dane oot here.
Well Billy Boys. See awe this Stadium n stuff. It’ll no be here. No be here soon a tell yae. Take a good look. Goan. Look. The plan tonight Billy Bhoys. So as no tae lose. A want yees tae huv a sit in. A sit in a tells yas. Right along this line. Right alang it a tells yees.
MWD
Bidding now at £510.00.
Bidding closes on Monday 7th May.
Historic Celtic top signed by the slayers of Rangers (In Administration).
Fellow Celts, I need your help.
My parents recently had to go into full time care in Wellburn Care Home, Lochee, Dundee. Run by the Little Sisters of the Poor.
Welburn offers incredible residential support for those in need in the Dundee area. It is only a viable concern through the dedication of the sisters and volunteers and fundraising initiatives such as sales of work, coffee mornings etc.
The sisters need cash to maintain the home for the benefit of the residents, you cannot visit there and not be inspired by the work the sisters do.
All our favourite players have signed the top which is in mint condition and in a fantastic presentation box.
Forever more this top will be known as the 3-0 (going on 7) massacre top.
You can support the work of The Little Sisters Of The Poor by bidding for this Celtic top signed by the first team squad at this eBay auction.
Your help is greatly appreciated.
http://www.ebay.co.uk/itm/Signed-Celtic-First-Team-2011-12-Champions-Top-Charity-Auction-Mint-Boxed-/320898089257?pt=LH_DefaultDomain_3&hash=item4ab7044129
Thai Tims with the team today
awe naw 15.16…
paint it black indeed…. o))
Hun on SSB suggesting the huns issue new shares to replace Whyte’s shares.
He’s forgetting that it would be up to the existing shareholders (ie Craig Whyte) to decide to issue new shares.
Is it any wonder they’re in the mess they’re in?
Chris McLaughlin pronounces exclusivity ‘ecluzivity’ in order to sound mair Scoattish financial establishment.
Sandy Jardine comes on and says how angry he is.
Nuthin’ happenin. Oh well, three goes left at team selection (nearly got all 11 last time – Loovens, alas…). Mon the dots.
EL
They’ve also forgotten about being suspended from trading on the Stock Exchange.
Ernie Lynch, go on and meet PL
Go on and meet PL
Go on and meet PL.
Ernie Lynch. Report bact to CQN.
Report back to CQN.
Report back to CQN.
Ernie Lynch, go on and meet PL
Go on and meet PL
Go on and meet PL.
Ernie Lynch. Why would you not want to meet PL?
Why would you not want to meet PL?
Why would you not want to meet PL?
MWD
bournesouprecipe on 2 May, 2012 at 18:13 said:
Thai Tims with the team today
Fantastic.
I see Wee Jimmy Forrest infiltrating their ranks.
I don’t think we’ll see Sammi, or any other Euro’12 bound players in the Hoops again this season.
quietest Bertie has been in years
I propose m
m
MWD as ernie’s proxy
Moonbeams WD. Kano \o/ Neil Celtic FC. We are the Champions. Ignore the WARTS. on 2 May, 2012 at 18:21 said:
Surely if PL has something to share with the fans he should do so publicly. That way all fans get to hear what he has to say, not a select few.
What are we, a branch of the Masons?
STV News – “Rangers have today been informed of why they were punished by the SFA”. But no news on what the reasons were. How can this possibly be ? In the interests of transparency surely Rangers would have released this information to the public immediately ?
FF have a thread about the Thai Tims singing sectarian songs!!!! Honest. (as usual, expect loads of filth from the `subscribears` follow up posts)
Stupid stupid stupid horrible stinking evil bigoted ugly filthy bankrupt odious huns.
RIP
Expulsion, please
Remember when celtic always had really cool away tops? The new one is sweet!! Bout time.
B-)
The huns dead yet?
thomthethim
Ole Mo Bangura was bouncin away as well.:-)