Celtic already bankrupt?

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I WILL KICK YOUR **** IN said:
No. GCC knew that they were going to regenerate the East End, they've known that since the 60's. Regardless of the commonwealth games, the East end was getting regenerated.

The land was worth significantly more than £1, to say it's worthless is absolute bullswallop.

The old London road school, shut in 2004 and the only B-listed school left in Glasgow, has been sold to Celtic and they've been granted permission to flatten it.

The council are a corrupt bunch of bastards, take team loyalties aside and it's the same. The whole organisation is corrupt as ****.
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To be fair they all are

I'd imagine any price in addition to the official £1 went via brown envelopes!
 
Magic Laudrup 11 said:
I would have happily paid a pound for the land, if I was made aware of it being available. Fair enough I would only have been 7, but my pocket money back then would have covered the purchase. Not sure about legal fees......lawyers are all a bunch of ****s. No exceptions <whistle>
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I wont disagree with that! <ok>

But you have confirmed it in a nutshell here. £1 to buy is not the true "cost". The fees etc on top paid be Celtic

They've also had the costs of it save by the Council for over 20 years. The savings "MAY" be more than selling for a higher price today. I say MAY as i dont know the actual figures. No one truely knew how it would pan out. For example

My Neighbour bought his house for £28k 25 years ago
I bought mine (which is smaller) for £258k 2 years ago.

Had he known the prices would have gone up he would have had bought mine too no doubt! Would have had to pay for it for 25 years to make that money though

Celtic and the Council gambled

Celtic won <ok>
 
eric cartman said:
http://www.celticfc.net/downloads/SE_notifications/Interim_Results_2012.pdf

Page 12
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Page 12 you say

Non-current liabilities reflect the non-current element of bank loans of £10.41m (December 2011: £10.78m, June 2012:
£10.59m) drawn down at the end of the period as part of the Company’s bank facility of £33.56m (December 2011:
£34.31m, June 2012: £33.94) and £4.44m (December 2011: £4.44m, June 2012: £4.44m) as a result of the reallocation of
non-equity share capital from equity to debt following the introduction of IAS 32 and £0.09m (December 2011:
£0.18m, June 2012: £0.12m) of deferred income.
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Drawn down from a banking facility ...

is that not just how much has been spent out of an overdraft?
 
pud said:
Drawn down from a banking facility ...

is that not just how much has been spent out of an overdraft?
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No, that's just what Timmy wants you to believe.

If you have a £10,000 limit on your credit card, you're £10k in "hidden debt" <grr>

Nah, a drawdown facility is usually offset against assets (like a secured loan) - you can get a drawdown facility on your mortgage (if you have a flexi-mortgage, you probably have that facility even if you don't know it).

It's basically the bank saying that they think you're good for more credit if you want it.

It actually shows Celtic being offered credit facilities that they're not using. And, trust me, banks are pretty quick to claw these back these days. If anything this "hidden debt" doublethink is actually an indicator that Celtic PLC are operating successfully and have the confidence of their lenders/banking partners.
 
Biggus Diccus said:
No, that's just what Timmy wants you to believe.

If you have a £10,000 limit on your credit card, you're £10k in "hidden debt"

Nah, a drawdown facility is usually offset against assets (like a secured loan) - you can get a drawdown facility on your mortgage (if you have a flexi-mortgage, you probably have that facility even if you don't know it).

It's basically the bank saying that they think you're good for more credit if you want it.

It actually shows Celtic being offered credit facilities that they're not using. And, trust me, banks are pretty quick to claw these back these days. If anything this "hidden debt" doublethink is actually an indicator that Celtic PLC are operating successfully and have the confidence of their lenders/banking partners.
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<ok>
 
Biggus Diccus said:
No, that's just what Timmy wants you to believe.

If you have a £10,000 limit on your credit card, you're £10k in "hidden debt" <grr>

Nah, a drawdown facility is usually offset against assets (like a secured loan) - you can get a drawdown facility on your mortgage (if you have a flexi-mortgage, you probably have that facility even if you don't know it).

It's basically the bank saying that they think you're good for more credit if you want it.

It actually shows Celtic being offered credit facilities that they're not using. And, trust me, banks are pretty quick to claw these back these days. If anything this "hidden debt" doublethink is actually an indicator that Celtic PLC are operating successfully and have the confidence of their lenders/banking partners.
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Bib, the internet accountant <doh> Clearly knows **** all.

I got an A in accounting and finance higher. I have had a detailed look at the accounts and can confirm that you are in debt to the tune of £64,312,957.55.
 
Magic Laudrup 11 said:
Bib, the internet accountant Clearly knows **** all.

I got an A in accounting and finance higher. I have had a detailed look at the accounts and can confirm that you are in debt to the tune of £64,312,957.55.
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<laugh>
 
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