Back in 1994, when our day of greatest need arrived, Celtic fans had already invested years in developing a recovery strategy in case the club faced extinction. A disparate group of “rebels” filtered out good ideas from bad, established a platform for recovery and ensured that when the hour came, one man was ready and able to walk into a branch of Bank of Scotland and deposit a large sum of money into Celtic’s account, while others rallied support and prepared for the recovery.
Those rebels eventually went their own ways as many of those who stood shoulder-to-shoulder with Fergus McCann found allies in conflict didn’t make for friends in peacetime, but the rebels were united long enough to Save our Celts. Without their preparation, Celtic would have quickly gone into administration and who knows where thereafter.
Compare and contrast with Rangers in their hour of need. There is no preparation, no consensus of the willing, not even an acceptance that this is, in fact, an hour of need.
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Declan im with u on this ishue. We shood stop laffing up oor grand wizard sleeves at the Rangers and fokus on ower own troubles.
Honestly I don’t know how you do it, Declan. It’s really difficult being that good at being bad at eng-ur-lish.
Come on mate, what’s your statement on the statement?
And does it have any place on a Celik forum?
Are we getting blindsided here?
Chauncey Gardiner CSC
New article posted by Phil…
It wont be Administration tomorrow, just some Sheriff Officers and a removal van… :0)
Anyone fancy helping me out with the list of forwards QPR will have after the likes of Cisse & Zamora sign?
Smith, Macheda, Bothroyd, Cisse, Zamora, Helgusson, Mackie
Dan what time, I really will need to be home for that!
Oh we have another one!
“No I trust the fact hat we did not sign any of our primary targets in the summer and now are selling our second best player and will not replace him or find cover for our best player, Steven Naismith.
We have a chairman who bought into this knowingly- and now comes out blaming a newspaper and the previous board. Yes, the Record has a clear agenda, yes, David Murray put us in this ****- but FFS what did the due diligence show- a great wee company with nothing difficult onthe horizon?
If he has another business model- let’s hear it. Sell the entire squad today and give the kids a chance, tell us that were not going to win the league for three years, but we’ll come out the other end like Barcelona. The fans might just buy into it.
But coming out with a Kelly “It’s no ma fault” statement is just ********. “
Dontbrattbakkinanger says:
31 January, 2012 at 15:12
Pawel picking up the ole #17 jersey, as worn by Didier the Great.
***
And Annoni anaw.
cardiffbhoy says:
31 January, 2012 at 15:00
dirtymac
interest charged on the accounts for 2010 and 2011 show figures of £170k and £179k
interest rate being charged on our loans is around 2% (LIBOR + 1.125%)
On that basis our average borrowing over the 2 year period is around £9m.
We have a £22m loan facility – balance has been £11m last 2 years.
Overdraft is £12m – with an average balance of £5m in credit, £7.5m the year before.
You dont need monthly accounts to work out that we have access to cash and havent used it.
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The accounts state our average overdraft was £11.53m in 2010/11.
At some point, one might assume that the overdraft was floating around zero (June thru November perhaps as ST money and Euro tickets are banked??), then start to increase on a monthly basis until the next June and averaging out at that £11.53m.
I would like to see how we detail these moneys on a month to month basis and to know the actual extent of our debts throughout the year. It is somewhat telling that the accounts state, regarding the overdrafts, that £12m payable on demand is ‘undrawn at the balance sheet date‘, which can be further be read as: but was used throughout the year.
SSN saying Craigy and his motley crew have had a ‘bid’ rejected for Grant Holt of Norwich
Another £1?
My favourite piece of spin from Whyte’s statement is:
“In the summer transfer window last year we conducted 14 different pieces of transfer business… This included … improvement to existing contracts.”
Pretty loose definition of transfer.
I just read the Daily Rangers fanzine ‘investigation’ there. Laugh out loud stuff right enough.
Not so much the details on the financial catastrophe facing the Huns, as most people on here have been discussing their problems for years, but the fact that Keith Jackson is attempting to rubbish someone for telling lies.
An outstanding level of hypocrisy from one of the poorest sports journalists of any generation – how bad do you have to be for that recognition?
Hell mend you Jackson, you’ve done more to hide the truth from the Huns than any Celtic fan could ever wish to.
Events of 1952, not 1951, from the brilliant CelticWiki-
During season 1951/52, while Celtic were floundering on the field, the club became involved in an increasingly tense contretemps with the SFA.
Several cases of misconduct involving Celtic supporters, culminating in disgraceful behaviour at the New Year’s Day 1952 clash with Rangers, had been concerning the authorities in Scotland. The Glasgow magistrates met to discuss the situation, and made several recommendations which they invited the SFA and the Scottish League to consider.
