I hear legendary Sevconian statement issuer, Jim “Rangers are dead” Traynor, is now firmly established in the Dave King camp. You may have found recent statements familiar, including last night’s, which focusses more on interrupting Celtic’s period of domination than building a well-run and sustainable football club.
Or it could be that Dave King is in Traynor’s camp, it’s hard to tell who is the monkey and who is the organ grinder when it comes to that lot and their long and dysfunctional relationships with PR masters.
My suspicions were raised when the Sunday Mail ran a complete non-story on their front page. Someone submitted a frivolous complaint to police – this is your news, Scotland. This was the kind of article which would be found in the same publication when Fergus McCann was in charge at Celtic; an unadulterated attack on the club. Now poor (not actually poor) Graham Wallace has to deal with them.
What price ‘loyalty’ after Traynor had his snout in the trough to a spectacular level too. We actually have a recipient of some of that enormous over-spend criticising the enormous over-spend. After his money was banked, of course. For the life of me I can never understand why the other lot put up with these types.
King’s eight point statement was an absolute hoot and completely inspired by Celtic’s position. There seems to be a pattern here: do wrong, then criticise others for doing as you did.
Point One:
King first addressed the liability for blame, and possible criminal investigations, which he believed should be heading towards the Rangers International board in the wake of comments made by chief executive, Graham Waddell, five months ago. He wrote:
….“It is beyond doubt that the CEO (and other board members) was aware last December that there was insufficient cash to last until the end of the season and the board failed to respond to my previous question in that regard. The CEO is now subject to a criminal complaint on this very issue but I believe that his comments were made with the full knowledge of the board. Certainly no one came out to contradict him. We should therefore expect any criminal investigation to extend to other board members.”
Dave King was a director of now-liquidated Rangers throughout the entire Craig Whyte era, when the club borrowed money from Ticketus to fund the payment of Lloyds debt, failed to pay social taxes and came crashing down. Whyte lied about the Ticketus deal but his non-execs kept their eyes, ears and mouths shut.
King was also a director of Rangers for over a decade, including the period of the David Murray-Campbell Ogilvie EBT shambles, which was proven to be illegal on five counts, the other counts are currently subject to an Upper Tier Tribunal.
Point 2:
“If cash was wasted as a result of mismanagement (presumably Charles Green etc.) then what steps are being taken to hold management accountable for this?”
As a non-executive director of failed Rangers FC PLC King was employed to ensure interests of stakeholders were being looked after. He failed singularly in this regard and has yet to be held to account.
Point Three:
“The board has conceded that it does not plan to effectively compete with Celtic in our first season back in the Premier League.”
This is sanity, not vanity. To suggest Newco throw so much money at the team that the instantly become competitive to Celtic is a sure-fire way of guaranteeing yet another insolvency event. These. People. Never. Learn.
Point Four:
“This is a great review for Celtic fans. It is stated that the board might only raise 20 million over the next 3 years. This paltry amount will guarantee that Celtic will be in a league of its own for the next few years- and possibly permanently thereafter. Celtic will continue to enjoy exclusive access to the Champions League windfalls and will go from financial strength to strength. The gap could become financially irreversible.”
Agree that Celtic will go from strength to strength and be remain a league of their own. Disagree that the review was great for Celtic fans. The review is little more than a laugh for Celtic fans, it changes nothing for us. I like the “permanently thereafter” line, though. It carries a bit more weight than “Generation of Domination”, which sounded ridiculous to some 9 years ago when it was first mooted but now sounds a tad understated.
Point Five:
“The board still does not have a clear plan for raising capital despite knowing for some months that a financial crisis was looming.”
Correct. On a related matter, Mr King has offered unspecified notions that he would encourage other people to buy tens of millions of pounds of shares, no clear plan has been identified, exactly what he accused Newco’s board of.
Point Six:
“It is interesting that the credit card companies agree with me that the season tickets should not be released to the club. However, it is genuinely shocking that this board has, for several months, withheld the knowledge that fans would not have access to credit card facilities when renewing season ticket purchases. The board preferred to blame “external parties” in an attempt to hide this serious non-disclosure. How can this board ask fans to ever trust them again?”
