‘News’ that a football club can actually go out of business will come as a surprise to no one here as Hearts issued a statement saying “Without the support of fans there is a real risk that Hearts could possibly play its last game on 17 November.”
Hearts have two commercial problems: they owe HMRC money they don’t have and their running costs are greater than their income. They also have over £20m of debt owed to major shareholder, Ukio Bankas, which at this stage of their corporate existence is more of an asset than a liability.
The club have asked supporters to cough up around £2m to pay HMRC and see it through until the end of the season. A further £1.7m HMRC demand is being contested but should Hearts lose this appeal, that bill will crystallise quickly.
Unlike the now-defunct Rangers, Hearts major shareholder is due more than 75% of the debt, so Ukio could vote to accept a Company Voluntary Arrangement, possibly for as little as 1p in the £1, if the club goes into administration. This is a well-travelled road for Scottish football clubs who overwhelmingly fail owing shareholders or the bank the majority of their debt.
In this respect, there is no obvious reason why Hearts are in danger of playing their last game next week. Administration would allow the club to shed its debt, including the contested tax bill. It would almost certainly result in player redundancies, which would reduce expenditure below the level of income. Hearts would be diminished as a football club, and would take a 17 point hit in the SPL, but that is as bad as it needs to get. Ukio Bankas would take the largest hit on money they may well have already written-off.
The only thing I see for Hearts fans to worry about is the property value of Tynecastle. Ukio will almost certainly have a charge on all the club’s property assets. If the club disappears, they would be left with the real estate. Tynecastle is worth a whole lot more money as flats than as a football field.
When a company cannot pay its creditors it goes into administration and seeks to negotiate a settlement with them. Hearts can do this “within days if not hours”, as Our Hero once said. It’s just curious that Hearts are playing on the bring rather than sorting things out.
Maybe they could get former player and tracksuit salesman, Maurice something-or-other, to sell some of their assets.
The magnificent 1254125 charity cycle, from birthplace of Brother Walfrid, Ballymote, Co. Sligo, to Celtic Park, got underway yesterday. Today the six cyclists, Paul Muldoon (of this parish), Mark Cameron, Alistair Schulz, Robert Campbell Ray McFarland and Jim Kelly, left Blacklion on a 80 mile journey to Lurgan.
Check out their everyclick page for more information.
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Hately praises Lenny and this has not been Aw Naw’d. Hell indeed must have frozen over.
Mark Hately (10/11)
HATS off to Celtic and Neil Lennon. Scottish football owes you a debt of gratitude for earning our game a bit of international respect at this, the worst of all times.
And as a Rangers man let me offer my sincere congratulations for the job you did on Barcelona the other night. It was nothing short of magnificent.
At a time when my old club are languishing in the Third Division, when Hearts are possibly days from shutting the gates of Tynecastle for good and when Craig Levein is threatening to sue the SFA for being sacked, despite dragging the national side down to 70th in the world rankings, we badly needed a shot in the arm.
And Celtic gave us exactly that by beating Barcelona 2-1 in the Champions League, in full view of the watching world. Suddenly Scottish football has been given a genuine reason to feel a bit better about itself.
So what are the rest of us going to do to harness some of that feelgood factor and make sure it works for the greater good?
And for any Celtic fans saying they couldn’t give a monkeys, stick with me. Because even though your team is heading towards the Champions League last 16 and leaving the rest behind, this affects you too.
Let me start with a suggestion for those sitting in their ivory towers at Hampden overseeing the carnage they have created.
If I was one of them, perish the thought, I would be doing everything in my power to piggy-back on Celtic’s result and whip up a bit of positivity of my own.
And that means picking up the phone to Gordon Strachan this afternoon, inviting him up to the sixth floor for a cup of tea, sticking a contract on the table and not letting him leave until he’s signed up as Scotland manager.
