I was messaged by a very good source this afternoon:
“Heard a rumour Admin was discussed at the board meeting. Any truth?”
I had not heard anything apropos an insolvency event discussion at Sevco so I checked with another source.
I realise that this isn’t normal practice in Off The Radar journalism.
However, a second source is standard practice here in Donegal.
He confirmed that during the conclave of the Sevco High Command yesterday that the efficacy of a planned administration was examined.
I was still sceptical given the fact there is very little external debt at the business.
Mr King confessed to this dignified colleagues that he did not have the money to keep the show on the road.
Another director said that although he had been generous to the Holding Company Vehicle in the past that largesse was now Parked.
They discussed the prospect of not being able to get any more soft investment or loans from directors.
In that eventuality, an insolvency might have some merit.
For one thing, Administration allows them to slash the player wage bill.
For example, it was pointed out to me that the combined basic weekly wage of Eduardo Herrera Aguirre and Carlos Alberto Peña Rodríguez is £47.5k.
That does not include bonuses or signing on fee payments etc.
Of course, that £47.5k sum does not include employer’s National Insurance contribution which, according to Rugger Guy, brings the figure to approximately £55k.
By way of comparison, Paddy Roberts and Kieran Tierney almost certainly wouldn’t between them be taking £47.5k per week out of Celtic.
The Pedro experiment has left the Holding Company Vehicle with a crippling wage bill.
That isn’t a good place when you’re a loss-making business without a credit line from a bank.
That reality has to be addressed and although the Sevco High Command definitely DID discuss the merits of administration yesterday they reached no firm decision.
Developing entertainment…
A question.
John Fleming has been in charge of SFA referee development for a number of years yet not one outstanding ref has come through the system.
The Scottish manager can be sacked because of poor results but the referee supervisor is untouchable, why?
We have the likes of Steven McLean culpable, with his assistants, for the hand ball block in the ICT semi final being missed.
In the league cup semi last week he could easily have sent off Bowman if he’d shown him a second yellow but more worryingly he missed Alves kicking Moult when 10 yards from the incident with a clear view of events.
How many major mistakes are refs allowed before they are eventually demoted or sacked?
What key performance indicators are applied to the job of referee supervisor? Is there any?
Farry was sacked for gross misconduct apropos the Cadete affair yet the registration supremo who was advising him remained in situ.
This of course is the same official who came up with the improperly registered but legal response when confronted with the EBT side letters which drove a horse and cart through the SFA rule book.
But never ever submit a document to the SFA with one signature or date where there should be two or you are likely to be thrown out of a cup competition or subject to a fine disproportionate to the offence.
Ah the SFA, teflon one and all…except the national team manager.
T
After the complete bollocks of team selection by Strachan for the Slovenia game I see Ryan Jack’s name appearing as a probable call up for the Holland friendly!
If this is the case then whoever is picking the squad has truly lost the plot.
Having watched the Well semi final last week Jack was notably absent, not for the first time this season.
In fact he was invisible!
I have no idea what his supposed attributes are because I’ve seen nothing to indicate that he has any.
If indeed he gets called up and gets a starting place ahead of MacGregor or McGinn then it smacks of the old days of an SFA committee picking their pet players from their favourite clubs.
Lest we forget he has 4 sending offs in 3 months of football and now that it’s common knowledge that he has sensitive toes he can expect plenty of wind ups coming his way in domestic football.
Copper of Leeds is the same. He is a nightmare. (A Bruno Alves assassin type.)
If they do go into admin and this time competent administrators are appointed, their first job would be, sorry should be, to try to get the business operating on at least a break-even basis. Usually that starts by reducing costs drastically. Usually again this means cutting the salaries of the highest earners or dispensing with their services entirely. Now I believe if you lay someone off you cannot then hire someone else to do the same job within a certain period of time. In most walks of life this is fairly easy to get round by simply giving the job another title and slightly changing the duties. I don’t think it would be just that easy with a footballer. Interesting and entertaining times ahead methinks!!!