I think Mr King may have composed this comment ‘after a long lunch’. Credit card companies have not suggested season tickets should not be released to (sic.) the club, they simply don’t want anything to do with these transactions.
It is not shocking at all that the decision by credit card companies was not shared by fans for a number of months. Wallace would have spent much of this time looking for an alternative. It would have been inappropriate for a PLC to disclose sensitive financial negotiations to the general public months before that information becomes relevant.
Point Seven:
“The board continues the blame game and takes no responsibility for the current debacle. In truth, it is this board’s stubborn refusal to secure fresh equity that is the cause of the present fragile state of the club’s finances. The board clearly hoped to muddle along by using the season ticket advances from fans. This review should reinforce to fans that this board cannot serve as an appropriate custodian for their season ticket money.”
If fans want to know who to blame for the death of Rangers and the undignified mess Newco are in, they need look no further than the boards headed by Sir David Murray and Craig Whyte, both of which Dave King served on. Blaming Wallace instead is nonsense.
Point Eight:
“The board has admitted that Rangers is not presently a “going concern” and yet offers no plan on how this will be dealt with in the short term. Fans could once again lose their season ticket advances if given to the club at this time. It is unconscionable that this board has done nothing to bolster the finances since the last AGM.”
Fans of Oldco or Newco have never lost their season ticket advances. What is he thinking of? Does he know what club he’s talking about?
Get your signed copy of Yogi Bare here:
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Lennybhoy
I was down at the Rapid game, remember very little due to being intoxicated. Do remember Aitken hitting the Post and them running up the other end and scoring, Pacult if memory serves me.
Like you was a bit the worse for wear. Twelve of us went. Four Celtic and eight Utd or City.
I saw Roy hit the post and thought it was in. Was still celebrating and missed their goal.
Still do not believe they scored then.
A dead rabbit was thrown on the pitch just below us.
What a night and great time in town afterwards. Night finished with us in a bit of a ruck with bikers called Satans Slaves. They took exception to a few of us calling them Stan’s Slaves.
Regards the broken seats last night,some on saying PL should do this or say that,others saying it is nothing to do with PL.When the furore broke out after the Motherwell game,and the MSM had it all over the front pages,broken seats,£10,000 worth of damage,the GB to blame,we were all angry.
That week,the stadium manager from Motherwell,a female,was on the news telling everyone she had no idea where the stories had emanated from.As far as Motherwell were concerned it was a matter between the two clubs,as it had always been,and they certainly did not release pictures to the media.
At the same time Celtic took it upon themselves to openly blame the GB for the trouble and disband them,scattering them throughout the stadium,and banning many.
To further the point,Aberdeen fans smashed up many seats at CP,but not a cheep was heard from Celtic on the matter.”Usually settled between the two clubs”.Likewise the destruction by Ajax fans.We know every time the hun have been near CP the damage is horrendous,but we hear or see very little of it.
Now if Motherwell took the matter no further at the time,then just who did?.Who had an agenda that could be filled by the damage that night.
I make no accusations.
THE EXILED TIM
McOist is technically right.
The 99% includes Jimmy Bell and his son :)
hamiltontim is praying for oscar
17:36 on 29 April, 2014
Googy
Drat, I’m unmasked :-)
Shhhhhh will say nothing to your much more attractive half.
Mmmm where is my Face Book app.
Lol
Afternoon, is that a wind up about someone being lifted for waving rosary beads…. being one who carries his at all times, including work.! I find that astonishing, although they aren’t for waving about as a means to incite others…
Ayrshire is Green and White
turkeybhoy
17:42 on 29 April, 2014
Celtic…..?
Hh
googybhoy ♥ we are all neil lennon
17:42 on 29 April, 2014
We went down by Car, straight home afterwards, nearly got lifted at a Service Staion as I was that blootered. I got a bit irate with some part-time Bhoys who I knew personally, getting toe into them with verbals as they only went to the so called big games. I asked them where they would be on the Saturday 15th December, the coming Saturday. They could not tell me where we were playing never mind who. I told them if they were interested I would see them at Easter Road.
I was there, they weren’t and we won 0-1 thanks to a striker that defected to the dead club.
Keep the Faith!
