Dear Mr Bankier

630
154528

Readers may be aware that the group Fans Without Scarves have written to Celtic urging them to seek a review of Scottish football (See here)
On the back of that laudible effort, I have been persuaded to publish a letter I sent to that same board over a week ago (on 8 November)
At the time of publication, I have received no acknowledgment.  Some organisations are like that, of course. (I put it down to the inferior quality of the social upbringing of their boards rather than concern for their postage bill)

The following is the text of that communication;

Mr I Bankier,
Chairman,
Celtic Football Club plc
Celtic Park, Glasgow G40 3RE

08/11/2018

Dear Mr Bankier,

“Resolution 12”

You will, of course, recall as clearly as I that, at the Celtic plc AGM in 2013, the Resolution bearing number 12 on the agenda was not formally debated and voted upon, but was adjourned indefinitely.

I understand that over the intervening years (!) a number of conversations and discussions have taken place between the Board and the immediate proposers of Resolution 12 (among whom, I should perhaps say, I was not numbered in 2013 and am not now numbered).

As an eventual outcome of those discussions and conversations, as again you will recall, Celtic plc in September 2017, shortly before that year’s AGM, entrusted to the Scottish Football Association [SFA] the task of undertaking a thorough investigation into the circumstances under which the Union of European Football Associations [UEFA] granted a UEFA-competitions licence to the then Rangers Football Club in 2011.

Unfathomably, it was not until May of this year that the Compliance Officer of the SFA referred the matter to the Judicial Panel Disciplinary Tribunal [JPDT]

In that same month of May 2018, evidence emerged that appeared to cast serious doubts on the legitimacy of the award of the UEFA licence to Rangers Football Club in 2011.

In late June 2018, and following careful consideration of that evidence, the legal representative of what is known as the ‘Res.12 Group’ informed both the SFA and Celtic plc of these doubts, passing to those bodies copies of the evidence which gave rise to those doubts.

In July 2018, The Rangers Football Club Ltd challenged the reference to the JPDT, arguing that the appropriate authority to which any such reference ought to have been made is the Court of Arbitration for Sport [CAS]

This challenge has apparently and inexplicably frozen all action by the JPDT.

To my eye, as a small shareholder, it appears that the Board of Celtic plc have been and continue to be at the very least dilatory and lukewarm if not yet totally remiss in looking after the interests of their shareholders.

It is now November: the reference by Celtic plc to the SFA was made over one year ago. Even by reference to the civil Courts let alone to the internal disciplinary body of a not very large sports governance body such as the SFA, that is an unconscionably long time for a reference not to have been acted upon. I now feel obliged to ask the following questions:

  1. Have the Celtic Board pressed the SFA to say what action they have taken vis-vis the challengemade to the legal powers of the JPDT to investigate the circumstances surrounding the award of the licence ?
  2. If they have not done so, would they care to give their reasons why not?
  3. If the response from the SFA was that the matter of the jurisdiction of the JPDT has been referred elsewhere (to UEFA or to the CAS), are the Celtic Board content with that response and prepared to take such subsequent monitoring action as may be necessary?
  4. If the SFA have not referred the question of jurisdiction elsewhere, have the Celtic Board ascertained at what stage the JPDT’s investigation is at, or even whether it has yet begun?
  5. If the Board have been told that the JPDT has stalled, perhaps indefinitely, what does the Celtic Board propose doing to ensure that the investigation that they were assured would be undertaken will indeed be undertaken by the JPDT as a matter of priority, with a timetable for completion?
  6. Does the Celtic Board actually trust the SFA/JPDT to investigate thoroughly, honestly and deliver true judgement? Is it not time that a vote was taken to pass ‘Res 12’, based on what is now known by Celtic plc, and the matter formally referred by Celtic plc to UEFA to investigate as thoroughly as was done in the recently reported cases of the Albanian, Serbian and Kazakhstan national associations?

The Celtic Board must keep in mind their obligations to shareholders. This would be especially so where there may be grounds for suspecting chicanery on the part of others, in consequence of which Celtic plc might have been denied an actual, defined sum of money and the opportunity potentially to compete for much more in ‘prize’ money.

In such circumstances it would not be at all for the Board on its own authority simply to ignore the possibility of chicanery and dismiss the matter.

There are sufficient grounds for me to believe that the award of a UEFA licence to the then Rangers Football Club in 2011 may have been made in the knowledge that that club was absolutely not entitled to that award.

In my opinion, the granting of a UEFA licence to the then Rangers FC in 2011 is not merely a ‘sporting’ matter, but one which might conceivably, in the absence of acceptable responses from the SFA/JPDT, require reference to the Crown Office and Procurator Fiscal Service.

