I think it is fair to say that Celtic’s shambolic implosion on Tuesday has been very helpful to Mr David Cunningham King.
My information is that since then he has been re-visiting potential “soft investors” to ask them to reconsider their previous refusal to fund the good ship Sevco.
All of these well-heeled chaps with definite Ibrox affiliations had rebuffed his glib and shameless advances to come on board some time ago.
Now Mr King believes that the landscape has changed and that he can convince them that Celtic are ready to be toppled.
What is not in dispute is that Sevco needs money to continue operating and that any outside investor will need to be of the emotionally committed variety.
In a bizarre turn of events, I’m told that Mr King has actually been telling the truth to these potential investors about the need to get finance for Sevco.
For the day that’s in that is particularly apt.
As per the order of the court, the seven-year-old club will have to:
“….make a payment on account to SDIR in respect of those costs of £444,846.60 by 4.00 pm on 16 August 2019.”
That’s today.
I’m sure that it will be paid, but it is another chunk out of the season ticket money.
In the meantime, Mr King’s best hopes of redemption are to be found at the other end of the city.
There does seem to be some substance to the rumours that there was a free and frank exchange of views at the Lennoxtown training ground in the preparation for the match against CFR Cluj.
I can only hope that there wasn’t anything said that cannot be unsaid in terms of the impact on manager player relations.
The next couple of matches will tell whether or not that is the case.
I am also aware that Mr Desmond has been putting some very serious to his chief executive this week.
Yesterday I spoke with a veteran Desmond watcher who spends his working life in the International Financial Services Centre in Dublin.
Consequently, he is well placed to have an educated take on the main man at Celtic.
“I reckon that this situation will play out in one of two ways. One it will galvanise him to step in and become more directly involved. Or two, it will hasten his departure and he will make moves to sell his shareholding.”
The last time that Mr Desmond became hands-on with Celtic was in the immediate aftermath of the defeat to Sevco in the Scottish Cup semi-final in April 2016.
Consequently, the appointment of Ronny Deila’s was not a Heated Driveways Production.
Bringing in Neil Lennon on a permanent basis very was.
At the time I applauded the appointment with two caveats:
- That he be adequately resourced.
- That he be given full autonomy as a manager.
I am now starting to question whether or not (2) has been fulfilled.
Moreover, it doesn’t really serve the cause to issue a “circle the wagons” order when the entire wagon train is on fire and the horses have bolted.
Mr King must be pinching himself that he has been handed such a potentially game-changing chance by the smartest guy in the room.
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Tracy Hail Hail. Like yourself I too am totally mystified as to how Kennedy has lasted so long at CP, under how many different managers? What the hell do they see in this guy? The defence for the most part has been absolutely terrible under his watch, making the same mistakes time after time.
Kennedy is indeed the great survivor, and, while it would be uncharitable to wish anyone out of a job, the club must come first.
Billy, See all this ‘support your local team’ pish, it really does my nut in…if anyone does then fair play to them. However in general terms, we are born into support for a particular club.
As a Tim who stays in a Hun area, not a million miles from Ibrox Zoo, am I now supposed to support the my local team?
Anytime we move home, are we then expected to forsake our real team, and support the local team. Do you see how illogical your argument is? You’re not an unintelligent fella, so please mull that one over.
Just for the record, a fair percentage of the Celtic support has traditionally been made up of practicing Catholics…so that puts your ‘never go near a church’ argument to bed. Sorry to bring religion into it…however, you feckin’ well brought the subject up in the first place. So there. God Bless, Billy Boy. HH
Terence Nova, if I was a billionaire, taking over at CP would only be my 2nd move. I would gladly invest in Ibrox…but I would ensure death by a thousand cuts. First I would re-appoint Ould Pedro to the managers job. Then sit back and relax as they shoot down to the lowest league again. Then I would sell them to Tesco or the like but not before taking a wrecking ball to the whole ediface. Now that would be a laugh.
Who am I kidding…I would only need 3 numbers in Wednesday’s draw in order to take those feckers over. HH
Now there’s a thought magua…
Nice one.
Hail hail
Thanks James. Appreciate that. HH
Has Desmond ever actually given Celtic money that he didnt expect a return on? I don’t think he has.
All i see is an investor who has bought shares on the hope that Celtic got to the EPL and he would make a massive profit off the back of that.. That didn’t pan out for him so now he takes a healthy dividend on preference shares and gets to play the big man.
Looks to me as if the first sign of Celtic shares getting to his original buy price would see him sell up.