Hail Hail!
micktt
17:45 on 29 April, 2014
Rosary beads????
Now swinging a thurible about could cause damage.
Lennybhoy
When was Macari’s testimonial?
hamiltontim is praying for oscar
17:55 on 29 April, 2014
13th May 1984
Keep the Faith!
Hail Hail!
googybhoy ♥ we are all neil lennon
17:51 on 29 April, 2014
micktt17:45 on 29 April, 2014
Rosary beads????
Now swinging a thurible about could cause damage.
———————————————–
It does at St Margarets Ayr every Saturday and Sunday… cough…! To much Cannon, to much.
Ayrshire is Green and White
MickTT
17:47 on
29 April, 2014
turkeybhoy
17:42 on 29 April, 2014
Celtic…..?
Hh
My lips are sealed,in a no accusations type of way.Was just saying,like.
Lustig talking to Club over new contract
turkeybhoy
18:08 on 29 April, 2014
MickTT
17:47 on29 April, 2014
turkeybhoy17:42 on 29 April, 2014
Celtic…..?
Hh
My lips are sealed,in a no accusations type of way.Was just saying,like.
————————————————
Is a thought, but I dunno…
Ayrshire is Green and White
How do you ‘…not spend any money at all on players’?????????
Billy Bhoy
Aye, no a bad wage he gets for driving a bus and folding his arms >}
HH
A few Google results seem to confirm that it’s club wages to turnover that’s normally reported, not just first team wages.
Not so many jealous of 99% Mr McCoist.
Just heard Swally, is he for real…the wages to turnover would be the envy of most clubs and he is staggered at the losses. Excuse me Swally you were arguably the catalyst by demanding that Players were signed on unaffordable wages.
Stupid man…
Keep the Faith!
Hail Hail!
Anyone else notice the PR machine that’s spewing out the line that it’s not Ally’s fault?
I picked it up when first Chick Young, then Jingle Jackson came out with the nonsense about the wages cost ‘of the first team’ and comparing it with the total wage bill of every other club.
Goes like this: Sevco’s first team wage bill is only 27-28% of turnover. That’s great compared to the ‘guideline’ figure of 60% etc etc.
Of course, the guideline figure takes into account all wages whether first team, management, youth development, administration, ticketing, sales, marketing, maintenance, executives etc etc.
On the guideline count, Sevco’s wage bill is 99% of turnover.
McJoist (one short plank) himself is at it today, only he’s also passing the line that it wisae him what gave the players thur contracts eethur.
That and a wee line to the effect that the players who decided not to Tupe across to Sevco from the liquidated club were worth in the region of £35-45 Million, so clearly the poor fellow is under-resourced.
Repeat a lie often enough, eh.
TET,
you’ve got mail.
HamiltonTim
84. Not long after I came to Manchester.
Lou Macari Celtic Testimonial
Estimated 15,000 Celtic fans travel to Manchester.
Lou Macari plays first half for United and second half for Celtic.
Manchester Police praise the behaviour of the massive Celtic travelling support.
NoOldFirmCSC
googybhoy ♥ we are all neil lennon
18:22 on 29 April, 2014
Arthur Graham scored for them and Tommy twists, Tommy turns, Tommy Burns scored for us.
Keep the Faith!
Hail Hail!
Hi,folks.
Just spent a rather interesting day with BILLY BHOY 05 and a former SNP MSP shooting the breeze.
Followed by my favourite uncle joining us for beer.
You’ll gather I didnae win very many arguments in that company!
Great day. Thoroughly enjoyed it. Politically unsound they may be-well,they ur!-but smashing company and very informative.
Thanks,fellas.
M Lustig
Its an honour to pull on the jersey:))
C L not the most important thing , good on yae :))
Ht , how r u dooin efter yir wee primoshin tae crossin warden last week , ur yae back tae making the meals fur the weans agane lol
C ye thursday ;))
The Battered Bunnet @ 18:19
I’ve stolen you post and Maggie McGill’s ‘Truculent Lambs’
Grant Russell
@STVGrant
What does Ally McCoist think Rangers have which would be the envy of “any club in world football”? Find out on the @STVNews at Six…
@Morrissey23rd
A wage bill of 99% of turnover? Hope he’s not lying about that? Is he? http://www.celticquicknews.co.uk/?p=15174&cpage=5#comment-2154922 … #TruculentLambs
#TruculentLambs
One thing (well many more obviously!) doesn’t quite add up. King claims they need £50m to win the league and get into the CL.