The failure to date of Celtic plc to insist that the SFA take urgent action to fulfil the commitment they made that a thorough, independent investigation would be undertaken urges me to make such reference on my own initiative as a citizen who suspects that a crime may have been committed.

However, before taking such a step, I think I will await your replies to the questions above if you would be good enough to provide such.

Yours sincerely,

name and address

630 COMMENTS

1 7 8 9
 

  1. EJ
    Not so sure I’m as confident as you that DK will comply on time. All actors in this pantomime have displayed special skills when it comes to finding long grass with the ball. I expect further procrastination.

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  2. BP

    i think the time for procrastination has passed. It was one thing to play the daft laddie. We now have specific date requirements which I would imagine are best met rather than coming up with an excuse v

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  3. Big Pink 13th December 2018 at 11:39

    EJ
    Not so sure I’m as confident as you that DK will comply on time. All actors in this pantomime have displayed special skills when it comes to finding long grass with the ball. I expect further procrastination.

    ====================================

    At this stage there is no reason not to comply. The appointments are at an early stage in the process, and something that would have been arranged in early course in a normal takeover situation. Where I think King may procrastinate is on the amount of funds required to be lodged with the "cash confirmer" and the process of getting exchange control approval.

    There was a clue to his approach in the Court of Session, where King would only complete the bare minimum in terms of the details requested on an exchange control application form. That in turn would generate questions from the "approved dealer", seeking more information on the nature of the investment and expected returns. I can see that process, together with delays in correspondence on agreeing the cash amount, being extended to such an extent that King would seek an additional time from the Court to allow him to complete those tasks.

    However, I'd didn't see anything from Lady Wolffe's demeanour that she would be receptive to further delay on something that was discussed in Court. She made it very clear that he would be back in Court pdq if he didn't comply with his undertakings, without good reason. 

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  4. easyJambo 13th December 2018 at 12:36

     

    Thanks for the update to this EJ. Can you say if the cash confirmer identity is something that will be announced publicly or are we to assume compliance ?

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  5. gunnerb 13th December 2018 at 21:59

    easyJambo 13th December 2018 at 12:36

    Thanks for the update to this EJ. Can you say if the cash confirmer identity is something that will be announced publicly or are we to assume compliance ?

    ======================================

    I'd hope that it would be announced on the website. I seen to recall a statement coming out from the RIFC independent directors (in early April) saying how the offer would be funded, although raising doubts about the funding as it was dependent on a special dividend being paid by Micromega. Perhaps the RIFC directors will provide an update.

    The likeliest candidate will be Investec, going by what was said in court, as they have a presence in London and they have sufficient profile to keep the TOP onside.

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  6. Big Pink 13th December 2018 at 11:28

    '…WRT the main post, I assume JC has received no reply?'

    _________________________

    Sadly, I am not in apposition to say! 

    No reply had been received by 3rd December when I left on my travels, and , while  a very good neighbour and friend is clearing my letter-box while I'm away, I didn't leave any request to be notified if any envelope bearing  Celtic plc logo were to be received!

    But, of course, whether Bankier replies to me or not, there must be a time when a motion adjourned at an AGM has to be dealt with by a vote at some subsequent AGM.

    Directors simply cannot be allowed to dodge uncomfortable subjects for ever, else they could get away with any dirty business!

    On a very simple personal basis, I was brought up to expect a certain standard of personal and commercial behaviour from company directors. Mr Bankier no doubt ensures that the heels of his shoes are polished and that he wears a clean shirt to work;

    but in failing to arrange for some kind of timeous acknowledgement to personally addressed correspondence, he has proved himself to be fairly plebeian, and little above barra-boy level as a commercial figure. What school did he go to? I'm sure his form master would be disappointed!

     

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  7. Portbhoy

    Nae luck Celtic, they were just the better team on the night.

    ———————————————————————

    You may want to review the first part of that sentence?

     

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  8. bordersdon 14th December 2018 at 09:13

    Portbhoy

    Nae luck Celtic, they were just the better team on the night.

    ———————————————————————

    You may want to review the first part of that sentence?

    ————————————————————————-

    And maybe delete the last 3 words?

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  9. Seeing that there's not much happening on the blog today, can I go a little off topic as I sit here savouring a Fat Yak [tastes as good as I remember]?

    This afternoon  , while down the local park with the granweans, I fell into conversation with another pair of grandparents, similarly minding their grandchild. 

    It turned out that he had been a linesman , and had been running the line in games that Frank Haffey had played in (in whatever Aussie league that was) and had on one occasion at least had to flag the referee when Haffey repeatedly crossed the 18 yard line holding the ball.