I’d have Strachan on that plane to Luxembourg next week to ride shotgun with Billy Stark and send out the message Scotland are on the way back. Give the supporters something to smile about, just as Celtic did for their fans.
That triumph showed we have one club in this country equipped to rise above the mire and produce outstanding results at the highest level. And all the credit in the world has to go to Neil Lennon.
Celtic’s win over Barca was down to his organisation skills and ability to spot a player. I haven’t always agreed with the way he handled some aspects of the job in the past.
But he’s almost like a different man now and he is proving himself at the highest level. He knows the job, his players and what is required to win in Europe.
For example, it wasn’t long ago he was the only guy at Parkhead who rated Georgios Samaras. And now the Greek is one of Celtic’s star turns in the Champions League.
That shows you how astute the manager is. He identified what the player could give him at that level and has brought the best out in him.
But here’s the problem now for Neil and the Celtic supporters. And here’s why they too should be concerned about the state of the Scottish game outside of Parkhead.
If Neil can keep this group of players together for two or three years Celtic will be capable of achieving sustained success at the highest level of the European game.
But how much more difficult will it be to persuade the likes of Victor Wanyama, Gary Hooper and Fraser Forster to hang around when the rest of the Scottish game is disintegrating?
Yes, Celtic will always have a special lure but if the rest of Scottish football is dying it’s simply not an attractive place to be.
And if the revenue streams dry up too – we don’t even have a sponsor for the SPL next season – it will become too costly for Celtic to offer the wages that might persuade these guys to stay here regardless.
So, as thrilled as Celtic’s fans are right now, everyone will get dragged into this mess in the end. Unless people start acting right now to sort it out and stabilise the game. That’s why it really matters what happens next. It’s why the SFA should have Strachan round for a chat today to give the national team a breath of fresh air.
God knows we need it because the Scottish game is suffocating and the men at the top are doing the most damage.
Kilmarnock boss Kenny Shiels said it himself the other day. In this country managers are not allowed to tell the truth. I agreed with every word of his latest magnificent rant. He got it bang on.
So let’s have more straight talking. Let’s get Levein on the phone while we are it and tell him he can stick his threat of a law suit where the sun don’t shine.
In fact, let’s take his £35k-a-month severance pay back off him and agree to see him in court. With his atrocious record there’s not a judge in the land who would come down on his side.
“So Mr Levein, what evidence can you provide to substantiate your claim of unfair dismissal? A win against Lithuania and two against Liechtenstein? In three years? Is that it? Case dismissed.”
Yes, it’s time for the SFA to grow a set and be as bold and brave as Celtic were against Barca the other night. Perhaps, had they not given Hearts a transfer embargo when the transfer window wasn’t even open, Mr Romanov might have thought twice about the way he was running the Edinburgh club into the ground.
In fact, if they had done their job then Romanov wouldn’t have been allowed to get control in the first place. But we’ve been over that story before, just at a different club and with a different owner.
Fit and proper people, that’s what we need if the game in this country is to be saved. I wonder how many inside Hampden would pass that test.
Good morning CQNers,
Kitabla
Kitalba,
Some powerful and emotive posts that concentrated on the darker side of humanity and I appreciate them.
However, I’m still filled with the joy and benevolence of being part of the Celtic family after Wednesday’s extraordinary performance of the team and supporters.
Hately GTF ….cretin
Morning all from gay Paree, wet/cloudy (13C max alledgedly).
Just about to go for my Saturday morning run (hoops on, of course!).
So brassneck-and-blowtorch LeCoist is all over the rags today giving financial advice to all and sundry and feeling sorry for his Edinburgh cousins.
Instead of bumping yer jums, Swally, how’s about stumping up the remaining 500 000 smackers still owed for Lee Wallace?
morning
tony watt tony tony watt
UEFA Champions League Weekly on ITV 4 running a nice 5 minute piece on Victor Wanyama.
It was on at 8am this morning, and should be repeated during the week.