Off topic Phil, Just to say to all Tim’s to check out Kevin Miles singing “Celtic My Heart & My Soul” It’s a fantastic song, I had a lump in my throat listening to it. HH Kevin Miles.
Hi Phil, regarding a past post which you commented of graeme souness’s thoughts on how Scottish football needed a strong rangers( like a fish needs a bicycle perhaps ?), my first thoughts were “why now”. Was he talking about the past, or perhaps what was to come. Time will tell
It’s two years and eight months since King turned up with his concert party stating he had £50m to invest in SevcoRangers.
He told shareholders holding 81 million shares to vote off the Board the previous incumbents and vote himself onto the Board as Chairman and his confederates as Directors.
He told the SFA his party had £50m to invest (£30m from his family fund) but it was not going in until they found him fit and proper and allowed him to be chairman.
Recently his QC has described him in court as penniless.
King is a liar. He has lied to SevcoRangers fans, shareholders, his QC and the SFA and the press and tv.
He has the money but never intended to put it in.
CLEARLY NOT FIT AND PROPER AND NEVER HAS BEEN.
as a celtic supporter i am 100% behind king.
craig whyte also got my vote as did charles green.
if king does leave then i won’t be too unhappy as long as another crook replaces him.
I can’t see how administration will help. What Rangers need right now is cash, and having to pay administrators would suck a load more out. They can’t ditch the football debts, and they don’t have a lot of other creditors to stiff. Anyone with any sense will have insisted on getting paid up front, so most of what they owe is loans from the directors.
I also think that having the cold shoulder over Dave King will cause them massive problems if they do go into admin. Remember that it actually is in operation, it’s just that he’s been able to dodge the consequences by not doing any business within the reach of the UK authorities.
Administration changes all that. What you’d probably see in other circumstances would be the old debt for equity swap switcheroo. The loans get called in, they can’t be paid so the administrators get called in, and massive numbers of new shares are issued in exchange for writing them off. The original shares end up owning say 1% of the recapitalised company, the other 99% go to those who made the loans.
But would the administrators be willing to work with Dave King if he’s still subject to the cold shoulder? Could he find a bank? Legal advisors? Would he even be given a vote on any deal? Remember that this is new ground for everybody, so there’s no precedent to look to. No-one’s got a clue, the administrators don’t want to expose themselves to law suits, so that would mean lots of very expensive legal advice would have to be taken from very, very expensive lawyers, and look, even more bills. And those bills have to be paid in full.
And as TAB have already ruled that there was a concert party in action, if the concert party members do end up with a majority stake by the back door then TAB might feel that they have to do more to defend the credibility of their regulations. What about all those other investors who find that the shares which were apparently trading for 27p a couple of weeks ago are suddenly worth 0.27p? Suddenly that 20p that Dave King should have offered looks quite tempting. And if he stays out of reach in South Africa, maybe the other, UK resident, concert party members might find themselves the target of a law suit or two.
Rangers can’t afford to fund that sort of administration, so the choice comes down to liquidation or somehow limping on to the end of the season.
Then it will be the big earners in the squad who initiate the insolvency event. They only get paid so long as the music keeps playing and Taylor & Park keep ponying up the soft loans. When they stop, the music stops – and the big earners don’t get paid – just as how it happened at Tynecastle. They will be preferential creditors and will rank above any other creditors unless they are secured creditors.
That will probably bring about their own redundancies; but will they really care? Do they really want to continue to play at Ibrox now that Pedro has gone? It will, of course, also mean that the 2.5 years of the sacked managing team’s contracts will be reduced to a fraction of what they’re owed.
Taylor & Park will effectively write-off what they’re owed; but it also means they can continue without the debts of Pedro, Alves etc. sucking even more out of their pockets. It also means King can go back to his wine cellar south of the Limpopo.
