When directors and creditors are one and the same

1069

Thanks to everyone who contributed questions for the Forum last night.  It was an open, frank and productive meeting.  Draft minutes will be distributed to attendees to be checked for accuracy before being formalised, after which the meeting’s outcomes will be made public through various outlets.

One thing which is evident, and goes largely unacknowledged, is the significant contribution made by Auldheid in building the channels needed for constructive dialogue between the club and supporters.  Well done, Pat.

I see Neil Lennon in the news being “flattered” after Norwich City chief exec, and former Celtic commercial director, David McNally, told the media he believed it only prudent he keeps an eye open for a new manager, should Chris Hughton ‘leave’.  Neil answered well, refused to comment on a job which is already filled, while setting a standard answer, suitable whether he was interested or not.  There is no point firmly denying interest in a job as a subsequent refusal to do so for a different position would leave too much information on the table.

McNally is right, it is only prudent you keep an eye on these things, but can you imagine how Hughton feels when reading this stuff, or what the resulting speculation will do to the club’s relegation chances?  There is now far too much information on the table now for Hughton to be effective.

A football manager needs authority and respect, Houghton has been denied both.  Norwich should do the decent thing and pay the man his contract before they sleepwalk into the lower leagues.

It’s funny how different people read the same thing in different ways.  An announcement that a club is in discussions with a couple of existing shareholders to borrow money to provide working capital is self-explanatory in most respects.

The announcement by Newco Rangers this morning establishes that the club needs a fresh injection of money to pay its bills.  We all knew this, but the sharp-eyed will also have noted that this loan will create the club’s two major creditors.  No bank will lend to Newco, their creditors will be limited to trade suppliers, HMRC and other football clubs, all pretty low values.  This £1.5m loan is likely to give the lenders sufficient control to vote through anything they desire, should administration occur.  The controlling directors and creditors will be one and the same.

Newco Rangers has been rag-dolled since its inception by various pressure groups within the broader family who seem determined to stamp on whatever green shoots of recovery exist.  What it really needs is the kind of strong leadership this directors-creditors group can provide, leaders who will do the right thing, take the necessary medicine and stand firm against the quislings.  While others tried to get the club for free, they paid their money, continue to do so, and deserve the chance to run their club as they see fit.  For what it’s worth I think the club and its current controllers are a perfect fit.  I hope they use their largest creditor status to protect their interests.

Congratulations to STV’s Peter Smith (aged 12 ½), who scooped the Royal Television Society’s Young Talent of the Year award, achieved partly because he was prepared and able to ask hard questions, when many of his elder peers would rather eat their own toe nails.  He’s still not uncovered that Dallas Cowboys email, so more work still to be done.

If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
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  1. Wenger

     

     

    BSR I think posted this last night, says it all really.

     

     

    Since Arsenal last won a trophy, Pep Guardiola has retired as a player, became a manager, took a year out and won 18 trophies along the way.

     

     

    HH

  2. mncelt ….I completed that survey but didn’t realise that it would be accepted. I now believe in Unionism and the Protestant Religion !!!!! Generally I give them totally agree and suggested that more money should be given to Ally for transfers. Of course I made some deliberate spelling mistakes so that they would be convinced!

  3. “Of course I made some deliberate spelling mistakes so that they would be convinced!”

     

     

    LOL! Good tip that for later when I join the “peepul”

  4. TootingTim supports Wee Oscar

     

    16:55 on

     

    20 February, 2014

     

    The Trident Fund? Haven’t heard of that before…

     

    ……………………………………

     

    sounds like a Huntertainment knocking joint in Barrow-in Furness……braw

  5. Gretnabhoy – I thought the statement that history and tradition are very important to them was amusing. Had fun with that one

  6. FFin’ complaint to BBC Scotland over its use of footage of the Huns making friends in Manchester in the course of a programme on independence. Reply telling them to go away sent by a Gerard Magennis:

     

     

    “The name Gerard is obviously not the real name of the person responding but is selected to further antagonize the Rangers support. Anyone who has made similar complaints in relation to BBC Scotland’s lack of impartiality and bias will confirm receiving responses from names such as Bernadette, Brendan, Sinead et al !

     

    It merely demonstrates the utter contempt from BBC Scotland in handling these complaints.”

     

    ——

     

    “Sometimes names are not an accurate indicator of allegiance but in the case of BBC Scotland it certainly will be. [Tims] seeping through every pore of the Scottish arm of the BBC.

     

    As with west of Scotland councils it’s a scandal that should be reported on, but really difficult to prove (e.g. with a FOI request) as I don’t think they have to disclose the religious or cultural background of their employees as that will be seen as a personal thing, and certainly they would not have to disclose what football team their employees support.

     

    There should be more Rangers fans working for a public funded entity like BBC Scotland than any other club, were they an equal representation of the Scottish population.”

