A hat tip to football finance expert David Low.
He keeps an eye on this stuff, so I don’t have to at the moment.
Dear reader, it really is quite something when you observe just how much the Sevco High Command has ploughed into the loss-making operation at Ibrox.
Before the Off License Putsch in 2015, Mr King said at a presser that he wanted “soft investment”.
We, he really scored there!
However, I would safely say that he is currently less than Zen-like about this current largesse from the Blue Room.
Why?
Well, with each scattering of RIFC confetti because it means that the value of his own shareholding is diluted.
Consequently, he will get less money when he can eventually offload them onto those fine fellows at Club 1872.
He still has his loan, and by the time it is paid will be around £10m.
Nice one, Dave.
The one thing that isn’t clear is what is the security on his outstanding loan to Sevco.
I am aware that anytime I have mentioned this, it causes some angst in Blue Room circles.
That means there is a story there.
However, the Sevco High Command know that the Shills in the Stenography Corps will observe the usual succulent protocols.
It stretches it a bit to believe that Mr King would lend such a mighty sum on an unsecured basis.
Of course, it is a sad fact of life that the law of unforeseen consequences is usually a factor.
Consequently, the amazing financial shitshow across the city had a dangerously soporific effect on Heated Driveway Productions.
With the keen eye of an accountant, the smartest guy in the Parkhead boardroom reckoned that keeping just a tiny bit in front of Sevco would make the bottom line look dandy.
The Rodgers interregnum changed that for two seasons and the policy of Managed Decline was put on the shelf.
What the Celtic support enjoyed in those years was the full realisation of what the summer of 2012 offered, full-spectrum dominance in the domestic sphere.
The death of Rangers was a historic event on Planet Fitba, and it presented a massive opportunity to Celtic, which was discarded on the heated driveway.
It was not easy to lose such an unassailable position to the basket of assets.
Dear reader, it took lots and lots of hubris and complacency.
It would be unfair and inaccurate it lay this entirely at the door of Celtic’s omnipotent CEO. The chaps in the Parkhead Boardroom are entrusted by the shareholders to make sure that their interests are being safeguarded.
However, the length of the CEO’s tenure meant that some of the directors perhaps got a bit too comfortable with the place settings. If it were down to me I would have them all tested for Cronyvirus.
I have written here on many occasions that the only thing that can stop Celtic is Celtic, and so it has proved to be.
The cup tie was due to be played tomorrow but has been moved to Sunday.
Apparently, one of Schleswig-Holstein-Sonderburg-Glucksburg clan is being buried in England.
In fairness, the Brits do grovelling really well.
Here are two examples that, as an Irish Republican, I found particularly toe-curling.
I’ve always found the “Phil the Greek” jibe to be rather wide of the mark. Yes, he was born on the Greek island of Corfu in 1921. However, on both sides of the house, he was an ethnic German. Just like his cousin, who he later married.
For the avoidance of doubt, your birthplace does not always define your ethnicity or nationality.
For example, this Irishman was born in India.
I know about this stuff…
Also as a Mayo fan, I’ve learned the importance of standing quietly as a funeral passes by, so Sunday it is then, lads.
That Celtic go into the match, much the weaker team is really quite an achievement and not one that was created at Ibrox.
If the game is in the balance then it could come down to those split-second decisions.
Stay safe.
No Comment.
Dear reader, I’m aware that there is still a steady flow of comments coming into the site. However, a deadline is a deadline and the manuscript is nearly there.
A buddy recently asked me if I used an algorithm to weed out abusive stuff.
I told him “I am the algorithm!”
Rather time-consuming at the best of times.
Normal service will probably be resumed at the start of next month.
In Celtic’s second 9-in-row, several of which were achieved without any competition from a team playing it of Ibrox, only twice did Celtic manage to get more points than “rangers” already have this season. You are way too dismissive of their achievements on a meagre budget and a squad with limited talent.
If you look at their results in Europe for the past few years you could see it was possible, but typical Celtic myopia, from fans and board, refused to recognise Gerard’s team as genuine competition. This season’s embarrassment is the result.
Phil The Greek ‘ is a running joke used by those who are fully aware of his true German background.
Surely you are the algoritim!, 😄😄, stay safe