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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Not that i am worried about Rangers.
Celik a good player i touted him start of December on here.
Tom McLaughlin says:
13 January, 2012 at 11:13
………………………………………………………………………………………………………………………..
I’ve only been on CQN over the last wee-while for a wee peek!
Good to see that you’ve been in ghood form…..
please continue my friend…..
Hail! Hail!
Have to leave!
laters….
May God Bless ‘Every’ Celtic Fan.
ernie lynch: 13 January, 2012 at 11:17
“We could then approach UEFA and ask for their assistance in helping us gain admission to another league, which I think they would do, if only to ensure that their FFP policy isn’t strangled at birth.”
The final decision would then be down to any league UEFA approached. What league do you think would welcome Celtic?
The Celtic Board need to be and need to be seen to be Proactive on this issue!
Steinreignedsupreme says:
13 January, 2012 at 11:22
The most likely is one of the lower leagues in England.
Ian Crocker says that Henrik Larsson says that Mervan Celik is pish.
voguepunter says:
13 January, 2012 at 11:07
‘Ernie ,not to sure about that.
There hatred of us knows no bounds’
Hibs and Aberdeen chose a newco huns over us?
I’m not so sure.
new article posted. Caught anyone napping?
JohnnyClash,
Seen him atr the under 21’s tournament not so long a go. Thought he was decent myself. Liked Shakiri of Switzerland.
ernie lynch: 13 January, 2012 at 11:24
“The most likely is one of the lower leagues in England.”
The problem is we might have to stay there. I don’t see the EPL voting to allow a club of our size entry into their money pit.
Ian Crocker says that contrary to first impressions, there is no way that Rolf Harris could defeat Leo Sayer mano a mano, in unarmed combat.
Obviously if Rolf could get his hands on a Heckler and Koch MP7 that could even the odds, but as Davy Provan points out, could be seen as cheating.
For what it’s worth.
I have been posting recently about the procedural problems which Newco may experience if they are seeking to become the SPL’s newest member. I know there is a lot of concern about Newco “parachuting” into the SPL presumably after a vote by the SPL board. There is also a lot of concern about our board allowing this to happen with little or no opposition.
As I have been saying for some time, there are some significant obstacles in the way of Newco taking Oldco’s place in the league. This is a subject which could do with a website all its own. We are entering new territory here and the way forward for Newco is not very clear – if it exists at all.
There has been much discussion about what we will do when the time comes. For that matter, there is concern that the SPL will vote like sheep for Newco to take over the place of Oldco like nothing has happened. However, there is also an issue about what role the SFL clubs may have if Newco are seeking league admission.
I have been looking again at article 14 which governs the procedure to be adopted where a club suffers and administration event. In short, that article states that Oldco’s share, which effectively entitles them to a place in the SPL, would be transferred to another club as the board directs. This would be a vote by all the members and a 90% vote would be required for Newco to be the club which receives the share of Oldco. The article is quite clear that this is how the vote would proceed. Therefore, any suggestion that the board itself will deal with this issue is nonsense.
I have been thinking about the last words in the article which says that the club receiving the share of Oldco “shall become a member of the League in its place”. This begs the question whether it is even competent for Newco to become a member by this process. I feel that this article was brought forward to prevent the rise of a pheonix company so as to act as a barrier for those clubs who were not responsibly run simply taking up from where the previous company left off. Why else does the article refer to the new club “taking the place” of the old club? I am sure that there are a number of SFL clubs, and maybe even the SFL itself, who are looking at developments closely witha view to becoming actively involved in the whole application process.
I cannot be completely sure that this is the correct reading of the article. However, it is certainly a possible reading and, in my opinion, is the most straightforward interpretation. If I am correct, this means that it will be legally impossible for Newco to become a member of the SPL for season 2012 – 2013. They will have to gain entry to the SFL and work their way up.
Even if this is not the intention of the article, there remains a definitional problem for Newco. If the new member takes the place of the old member, can they still be Glasgow Rangers? They would be if they were so closely alligned with the old club that there was little or no difference between them. This could then entitle any league 1 SFL club to challenge a vote to allow Newco into the SPL on the basis that this did not allow for the “taking the place of” provision in the article. As I have said, I do not think that an Oldco/Newco exchange was envisaged when the article was drafted. If a court saw it the same way, there would be no way Newco could go straight into the SPL, either now or in the next 3 years.