Sorry to sound like a Big Thicko From The Islands but can someone please explain the ‘ Heated-driveway’ refs to me. As a newbie to the site I want to join in the fun. Is this a dig at Lawell or Kennedy…or both? HH
Magus
I believe it refers to Peter Lawwell, who had a heated driveway installed at his home , at great expense, thankfully he had his Champions league bonus to fall back on at the time .
The last time Dermott Desmond got involved was the appointment of Rodgers.
Sorry Ted. Thought you meant Ryan Kent signing for the Huns. I agree that he is a very good player but I believe that the wingers we already possess are much better…if anything he would be a project for the future.
WTF is going on at Paradise when Scott Sinclair cannot get a game? The guy is quality. He can score goals for fun, can set up goals for others and most importantly he can RETAIN POSSESSION OF THE BALL. Maybe that’s why Lenny doesn’t like him. Sorry Neil, I would much rather see us retaining possession by playing the traditional Celtic short-passing game, than giving the ball away more often than not, and losing feckin’ daft goals in the process. Lenny had Hibs playing some fantastic fitba, while being excellent in possession…do we deserve less?
Rant over…it’s nearly beer o’clock.
Surely Ronny Deila’s appointment was EXACTLY a ‘Heated Driveways Production’ ?!?
I’ve said it before …and I’ll say it again…
If I was a Billionaire who had total power at Celtic FC….we wouldn’t be in this mess.
Man up or ship out Mr. Desmond.
The gap is closing because:
– Sevco are spending money they don’t have
– Celtic are not spending money that they do have.
I think there’s more to it than that sixtaeseven.
Sevco have definitely improved under the Liverpool Gobshite…there is no doubt about that.
I have watched a lot of their recent games…( My Grandpa always said…”Know your enemy.”) and I’d comment as follows…
They have confidence flowing through their team just now and that’s a big plus in football.
They play at a high tempo and are good at stopping teams building up from the back…This forces teams to end up playing high long balls…which is meat and drink for their two CB’s.
But before you think I’m praising them… ( that ain’t ever gonny happen)….let me add this.
They have not…imo…played a good team yet.
The standard of opposition has ranged from half decent at best… to absolute crap…so it will be interesting to see how they fare against a good footballing side.
September the first can’t come quick enough for me…
Bring it on !!
They have improved. Somebody in that backroom team knows their business. I am pretty sure it is not Gerrard. They still lost 3 goals to midgieland though and Macgregor saved them on at least 3 occasions. There is a defensive weakness there.
Who are the good team they’re going to play on the 1st September? It certainly isn’t Celtic!!
We’ll agree to disagree Joseph….Hail hail.
Ted, really. Ryan kent…there’s more chance of feckin’ Bruce Kent signing on at The Zoo aka Bigot-Dome. And we’re supposed to be the support that is paranoid and delusional…Aye Right.
Wee question Ted. Your first name wouldn’t happen to be Father, would it? Just curious, ye ken.
I admire your wit but this is hardly the time for it. Celtic are a shambles. When Edouard was signed on a permanent last summer there was a real feel good factor. John McGinn was expected to follow. What happened since Rodgers understandibly walked, has been a Celtic so badly run. And yes, I do believe Celtic should bring in Ryan Kent. Better to have him tear their defence apart rather then ours
Where the fuck did the cheats get the money for Andy King?
this is a complete joke
Perhaps a few pertinent question to Lawwell could be;
1) Why does my club even bother to compete in either the CL or EL…
if it has ZERO interest / ambition in actually trying to win either competition?
2) What is the main mission of the club?
If it is NOT to win every game and every competition we enter…
then – in football terms – the club is lacking ambition…
and sullies the high standards set in ’67… but is commercialised by the club in every way possible today.
We’re shackled by the league we play in, bob. We can’t afford to compete with the top clubs in Europe, sheesh we can’t even compete with clubs like Burnley or Sheff Utd in regards to transfer fees and wages. we play in a diddy league in a footballing backwater and unless that changes we have to be realistic and accept that if we do qualify for the CL then we’re going to more often than not be the whipping boys who get handsomely rewarded for our efforts.
That says it all mate….
