Waltersgotstyle 297 Posted February 1, 2012 Share Posted February 1, 2012 The form is dubious, to be honest my guess is it is a fake. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 1, 2012 Share Posted February 1, 2012 I'm not sure that this is particularly new. Celtic have had their loans from the Co-op secured for a number of years. Their accounts say "The bank loans are secured over Celtic Park, land adjoining the stadium and at Westhorn and Lennoxtown." I don't know why this form was produced but it seems to have been in place for at least 3 years prior to the date of the form. As for Lennoxtown financing, it went through the Celtic accounts. I don't buy into the Desmond soft loans theory. I don't see what these alleged loans have been used for. The huge gap where No Euro money should be. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,343 Posted February 1, 2012 Share Posted February 1, 2012 The huge gap where No Euro money should be. Their accounts seem to me to stack up. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,343 Posted February 1, 2012 Share Posted February 1, 2012 The form is dubious, to be honest my guess is it is a fake. It's genuine. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 1, 2012 Share Posted February 1, 2012 Their accounts seem to me to stack up. I agree they do but who the hell can they be on a even keel without Dirty Des backing them to the hilt. Did Dr Death not tell the hordes when he left that Des had put 50mill into the club I don't remember seeing that on their accounts. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted February 1, 2012 Author Share Posted February 1, 2012 Their accounts seem to me to stack up. Bluedell , I bow to your greater financial knowledge , but when they had their last share option the money raised was meant to be split 50/50 between debt and Lennoxtown . The building of Lennoxtown was delayed by 1 year and all that money went into the debt reduction , when the training facility was built a question of finance was raised at their AGM as to where the money came from , that question was never answered even though the shareholder has followed it up relentlessly over the years he is not given an answer. Just seems a strange one . 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,343 Posted February 1, 2012 Share Posted February 1, 2012 Bluedell , I bow to your greater financial knowledge , but when they had their last share option the money raised was meant to be split 50/50 between debt and Lennoxtown . The building of Lennoxtown was delayed by 1 year and all that money went into the debt reduction , when the training facility was built a question of finance was raised at their AGM as to where the money came from , that question was never answered even though the shareholder has followed it up relentlessly over the years he is not given an answer. Just seems a strange one . Their 2007 accounts show £8m spent on lennoxtown, but they made a £15m profit that year, due to last 16 of CL and making £9m on the sale of players (Petrov being one IIRC). I'm no expert in their accounts but just looking at that suggests that the funding wasn't too much of an issue. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,343 Posted February 1, 2012 Share Posted February 1, 2012 I agree they do but who the hell can they be on a even keel without Dirty Des backing them to the hilt. Did Dr Death not tell the hordes when he left that Des had put 50mill into the club I don't remember seeing that on their accounts. Presumably through their numerous share issues? 0 Quote Link to post Share on other sites More sharing options...
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