  7. Barcelona have been charged by a Spanish court with committing tax fraud in the signing of Neymar last year.

     

     

    I assume UEFA will hammer them…

  8. Steinreignedsupreme on

    bournesouprecipe 16:53 on 20 February, 2014

     

     

    “That and getting the wrong restaurant made it a poor post.”

     

     

    I just figured you lost all enthusiasm for the post halfway through.

  9. If Auldheid is ‘drammed’ (verb. To serenade one with whisky) at CQN10 in a way that’s commensurate with debt we owe him he’ll need to change his name to Afiz…..

     

     

    HH jamesgang

  10. mncelt. I completed it as a well contented fan. Season ticket holder and shareholder. Happy with the way things are going! You know, the typical Hun Ostrich with head in the sand.

     

    It’s like the share thing all again. I said I was buying £20k worth. Wonder how many opinions they will get from the Bhoys this time? lol :) :)

  11. “Never in rangers history did it sit there with no debt, no borrowings, with cash in the bank.” I miss Chuckles…

  12. Anybuddy Know when Broonie’s Contract is Up?

     

     

    Seems tae me..the Broonie,is Next fur the Ole.. “Heave Ho”.

     

     

    n…If He Isnae.. then Ah don’ know Ma..” Lawwell, 101″!

     

     

    Fur Didnae ..Lawwell , gie.. Joe.. the “Bum’s Rush”??

     

     

    ‘Course,he did.. Read To Day’s Statement, Which Ledley Made,Concerning his recent Transfer.

     

     

    Ledley,wiz.. Superfluous, Tae Celtic’s Future Plans.. That’s How Ah wid Hiv Pit it.

     

     

    n.. So is.. Sammi? Mebbe.. but.. Ah am Sure as It wull rain Next Sunday, in Glesca.. that..

     

     

    Broonie is.. “Superfluous, tae Celtic’s Future Plans”

     

     

    Translation:

     

     

    He is Being Paid.. Too Damn Much!

     

     

     

    The Signs Are Awe there.. read ’em..n Wonder how ye didnae See ’em ..afore..

     

     

    Ah Knew that Ledley wiz .. Fur the High Jump… Months Ago..

     

     

    Ah didnae read the Signs. though…Ah wiz told.

     

     

    By .Alyss..

     

     

    She told Me , that Ledley wus ” Gettin’ Aff at Brigton Cross”,

     

     

     

    Alyss, She Knew Joe,wiznae going tae Complete his Journey.Like Alwiz.

     

     

    But, she Hid Unearthly Help . as usual..

     

     

    Fur she gets awe the Skivvy.. that she Wants.. Frum the Leavin’s.. at the Boattum o’ A Tea-Cup.

     

     

    Me.. Ah jist rely oan.. Ma Intutition .

     

     

    See if it is woikin’…

     

     

    Ah repeat.

     

     

    Dis Anybuddy oot there.. Know..

     

     

    When. Broonie’s Contract is Up fur Re-Newal??

     

     

    Kojo

     

    Still,Laughin

  13. Response to tax exile David Bowies views on Scottish Independence.

     

     

    Frankie Boyle tweeting: “I completely respect Bowie’s right to express views on Independence, just as I’d respect Iggy Pop’s opinions on the CERN particle accelerator.”

  14. Steinreignedsupreme on

    Monaghan1900 17:03 on 20 February, 2014

     

     

    “There should be more Rangers fans working for a public funded entity like BBC Scotland than any other club, were they an equal representation of the Scottish population.”

     

     

    It’s a racing certainty there are more Sevco fans at BBC Scotland than any other club.

     

     

    And the odd Gerrard slipping through the net does not change that.

  15. I think I might get found out in the big survey.

     

     

    Q1. What is your relationship to the club?

     

    Option x. Other

     

    Please Specify : Celtic Supporter

     

     

     

    Naw! They’ll not notice. Too busy getting the membership scheme up and running to get March’s wages in.

  16. Livinhoy

     

     

    Re: Ledley you’re are spot on. He didn’t have to go as there was an offer on the table and had been for a while. IMO Celtic don’t come out of this well as he should have been signed up regardless of cost and punted. They would easily have got £6/ 7M for him. Instead I would wager he got a seven figure signing on fee

  17. googybhoy ♥ we are all Neil Lennon

     

     

    17:14 on 20 February, 2014

     

     

    Isn’t it marvelous how he can make a profound and significant point but at the same time be absolutely hilarious?

  18. On Reporting Scotland tonight – one financial expert says its a “significant concern” that Rangers are asking for a short term financial fix

  19. corkcelt- SUPPORTING THE DAM 5 on

    Kojo, Obviously you are feeling like a Nut today. Anyways to answer your question as far as I remember Brooney signed a 4 yr contract citca Dec 11 or Jan 12. He would have been out of contract in June 12 so I think its June 2016. Or it could be dated from the signing time which would make it Dec 2015.

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