Who has made Scottish football a diddy league then? Thats right the Celtic and Rangers fans who dont support their local teams because of the school they went to/church they dont go any where near so people like me from places like Paisley havent bothered with football since we gave up going to watch our local teams in our younger years because of the amount of people who leave their town to watch those two teams making it a waste of time supporting the local team or Scottish football. Why do you think that there are only around 150,000 in total who bother going to football in this country now. One team – or even one of two teams – keeping winning everything is totally destroying the sport. Everyone else in Scotland would like to see that back of not just Rangers but Celtic as well – two cheeks from the same arse. Note my surname is Irish Catholic but couldnt give a toss about either.
We don’t need to be able to afford to compete with the Burnleys and Sheffield Uniteds to get into the Champions League!
When was the last time the likes of them qualified?
It’s the Malmos, Maribors and Clujes we have to compete with.
These are all teams and countries with low incomes in low profile leagues.
With our income we should be beating teams like these that can’t compete financially with us.
That’s down to management and coaching – and I mean from boardroom to dressing room.
Bob was asking why we aren’t trying to WIN the CL or and EL so the first part of your comment is moot because you failed in the context of bob’s Q. The second part of your comment i kinda agree with…if we hire a 4th rate manager then we will get gubbed by teams like Cluj etc and we all should remember [take note, phil] the 4th rate manager we hired previously left us and went and managed those titans of world football Bolton Wanderers and he and he alone is why we are out on our arse.
Would be a fair enough comment if we at least attempted to improve the playing squad and build on the success of recent years.
Celtic are a business and it’s playing staff are it’s main assets and it’s as simple as this in any business:-
If you are not moving forward then you are going backwards.
Lawwell has sold the jerseys. Absolute disgrace to treat us like this.
That would be fair comment too if we hadn’t just spent 12 million and it would have been 15 million if it wasn’t for Turnbull’s dodgy knee. Now that is a big sum to spend for a team operating out of the Scottish league and probably even more so when you take the fact that due to brexit everyone in britain is living under a massive cloud of uncertainty…
That point of view is only credible if the money you are spending adds value!!
Oh the answer to that is fairly straightforward Bob
Chief Executive
Mr Lawwell’s service contract commenced on 25 October 2003.
It continues subject to twelve months’ notice by him to the Company
or by the Company to him. With effect from 1 July 2016, Mr Lawwell was entitled to a bonus not exceeding 20% of basic salary, determined by the Board having regard to applicable performance criteria and
such other factors and/or circumstances as the Board shall consider relevant. Mr Lawwell is also a member of the LTPIP scheme as noted above. In respect of the LTPIP, the Remuneration Committee was satisfied that the awards set out in the table below have been accrued for the benefit of Mr. Lawwell during the financial year to 30 June 2018.
Mr Lawwell served on the Professional Game Board of the Scottish Football Association (part of the year), the Board of the European Club Association and the Club Competition Committee and Professional Football Strategy Council of UEFA. No fee is payable for these posts.
Financial Director
Mr McKay’s service contract commenced on 1 January 2016, when he joined the Board as Financial Director. It continues subject to six months’ notice by him to the Company or by the Company to him. Mr McKay is entitled to a maximum payment under the Company’s bonus scheme of 50% of basic salary, if all performance conditions are satisfied.
Mr McKay participates in the ELTIP. The Remuneration Committee was satisfied that Mr McKay had satisfied each of the vesting criteria for the financial year to 30 June 2018. Accordingly, the awards set out in the table below have vested for the benefit of Mr. McKay, during the financial year to 30 June 2018. Payment remains subject to the operation of the ELTIP conditions.
Non-executive Directors
Individual letters govern the appointments of the Chairman and the non-executive Directors. Typically, non-executive Directors are appointed for an initial period of three years and are expected to serve for at least two three-year terms but appointments may be extended beyond that at the discretion of the Board, and subject to re-appointment by shareholders in accordance with the Articles of Association. These appointments are terminable immediately on written notice, without requirement for payment of compensation.
Unexpired periods of service for non-executive Directors as at 30 June 2018:
The post of Chair of the Audit Committee carries an additional fee of £5,000 per year, reflecting the significant additional responsibility and workload attached to that post.
The non-executive Directors have no personal financial interest
other than as shareholders in some cases. They do not participate
in any bonus scheme, long term incentive plan, share option or other profit schemes. All Directors are entitled to one seat in the Presidential Box without charge for each home match, to assist them in performing their duties.
The Chairman of the Committee will be available to answer questions concerning Directors’ remuneration at the Company’s Annual General Meeting.
Mr Lawwell original Bonus became part of his Annual Salary in 2016.
Meaning his Bonus was guaranteed irrespective of Champions League participation.