    It also turned out that he had been an acquaintance of Willie Wallace, and I was able to tell him that 4 years ago I had had several pints with Wispie in O'Malley's bar in Brisbane, and that Willie had been in Glasgow not that many weeks ago.

    The chap I was talking to was a Londoner who had emigrated to Oz in 1967, and has a son and grandchildren now domiciled in England, as well as the other grandchild he and his wife were with today.

    It further turned out that that granddaughter there in the park was the primary school sixth year who was my granddaughter's school 'buddy' when she was in Prep last year.

    It is these little serendipities that add to one's life experiences in a wonderfully positive way!

     

     

     

     

     

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  10. John Clark 14 December 2018 @ 1204

    Frank Haffey, a real blast from the past.

    I recall in Primary School our learned schoolteacher trying very hard to impart a modicum of culture and education to a group of lads whose only interest was football. I recall vividly his question to the class “who stops 1 in 3” to which he received the response “ my dad says it’s Frank Haffey”. How were we to know he was referencing the Ancient Mariner. The thought still makes me smile after all this time. Thanks for that JC

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  11. Haudthebus 14th December 2018 at 13:20

    Frank Haffey, a real blast from the past.

    ———————————————————————-

    April 1961. After the match at Wembley when asked the time a wag said it was 9 past Haffey!!

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  12. Haudthebus 14th December 2018 at 13:20

    '..How were we to know he was referencing the Ancient Mariner.'

    ____________________________________

    One of my favourite poems.

    But I remember struggling with 'barred sun' . I had never seen a 'barred sun' over the skies of east Glasgow, or anywhere else, and I don't think my teacher had, either! 

    Years later, when my own first child was about four, I came across a magnificently  illustrated children's version which showed exactly what a 'barred sun' looks like. 

    I have over the years tried to remember that book, which I had borrowed from Dublin City libraries in about 1976 or so, when I was stationed there.

     

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  13. borderson,

    You seem to pick up on sentences,, … your attempt at the Frank Haffey joke was back to front,

    9 past Haffey?????? …. it was Haffey past 9, …. at least we're quite savvy doon here in the Port.

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  14. JC – Ancient Mariner…

    I wondered about the 'barred sun', being unable to recall any personal sightings or reading about such a solar event.

    I found the following explanation of the poetic lines…

    "The Sailors at first take great joy in the Mariner’s announcement that another ship is approaching, since they believe that they are going to be saved. But that joy quickly turns to horror, as they begin to question how the ship could possibly be approaching without a breeze or tide. As the ship approaches close it seems to be the skeleton of a ship, creating a “dungeon-grate,” barred effect as it passes in front of the red setting sun. "

     

     

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  15. There is still no new notice on the RIFC website as to whether or not King has appointed a "cash confirmer" and a "legal advisor".  We may not be advised in any event.

    I did have a look at the latest shareholding disclosures though. One that caught my eye was that of River & Mercantile.  When the offer was first announced, their disclosure on 14 March 2017 indicated that they  held 3,523,059 shares (4.32%)

    They have subsequently posted two new disclosures dated 5 December 2018 which showed that they had sold 700,000 on 27 November 2018 and 400,000 on 4 December 2018 and that their holding was now down to 2,123,059 (1.47% following the share placing).  The difference from 2017 is 1,400,000, so I assume that the other missing 300,000 were sold at an earlier date. The sales were at 19.5p.

    I then had a look at the JP Jenkins site which showed a number of trades all at 20p (no dates or other info given)

    (400,000, 400,000),   (700,000, 700,000),   106,222,   62,222,   100,000,  200,000

    The bracketed pairs looked like the matched bargains for the two notified R&M sales. The next two also appear to be linked with the "222" figure. The other 100,000 and 200,000 could be the "missing" R&M 300,000.

    Why would R&M sell now.  Perhaps they think that King has gerrymandered a situation where he won't need to finalise the offer, because the 50% threshold won't be met. However, it seems they still wanted out so were prepared to sell at 19.5p a share.  That would need a matched buyer, so who has bought their shares. There may be a new disclosure issued. If so, then we may find out if it is Club 1872 or one of the other placees.

     

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  16. easyJambo 14th December 2018 at 17:01

     

    So it could be that Club1872 have had to fork out more of their hard earned to bale King out. What a Real Rangers Man he is. And what mugs they are if this is the case.

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  17. Timtim 14th December 2018 at 16:20
    2 0 Rate This

    ” provide a public cash confirmation statement ”

    https://media.rangers.co.uk/uploads/2018/12/20181130-King-Undertaking.pdf

    It reads to me that King has until 5pm today to make a public statement re the cash confirmer and legal advisor.
    ………………….
    It is Christmas time, so everything stays open a little later than usual. It is the Christmas rush this time of year that makes one’s mind wander on other matters and makes one forgetful.

