With Ukio Bankas bankrupt there is an acceptance that Hearts, who owe the bank in the region of £15m, will go into administration shortly after the end of the season. This might not be the case.
Hearts major problem is their major asset, Tynecastle Stadium, which occupies a valuable patch of land in Edinburgh. If administrators acting on behalf of Ukio have free access to the stadium they may shut it and look to recoup their loans by selling the land. There is a possibility Hearts could be a football club without a stadium, but that does not necessarily mean they will go into administration. Without a stadium to use the club would be liquidated but there is a possibility they would be able ground-share.
Hearts tested the land value before the property crash and received an offer of £22m from a house builder.
Alternatively the bank’s administrators could use their considerable influence over how the club is managed to sell their shares or come to some other arrangement (Ticketus, anyone?). When the major creditor has this much control of the company without administration, going through the formal process could actually harm their chances of getting their money back.
Hoops 4 Haiti, who assist in the relief of poverty and suffering in Haiti, are holding a traditional Irish music night at Roderick Dhu on Waterloo St, Glasgow on Saturday 11 May. Live entertainment and a buffet for only £7.50, get your tickets here. You can find out more about Hoops 4 Haiti here.
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Numbers .
Mourinho to get £ 10 million a year at Chelsea .
Mourinho ‘s initial ” warchest ” will be £ 100 Million .
First purchase will be either Falcao or Cavani but if it’s the latter The Special One will only have £ 40 million quid left.
emeraldbee\o/ proud to be an internet bampot
That’s what I was thinking ,millions spent to win the 3rd division and yet they still needed their pals in black to send opponents off , give dodgy penalties etc – embarrassing .
HH
Roy Croppie
You still fancy the beers session on 25th?
HH
CRC
Italiabhoy, your description of Speirs as merely “Keevins in corduroy” is most excellent.
Crc
25TH?
celticrollercoaster
I certainly do mate.
Hail Hail
lucky cody
“However he does very little publicly to support the vendetta against Lenny.”
WTF?
I should hope that’s the case.
When the huns resurrect and then spout, with deadpan faces, their tiresome 140 years of dignity mantra, you just know it’s a dead giveaway of protective, but ultimately delusional, denial. We all know that their club is dead broke and they have issues crushing the very breath from them like a giant tombstone laced across their backs; a dead-weight bourdon of woe of Everest proportions.
I’m all for letting the dead bury the dead and if you have but even only an ounce of empathy in your heart and you have been raised to not speak ill of the dead, you will have no hesitation, nor compunction, in suppressing it. You’d be dead to rights to banish your compassion until a date and occasion when and where your humanity would be more appreciated.
Their very public and embarrassing loss tore their much vaunted – yet classless – supremacist hubris to shreds, leaving them in a reformed purgatory of shame and suffering; regardless of how dead seriously they deny the grave reality of their situation. It’s ill waiting for dead men’s shoes but there appears to be a conveyor stretching from Milngavie to Govan of willing ghouls waiting to do just that. In apocalyptic like furies, ignited so easily with an otherwise innocuous “you’re zombies” they refuse to accept the passing of their club from a tempestuous and state funded existence to a state funded liability and a death certificate colloquially known as a Notification of Liquidation. They often froth and rot and when faced with utterings of truth; they pledge retribution against those who dare speak little but other than the truth. In one breath they accuse the truth-sayers of trying to suck the life from their club, and then ir club
They nonchalantly dispel that their previous club had been driven to a dead end and ultimate extinction by a board that was clueless, moral-less, rudderless, oarless and penniless. They delight in sarcastically reminding the rest of Scottish football that they are debt free and that they will rise like a phoenix from the ashes and once again take their rightful place at the top table. Imitation of other supporters appears to be most vogue in their legions of damned at the moment but the day I am really looking forward to is the day some brain-dead hun turns up at Ibrox flaunting a banner proclaiming Tiocfaidh ár lá; now that would be dead brilliant.
There are many who cast asperations on the worth of their new clubs shares flotation, many liken it to a classic ‘dead cat bounce’. What is dead certain is that regardless of the true value of the new club, up at the lodge – the dead center of time and space distortion – brothers will be working on every Machiavellian survival plan until they are dead on their feet. Now it would be dead easy to jump in here and ridicule their efforts but I am not one for dancing on graves, if the truth be known I am dead set against such triumphalism (regardless how ever so much provoked) but it would be remiss of me not to point out to the brothers that they might just be flogging a twice dead horse. ( I know). Anyway as it stands their new club is not quite dead in the water although there appears to be quite a body of opinion that predict another wake come the dead of winter. Whether this prediction proves accurate only time will tell but what is beyond dispute is that unless the new club cut their cloth to suit and stop dicing with death, then not to far distant, dead ahead, the kiss of death awaits them once again in her best shroud.