His new Bonus explained above is based solely on Champions League participation meaning he effectively now receives a double Bonus on top.
Like he did in 2018 when he received £2,296,000 in ELTIP payment
Pages 25 and 26 of the 2018 Annual Report
http://cdn.celticfc.net/assets/downloads/SE_notifications/CelticPLC_June2018_Annual_Report.pdf
Lennon is getting pelters that Rodgers escaped last season when exiting to a piss poor Greek side.
Yes Calmac at left back was a monumental mistake but we played some great stuff at the start of the second half to get our noses in front only for Broonie and Bain to gift them 2 goals.
Not sure where we will go from here with CL riches gone but prepared to wait and see how we react in the Europa play offs.
I agree, aye it was a bad result and performance but every team gets them. Its just sh!te luck ours came in one of the biggest games.
Celtic fans can be the most loyal in the world. They can also be the quickest to play the blame game. Not every bad result is someone’s fault. Not every bad result means someone’s head should roll. The other guys are trying as well y’know. No one wins every game.
The worst possible reaction to adversity in any walk of life is a knee-jerk one.
Rangers have signed an entire team. I have no idea how much the latest addition is on but I doubt it is less than 10k a week and it may be more – they are clearly losing money, substantial sums. But this latest addition is a player for which there is no urgent need. Clearly there is confidence that someone is going to carry on covering those losses for the foreseeable. Their next games against Legia will be vital but the latter are some way removed from the team which demolished us years back
Tuesday night’s fiasco lies solely on Neil Lennon…he had the resources to beat Cluj and failed spectacularly because he is out of his depth and if caveat 2 is your excuse for him, phil, then riddle me this, if he did not sign or agree to the signings of the 10 million that he benched and if he dosn’t have full autonomy then why was he not told/ordered to play the 10 million that he benched?
its “well known” that the 7 million quid bench warmer was on “Celtics radar ” for a long time… lenny has only recently dropped himself in this “heated driveway” fiasco !
If things go pear shaped this season, which I’m still hopeful it wont, Lennon will be gone and I hope whoever gets the gig tells John Kennedy to do one. I don’t understand why that guy is still our defensive coach under 3 managers (photo of lawell sh*gging his heated driveway as security). If anything Lennon needs his own backroom staff and I can’t fathom why he hasn’t. Anyway Hail Hail
If Ryan Kent returns to SG and if their team win on September 1st, forget how ecstatic their fans will be in the Broomloan Rd Stand, I would fully expect them to charge on to the title. I hope I am wrong. I surely do
ted
How did you feel when your old club died in 2012?
I totally agree with you Chris. Rangers did die in 2012. However, they would argue that the company died in 2012 and that a new company founded in 2012 now operates the club founded in 1872
And exactly what was the process for “founding” and establishing a club?
Yes but that Club Incorporated In 1899 as a Registered Company.
Which as we all know spectacularly imploded in 2012.
I agree with you. They would argue that the club and company are separate
Ted I think you might be right, they will be a force this season but some won’t or can’t see it for the green tinted spectacles. They are scoring goals and have a defense that is more solid than ours
Their defence has yet to be tested by a seriously good attacking team. Although I must add our own defence is so porous the Sept1st game could finish 5-5.
Any more information on who exchanged views?
Ironic that sevco are celebrating Celtics failure to qualify for champions league. The very amount Sevco need today for SDIR would have been the amount they would have received for Celtic qualifying for champions league by way of UEFA solidarity payments. Laugh it up silly billys.
I’m sick to the back teeth reading about they have no money and are going to implode. Somehow they keep signing players while we fanny about hagling over small change…… Embarrassing now!!!
Tracy the only club imploding is ours, Neil Lennon can look up at big Pete and scratch his head for all he likes. At 3-2 up he should have shut up shop as the warning come after being 2-1 up. Gross bad tactical decisions and team selection. Talk of signing another winger ???
SG is building a team for silverware.
We are building a team where the manager don’t like the players and the players don’t like him.
It’s beginning to show he’s out his depth. Taxi for Lennon and Kennedy.
Our defence was embarrassing
John you´re right, but it feels like we´re stagnating as a club just hoping Sports Direct does more damage to them. This season more than most we´re concentrating too much on them. I love Lenny but he´s the wrong appointment in this critical juncture of 10 in a row. Realistically though who else could we get. I´m with you on taxi for Kennedy don´t know what he brings to the party, certainly not defensive knowledge anyway. If we get the right result in September the whole mood will change again, but honestly i´m dreading that game at the moment.