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  18. Ex Ludo 14th December 2018 at 19:00
    5 2 Rate This

    https://www.thecourier.co.uk/fp/opinion/jim-spence/505460/jim-spence-changing-football-club-ownership-model/

    Since it might be a long wait for a statement here’s a piece from the pen of one J Spence to while away the time.
    ……………….
    I suspect that many football clubs in the not too distant future will be part of multi ownership arrangements, with the larger clubs having ownership of, or a share in, several clubs of different sizes.

    Whether Scotland becomes part of such a new football landscape may become an intriguing and a very vexed question, for fans who see their club as integral to their sense of community.

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  19. Brazilian premier league soccer club Atletico Mineiro has launched a fan token dubbed “GaloCoin,” Cointelegraph Brazil reports Friday, Dec. 14.

    The GaloCoin is named after Atletico’s mascot, a rooster (“galo” in Portuguese). It is based on Footcoin — a platform that allows to launch utility tokens on the Ethereum blockchain. The GaloCoin is tied to the national fiat currency exchange rate and is equal to one Brazilian real.

    Atletico’s token will allow fans to purchase game tickets, official apparel, as well as participate in discount programs. To use the club’s cryptocurrency token, one has to buy at least 50 GaloCoins (equivalent to approximately $13).

    Utility tokens are steadily increasing in popularity among soccer teams.
    …………….
    The changing face of football.
    sorry i had to split those last two posts.

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  20. https://www.heraldscotland.com/news/17298555.businessman-who-attempted-to-buy-rangers-says-club-has-nothing-to-worry-about-despite-reports-of-22m-debts/
    …………..
    Mr McColl, who heads the Clyde Blowers Capital industrial investment firm told The Evening Times: “I don’t think there is any concern there. As they improve their earning capacity is going to go up, if they can get further in Europe each year.

    “It is well-managed now – it wasn’t before when it went through that tough time. It is very well-managed now I think.”
    …………….
    I think puff piece.

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  21. easyJambo 14th December 2018 at 17:01

    There is still no new notice on the RIFC website as to whether or not King has appointed a "cash confirmer" and a "legal advisor"…

    ====================

    EJ, and I thought King was the tyrant!

    You've only given the chancer one minute past the deadline…  😉

    I'm sure there is a perfectly rational explanation for King's tardiness;

    As 'Rangers Chairman' he had expected cash confirmers and lawyers to deferentially approach him for his business.

    T'internet was down in his SA neighbourhood.

    His dog ate his carefully prepared statement.

    WATP!

    etc…

    King and Compliance are strangers… always have been, always will be… IMO.

     

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  22. Seen a few YouTube videos of dodgy, drunken singing by the bears in Vienna streets.

    But, no reports of trouble.

    Did they – relatively speaking – behave themselves then?

    Or has it just not been reported by the SMSM?

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  23. paddy malarkey 21.15

    In the interests of balance i feel it should be known that the objects mentioned in the pro Rangers BBC article were in fact scrunched up paper balls from the pre-match display and were aimed at the idiot who entered the field of play in a show of anger at the individual concerned.

    As far as i'm aware there was no-one else involved so not sure why the pro Rangers  BBC mention "invasions" and "supporters" when only one person was involved. 

    Sick of their bias towards us.  

     

     

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  24. slimjim
    14th December 2018 at 22:13
    1 27 Rate This

    paddy malarkey 21.15

    In the interests of balance i feel it should be known that the objects mentioned in the pro Rangers BBC article were in fact scrunched up paper balls from the pre-match display and were aimed at the idiot who entered the field of play in a show of anger at the individual concerned.

    As far as i’m aware there was no-one else involved so not sure why the pro Rangers BBC mention “invasions” and “supporters” when only one person was involved.

    Sick of their bias towards us.

    …………………….

    Eh….?

    The BBC report is entirely factual. No opinion or commentary whatsoever was made.

    The words you seem to find objectionable are not the BBC’s, they’re in the charges as uefa set them out.

    Should the BBC not report on the fine levied against your club?

    Or perhaps you would prefer it to use alternative facts to explain why your club is being fined?

    If they had tried to downplay the moronic behaviour of those involved – as you have just done – we would quite rightly condemn the writer.

    That the writer has not added commentary to condemn those morons, is sad if not completely unsurprising.

    That the writer does not report on what the club is doing to identify the perpetrators, might also be wondered at.

    Any so called fan of any club who enters the field of play or throws objects within the ground should automatically be condemned.

    Read the article again.