There is nothing being said by our board at present. I am reasonably sure that if they have not yet come to a view on the legalities of the Newco application, they soon will do. If I can come up with these arguments, you can be sure that Paul McBride, or others instructed by our board, will come up with even better ones. If we are hearing nothing about this just now, it is simply because you never lay out your arguments about the competency of the course being taken by your opponents until it is the appropriate time to do so – and that will be after the administration event has taken place. By that stage it may be too late for Newco to save the day.
ernie
Do you think a lower teir English league would accept us and, assuming that they would, do we still play at Parkhead?
Mersey
The feelings for Celtic do not change, they stay the same, but the head tells the heart it is being shafted and in spite of the feelings, the contiuing angst of knowing you are in an unfair competition will cause a heart attack if you stay in that stressful environment.
As an example say a ref makes a bad call? What would be the point complaining other than getting your angst out there? If you are happy to keep watching and take the angst, that is a personal decision. But if it eventually, in a metaphorical sense, causes heart failure, you will have brought it on yourself.
On the other hand if you can take the slings and arrows with impunity through the love you express, good on ye.
.
Help..
My Daughter has Got a Pencil Stuck up her Nose..(The ones with the Rubber on the End)..
Should l Pull it Out or Take her to Hospital..
.
.
.
.
.
.
I’m Scared if l Pull it Out it Will..Erase.. Her Memory..
Summa
Hooped dreams
That makes sense to me, including Celtic’s silence for now.
The original concept had to be an insolvent business being replaced by an existing solvent business, not a new one appearing out of thin air.
NewRangers would to coin a phrase “go through the hoops” to become an established club.
Sandazza turns down the Huns per contract bid, according to Clyde.
More worryingly for the palyer, Gordon dee ell says he is on fire right now. That must hinder his preparation.
Fleagle
Early nap for tomorrow
BLAZING BAILEY 3.40 Warwick
Best of luck everyone.
EC67
Wetherby has been abandoned because of frost. Kempton inspect again at 10am.
Punchestown goes ahead.
Naps here today, lads…
fleagle1888
Roi de Rose Warwick 2pm for me today thanks
Showboating 135 Lingfield for me with the brightest prospect on Flat Racing abroad Master Raul Da Silva
Go get em kid the 7s wont last long.
Aw ra best Lhads
Featherbed Lane for me in the 250 at Kempton.
Currently around 14s,so that’ll be another gallant and plucky runner-up then….
Kempton 2:50 – had a good win with Venetia’s Lightning Strike last Sunday and her yard is on fire, but you can’t ignore the fact that Barry Geraghty has chosen another horse over two of Nicky Henderson’s in this race.
Act Of Kalanisi for me.
TTTT
Dorset Square in the 14.30 at Warick for me today
Hail Hail
Wolfetonebhoy
Hi all
Simonside at 9/1 in the 2.30pm Warwick for me today. (Pertemps qualifier)
Gl all esp St Johnstone. Will take a draw today for the Saints.
Decoy in the 2.50 at Kempton
Pipe will have a good day (I hope and think)
Water Garden,Roi De Rose and Sona Sasta all good each way bets at Warwick and Dream Esteem should win the last at Kempton
But Its Decoy for me
NAP
WELL REGARDED 2-50 KEMP
with most of the naps thus far on this race …surely one of us will get the winner
Morning all.
Struggling to make a pick this morn,opting for ‘Kings sunset’
in the 1.40 Kempton.
Good luck
twists n turns says:
14 January, 2012 at 11:06
I have put Simonside on my line ,so hope you get it up.
Cheers
Hey Big Spender 3.40 Warwick – good luck all.
Pause and Clause,in the 2.30 Warwick
Afternoon napsters!
Twisty I was between 2 in the same race today and you have now made my decision for me by taking the one I was edging towards, so i shall now go for t’other one ;-)
So The Token nap this week is: Handy Andy in 2:30pm @ Warwick!
C’mon You Bhoys In Green.
HAIL! HAIL!
Token
another Saturday another hangover! Drill Sergeant in the 230 at Warwick for my please at around 40’s… be lucky bhoys and c’mon the hoops
Swincombe Flame, 2.50 Kempton. Low weight and it looks to be improving, unlike my tipping.
Timesawasting – 2.50 kempton please
Good Luck all.
Lads,
I’m taking a chance with the nap today :
Kuilsriver (2.50 Kempton)
and @ 33/1… that would do nicely !
fleagle1888
Afternoon all.
Neptune Equester 1540 Warwick
That’s my Nap!!