It is more than five years since ‘Rangers’ entered administration so a “second” insolvency event will only attract a 15 points deduction – and avoiding any new club/old club arguments. That may still see them be able to scrape home to a top-six finish.
So I think it’s just a question of when. Taylor & Park might pony-up a wee bit extra until enough points are garnered to make a top-six finish look likely before pulling the plug and dispensing with the big earners. Or they do it now and hope that Murty and his youngsters in the squad can pull a rabbit out the hat. Next three games really should be 9/9.
I see that the most exceptionally, very excellent mr graeme murty looks set to be unveiled as the new manager
It has to be someone already on the payroll.
So why have they interviewed Preud homme?
To pretend they can afford him, Billy.
You lot just never catch on, do you?
But we can always spot you …
This would not surprise me in the slightest. If he can string two or three results together it becomes an easy one to spin to the sevconian hordes. He won’t cost them anything other than a minor bump in salary. HE steps into a no lose scenario. IF he makes a half decent fist of it he’s taken his first steps in management. If it all goes tits up, which is surely more likely, he can step back into the old job with no real damage to his reputation. It would be interesting to know who orchestrated the ‘spontaneous’, “One Graeme Murty!” chant today. FFS, three wins in a row and they’ll be calling for a Knighthood!
Nest three games are Partick (H), Hamilton (H) and Dundee (A). That *should* give Murty four wins on the trot and spin the gullibillies into believing he has found the bread man’s magic hat.
if they really are speaking of admin did pedro and his team get their pay off
Just had an online spat with a Newco fan who challenged me to provide evidence that their was a split in the Ibrox dressing room and that Miller and Wallace were to the fore!
Even when its slapping then in the face they can’t fess up to the truth.
Months of regurgitated pish in the media over and over conveying that all was fine in the dressing room!
Turns out to be a big lie.
The Motherwell billionaire with wealth off the radar.
A huge porkie.
SDM’s continual harping on that he would only sell the club to someone who could take it forward.
Probably the biggest lie of all.
The continuity claim that allows a 5 year old club to lay claim to 54 league titles and the bizarre most successful club in the world boast.
Do you think in a couple of years time that Celtic will claim this for themselves……surely 55 Scottish titles trumps 12 European Cup/CL wins?
How can anyone trust or believe the nonsense in the papers,on radio or TV when most of it is fabrication and/or wishful thinking.
The blue facing media are desperately trying to bale out the boat, seemingly unaware that it’s holed below the waterline…….. hey let them get on with it.
Back in the real world, if we can stop laughing for a moment, we stand by waiting for Mr Sensible to put his head above the parapet, tell the blue hordes the facts of life and try to steer the ship clear of the approaching storm.
Such is their sense of entitlement they will expect miracles or anything that prevents 10 IAR.
Next season The Hoops are going for 8 IAR next season, its getting tantalisingly close and whoever gets the Rangers gig will find patience and sympathy in short supply. There could well be another 2 or 3 managerial casualties along the road.
This is a special time for Celtic fans as we go for 96 unbeaten domestically and back to back trebles, enjoy.
If anyone, mainly the media, thinks that the Hoops fans will tire of success, they can suck it up as the demand for ST’s to witness 8,9 and 10 IAR will be through the roof.
Following on from the previous massive financial failure from within Ibrox Stadium under the watch of the entire senior administrators of both the SFA & the SPFL, the esteemed Punch & Judy cricketing experts Messrs Only In It For the Dosh & Banqueted Jollies, Regan and Doncaster, how can this be happening again on their experienced watch. This within their super overhauled and tightly overseen new improved rules and procedures. They supposedly have completed all the changes and improvements required to ensure no similar tragic recurrence of another massive sporting rip-off and embarassment to Scots sport.
How in the name of the wee man, can Regan and Doncaster not be held personally responsible for wilful negligence bordering on wilful corruption due to such recurring debt build up and associated deflection as personally experienced administrators being unable to see this coming and shelter Scots football from the impending effect of second time around lies, cover-up, and gratuitous overspend at Ibrox.
