The most interesting point to make about Adam Matthews is that, for another month anyway, he is still a teenager. You and I have seen enough of these games to know that the occasion has a habit of consuming inexperienced youth but Adam patrolled Celtic’s right with remarkable authority last night. All the more remarkable considering this was his first game back after injury.
Football business for 2011 is finished and new signing, Swedish international right back, Mikael Lustig (25), is now available for selection. At 6’3” Mikael has previously played in central defence but Neil Lennon insisted the player was primarily recruited as a right back but, despite the rate Celtic right backs pick up injuries, the need appears greater in central defence. It’s hard to see Adam Matthews losing the right back berth.
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pogmathonyahun @ 10:33
Now now. Good looks are not summit we discriminate towards. They just come naturally. And did Henke not grow more handsome the more he matured in the No7 Shirt?? Need I quote more examples ffs?!?
BSR,
In Lenny we trust….ALWAYS.
Read Zbyszek’s earlier posts on jellylegs, and my first thoughts were – no way, why would they sell their most valuable asset before the market has opened proper.
Have just read RTC’s latest, and mayby I’m adding 2 + 2 and getting 5. If a done deal for jellylegs is included in the accounts as accrued income (I’m no accountant btw), and needed to keep them from technical insolvency then this would make sense.
Either way, ragers FC, the amusing ‘gift’ that just keeps on giving.
Happy Birthday TET
HH
Greenjedi
Big guys who can play football is pretty much the MON template?
For mebits all about technique.. Arsenal and Barcaakpr on this and they are a by a mile the best footballing teams in Europe if not the world. Barca are better because they combine technique with work rate.
I thought our work rate was superb on Wednesday led by Scott Brown who closed down all the time, closely followed by Rogne who was tireless on defence.
Wait for it…………
Hoopslegend wee Danny Fox could be taking his tattooes into the Premiership with Southampton.
And if Middlesborough go up there’ll be a few more ex-Celts joining him.
Have you ever while lying in bed, just stuck your hand up high, out into the air to look at it, for no reason?
…the voice of the Laptop Loyal will have us in tatters and disarray, eager to hawk our best for buttons, all the while lauding jelly, flecky, Davisy and even Broadfooty etc etc……….
Cultsbhoy
I hit the submit comment button by mistake before I could add the MON bit.
I thought the whole team with the exception of Hooper worked their backsides off the other night. Ability only beats hardwork when ability works hard!
…….scratch Broadfooty………too far fetched even for the Storyteller.
Welcome to Paradise Mikael
By: Gregor Kyle on 30 Dec, 2012 09:23
CELTIC Football Club are delighted to confirm that new Bhoy Mikael Lustig has passed his medical and confirmed his new deal.
The Swedish internationalist, who signed a pre-contract earlier in the season, has been in Glasgow over the past few days to take in the derby victory and finalise his new contract – which will officially start on January 1 2012.
Mikael will be officially unveiled as a Celt at a media conference at Lennoxtown today. More news and exclusive interviews to follow on celticfc.net and celticfc.tv
RTC’s latest for those who can’t acess it.
Yesterday, one of our regular contributors, Adam, provided news that Rangers may have finally persuaded an auditor to sign-off on their 2011 accounts. With a raft of legal issues related to holding an Annual General Meeting late (and the need to have audited financial statements released prior to an AGM), it is important for Rangers and its directors that they do not add to their already complex compliance problems. Thus, it would make sense for directors Craig Whyte, Gary Withey, and Ali Russell to want to minimise any further damage.
Adam and I have had some”off-line” correspondence and I see him as someone willing to ‘call it as he sees it’. As one of this blog’s most vocal Rangers-supporting contributors, Adam and I often disagree on how to interpret data. However, I can vouch for his scrupulous adherence to factual analysis. (Some would argue that we are both selective in the facts we use, but that is a separate issue). Therefore, unless this is an effort to flush out a source of their many leaks, it does seem probable that Rangers will finally release audited accounts shortly.
In reviewing various Rangers’ fan messageboards, it appears that this issue is the subject of a lot confusion and false information. The intolerance of dissenting voices within the online Rangers community has stifled contributions from the accountants and financially literate within their support. To help fill the factual vacuum, this post shall attempt to provide an explanation of an auditor’s role in context with Rangers’ current difficulties and the likely issues behind the delay.