Here it is online.
http://www.itv.com/itvplayer/search/default.html?Filter=UEFA%20Champions%20League%20Live
“jums” should of course be something else: chins, maybe
;o)
…PFAYR – Agree but how brilliant are we when even he can’t find a reason to have a go at us.
Been reading back…………
Celtic_First 00:46 on 10 November, 2012 ………….. Good stuff to my eyes………….
TTBM
kitalba
‘act of retaliation’ – they got to the point of hatred where they believed any murder was retaliation. I work with a young woman from that community who doesn’t want to have anything to do with their hate – she is the future (she’s also gorgeous !)
HH and thanks for the posts
macjay1 for Neil Lennon
02:47 on 10 November, 2012
‘I remember seeing Sean Connery in the stand at Celtic Park late `70s.
Over the years he has contributed major funding for charities , particularly in the Arts.
Precisely what you would expect from a good Tim.
Hail Hail,Sean.’
Yeah, he’s a great guy.
http://www.youtube.com/watch?v=3FgMLROTqJ0
Thought i read sean connery was a celt but somehow became one of them due to his friendship with david murray ?
Any truth in that ?
Morning all from a cold, bright Morayshire.
The article at the top of the page from ZonalMarking is an excellent read, showing fantastic insight into how Neil set the team up against Barca.A brilliant distruction of the park the bus accusations. Oh for such thoughful and non agenda driven journalism in Scotland.
HH
“@OHenleyAlex: Henrik #Larsson has quit his job as manager of Landskrona”
Connery grew up as a Hibs supporter I’m sure.
Hamiltontim:
James Connelly too.
James Connolly even.
So HATEley is complementing us?!
First time for everything I suppose!
I’m not fooled ‘tho – he must be sick!
Agree with …PFayr – Hateley gtf!!!
HH!!
James Connolly was a lifelong Hibs fan I’m sure.
HH!!
Kitalba
Yes and that one I was definite on!!
….Hibsh…….!
…ye shure?
;)
Morning all,
Once again,some excellent posts overnight.
Cheers,lads!
Particular mentions for the posts,completely different in topic,from BRT&H,CELTIC FIRST,and KITALBA.
Outstanding stuff.
Yesh…..
;-)
:)))))))
eufa champs league weekly just started on ITV4 +1.HH
I doubt hately wrote the article.
If you’ve heard him speak, you’ll know what I mean.
He’s a three faced hun fud.
Ignore him.
As for connery.
We should not entertain pr*cks like him.
Another fud.
Why doesn’t he live in his beloved Shcotland where he could pay his taxes to the good cause?
Does he have something in common with the huns.
You bet.
Big Vic saying all the right things-particularly about staying at Celtic to develop and learn.
~~~~~~~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~
VICTOR WANYAMA last night insisted he is in no hurry to leave Celtic after playing a starring role in the beating of Barcelona that created headlines all over the world.
The Kenyan international scored the opening goal in the Hoops’ 2-1 Champions League victory and earned rave reviews for a performance that is likely to have Europe’s top clubs chasing his signature.
Celtic boss Neil Lennon has already placed a £25m price tag on his head and although the player’s agent has been making noises about the midfielder leaving the club, Wanyama insisted he is perfectly happy at Parkhead.
He said: “I made the right decision to join Celtic. They are a family club, where I can develop in the best way.
“People are saying Manchester United were at the Barcelona game but maybe they came to look at someone else. I really don’t know.
“Besides, I’m not concerned about it at all. I am happy at Celtic.
“I had the greatest evening of my life in the Barcelona game.
“To beat the best team in the world is truly remarkable.
“They’ll still be talking about this achievement in Glasgow in a hundred years’ time.”
Lennon will be delighted with Wanyama’s words but the manager will have his squad in at Lennoxtown today to begin the process of clearing Barcelona from their heads and to prepare for the visit of St Johnstone to Celtic Park tomorrow.
Lenny said: “The players have been fantastic but now they’ve got to come back down to earth.