McCoist said they lost £45m worth of players.
So, with a £50m+ team (remember some players were “kept”), McCoist failed to qualify for the CL. So surely it would need much more than this…..?
Oh, and has any journalist asked him how did it reflect on him (as manager) to lose to Euro minnows Malmo and Maribor with a £50m team? Breath not being held…….
One of my favourite Tommy Burns memories.
Lou Macari’s testimonial.
The Celtic end is packed to capacity,so full that we have to have fans sitting on the trackside leaning on the terracing wall behind the goal.
It was a brilliantly sunny Sunday.
Tommy scored and ran off the pitch ,he picked up a wee bhoy and raised him aloft above his head ,and then proceed to celebrate the goal with the wee bhoy held up to the gods.
Th delight on the wee bhoy and Tommys faces was a joy to behold ,the sun emphasising his ginger red hair.
Tommy Burns got Celtic ,Tommy Burns loved the Celtic fans.
The Celtic fans loved and continue to love Tommy Burns.
TT
Hello Celtic supporters,
I would like to thank all the wonderful fans who turned up at the book signing of my autobiography ‘Yogi Bare’ at the Celtic Superstore before Sunday’s game against Inverness Caley Thistle.
At least one John Hughes left the east end of Glasgow happy that day!
It was brilliant to meet the best fans in the world and have a chat about the good old days. It was much appreciated, believe me.
I liked it so much I’m going to do it all over again on Saturday before the Aberdeen game.
I’ll be signing books from 11am up until kick-off time, so come over and have a chat.
This has been a marvellous experience so far and I hope it continues on Saturday.
If you can’t make it to the superstore, may I point out that signed copies of the book are still available at CQN at the usual address?
Hopefully, I’ll meet a few more of Celtic’s twelfth man on Saturday.
All the best and I thank you all once again for the great show on Sunday.
John ‘Yogi’ Hughes
marspapa
18:31 on 29 April, 2014
I have watched Lustig celebrate big game wins and titles…he really really does get Celtic and he is a decent Player to boot. Hope he gets the contract he deserves.
Keep the Faith!
Hail Hail!
Googybhoy
I’ve got to admit I’m not a fan of going to OT. The Robson testimonial aside I’ve always seen some sort of trouble although it’s been away from the stadium.
Ps stay aff that Facebook :-)
Marspapa
I’m now allowed to pour the sand on sick piles!! :-)
JannyCSC
Lennybhoy
Totally agree , i had him down for my player of the year , i thought he wasgetting better every game , i really do hope he stays , no disrespect to fisher or mathews but we struggled could have done with him , maybe still in the cup who knows :))
Guess who’s back?
tinytim
18:35 on 29 April, 2014
Tommy Burns indeed get Celtic, got his book for my Christmas from my Mum and Dad. The first present I opened, finished the book Christmas Day, the only pause was to go to Mass, I know Tommy would have excused me pausing.
In years after I was at CP to celebrate my 32nd birthday at the Walfrid, 18th May 1994. Tommy wrote Happy Birthday Lennybhoy (well it was my Sunday name). It is a cherished treasure. I even delayed him, Fergus and Billy on their way to a SFA meeting where CFC were fined for £150k for poaching Tommy from Killie.
Keep the Faith!
Hail Hail!
Yogi,
65 v Aberdeen
69 v Morton
Two of the greatest individual performances I have ever witnessed
Nice one Sammy….
Ayrshire is Green and White
hamiltontim is praying for oscar
18:37 on 29 April, 2014
I only went to the Testimonials because I loved a good day out watching the Celtic. However, in my years of wisdom I no longer attend testimonials.
It was 13th May 1984 in case you missed my post.
Keep the Faith!
Hail Hail!
Ht , i know i’ll get megged at least once now for my wee remark , btw in my day jannies were well respected , salt of the earth , schools could’nt function properly withoot the auld jannie ;))
Morrissey
Sister stole that from me too :¬)