    Complaining that this particular report – lacking in any critical commentary whatsoever – indicates some sort of bias against your club, simply does you no favours.

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  25. Following me looking up the shareholdings in the club regarding the required TOP offer, I happened to look at the latest share price of Sebata Holdings (the new name of Micromega).

    The company had been trading at around 10 Rand a share about a year ago. It then dropped following the special dividend that was paid after the NOSA subsidiary was sold off, but has continued to fall in value since then.  The latest share price quoted for Sebata Holdings was 3.5 Rand. At that level King's (family trust's) 63% investment in the company has dropped by almost two thirds in the last 12 months, leaving the value of his investment as just £14m at the current exchange rates.

    I'm sure that he still has a fair amount of cash stashed away in offshore trusts, but his primary (only?) SA investment has plummeted in value.

    He may have earned around £13m from his dividend back in April, but his wealth will have been reduced significantly with the latest share movements, which would put his ability to fund future investment in TRFC, and funding of the TOP offer, in jeopardy.  

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  26. Hirsuit Pursuit 00.18

    In the past the reporting of similar charges by UEFA have been qualified with either a more detailed account of the incident or/and a representative of the club having their say.

    Despite Steven Gerrard making his opinion clear the BBC chose not to include this.

    At no time did i "downplay the moronic behaviour of those involved". I referred to the one person who entered the field of play as an "idiot".but added that the "objects" thrown at him were in fact pieces of paper which was childish and has cost the club financially.

    Don't know about you but i would rather get hit by a paper ball than a coin.

     

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  27. easyJambo 15th December 2018 at 02:03

     

    Following me looking up the shareholdings in the club regarding the required TOP offer, I happened to look at the latest share price of Sebata Holdings (the new name of Micromega). The company had been trading at around 10 Rand a share about a year ago. It then dropped following the special dividend that was paid after the NOSA subsidiary was sold off, but has continued to fall in value since then. The latest share price quoted for Sebata Holdings was 3.5 Rand. At that level King's (family trust's) 63% investment in the company has dropped by almost two thirds in the last 12 months, leaving the value of his investment as just £14m at the current exchange rates. I'm sure that he still has a fair amount of cash stashed away in offshore trusts, but his primary (only?) SA investment has plummeted in value. He may have earned around £13m from his dividend back in April, but his wealth will have been reduced significantly with the latest share movements, which would put his ability to fund future investment in TRFC, and funding of the TOP offer, in jeopardy.

    ____________

     

    As ever EJ, your research is second to none, saving us all the mighty effort. You shame the SMSM.

     

    Unfortunately I don't think the ruling enforces King to issue a statement at this time, rather it states that King must instruct a cash confirmer by this date to do all such things as are required to provide a public statement, with the date for the public statement not stipulated. Hopefully I am wrong and this lack of a statement indicates his failure to comply – I'd imagine a cash confirmer would need sight of £19m of liquid funds, or, at least, proof that King could, without question, have that liquid amount available within the required timescale. I suspect that a cash confirmer is putting their reputation on the line whenever they accept this type of position and will want to be as definite as they can be. If, as EJ has discovered, King's SA based investments are somewhat diminished, and not liquid, he may well be having difficulty even at this first stage of compliance (actually stage 101indecision). 

     

    It could be some time before we know whether or not King has complied with yesterday's deadline as, if no statement is made by King/RIFC, we will have to await a court issued one.

     

     

    I, David Cunningham King, the Respondent, hereby undertake to the Court to take the following actions, or procure that they are taken, in each case by the time specified: 1. Take all such steps as are required to instruct a third party cash confirmer in the United Kingdom (the “Cash Confirmer”) that is considered appropriate by the Panel and confirmed as such by the Panel in writing, as soon as practicable and in any event by no later than 17:30GMT on 14 December 2018, being the date that is two weeks from the date of this undertaking, to do all such things as are required in order to provide a public cash confirmation statement for the purpose of assisting Laird Investments (Pty) Limited (“Laird”) to make an offer for the entire issued share capital of Rangers International Football Club Plc (“Rangers”) on a fully diluted basis (or on such other basis as is agreed in writing by the Panel and the Cash Confirmer) (“the Offer”) including, if required, transferring all such funds as are required into the United Kingdom.

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  28. ClusterOne@20.32 yesterday.

    Interesting re the virtual currency. I think we’re half way there already in a general sense through using contactless payment. I have a friend whose son lives and works in Sweden and the use of cash over there is almost nil. Of course the other side of that coin is that begging in the street has stopped because no-one carries cash. Looks to me like more people are being marginalised and not just football supporters.