Surely these two incompetent non football orientated buffoons with absolutely no skin in the game other than the freebie possibility of personal home improvements or similar, and maybe cheap luxury cars should be taken out of their posts for negligence A SECOND TIME AROUND!! That is an example of the contemptious regard they hold the Scots paying fan
What could possibly has been their incentive to omit and neglect tight critical oversight of an organisation headed by the world renowned Glib and Shameless Liar that these two incompetents deigned to be fit for holding office (for a second time), of what was in the days before cowboys like David Murray and King, a senior Scots footballing institution.
The SFA needs gutting of useless and corrupt blazers if only to protect Rangers fans being fleeced by their own. King, Regan, and Doncaster, together with the supporting cast of SFA crooks and incompetents need a root and branch investigation and purge to really ensure this pish really cannot occur again.
Administration is great for cutting expenditure as you can walk away from many contracts. And it can be good for reducing debt through a Creditors’ Voluntary Agreement. But what it can’t solve is a lack of income. If you have already received and spent your annual income, and if you have no assets worth selling, then administration will inevitably slip into liquidation because there is no cash flow.
Gotta feel sorry for the poor Timmy Bears.
Aye, right, so we will
If admin does happen and somehow King manages to slip away and be free from rangers 2012 with some cash in the bank who is going to come to the rescue and put some much needed cash in which they know they will never see back?
A self made Motherwell billionaire perhaps??
Interesting times ahead HH
I believe they can avoid 25pt deduction this time around because they are not the same club, they were LIQUIDATED, only if they had emerged from admin the first time as same entity would another admin event be counted as 2nd time, so may be interesting to see the verbal gymnastics of SFA & co trying escape from being between a rock & a hard place.
They will trip themselves up eventually……..takes a really, really good liar to remember all the lies they have told
I have yet to meet one……have you?
David Mac, I believe the 25 point/10 point only occurs within a five year period so regardless of your views of old club/new club the 25 points would not apply
Are you stupid? It was the company that was liquidated not the club! Even if ra gers decide to go to administration it will be the first time the CLUB has gone into administration but the debts could easily be absorbed by BDO within the old company’s accounts. Once we don’t owe anyone anything we will be able to buy loads of big time players, such as Erikson from Tottenham.
They avoid the 25pt deduction anyway because it is more than five years since they last entered administration. So the continuity myth can remain intact.
Would admin protect directors from claims against them personally for trading while insolvent. Which the accounts and lack of potential loans or investment may well highlight.
Perhaps from a personal view it’s their only practical way forward other than more £s.
I’m not sure it achieves much when football debts have to be repaid and the bulk of other debt is loans from directors, though it may piss off a few others who have lent funds by one means or another.
Even without external debt they are still in deep trouble because someone has to pump in more money to fund ongoing losses and the directors may well say they won’t do it and hence administration could follow
Just how many times can this mob go into liqidation and arise from the dead like Lazarus …This is getting beyond funny ?. How many times are they going to pull this stunt before they are disbanded for all time
it’s certainly hotting up for Sevco The Rangers.
Has Peter launched a devilish Celtic jelly and ice cream range yet ,as we all need to cool down ?
Suspect the auditors are having a hellish time signing off the The Rangers accounts.
The club, or was it the holding company, was misnamed International, surely it should have been Sevco the Rangers Luxembourg ? just a thought.
Even if they do fall into administration, and even if they do manage to take a wet wipe to the balance sheet and reduce their wage bill, once they re-emerge – or rather, if – they will still be on the hook for any outstanding expenditure on transfer fees still owed to other clubs. ‘Football’ debts cannot be dispensed with the same ease as those accruing to, for example, face painters and the like.
Most interesting to watch though would be the viciousness the pit of administration could induce. Of those who have provided soft loans, none are wealthy enough to simply write off £14m.