“We haven’t achieved anything yet apart from the seven points which could be very very precious, but all four teams can still qualify so we need to be judged on the six games and not just the four.
“We should enjoy these moments. But I want the players back to work to prepare for St Johnstone as best they can.”
Celtic will again be without top scorer Gary Hooper and skipper Scott Brown is unlikely to be fit.
Lennon added: “I am looking for us to win the game because we have taken only one point out of the last six in the league and I am not happy with that.”
~~~~~~~~~~~~ ~~~~~~~~~~~ ~~~~~~~~~~
Above from the record. I hope he means every word!
From Swedish press yesterday:
(a machine translation but you’ll get the drift)
The Landskrona Bois, Second Division team Swedish (Superettan), announced today that Henrik Larsson will not continue as coach after three seasons.
“The club would like to thank Henrik his great work for three years in the Landskron BoIS. Henrik’s professional attitude, combined with their high demands, have been very positive for the development of the club,” he said in a statement its board.
Club president, Kenneth Hakansson, highlighted the work with the quarry Larsson, who has made several young debut with the first team, and wished him luck for the future.
Larsson’s experience in Landskrona Bois, the first as a coach, has not been entirely successful, as he could not achieve the desired return to First, category to which the team has gone seven years.
In his three seasons, Larsson, who tried to play a game eminently offensive team ranked fifth, tenth and sixth positions away from promotion.
The club’s first choice as coach of former Celtic player and Barcelona, 41, was also surrounded by controversy, as the rival of Landskrona Bois Helsingborg, team Larsson’s hometown and with which he released in Sweden and ended his career.
Philbhoy
Been in Hateley’s company on quite a few occasions, strangely through work.
I found him sneaky and conceited.
You would know he was a hun.
Ht
It is a baj of onur for diddies like him.
I’m pretty sure Connery’s da went to the games on the Edinburgh and District bus in the mid 70’s? Not 100% sure. I was very young at the time you understand.
Morning all. Good to see the sun, although it’ll be shining in my soul for quite a wee while yet. Every single Celtic supporter I have spoken to since Wednesday evening is still on Cloud 9 and isn’t likely to come back down until the end of the season, at the earliest.
Neil Lennon and the team, you have fulfilled our collective dream and much more.
I was bemused by thon Chris McLaughlin on Radio 5 this morning. I have a feeling he’s a Tim at heart but he daren’t say anything against thon deid team. He said the difference between thon deid team and Hearts is that HMRC wants Hearts liquidated. HMRC, as we all know, have had thon deid team liquidated already. Sad, fearful journalism. Chris, they’re DEID.
Pfayr
Re Pittodrie would you be taking the car and coming down the road straight after the game?
Parkheadumsalford
The craven Scottish sports press are a national embarrassment
They are complicit in the Hun demise….clearly not all bad
Hately talks “warmly” about Lenny’s transformation but doesn’t join the dots – he has blossomed this year partly because rangers no longer exist. He has time and space now to switch players and tactics without worrying too much about dropping points here and there. Dropping 5-6 points is no longer league-losing form, for the first time Lenny has time on his side. He can experiment. He can blood youngsters. He can be patient with new signings. These are wonderful things for a manager and in top flight European football extremely rare. Lenny is grasping his opportunity with both hands and showing he has the Right Stuff.
HT
I was thinking of taking the train …and spending a few hours with my bhoy after the game…getting a later train home
Top of the morning to you all from a sunny Fife.
Sean Connery was a part time Pars fan as a boy.
His grandparents lived in the mining village of Lassodie (now a hole in the ground), just north of Dunfermline and when he visited them he would go to watch the Pars.
Not a lot of people know that!
Talking of things that are extinct, who are the mighty Peterhead playing today?
Pfayr
I might end up taking the car rather than going on the supporter’s bus as I need to get back down the road sharpish for the Race Night.
You can let me know if that’s any use to you.