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  29. slimjim 15th December 2018 at 10:55
    the “objects” thrown at him were in fact pieces of paper which was childish and has cost the club financially.
    …………….
    I have seen the last few ibrox tifo’s no wonder they tried to get rid of the piece’s of paper quickly, should have just released a statement.
    “We acknowledge that a tiny minority of Rangers fans also encroached on the pitch but only after having been faced with prolonged and severe provocation and in order to protect our players and officials who were being visibly attacked in front of them.

    “Any club’s supporters would have done the same. This distressing and deeply disturbing episode would never have happened.
    If the union bears could get a half decent display going.
    Something along those lines, or has that been used before.

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  30. Ex Ludo 15th December 2018 at 11:34
    0 0 Rate This

    ClusterOne@20.32 yesterday.

    Interesting re the virtual currency.
    ………………..
    Not a crossbar challenge kind of way to make money but what if say celtic released a £1 coin that could be bought for £1. How many would be sold and kept just for a keepsake.
    would it all be worth the effort?

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  31.  slimjim 15th December 2018 at 10:55

    What about the bottle ? I think that's what was of interest to UEFA .

    From the Bears Den .

     

     

    Arsehole 1, arsehole 2, fecking idiots

    By j1mgg, December 5 in The Bears'

     

     

     

    Posted December 5

    These are the two that have caused our club to be bought up on two charges in front of uefa, hope they both get lifetime bans.

    How fucking stupid must you be to throw a glass bottle at someone.

    Changed to suit the snowflakes who think individuals are above the club.

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  32. bordersdon 14th December 2018 at 11:56

    Portbhoy

    Nae luck Celtic, they were just the better team on the night.

    ———————————————————————

    You may want to review the first part of that sentence?

    ————————————————————————-

    And maybe delete the last 3 words?

    ============================================

    Some things just have to be said about Celtic's so called 'luck' the other night. 

    Firstly there can be no doubt they were beaten by a far better side, who managed to take 18 points out of 18 from the group. Ahh…the group, the mini league where each team gets six games, and where Celtic amassed 9 points compared to Leipzig's 7. The same Leipzig who are fourth in one of the world's best leagues, only two points behind Bayern Munich. That's the way a league works, and it is ridiculous to suggest Celtic qualifying was simply down to luck. However if you want to think that way carry on, because as the great Jock Stein once said 'people say we're lucky…well in that case it's better to be lucky than good!’

     

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  33. @ClusterOne

    The cashless society and cryptocurrencies in general are a bankers dream which is why they should be avoided like the plague. In the past 100 years the banks have actively removed all value from our monetary system to allow them to create currency at will and without any checks or balances or restriction.

    In 1918 our coinage was 92.5% silver (sterling silver) in 1919 those coins were replaced with 50% silver coins although they looked identical in every way. In 1946 they were replaced again but this time the silver was removed completely .Silver being a rare and precious metal is what gave the coin value. Would you prefer 14 grammes of silver or 8 grammes of silver or 10 grammes of copper, zinc and tin. This was replicated on a global scale , In the NL for example the silver content was reduced from 94% to 72% and then the size of the coins were reduced  further reducing the amount of silver in your possession . In the USA it went from 90% to 0 in 1965. The $ which by then was the world reserve currency was temporarily removed from the gold standard by Nixon in 1971 when the French who no longer trusted the $ was backed by adequate gold supplies demanded gold bullion in exchange for their paper tokens . It is interesting to note that the last full audit of Ft Knox was carried out in the 1950s. That "temporary" withdrawal of the $ from gold exchange is still in force today. Forcing bankers to have gold in order to print currency kept them on a leash , today with fractional reserve banking and a host of other tricks at their disposal banks can create as much currency as they want . Replacing notes with digits on a screen removes the visual aspects of hyperinflation however our national debt shows we are on the way to that destination. Gold and silver have been money for 6000 years because man trusts them more than any banker or tally stick or cowrie shell or Zimbabwean style economics.

    This year alone bitcoin has gone from $19500 to $3200 for what is just a digit on a screen created from solving a sum nobody needs the answer to. We must be wary not to give control of our monetary system to those who can exclude us from that system with one press of a button . As Amschel Rothschild said " give me control of a nations monetary system and I care not who makes the laws"  We must educate our children in the difference between money and currency .

    gold is the currency of Kings ,silver is the currency of gentlemen ,barter the currency of peasants, debt the currency of slaves and paper the currency of fools.

    digits on a screen ? No thanks.

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  34. From DR today;

    "The reasoning behind Steven Gerrard's Rangers move in the brutal game of management snakes and ladders – Duncan Castles

    Gerrard 's strategy was the more dramatic. And the braver. A respected academy coach at Anfield following his retirement as a player, Gerrard knew a huge section of Liverpool's support would push for him to be the club's next manager. The problem was that Jurgen Klopp didn't look like leaving any time soon.