On a side note and in no way related, when a colony of rats is endangered, those rats eat their own young.
So McInnes is the number one choice according to the media….so it must be true.
With he and his backroom staff having signed contracts for the next couple of years the compensation could be £2m plus.
I doubt if Milne would want anything other than the money up front.
Some of The Hats signings are still hanging around, now we have Pedro’s duds as well. The wage bill must be through the roof.
King is walking a tightrope. Claiming to be skint at the COS and presumably the same story for his concert party. Where’s the cash going to come from.
The COS ruling is awaited with huge interest and as it sets a legal precedent will be looked at in great detail by the legal profession, not just in Scotland but in the UK bringing the case to a wider audience.
It’s inconceivable that being skint or not knowing the rules will give King a free pass.
If the holding company vehicle goes into administration, does that mean that the panel members who study any new application to join the SPFL will comprise of Arnold Clark, Peter Vardy, and Guy Salmon? Will they be required to show evidence of a valid MOT first of all?
If Arnold Clark is involved, it will have to be via a medium. Then we would have proof beyond doubt, not of life after death, but of corruption in Scottish football! ?
Murty says that anyone in their right mind would want the Newco job.
Again begs the question how did Pedro get the gig?
I think Admin would have to be looked at ,there is no doubt that sevco 2012 budgeted for the group stages of the EL .
That and the debacle that was Pedro’s panto and the cost to clean that mess up ,all this on top of a club that was already running at a loss .
If this were say,dundee hamilton or thistle ,everyone in the MSM would be saying they are in big big trouble but because it’s sevco everything will be alright .
Well look what happened to the last club the klan follow followed
Surely no more director funding means mandatory Administration?
It’s not exactly a choice!
I suspect that the “alternative” sources of finance that have been referred to by Phil recently will be far from “soft” loans and that the involved parties will have “alternative” methods of collection.
I don’t believe that the board as a whole are clever enough to pull off an admin coup and re-emerge debt free and I think that the club, stadium, team etc. are too far gone for a Kennedy or Ashley now.
I rather think that this is the true beginning of the end.
I find it difficult to believe that the soft loans are not secured on Ibrox and Murray Park.
One of the things that came out from the TOP appeal was a concert party offer of funds at a commercial interest rate also secured on the assets.
Of course the media blanked these revelations as it didn’t suit their agenda. If it had been Ashley they would have been all over it, and not in a nice way.
Am I not right in thinking that…
Ownership of the assets is still to be determined ?
Or to put it in the Glasgow vernacular….
“Whaur’s the Deeds?”
?
Ah Phil, you truly have a wonderful way with words. I could listen to you for hours, I’m sure.
Keep up the good work.
HH
Phil; as you point out, Administration would allow them to slash the wage bill down. Does that not mean though that the players can refuse that and become free agents? Not saying they would choose that but is there a ramification?
Also, isn’t one of the problems with insolvency that the current soft loans from the Directors would be impacted? I could be wrong but I thought that in the accounts they were simply short-term loans and so they would be treated like any other creditors debt for re-structuring?
Thanks for any clarity you can add from your sources. Great work, Sir!
Seems to be inevitable administration,even a planned one.
They continually shoot themselves in the foot,repeatedly so;so much so, I’m beginning to think they enjoy this rollercoaster kaleidoscopic shitshow that has been running since 2012.
Can the dead die again,?and can admin mk.2 have a better outcome?,if possible,one that keeps the spivs away and sevco on an even keel?
Feq I sincerely hope NOT,we are all so accustomed to laughing at them and if that stops there will be mass hylarity withdrawal symptoms ALL OVER Scotland.
I pity the victim,sorry candidate,for their hot-seat,you’d need to be absolutely stark raving bonkers.eg.