First, we should address the unaudited numbers released by Rangers on 30 November. The financial statements presented at that time are largely in accordance with accounts leaked to me several months ago. It is unlikely that any major irregularities or changes to the basic financial statements will be reported. The issue is almost certainly related to the issue of “going-concern”.
The accounts of every company should include a statement from the board of directors indicating whether the accounts have been prepared on the basis of the business being a “going-concern”. This basically means that the directors must make a statement that “there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern“. In plainer English, they have to certify that they do not know of any events which would cause the company to file for insolvency within 12 months of the accounts being issued. (Asset values would have to be written down to their current liquidation value if it is believed that the business will cease trading in the immediate future).
Obvious question: if it is the directors who certify the going-concern status of a company, why is there a fuss about the auditors signing off the accounts?
The chartered accountants tasked with auditing a company are required to provide an opinion of as to whether they agree with the directors or not. There are three basic boilerplate phrases that directors can choose from:
■the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. This is the standard phrasing that accompanies most audits. Its use- without auditor modification- signifies that the directors and auditors do not see a significant risk of insolvency within 12 months of the opinion.
■the going concern basis is not appropriate. This is used when insolvency is a virtual certainty and that assets will be liquidated.
■the use of the going concern basis is appropriate but there are material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. This is most likely to fit Rangers if the auditors are primarily focused just on the Big Tax Case. The probabilities of Rangers winning or losing the case can be debated and rely upon non-public information to form an opinion. Depending on what facts are available, your view of Rangers’ likelihood of success will vary dramatically. This provides the tissue behind which Grant Thornton (presuming that they are still Rangers’ auditors) can hide and claim that the outcome of the First Tier Tribunal is uncertain.
However, such an opinion would require disclosure of the risks. Rangers have previously only admitted that there is an on-going dispute with HMRC. The club have not formally admitted that the scale of the tax assessments are unpayable. This blog provided the world with confirmation of the scale of the problem with our identification of where the Bain Papers could be found online [subsequently redacted on legal advice]. The Bain Papers claimed that Rangers faced bills of £49m. This amount will be found to be high and the actual amounts should Rangers lose the case are more likely to be in the region of £36m. (The difference is due to a technical argument over whether the EBT contributions should be considered pre- or post-tax). The penalty would be determined in a separate tribunal and would likely be in the region on £12-18m given the strength of evidence related to Rangers’ willfulness that exists.
With the FTT(T) scheduled to conclude (finally!) on 18 January, we can expect their findings to be published sometime in March or April. (There is no set schedule. They publish when they are ready.) If the FTT(T) goes against Rangers, the amounts deemed liable become due and payable immediately. HMRC exercises discretion in enforcing payment during an appeals process when forcing payment would result in insolvency. However, the right to demand payment is in HMRC’s hands and that cannot be ignored by an auditor. The history of this case- Rangers’ evasiveness and extreme efforts avoid admitting the truth when questioned may not bode well for HMRC’s patience. Normally, a new owner would be cut some slack, but when the new owner has a questionable past himself, his involvement may be more hindrance than help.
If the auditors are more concerned about a basic lack of cash to fund Rangers’ immediate obligations, it is possible that they indicate that a going-concern is not appropriate. This would require a write-down in Rangers’ asset values to and would precipitate balance sheet technical insolvency. Hence, it seems unlikely at this time. I suspect that Whyte will have secured some form of short-term funding prior to any audited statement release.
The impact for Rangers in having “modified in relation to going concern” audited accounts is that they will have to release quarterly financial statements to the public. This would make it very difficult for Whyte’s ‘below the radar’ style to continue. Number crunchers would be able to discern how Whyte is financing Rangers- questions over whether Whyte has made good on his contractual promises to invest £6.7m would be answered. Whyte’s record on paying suppliers would become transparent. Using cash saved by failing to remit the correct PAYE, NIC, and VAT amounts to HMRC on time would not only be obvious, but would become a legal hazard under quarterly reporting. In short, Whyte and his fellow directors would lose a lot of flexibility.