    …"

    ======================

    I thought this Duncan Castles must be a 'fan' giving his opinion, but apparently he's a 'journalist'.

    "…braver…respected Academy coach…club's next manager…"

    Hmmm

    The version the Bampots read was rather different.

    The U-19 coach was so respected that Gerrard was offered a Club Ambassador role.

    Manager of LFC was apparently not on the cards for him either, "anytime soon".

    So, someone's obviously writing p!sh.  

    View Comment

  35. StevieBC 

    15th December 2018 at 15:28

    ====================================

    I read that earlier, it was like the sort of thing you would read in a fanzine. 

    "Gerrard 's strategy was the more dramatic. And the braver. A respected academy coach at Anfield following his retirement as a player, Gerrard knew a huge section of Liverpool's support would push for him to be the club's next manager."

     

    "I had probably as many as eight other opportunities to be a manager, to be a number two, to be a coach, which presented themselves since I came home from Los Angeles,” explained Gerrard. “But I never got the right feeling from them. When Rangers came it was a game changer.”

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  36. Timtim 15th December 2018 at 14:31
    14 0 Rate This

    @ClusterOne

    The cashless society and cryptocurrencies in general are a bankers dream which is why they should be avoided like the plague.
    ……………………….
    A great informative post, thanks for that.
    And sorry for the late reply.
    My earlier post to a reply was more tongue and cheek, hence the crossbar challenge way to make a few quid.
    But i am always happy to be pointed in the right direction.

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  37. Homunculus 15th December 2018 at 16:31
    4 0 Rate This

    StevieBC

    15th December 2018 at 15:28

    ====================================

    I read that earlier, it was like the sort of thing you would read in a fanzine.

    “Gerrard ‘s strategy was the more dramatic. And the braver. A respected academy coach at Anfield following his retirement as a player, Gerrard knew a huge section of Liverpool’s support would push for him to be the club’s next manager.”
    ……………..
    Reads more like a warburton you snooze you loose. Article.
    https://mobile.twitter.com/ClusterOne2/status/1074009006069424133?p=v

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  38. Cluster One 15th December 2018 at 18:36

    ============================

    Mark Warburton apparently had an almost 66% win rate with Rangers.

    Am I not right in saying that Steven Gerrard's is under 50%.

    View Comment

  39. Homunculus 15th December 2018 at 19:05 Am I not right in saying that Steven Gerrard's is under 50%. …………………. Gerrard must get up at Noon.angry

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  40. From James Forrest;

    https://thecelticblog.com/2018/12/blogs/did-the-sevco-social-media-hate-mob-force-the-departure-of-an-anfield-loanee/amp/?__twitter_impression=true

    "…Because following his last game, the young Anfield loanee [sic] was the subject of a torrent of racist abuse on social media … from the Peepul he was there to play for. Yes, from his club’s own fans, and that does tend to sever any connection, any bond, a player might have made with them…"
    /////////////////////
    A young player returning to Liverpool to share his experience of Scottish football with his team mates, family and friends.

    The reputation of Scottish football is damaged – yet again – by the team playing out of Ibrox.

    Why would any individual with self-respect now choose to sign for – or go on loan to – this deviant club, [unless they were just desperate?]

    The sooner they die – permanently – the sooner the rest of us  can move on "for the good of Scottish football."

    angel

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  41. sickofitall 16th December 2018 at 07:47

    '…Have they complied with the court orders yet'

    ___________________________

    Patience, sickofitall!

    The deadline was 5.30 pm on a Friday. The Court of Session is not open for business for another 19 hours or so as I write.

    So Lady Wolffe will not officially know whether the TOP has confirmed that King has done to their satisfaction what she ordered him to do.

    And I'm with eJ in his observation that Lady Wolffe made it abundantly clear to King he has to pay heed, and careful heed, to the terms of the order.

    If Lady Wolffe does not tomorrow morning have written notice from the TOP that King had by 5.30 pm on last Friday met to their satisfaction the terms of the order then King is in soapy bubble.

    Absolutely.

    But my fear is that the TOP itself might too readily accept some token compliance, rather than nail the guy. Remember, the TOP is made up of guys who are themselves 'money men' operating in the market: and a bit like, say, the members of the SFA, will not want to push 'principle' too far. 

    I came across this quite interesting piece

    https://www.law.ox.ac.uk/business-law-blog/blog/2018/06/enforcing-takeover-panels-decisions-panel-v-king-2018-csih-30

     

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  42. This comment was posted by Auldheid after the most recent Celtic AGM.