The most controversial was the the fourth: “…that the two clubs should avoid displaying flags which might incite feeling amongst the spectators”!
This vague statement was construed as a reference to the flag of Eire which flew over one end of the covered enclosure, and some football officials — undoubtedly with a history of coolness (sic!) towards Celtic — chose to use this recommendation as an excuse to threaten the club. After consideration, the Referee Committee of the SFA ruled “that Celtic be asked to refrain from displaying in its park any flag or emblem that had no association with the country or the sport” on match days.
When the full SFA council convened to consider the approval of the committee’s report, Bob Kelly of Celtic rose to defend the club’s traditions & heritage and to move the rejection of that part dealing with the banning of the flag. It all went down to a final vote, which ironically was Rangers (under John Wilson), and they actually voted for us! Before anyone begins to sense some bonhomie between the clubs, ultimately this was due to the financial aspect of losing Celtic as an opponent. Rangers needed Celtic financially for matches.
However, the council voted to ignore Celtic’s plea — and the battle-lines were drawn. If Celtic continued to fly the Eire flag in defiance of the SFA ruling — and any misconduct by their supporters took place — the club would face a number of unpleasant options: “a fine, or closure of the ground, or suspension or all of those penalties.”
The thought of Celtic being suspended from Scottish football over such a matter was ridiculous, but that threat hung over the club for the remainder of the season. A clique within the SFA, orchestrated primarily by the secretary, George Graham (a bitter Orangeman and Grandmason), continued to press for Celtic to take down the flag and submit to the SFA’s demands. Celtic had taken legal advice on the matter and were confident about the outcome. However, George Graham was not an easy man to tackle and was described (even by his peers and neutrals) as a “bigot”.
Ironically, it was Hibs (itself decked in Irish colours) who were behind George Graham.
Hibs’chairman Harry Swan was an “acting” SFA President at a respective meeting on the whole issue and despite what some say, he wasn’t a heavy handed bigot (he even commissioned works from Ireland for Hibs, including commissioning a new Hibs’ crest to replace a previous large motif on the entrance that was lost on demolition due to rebuilding of part of the stadium). It’s also taking things too far when some say it was Hibs revenge against Celtic for supposedly bringing them down in the 19th Century (the latter being complete balderdash from Hibbee fans when you look at the facts). Admittedly Swann was a known Freemason but he did enough in his time to indicate that he wasn’t necessarily an arch-bigot. Most probably in this case he was playing power games in the SFA corridors, siding with George Graham in order to further and enhance his own ambitions in the organisation and with others.
However, Bob Kelly had to contend with considerable pressure from his colleagues on the SFA council. He remained unshaken, and eloquent in the defence of Celtic’s traditions, and it became his finest hour.
So, why was this flag so important to us? The club had been founded by Irishmen and their descendants in the 1880’s, and the flag was flown to recall that association. The particular flag flown at Celtic Park was presented to the club by Eamon De Valera (the first Taioseach (Prime Minister) of Ireland) and his government, and so it was deserving of respect and not something that we should have to lock away. Importantly, this came in the wake of the demise of Belfast Celtic who were forced to cease to carry on in 1949 following a vicious riot that led to the vicious attack on their players which led to the serious injury of one of them. Bigotry from the opposition was the root of it, and if Celtic were not to follow suit to Belfast Celtic then the club had to make a stand for itself and its history.
The opposition to Celtic’s stance fragmented, and eventually the furore faded away. The threat had been made, pressure applied — but the likelihood of it ever being translated and enforced into action was diminishing in light of Celtic’s resolve and willingness to take the matters through the courts. Financial considerations over lost games etc played on the other clubs minds (pure self-interest of the wallet) and it was defeat for the SFA. For George Graham it was a black eye and Harry Swan ended up having to waddle away with his tail between his legs (the whole episode back-fired on him spectacularly).
The SFA had used the whole issue for their own ham-fisted aims, but they didn’t count on Celtic’s tenacity over the matter, they expected the club to be docile. Why were they aiming at the Irish flag? Rangers’ sectarian policies were being swept under the carpet and the flag issue was being used as a diversion technique. If it was supposedly to dampen down troubles in recent Celtic v Rangers games, then how exactly was the removal of a flag to do this? There was trouble at Ibrox and Hampden Park in previous Celtic v Rangers games and there was no Irish flag flown at either of those stadiums. Maybe they could have flown the Irish flag at Ibrox at the next Celtic v Rangers game to test their theories out).
The entire events illustrates a crude attempt by the authorities to use their own ignorance and bigotry to challenge and blacken the name of our club to mask their own deficiencies.