I wouldn’t be caught dead predicting whether they will be dead to the world come the dead of winter, is very much beyond my expertise, never-the-less I would not be surprised if at some time in the not too distant future, the grim-reaper disguised as the SFO, swooped in the dead of night and proved the more optimistic of the new clubs revellers dead wrong in their optimisms and boasted rhetoric. Who knows, it yet might be a dead heat between HMRC and SFO to see who gets to bust open the dead-locks at Ibrox and bring the shining light of justice to those polished marble stairs.
Now although that could prove to be dead ugly there are many out there who would argue that the diametrical would prove more apt and drop dead gorgeous would be a fairer assessment of the spectacle.
Now I know that there are those who say that the new clubs supporters are only doing what any other group of supporters would do and that you can love somebody to death, but I wouldn’t be caught dead professing a preference to see them bite the dust, that is not the way I was brought up and they certainly don’t need me to hammer another nail into their coffin, there appears to be many much more qualified that I to do that as it is. Funny how those who are so qualified are so dead-spivie.
Now I’m dead bored with this so I’m going to pull out the plug, close the curtains and switch of the lights.
Life is for the living – let the dead bury the dead.
Speirs?.
Years ago I frequented the same Glasgow west end boozer as Speirs . Some of the punters used to refer to Speirs as ” Groovy Kinda Love “.
It was a corduroy thing.[ virtually everything else was, so why not ? ]
Seen a story in the Sun this morning about a GMP police dog devouring a a whole live hamster during a search
Nothing new in that story as everyone knows that GMP have always taught their dogs to bite animals
Yon bluenose blueprint for blue sky thinking has some good bits. I like…..
” We need to lose the reputation that we are an institution that can afford high wages.”
The Sevco boys are just so funny on soooo many levels.
blantyretim
10:52 on
4 May, 2013
Crc
25TH?
===================
Bannockburn
Freeeeeedom.
roy croppie
10:53 on
4 May, 2013
Drop me a mail at: celticrollercoaster@yahoo.co.uk
There is also a Q&A session( and beer) on 10th as well
HH
CRC
South of Tunis
If the Speirsman had a corduroy jacket, did he have them leather patches on the elbows ?
It’s a classic look, by the way.
BT
Freedom …. be another few weeks until you shout that bhoy :(
BT
The QOS players dad is Sandy Clarke
Ex Dead club/Soon to be dead club/Lanarkshires own dead club
huns/Hearts/Airdrie
or the unholy trinity
Just had a hire to the asbestos dome feel like I need a shower. Realized I didn’t like them but being in the middle of them made my skin crawl.
HH
Dead Rangers v Berwick Rangers : should be an opportunity for mass confusion.
How can they televise such dross?
I guess the question answers itself.
btw, I only refer to Sevco as Rangers (mouthwash required) as that is how it’s touted all over the msm.
Same old, same old.
Jinkster.
Hope to make an appearance next Friday for an hour or so.
Jc2
Hmmmmm
From The Herald
Key meeting to decide future of school outside Celtic stadium
PLANS to demolish the B-listed school outside Celtic’s stadium and replace it with a superstore, museum, theatre, cafe and ticket offices have been earmarked to go ahead.
Glasgow City Council will meet next week to discuss Celtic’s bid to knock down the Edwardian London Road Primary School as part of their plan to regenerate the area in time for the Commonwealth Games.
Officials at the authority have recommended that the club’s proposals, which involve the sale of the school by the council to Celtic for around £300,000, are approved.
But heritage chiefs could yet stall the bid. Historic Scotland, which the council is legally required to consult with, claims the application for demolition does not comply with Government policies, and questions whether the council is satisfied enough was done to market the building and assess all options. It says the structural report does not support the case for demolition.
Most damage to the school, which shut after 97 years in 2004 and has lain derelict since, has followed the theft of materials from the roof.
The proposals also include the formation of a landscaped avenue, essentially a wide walkway from a revamped Dalmarnock railway station, past several key 2014 venues and reaching Celtic Park. The avenue would be paved with inscribed stones paid for by fans. The new National Indoor Sports Arena and Velodrome facing Celtic Park have been completed in the past few months, while a new four-lane, 1.6-mile carriageway linking the M74 extension to the East End, skirting the stadium, has opened to traffic.
Celtic Park is hosting the 2014 Games opening ceremony, which will be attended by the Queen.
Supporting the case for pulling down the building and replacing it with the new complex, Celtic said the school offered “no particular architectural or historic interest or importance” and that given its prominent location, “without the prospect of conversion and physical improvement it will seriously detract from the image of Glasgow and is likely to deter further investment in the surrounding area and the remainder of the city”.
The council said the city still retains “many good examples of municipal school architecture” and that in terms of overall costs, “it might be the case that demolition and new build is more viable than the reuse of the existing building”.
The club submitted a master-plan three years ago with a view to enhancing the area around the ground.
A Celtic spokesman said: “This is the club playing its part in the major regeneration of the East End of Glasgow. It’s a particularly vibrant time for the area and this is an overwhelmingly positive project.”
BT
If we raise a rabble of CQNer for the 10th, will we all get in? Are you restricted for space?