    In summary:
    ·       Why have Celtic from the beginning chosen to eschew direct UEFA involvement?
    ·       Why are they not now taking the new information into account in respect of that choice and reviewing it?
    ·       Given the time it has taken the SFA to decide that CAS should be involved (for unclear reasons) are Celtic willing to wait an undetermined period until the SFA are able to progress the matter or will it be all over by ST Renewal time next April?
    ·       Would it be possible for shareholders representatives to meet the SFA Compliance Officer and CEO before Christmas to ascertain progress, to be able to provide assurances based on clarity to those they represent?
    ·       Can we have answers to those questions confirmed in writing please to send to signatories of Resolution 12?

    Is it possible to have information about the response, if any, that there has been to these questions – if not in detail, perhaps even a general indication of where things have now reached? 

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  43. joes11 17th December 2018 at 09:27

    '….Is it possible to have information about the response, if any, that there has been to these questions – if not in detail, perhaps even a general indication of where things have now reached? '

    ___________________________

    Somewhat related to your post, here am I in Australia, joes11, wishing to ask whether Mr Bankier has replied to my letter to him. I am conscious of the possibility that he may have replied since I left on my travels, and his reply may be lying on my hall floor as I write, so I would like to know for sure. 

    But, by geez, these guys don't half make it hard to communicate with them: there is no email address given on the Celtic plc website even for any PA  that Mr Bankier may have, never mind an email address for the  Chairman himself. 

    So I cannot simply email to ask whether a reply has been made, and if so what were the terms of that reply: and if not, whether I am to be favoured with a reply at all!

     

     

     

    View Comment

  44. It's what, half-past one-ish p.m in Edinburgh? 

    Lady Wolffe will presumably by now have been informed by whoever keeps the diary of 'deadline' dates as to whether King has obeyed her order to the satisfaction of the TOP.

    When will we, the 'public', hear whether the Court has been given the two fingers or whether King's legal bods have prevailed upon him to obey?

    I am agog with excitement!!!. 

    No, really, I expect some fudge, some work-around, some 'arrangement' will have been reached under which King will have generously agreed to accommodate Lady Wolffe and the TOP in the interests of moving on, having made his point etc etc etc.

     

    View Comment

  45. StevieBC

    "SingingCaleyGoAllBigoted. They Really Are Atrocious!"

    ———————————————————————–

    Can you expand??

    View Comment

  46. A poster on another site has said he phoned the TOP at lunchtime and they confirmed that no cash convertor had been nominated to this point in time.  He seems genuine enough.

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  47. John Clark 17th December 2018 at 13:44

     

    It's what, half-past one-ish p.m in Edinburgh? Lady Wolffe will presumably by now have been informed by whoever keeps the diary of 'deadline' dates as to whether King has obeyed her order to the satisfaction of the TOP. When will we, the 'public', hear whether the Court has been given the two fingers or whether King's legal bods have prevailed upon him to obey? I am agog with excitement!!!. No, really, I expect some fudge, some work-around, some 'arrangement' will have been reached under which King will have generously agreed to accommodate Lady Wolffe and the TOP in the interests of moving on, having made his point etc etc etc.

    ________________________

     

    I'd suggest that if King has complied then we will hear nothing until the next deadline when Laird have to make the offer ie 11 January 2019, and that if he hasn't complied, it'll all depend on how quickly the court care to deal with the announcement which might be delayed by the court breaking up for Xmas holidays.

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  48. Allyjambo 17th December 2018 at 18:30

    I'd suggest that if King has complied then we will hear nothing until the next deadline when Laird have to make the offer ie 11 January 2019, and that if he hasn't complied, it'll all depend on how quickly the court care to deal with the announcement which might be delayed by the court breaking up for Xmas holidays.

    ==================================

    The 14 December date only related to the appointments of a legal advisor and a cash confirmer. The 11 January date is only for having the transfer of funds cleared by SA exchange control.  The public cash confirmation statement should come shortly after that happens.

    King is not required to make an offer until 25 January, and it will be up to four weeks after that before we find out if the offer is unconditional (hits the 50% threshold).

    You are correct about the potential for delays in the court processes (if required) over Christmas and New Year.

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  49. Looks like the good people of Glasgow dodged a bullet when one of the cheeks failed to qualify for the Europa knock-out stages .With both being unseeded , we would have had a 17.55 ko on a Thursday , followed by the other at 20.00 , as has happened with Arsenal and Chelsea . And all on Valentine's Day .

    Might be why Police Scotland were happy to have the League Cup semi-finals played back to back at Hampden – a wee trial run for a potential occurrence .

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