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It is funny that the tims

actually think they have money to spend this year without selling their two best players(Kayal,Izzy).

It is going to be a rude awakening when the latest finacial reports get released.
McDermott has said he wouldnt even invest in Ireland at the moment, what makes them think he would invest anymore in Celtic.

posted on 8/6/11

so apparently pishy cant tell the difference between a set of nips and a pair of bawz. why would u admit something like that ya dafty?

comment by (U5278)

posted on 8/6/11

Comment Deleted by Site Moderator

posted on 8/6/11

Dados

If he's post of Darren O'Dea says isnae interested either.


Freddie says he disnae mind either way.

posted on 8/6/11

Do you write for the record?

posted on 8/6/11

In answer to the original poster, even the most ardent Celtic supporter must see that they need to reduce their squad. Too many players meaning an inflated wage bill that is probably (guessing here) unsustainable without CL money. As an example, Celtic had about a dozen midfielders at the end of the season all vying for four places. Lennon will have been told to lose the players he doesn't need to free up budget for new players to improve the team. So I would expect more players leaving than coming in. However, if he can lose the fringe players then he will not have to sell his top stars.

On a separate note..
Celticghirl1967,
You are right in saying the Rangers debt has not been cleared. It is no longer owed to Lloyds however. Whyte has bought the debt from LLoyds but not cleared the debt. In other words he has paid the money to Lloyds but got them to assign the debt to his company rather than cancel the debt. Intention is to clear it once the tax case blows over. I think.

posted on 8/6/11

'freddie says he disnae mind either way'

Nae wonder the two of them are kept out the huddle

posted on 8/6/11

. Intention is to clear it once the tax case blows over.

The eternal optimist!

posted on 8/6/11

occamsrazor,
I'm neither being optimistic nor pessimistic. Just realistic. Whyte now owns the debt as it has been purchased and assigned from Lloyds.
His circular states that if the tax case does not lead to an insovency event, then the debt will be waived or replaced by a share issue. There is also a clause in the circular highlighting that any failure to meet any of the undertakings committed to, will have the result of extinguishing the debt.
In short then, there are number of outcomes.
1. HMRC win their case leading to insolvency
2. HMRC win their case but amount of settlement does not lead to insolvency
3. HMRC loses case

In scenario 1, have no clue what the outcome would be but can't imagine it would be pretty.
Scenario 2 and 3 would lead to Whyte fulfilling his commitments and either waiving the debt or issuing shares to clear the amount owing. If he did neither, then under the terms of the circular, the debt would be extinguished. Either way, if RFC do not enter an insolvency event, they will be debt free.
Incidentally I would hate for either of the OF to go under.

comment by (U6994)

posted on 9/6/11

bond, your not allowed to quote stories from the media about rangers tax issues, you will be called an eastend accountant, despite the bears themselves quoting stories from the same rags...

strange logic, but very true...

posted on 9/6/11

Incidentally I would hate for either of the OF to go under.
***********
So would I and anyone who thinks differently obviously has little imagination.
Same goes for moving to England. Either they both stay or both go. I prefer the latter.

Thanks for your extensive article which people using this site should all read!

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