HH
CRC
BT
That will make a nice change… you getting a kerry in … as opposed to a kerry oot ,)
lucky cody 10:44 on 4 May, 2013
“I am disappointed in Peter Lawwell. He is the most influential person in Scottish football.”
It’s one thing reading Zombie websites, most of us do it, but seems like you believe their fairy tales…
kitalba11:01 on 4 May, 2013:
>>>>
Great post.
I dreamt last night that the radio announced (as it burbled quietly while I slept) that Sevco had gone into administration.
I awoke, fully expecting this to be true.
Since it isn’t I prefer to think of it as a prophetic vision.
HH!
pigalle @ 11 15 .
I can’t vouch for the leather elbow patches —-.
I do remember a khaki corduroy suit , an olive green corduroy shirt , Argyle socks and a pair of brown brogues..
The resident coke dealer used to complain about his boozer being taken over by Baptist fitba scribes.
Hope the plans for redeveloping the school go ahead – we need somewhere decent for lizzie to buy her Celtic stuff.
Crc
Holds about 150 shiuld be okay.
Jinks looking for a chair o ))
BT
sent u a mail to confirm a few details
HH
CRC
FGF
Queens Park tied for 2nd place in the 3rd division this year, reaching the play offs in the process, with a players’ wage budget of…
…£Nil.
Peterhead with whom QPFC tied, and who only sing when they’re fishing, run a part time payroll of around £100K odd per year.
QoTS won the 2nd division in record style with a budget of £350K
Livi won consecutive promotions from 3rd to 1st with a budget of £800K over 2 years.
Partick Thistle this year’s Division 1 winners, are reported to have an average wage of £250 per week, which needs to be adjusted for performance bonuses and so on, but will still come in around £500K I reckon.
The cash being burned by Sevco in the lower divisions is simple vanity, nothing more. Being burned, they’ll never get a return on it, it’s gone, meaning in 2 years time, assuming they have the cash to last that long, they’ll have nothing with which to build an SPL level team. Stupid. Stupid. Stupid.
All this talk of The Return Of The (Dave) King down Mordor way, talk of them being invited into SPL2, all that guff, is a desparate reflection of what they are facing. They need either quick access to the top league again, or some vain villain to restart the Murray project. They just don’t get it, and no one seems prepared to help them understand.
New Season: New Monorail.
pigalle 11:09
I especially liked this bit:
Rangers will look after their players by providing life coaching, financial advice and other support that will help them in their personal life.
Fianacial advice! Didn’t they try that before???!!!
Just walked up Buchanan St where huns aplenty were amassing at the underground for the expedition to the title party.
I couldn’t help but laugh, even the wean asked the reason for my shoulders shaking uncontrollably!
BT
Ive got a chair for you… just fitting the plug now ;)
Jinky
With friends like you.
SSN: “The English team playing in front of the biggest crowd of the day will be Berwick.”
Ha Ha Ha Ha
BT
You know I luv you really ;)
The Battered Bunnet 11.49
You are right to say that it has been about vanity. But I think it has been about more than what they needed to spend to get promoted from SFL3.
The truth is it was an ego-trip for McCoist. He wanted to win a cup and try to show that they were still big players. He just didn’t get it. He didn’t get that they had only won things over the previous two decades because of spending way beyond their means. Not only the tens of millions debts that were swept away with liquidation. Not only the tens of millions diverted from the taxman through EBTs. Also the tens of millions shuffled onto Murray International after the failed share issue. Not forgetting the Dave King money, the NTL money, the ENIC money, the JJB money.
This is his quote from August 2012 when he was on Football Focus:
“I don’t want to give them a team that will win the odd games in SFL 3 and maybe gain promotion. I want to give them a team that can go to Tannadice in the cup and compete”
Of course this was sharply revised a few months later after they went to Tannadice in the cup and got their backsides well and truly kicked:
“I would be going crazy if we weren’t in a comfortable position in the league, because that is really where we have to be judged,” he said. “Cup runs are nice but they are, by far, not the biggest thing to this club in the next few years.”
He wanted to win a cup so they could play at being big boys again and try to show that although they were down the divisions they were still the people.
There was no sense or recognition that the club had been run badly at all. It was all down to Craig Whyte. Everything else was fine up till that point. The debt was coming down. The bank was happy with the level of debt.
Except it wasn’t and they weren’t. The debt came down by around £13 million the two years they had Champions League income (say £25-30m). So without the CL money they were losing around £7m a year.
As for the bank; if they were happy with the level of debt then why did Whyte go to so much trouble with Ticketus to pay it back?
Whyte realised they had been spending way beyond their means and that their running costs were far too high. That’s why he had to use the PAYE & NIC payments to fund the running costs.
And yet stil McCoist doesn’t get it. Asking for more money. Needing to strengthen the squad. The reality is a half-decent manager could get a club with far less resources promoted from Division Two.
Are we heading for another insolvency event at Ibrox?
What is they say? “Those who do not learn from history are doomed to repeat it.”