Billy Davies,Sooper Salary……
Thanks Phil ?HH
Maybe big mike will come to the rescue
Ohh how the mighty have fallen
Lol
Nothing to stop him now that he’s sold Newcastle …
No wouldn’t that billionaire with wealth off the radar be a handy addition to keep the old handshakey bandwagon rolling across Scotland while helping Sky’s plummeting premium sports packages at the same time ..?
He hasn’t sold Newcastle. He’s put the club on the market but no one, as yet, has bought the club from him. So Rangers is still off-limits -unless the SFA have a change of mind.
At least try to keep up if you can’t think ahead, Frank.
We can’t both be right. Ashley has either sold Newcastle or he hasn’t. Yesterday’s Guardian reports that “due diligence is under way [but] no firm bid has been received”.
Meaning a potential sale is imminent.
Do you really think Ashely will have the same trouble selling Newcastle as Murray had selling Rangers?
6 years of praying for a patsy ..?
An EPL club with massive potential ..?
Nah, Frank, Ashley will be rid of it by the end of the year at the latest, freeing him up to sample the tasty big pie that the Orange facing Scottish fitba ‘authorities’ and ‘sponsors’ have already prepared for his delectation.
And I can promise you this, they’ll have a big bow wrapped round that pie saying
‘Please save Rangers*, Mike!
And our necks into the bargain!’
Then it’s up to the wide bhoy himself which way he goes.
As I told you, Frank, you’re stuck on the details and not thinking ahead enough, you gotta get ahead on these things, not rely on what you read in the poxy Guardian or other scum based news sites.
Why on earth would you sell an EPL club to buy a money pit clusterfuck like Rangers 🙂
Ashley also knows first hand how Scotland’s “elite” operate. Another massive reason to stay well away.
I don’t believe Ashley will return but I bet the SFA, SPFL, Sky, Ladbrokes & BT Sport could present him with a tidy enough ‘incentive package’ to prevent the outright death of their beloved totem pole dancing comedy club if need be, with Ashley getting as tasty a cut of the proceeds as he so desires.
As the ‘RRM’ in charge have consistently proven, there’s no need for an emotional ‘tie’ to the bluenosed club, in fact, judging by their actions, it seems the more you hate this ‘club’ the better …
No, all it requires is a strong desire to extract both the ‘Billy Blue Pound’, and the piss, out of the delusional hordes around Ibrox, who clearly HAVEN’T yet suffered enough, even by their own low standards.
So long as you have ‘one of their own’ to reassure them every day that you’re a ‘Real Rangers Man’, you’re laughing all the way to the bank.
Even the one which will not extend them any form of a credit line …
Clever post…
HH
It things ain’t bad enough in Govan the Celtic performance on Wednesday was at a level not seen before under Brendan and a clear sign that the squad is improving, just as Brendan said it would.
This is real improvement not the kind manufactured during an international break, no matter how much the media clung to Pedro’s words.
Kudos to Derek McInnes and Willie Miller for their wholehearted genuine praise of the Celtic performance.
Can’t help thinking this could be a really special year, fighting on 4 fronts after Xmas.
I haven’t laughed this much since Pedro was appointed!!
Ironically, me & my missus are off in a few minutes to see our finance guy. We’ll be putting some money away for our wee grandaughter’s university. It’s amazing how far a little planning goes …
Let them know it’s Christmas time
Will the Board feel really silly when old legs Miller doesn’t score any goals?
Backing a player over a manager is madness but it is Sevco.
Administration = 10 point deduction = relegation fight.
Oh dear.
Why would it be 10 points…….ah I see this is one of the issues where they won’t claim to be the same team.
I would love to be a fly on the wall as Regan and Doncaster try to defend their judgement on this one…..feckin hilarious.
Do the SFA/SPFL rules make specific reference to the issue of administration affecting “a basket of assets”?
Yes…..
But only…If the basket of assets is Imperfectly Registered…:0)
I thought if the “same club” had an administration event twice, the first event (2012) is a 10 point deduction, but a second one was 25 (I could be wrong on this number) points deducted? The question will be: will the West of Scotland Junior League allow the new new club/holding company vehicle thingy to join them, or will they have to apply for a temporary licence to play in the Sunday Pub League?