In retrospect, the matter may now seem to many like to have been ‘a storm in a teacup’, to be recalled for amusement, but at the time it was anything but that (especially in light of events surrounding Belfast Celtic). The Irish issue had social resonance for the time which is for analysis way beyond this summary, and it has been side-lined too often in this debate.
For Celtic, a club founded for a disparaged minority, it was a big victory for the Irish community and the club’s sympathisers. The sad irony is that Hibs (a forerunner of senior football for the Irish community in Scotland) were one of the clubs behind the attempt to suppress Irish symbolism at a fellow club.
Quotes
‘He’ll roast in Hell for what he tried to do to Celtic.’
Desmond White (Celtic Chairman in 70s) on then SFA secretary George Graham
iBhoy – I remember Rico wearing #2 ?
Ironic, isn’t it. Craig Whyte urging R@ngers fans not to buy the Record. Since many Tims already give it a wide berth, it shouldn’t be long before we’re rid of two stinking Scottish institutions at once!
This whole saga (since before the takeover) reminds me of the film Marathon Man where Dustin Hofman (the huns) is undergoing some dental torture by Laurence Olivier (Lloyds bank) and gets fake-rescued by William Devane? (craig whyte) who gets nowhere and has to return them to the hands of Laurence Olivier (now Octopus/HMRC), which is where we are now.
They’re getting to the stage where they are totally paranoid and can trust no-one.
The Exiled Tim,
Thanks for replying to me.
Although I asked for more, the drawback is that I do not always understand it fully or piece it together.
I take it the non ludge members are against the ludge members?
DarnTheHairWeCare
BBC Scotland’s Brian McLauchlin: “Bristol City make a move for St Johnstone captain Jody Morris. They are also interested in striker Francisco Sandaza…”
Has Grant Holt bought the huns yet or what?
James79
Early last week I was told Jellylegs going to Everton when it looked like it would be WestHam and posted it on here.
Same person has told me some people showing up tomorrow to either collect cash or collect valuables…
For those like me who have arrived late and not even read the Record the Rangers Tax Case blog is good reading. It all begins to make sense RTC
The facts behind today’s Daily Record story will come as no surprise to the readers of this blog. It will come as even less of a surprise to the blog participants whose sterling work uncovered the Companies House filings and refined the analysis on which today’s story is based. In the local vernacular, “chapeaux” to all concerned, but especially to: Don Dionisio; JohnBhoy; PaulieWalnuts; Onandonandon; and so many others. (I feel like an Oscar winner who has left out the names of several key people in an acceptance speech. Forgive me for the many omissions, but we will find a way to recognise other outstanding contributors in another post).
Many will still be trying to figure out what is going on at the Daily Record let alone Rangers. After years of sycophancy, it seems a remarkable turn of events to see Keith Jackson and James Traynor bite the hand that once fed so much. The motivations behind this sudden turn of events piqued my curiosity. After a few calls to some well placed sources, the pieces of the jigsaw started to fall into place.
This morning’s Daily Record story represents the opening artillery barrage in the Battle for Rangers’ Soul. As we have been hinting at in recent weeks, there was never a guarantee that Craig Whyte would have the field unopposed to rebuild Rangers. Following receivership (which in this case would mean certain liquidation), Craig Whyte’s newco-Rangers would have no more legal claim to be the successor to the club formed in 1872 than if I formed one. It is with this in mind that Rangerstaxcase.com can ‘exclusively reveal‘ (sarcasm intended) that current and former Rangers directors, Dave King and Paul Murray, are planning to force Craig Whyte out of the picture. By exposing Whyte’s reckless financial strategy, they hope drive a wedge between Whyte and the club’s supporters.
With bankruptcy in some form now looking inevitable, the path will be open for King and Murray to claim the mantle of legitimacy as the inheritors of Rangers’ traditions and fan base. A season ticket renewal boycott will likely play a role in forcing Whyte from the field of play as will continued revelations and insinuations of incompetence and fitness to be Rangers’ custodian.
King faces hurdles related to his public involvement in this plan. His current directorship is a legacy of his financial investment made before his own tax troubles in South Africa exploded. As direct result of this dispute, he is subject to court orders in Scotland and England preventing him from buying or selling any assets. The court orders also prohibit anyone from buying or selling assets on his behalf. However, it is widely believed that he has accumulated substantial personal wealth offshore and would have the means to support a relaunched club if legal obstacles could be overcome.
Unimpeded by any such restrictions, Paul Murray is not believed to have the personal wealth required to launch Rangers on his own. Therefore, the alliance with Dave King is a natural one. However, if King cannot resolve his issues with the South African tax authorities (SARS) soon, suspicion may fall once more over any relaunch of the famous Glasgow team. After a decade in which playing in the shadows of the law has brought Rangers to the brink of disaster, any newco that is not seen to be above reproach in terms of its sources of funding would continue to fuel the curiosity of bloggers and investigators.