There are many mysteries surrounding Whyte & Co. Their reasons for buying Rangers at an enterprise value at which few others can see them realise a profit is the central issue. Their baffling behaviour in the last seven months has set debate raging as to whether they possess a financial acumen unseen in Scottish business or whether they are incompetents who are in over their heads. A modified opinion from an auditor is unlikely to provide an explicit answer to that question, but we will certainly look for clues within the footnotes.
BSR – as larks go, that’s on the ole podium
TET @ 10:41
:)) I have indeed said the same thing to Capt Nic. But she loves me :)
As there seems to be a gravitation towards the role of handsomeoness in Scottish football, can I humbly suggest the most handsome team in the Scottish Leagues: 1960s – Celtic; the 1970s – Celtic; the 1980s – Celtic; the 1990s – Celtic, the 2000s – Celtic, the 2010s – Celtic. Last, by a country mile,and no mean feat – the Huns.
That’s why they wear those 5 stars on their shirt.
Bamboozling pub quiz question just answered there for ye all. They are 5 star ugly B’s.
Well, well. No sooner do the goons have a “was it over the line?” call than we have a clamour for goal line technology. I have a sneaking feeling that, had it been at the other end, we might not have seen such an uproar. But then I’m just another paranoid tim
twists n turns says:
30 December, 2011 at 09:35
………..
Great to see ye in Twisty,
Re you’re great post would be enhanced by the fact that Victor Wanyama did feature at the 3-3 Killie game, he was introduced at 0-3 and IMO was the reason we pulled it back to 3-3, Stokesy helped innaw.
V
BSR
On the whole I’d say most of our players are playing at their level but I do think Matthews looks like he will definitely play at a better level. Only being objective. Personally believe at 19 he would be better playing every week at Celtic for next 2 years before making a move but the wage structure in EPL means they can pluck talent with impunity.
The real lure for him to stay should not only be the prospect of regular pitch time but the probability of European football.
That would really develop him as a player and improve his career earning potential.
I’m in no hurry to see him depart I can assure you!!
Another big athletic player joins the Celtic juggernaut.
I hope he was there to see us gub the tax dodgers 11.
No player could fail to be inspired by that wonderful
atmosphere.
If there is one thing we know from players targeted by
the manager and that is he has an eye for a player.
I hope Mikael stay in paradise is a long, successful and
trophy laden one.
If and it’s a big if, we can get Baba Diawara to Celtic
park it would be a great window, a player playing in
a good league for a small club but banging in the goals.
If Lenny pulls it off it could be his best signing yet.
On another note is great to see the laptop mob try and
heap pressure on us by claiming we might not handle
the pressure of being out in front.
What a bunch of sad hurting huns, the pressure was
being 15 points behind with no margin for error, I’m
quite sure Neil will instill in this young team that we
can not risk being complacent.
This young team push the legneds team all the way
last season, our young managers first full season in
charge, we are wiser and better prepared for the
challenges ahead for this title run in.
The momentum is with the good ghuys now and we
won’t throw it away this time, the huns are in decline
on and off the park how good will it be to see oor own
Neil Francis Lennon deliver the fatal blow to the orcs.
Hail Hail.
Bournesouprecipe 10.45
Frequently. I’ve even pretended to chop it down like a lumberjack and shout TIMBER as it slowly falls. I can heartily recommend this to an advanced
handwatcher such as you undoubtedly are.
See if Matthews had a left foot, he would be a wonder player.
I think we all know that Craig’s Whyte plans are dependent on the out come of the big tax case. His problem has been keeping the club going until a decision is made.
Plan A was European money. Qualification for the Champions League would have brought in cash to run things day to day, and there was always the fallback of the Europa League. Surely the team couldn’t fail to qualify for that one?? Oooppppps.
Plan B was to borrow some cash. He’s done that and I’m no accountant but it is probably running out by now.
Plan C must now be to cash in on a player or two during the transfer window.
How long will it take the fans of the cashstrapped southsiders to catch on to the position their club is in. OK, as a group we know that the average IQ is somewhere around not so super Sally’s waist size. But by the law of averages there must be one or two with a brain in there somewhere.