Steven R,
the way things are in sevconia atm a pub league team might just be a step up in class for whatever they then will be calling themselves.
Question is Phil,what will be the penalties,?that’s if the sfa can manage for once in their pathetic existence,to actually mete out an appropriate punishment in accordance with their rules.Although,this time round they will not be able to pull the same stunt as last time,because,quite literally, the World WILL be watching.
So Phil,is it 10 points or 25 points,?that’s my question,please.☮️
If it happened I think it’d be 10 points. Regardless of the fact it would be their first insolvency event I’m sure I read something some time ago that said the 25 point rule applied if the second event happens within 5 years.
I think thats only if you are a new club to administration . They proclaim to be the same club so it will be more than interesting to see how that one pans out.
Either way they are friar tucked
Such a strategy is risky and depends on a friendly Administrator playing game.
1. All shareholders should surrender shares and club ownership to court appointed Administrators. How would Club 1872 feel about this?
2. How would Creditors (Directors) feel about pennies on pound settlement of debts?
3. Any outsider could buy the club from Administrator with superior offer than RRM. Bill Miller from Louisiana or such like?
No. I think the Directors writing off their loans to the club on the next accounts would be a great token of love for the club and a much needed morale booster right now. It would then allow the executive management to search for a new similar quantum of debt to underpin salaries.
There’s approx £14m in the soft loans ledger, none of which will be repaid in the forseeable future.
None of the concert party or board are multi millionaires.
Its not so much as writing off their loans to the club, more a case of waving them goodbye.
Will be astounded if they all step up to the plate again and provide the auditors written guarantees and proof of funds to cover the next 12 months trading losses.
Seen a hint that the operating losses to 30/6/17 are around £2m.
The inflated salaries for the newbies wont kick in till next financial year……… By that time King will be enjoying the fruits from improving his merchandise deal.
Read that in the papers so must be true!
Don’t believe this is what can happen. The club can basically engineer an Administration event and then roll on like before. the biggest creditors are likely to be the Directors so if they are willing to go along then it’s a no-brainer.
The bigger issue for them is the impact of doing it from their fans perspective. They will no longer have any reason to believe the lies they have been spoon fed. In addition, there is the impact to the SFA/SPFL. How do they spin the points deduction for example?
Last but not least, if this is being discussed as Phil is reporting, how on earth is the auditor going to sign off on the accounts? There is no way they will want the bad publicity and hit to their reputation by issuing accounts (even with a going concern warning) for them. But the reality is that the auditors themselves know that the game is almost up and may be why we still haven’t seen the accounts.
Previous year accounts were published on this week last year.
Perhaps future liabilities for Pedro and his management team has caused a short delay, although falling outside the 30/6/17 accounting period the auditors have a duty to report any significant events which may have occurred post year end.
developing entertainment, brilliant
What a great time to be a Tim, never ending comedy from the forces of darkness.
‘….largesse was now parked….’
Almost fell off my chair!!!??????
Speaking of which…
Calling all Celtic people in the Glasgow/Lanarkshire area…
If you’re thinking of buying a new car…or getting an M.O.T/ Service/or repair to your existing…
Please think carefully…before you Park it.
Thank you.
I always think twice before I Park it there Mike!!
Hail hail bud
Been thinking a long these lines for a while ,why do Celtic hire Parks coaches ,there has got to be another bus company available
Handshakes.
Sevco needs all the help it can get and Peter did miss that 10 mil a year when it was gone.
I’ve often wondered about this myself. It can only be that Park’s give the best service at the best price. Celtic must take the view that is all that matters and going elsewhere would be counter-productive, churlish and unprofessional.
Celtic are where they are because sober business people have run our club professionally.
😀 😀 😀
I thought all the gullibillies were on the south side ..?