Dundee United chairman Stephen Thompson’s comments to yesterdays’ Herald are worthy of attention. During the summer, when United received a £1m bid from Rangers for David Goodwillie and Blackburn Rovers were hovering, Bank of Scotland, took an active part in the deliberations. Thompson told the Herald, “The bank wanted me to take £1.2m for him, but I said no to that. I had to stand up against the bank.”
Thompson more than doubled the money on offer for Goodwillie, allowing him to shave over £2m off their bank debt, but this exchange took place only a few months after the same bank told former Rangers chairman, Alastair Johnston, to accept the bid for the club from Motherwell born thousandaire Craig Whyte or the bank would demand same-day repayment of Rangers borrowings.
Bank of Scotland, part of Lloyds Banking Group (LBG), are significantly exposed to Scottish football and required a taxpayer bail-out two years ago, so although their interference in the running of clubs could seem overbearing, we shouldn’t be surprised at it. It’s business, and if you are employed at LBG with a responsibility to your taxpayer-shareholder, it’s necessary business.
Fortunately, Celtic are free from such interference, as are Rangers, thanks to their aforementioned benefactor, but if a liquidation event at a large club threatened income streams to the league I would be amazed if the Bank didn’t use the ‘Vote Newo FC into the SPL or repay your borrowings immediately’ line.
Stephen Thompson, who sits on the SPL board, might not have a choice on whether or not to vote a Newco FC into the SPL ahead of 30 Scottish Football League clubs, but he and his fellow board members will be able to set the tariff on any exceptional league entry to what would become a financially privileged football franchise.
12 seasons of cumulative benefit from financial mis-dealings should result in 12 seasons of penury at whatever points rate the league calculate benefit was accrued. For one scenario I have in mind, around 15 points per season sounds fair, with an expunging from the records of any trophies ‘won’ by Financial Doping.
This is measured, deliverable, is in the power of the SPL board to impose, and sets a minimum moral hazard to inhibit future mis-deeds.
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hamiltontim says:
12 January, 2012 at 22:29
And another thing.
These public pledges of continuing loyalty should a newco huns be allowed into the SPL, just makes that eventuality all the more likely.
re the Jeff Winter thing – his post, from what I’ve seen of the pics today, has been edited since someone first posted the link to it on here a week ago.
I’m sure there was at least one additional paragraph defying anyone to challenge him on his point of view re the Pope and child abuse. IIRC, he directly challenged the offensive/sectarian bill with his comments in the same post.
Another wee rant about the scenario of Rangers paying back their debt over an extended period at the rate of 2 bob a week deducted at source from the giro.
If their overall debt is circa £50/60m and they pay at 2m per year over 30 years, what happens if, as likely, we undergo a period of rampant inflation during the first part of that. The historical amount of debt stays at £50-60m but that amount becomes only worth 10% of what it was worth and gained them then. Rangers with inflation proofed income will be paying back an inflation diminished debt by sacrificing what it costs to buy one player but had earned them 20 players of that quality during their illegal activities.
I see no solution other than that imposed on other clubs entering administration/receivership. You are granted a deadline period to see what you can do and deal with your debts. If you can agree a repayment plan, a deadline period for emerging from receivership/admin is allowed and you get to continue as Old Rangers. If not, same as Livi, you go to the bottom of the pile- Div 3.
Personally, I think it is kinder to let them die quickly and bury their shame.
I think the prob is that, No respected accountancy firm will sign off thems accounts and put their liability insurance at risk.
K*lvin McK*nz*e is on Question Time.
Switched over. Why would such a distinguished programme have such a loathsome individual on? :-(
“Scotland moves one step closer to giving English independence”
Thought for the day.
Dirtymac
IIRC?
Just took me 5 mins to fathom that one out. A new one on me. (it’s an age thing like my music preferences)
ernie
Firstly how can you claim that any reinstatement would be the fault of Celtic when currently there is absolutely no evidence to support such an argument.
Your second point about ‘joke supporters’, well if I was to comment on that I’m sure it would be quickly deleted.
@twists
No room for the stones on our virtual jukebox jury???
The Inkspots and The Mills Brothers..
Now we’re talkin’ !
twists n turns says:
12 January, 2012 at 22:41
I posted that at 22:37, you posted at 22:41.
I’m just guessing here but: it didn’t really take you five minutes, did it?
:-p
^^me sticking my tongue out
yer a whisperin grass
Dram
oh for sure.
Angie my fav. I merely listed the first few that came into my head. (and Leo of course which is a standing joke on here between Awe Naw and I)
Hey these jukeboxes are no cheap! I might need to dodge ma tax this year………….
Another two el classicos to come, starting next week.
Cmon the Barca
HH
dirtymac
ok – 3-4 mins ya pedant. So I’m even faster than I realised:-)
dirtymac
You make a very valid point, in his shoes I would do the same, but I have my reservations as to why he is in there in the first place.
Tell you what, next week the FTT resumes and will finish on the 18th, let’s wait and see what transpires, cos we could all be wasting our time and energy talking about bollix, he could end up winning the feckin thing and we would be the ones who are fecked.
But I agree, in for a pound……….
…………………………………..
Baba
If minty gets away with this, and it looks like he will what’s the point of it all ?
He should be in the jail for the rest of his natural, he has robbed and defrauded millions of people for the last 30 odd years, and if you or I were to steal to feed our weans we would end up in jail, just the way it is mi amigo, just the way it is.
hamiltontim says:
12 January, 2012 at 22:42
‘ernie
Firstly how can you claim that any reinstatement would be the fault of Celtic when currently there is absolutely no evidence to support such an argument.’