Out of Europe twice, relinquished their large lead in the league and rapidly running out of patience with the oldest rookie in the business. Yet stilll they seem to believe that new faces will come in during the transfer window. Stupdiity or delusion?
Whyte’s policy of buying cheap has been clear to see all season. The Aluko farce. Wing wizard Ortiz who has disappeared completely. Aussie superstar Matt McKay, who is reportedly ready to leave. Who’s next?
At some stage the fans are going to realise exactly how the Motherwell born thousandaire has played them like fools. And it will be incredibly funny to sit back and watch as the smelly stuff meets the swiftly rotating object.
DBBIA
Ha Ha
CultsBhoy
Carp Diem.
Adam Matthews is contracted to Celtic for the foreseeable future,
“McGrory of Arsenal just never sounded as good as McGrory of Celtic”
Copyright Jimmy McGrory
goldstar10 @ 10:57
If he had a middle foot he’d be even better, but he wouldn’t get away with using it the way the huns do.
Amazing that the spineless can have such long effective tails. But Willie Gollum gets that. Ah feck em all.
Cultsboy,
Are you heading to the Peterhead game a week Sunday ?
Welcome to Paradise, Mikael… though I think you’ll have a job dislodging a young Welshbhoy at right-back.
glendaly
Sounds good
* Trying it now *
Gordon J
Don’t follow the RTC site so this will be simplistic. But if Whyte sells Jel. say for £4M, that’s cash he has to lose quickly is it not? And not on new players as they won’t be assetts when the admin kicks in. So my question is, which bank account will he be putting that money into? His burd’s or his secret funder’s? And how long before McMoisty realises his role as Patsy?
TET @ 10.50am,
Thanks for posting that, a fascinating read, as ever, from RTC.
TBGATB
Mikael, I hope you become a Celtic legend!
Lustig will rival Adam Matthews, Cha Du-ri and Mark Wilson for the right-back berth.
That means we will have four (current) internationalists competing for the one slot… ?
Fortunes Favour Mibbes,
He will currently be paying out more than is coming in on wages, bills he is forced to pay and basic running costs. With no bank overdraft facility to tide them over he needs extra hard cash just to keep going.
Fortunes Favour Mibbes says:
30 December, 2011 at 11:07
Gordon J
Don’t follow the RTC site so this will be simplistic. But if Whyte sells Jel. say for £4M, that’s cash he has to lose quickly is it not? And not on new players as they won’t be assetts when the admin kicks in. So my question is, which bank account will he be putting that money into? His burd’s or his secret funder’s? And how long before McMoisty realises his role as Patsy?
…………….
Would the £4m (minus any payments to previous clubs, VAT, money to Jelly and his agent) not be going straight to the January wage bill?
the long wait is over says:
30 December, 2011 at 10:08
hen1rik says:
30 December, 2011 at 01:13
Just watched that wee clip with Charlie laughing at Broadfoot.
Comedy gold.
Cheers
HH
share
My m8 text my last night while I was working and I said to her I will watch it when I go home.
If anyone looking in last night seen me rewind it about 4 times just laughing my head off at 12:30 last night it was pure class.
kitalba @ 11:10
He’s definitely taken on as a player for RB and CH (imo). But Lenny still said he wants a CH after the big lhad was signed. Someone from the back 4 likely to go methinks. Could be Dan, but probably Glenda.
Just seen minutes with cc and Celtic supporters and I’m glad shorthouse has been removed from that doing that function.
You have to wonder why he deleted his twitter account and his wifes.
Gordon_J @ 11:10
Thought that, but £4M is way too much of a cash flow injection for him to manage (although of course that is a high estimate). But it makes sense, if they get the £2.5M they expect, he might make that last a month. If they do manage to get any more thanks to meeja manipulation, straight into the bank of the mysterious benefactor. What a creepy crowd they are.
greenjedi @ 11:10
Aye, in any normal struggling business :))
Fortunes Favour Mibbes says:
30 December, 2011 at 11:25
greenjedi @ 11:10
Aye, in any normal struggling business :))
share
………..
True, but if he tries to not pay the players, they will threaten to walk for nowt