However, with the backing of the Scottish media, King and Murray can expect an easy ride. The Daily Record has clearly made a decision as to where its own economic interests lie. If Whyte is not going to be able to supply enough positive transfer stories to boost circulation, then regime change will get their unquestioning support.
Those who might have hoped that today’s Daily Record might have signaled a new period of responsible and open journalism in Scotland will be disappointed. It is more simply put that Traynor and Jackson are backing a different horse.
“#Motherwell accept bid from Blackpool for Jamie Murphy. He’s holding talks now.”
dirtymac – our overdraft was never £11.53m , that was the average balance on our loans, where we have a limit of £22.69m.
2 of us can play at being pedantic now. you can read it as how you want to read it, if we paid interest of less than £180k at rates of less than £2m our average borrowings were no more than £9m throughout the year. We may well have owed £30m at some point, but that would also mean we were £21m in credit at some point.
Anybody seen hide or hair of Serenity? Plenty of material to get his gums intae
just read the statement form that craig whyte guy. the guy can write anyway. he is really good. he knows big words a bit like our paul76 here. the more i see of this whyte guy the more i like him. i know that willnae be popular round here as he is a figure of radicule for you guys who have have been laughing all day at him. but he comes out everytime there is a problem with a well written and hionest statement. he always talks to the fans as far as i can see and hasnt told them lies like we get told daily. when is the last time dermot spoke to us. whyte stepped up to the bowl and put his money where his tongue is for them. he has backed his manager with some superb players whilst our manager is still waiting for his transfer targets to be gotten. he has came out time and again and laid his cards firmly on the bench. their fans know where they stand with him. where do we stand. will the mcdonald money be used to give lenny the striker he caves for so much. we will see. i bet we go with what we have and they spend all the jela money. bringing in lovencrands and grant holt. i dont think our 1 point lead will be enough thebn. their squad will be flying if they get players of that caliper in.this sint finished guys we might not be laughing in may let me tell you
Cheers for that Dan as the song goes, I just cant get enough!!!
Think I’ll have a lamb dinner tomorrow!!!!!!!!!!!
Mon the Hoops
Some Italian reports, Fiorentina have made a bid for Samaras.
S.F.A. statement on Flag ban can be viewed on Celtic Wiki at:
http://www.thecelticwiki.com/photo/13269965/S.F.A.+Council+approve+Eire+flag+ban+Feb+1952
Dontbratt, absolutly fabulous piece, and a reminder of my own dark past in Larky
dirtymac
“It is somewhat telling that the accounts state, regarding the overdrafts, that £12m payable on demand is ‘undrawn at the balance sheet date‘, which can be further be read as: but was used throughout the year”
When accountants complete an audit, they request certain information from a Bank. This will include the balance of certain accounts, at the balance sheet date. You could therefore read this to mean that the overdraft was undrawn at the balance sheet date. This is factually correct. To read it as was used throughout the year is just speculation, and like something Mr Whyte would come up with.
Based on the figure given for interest charged in the accounts Celtic are unlikely to have dipped into their overdraft at all over the last 24 months.
…………………..in fact has anyone seen smashinmilkbottles? He was spotted last night lying under a champagne magnum and hasn’t been seen since
cardiffbhoy says:
31 January, 2012 at 15:54
dirtymac – our overdraft was never £11.53m , that was the average balance on our loans, where we have a limit of £22.69m.
2 of us can play at being pedantic now. you can read it as how you want to read it, if we paid interest of less than £180k at rates of less than £2m our average borrowings were no more than £9m throughout the year. We may well have owed £30m at some point, but that would also mean we were £21m in credit at some point.
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That’s kind of my point. At some point we would have been heavily in the black and another heavily in the red. The heavily in the red point is our limit. The average debt is not.
ha ha ha ha ha ha ha ha ha ha
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Sorry, but Declan you do make me laugh
Are you Craig White????
Deccy @ 15.54
The McDonald Money? How much is a Happy Meal?
No single pies at Ibrox.
31003 @ 15.58
…hic
I’d better go noo before ah get a row fae Roccobhoy
If RTC is blogger of the year then surely poster of the year goes to Declan.
He gets my vote
Motherwell born Poundanairre
Declan
Wee sined a polish dood yesterday, so we did.
Whit yoo talkin aboot ya bam!
We huv got jariz back as well. We ur well sortd.
SmashingMilkBottles says:
31 January, 2012 at 16:03
If RTC is blogger of the year then surely poster of the year goes to Declan.
He gets my vote
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Hell yeah
Keeps us all happy!!!
Smashing milk Bottles,
Back to work! :)
Hail Hail
Roccobhoy