We are talking hypothetically about something that hasn’t yet happened and might not happened (though I fear it will). So, no there’s no evidence. By the time there is evidence it will have happened and it will be too late to talk about it.
Do you think a newco huns will be allowed straight into the SPL?
Do you think Celtic will support such a move?
Do you think Celtic could stop such a move by threatening to resign from the league with immediate effect?
Do you think Celtic would make such a threat?
twists n turns says:
12 January, 2012 at 22:50
That’s what she sa..
@twists
When i first heard leo sayer i thought he was the second coming
how he ended up in cabaret is beyond me
the vocals on “show must go on” and just a bhoy etc
are superb
weeleolikescliff
My dear,dear,dear,friend .. Drambowiecelt
Hiya..Pal?
Ye are correct.
Everyboady, knows that the Aztecs, wur a Bunch of Ignorant Indians.
They didnae even hiv Telephones..or Microwaves or ..
Formica Tops .. tae thur Sinks!
Whit wid they Know?
Noo.. Ma Friend.. Alyss .. she is a Gypsy..
And.. well.. noo, That Romany Lot, they Know whit’s whit in
Wonderland.
And Alyss, jist told me Yesterday..
That The World Ends…
Every DAY..
Fur somewan… who jist Died!
So why are folks getting awe excited over this
Aztec Prophecy?
Fur..
The World has Come tae an End.. Every single day..
Fur some Folk!
and
Ye know something..
Ah Believe that She His Goat something There.
Right?
Aye.. Those Gypsy Know a thing or two.
Kojo
yer pal.. who likes ye aloater.
I had a pair of Adidas Aztecs.
That is all :-)
Fourth official Frank Mc Dermott at the Dundee V Killie checked the T V moniter to rule the Dundee goal was offside. Well, thats the only way he could have saw it as he had his back to the game!
Where have I heard that before??
http://www.justgiving.com/vanessa-appeal
Vanessa’s appeal has 1861 donations at this point. I’m sure someone wants to get the prestigious 1888.
HH
————-
If you weren’t tempted by 1888, then 1967 is just coming up.
HH
kojo,twists n turns,
Geez peace,you both sound like my dear,departed Granda.
There’s a great many good bands out there,there’s also a lot of trash,but that’s how it’s always been.The 60s and 70s had there fair share of garbage as well as the class acts.
Don’t be so blinkered,look beyond the manufactured tat that gets mainstream airtime and scratch below the surface,you might be pleasantly surprised.To quote Parliament,
“free your mind and your ass will follow.” ;-)
@kojo
Lurking behind our sun is the rogue planet nibiru,
it will collide with our earth on the aforementioned date,
denying everyone born in the year of our lord 1952 of their
bus pass. but hey dont be alarmed fair children of earth
cause it turns out that the rouge planet is indeed an anagram
of scotlands national drink.
STEPDAGAILYONWEGO
jude2005 is Neil Lennon \o/ says:
12 January, 2012 at 22:56
Ever since Lurch’s dive there’s been something that’s nagged at the back of my mind.
Does anyone recall an incident in the late 80s when, I think, Roy Aitken conceded a penalty and the explanation, such as those that were given back then was that the referee had ‘heard’ the collision?
Or did I dream this? I’m edging towards the latter, because it was rare that any explanation would be forthcoming after the varied and numerous dodgy calls made against us.
craig whyte thousandaire – have they had an investment ?
Why should Newco be in the SPL? Who are they?
Are they Rangers? If so, here’s your tax bill.
Are they not Rangers? Okay. No tax bill. No history. No mystery. But you’re not getting in the SPL, why should you?
Because, although you’re not Rangers, a lot of people might support you? Well, if that’s the criterion, the SPL should be made up only of teams from Glasgow, Edinburgh, Aberdeen, Dundee, Paisley, East Kilbride, Livingston, Cumbernauld, Hamilton, Kirkcaldy, Dunfermline and Ayr. In that order.
It says on Wikipedia that these are the cities and towns in Scotland with the biggest populations, so if we’re hand-picking teams to be in the SPL based on the numbers of people who might support them, this is the way to go.
Bed time methinks.
Night y’all :-)
H2
hehehe
Baba
I listen to music fae 1950 to last Friday. All genres. Of course there is some rare stuff at present. I agree…..but very rare. Personal taste you understand. As for free your mind………trust me ma erse is ahead of me, but I can’t like stuff that ah…….dinna like!
The Hat
from earlier
i`m in complete agreement with you
if Newco Hun fc get into the SPL they have won regardless of sanctions (which in any event will be minimal at best )
The quite excellent Slimshady on RTC has posted this. It’s very funny.
—
Slimshady says:
12/01/2012 at 10:26 pm
Is anyone on here struck by the run of bad fortune that appears to have followed anyone who was a company director called Craig Whyte born in Scotland between 1969 and 1971?
It’s unbelievable
—
The Hat
I agree with PF Ayr regarding your excellent post.
Chapeau.
Baba
n’ be very proud of yer dear old grandad. Clearly he was a very fine gent with impeccable music taste :-))
Vote Vermin Supreme in 2012. . . .
http://www.youtube.com/watch?v=4d_FvgQ1csE
ernie
I would be doing both of us am injustice if I continued this just now as I’m busy. Tomorrow possibly?