Club 1872 loan

My interest was piqued yesterday by this dignified post.

I then checked with a well-placed source and this is what I was told:

“That blog post is essentially accurate.

“A facility to borrow two million has been put in place and, as far as I know, the members of Club 1872 are not aware of this at the moment.”

Presumably, this is all in order in terms of the constitution of that Churchillian organisation.

No need for any of that messy EGM stuff.

My source did tell me of the identity of the high street bank that has agreed the finance, but I agreed it withhold this information in order to protect the source’s identity.

Moreover, he stated to me that it could be that the loan was being financed by the monthly subventions of the members of Club 1872.

However, I told him that such move would be undignified and therefore, I discounted such a possibility.

I must say though, those Club 1872 chaps are very generous and trusting.

For the avoidance of doubt, Club 1872 is not a loss-making business, but they do have a credit line from a bank.

In a parallel universe, Peter Lawwell has just told the Association of Celtic supporters and the Celtic Graves Society that the money they take in from their members is now going to keep the Parkhead club afloat.

 

Addendum

It has been brought to my attention that the post that I alluded to has now been taken down.

However, it was there, but it has subsequently been replaced by a heartfelt statement concerning child protection.

Here is another post from June 8th which also references the behaviour of Club 1872.

Discover Phil’s dramatic play Rebellion