More crazy fail nonsense from the most financially astute supporters in all of football* Exclusive: European Commission seek explanation on Celtic land deals Celtic representatives have been in Brussels as part of a preliminary investigation by the European Commission into land deals between Celtic and Glasgow City Council. The probe relates to question marks over the purchase of various plots of land, including their Lennoxtown training complex, which it has been alleged constitute State Aid. In recent months, the European Commission Directorate General for Competition State Aid has announced several formal investigations into allegations of State Aid involving Spanish and Dutch clubs - including Barcelona, Real Madrid and PSV Eindhoven. The latest club to become embroiled in an investigation, over an arrangement with their local council regarding the Liberty Stadium, is Swansea City. The situation with Celtic is not yet at the same stage as the Spanish and Dutch investigations, but preliminary meetings have been held and information has been requested by the European Commission. When contacted by the Rangers Standard, an EC spokesperson said: "We have indeed received complaints about alleged aid in land deals between Glasgow and Celtic and we have requested and received detailed information from the UK authorities, lastly in December 2013." "There is no legal deadline to conclude a State aid investigation; the duration depends on a number of factors, including the complexity of the case". It is understood that both Celtic and Glasgow City Council are extremely concerned at the possibility of the preliminary investigation leading to the type of full investigation which has been initiated in respect of Spanish and Dutch clubs. Celtic have purchased several plots of land from State organisations, which have historically been Labour controlled, at low prices. These include the purchase for only, £497,000, of the land their Lennoxtown training ground was built on. It is believed that the recent sale of London Road Primary School may also now fall under examination. If you are interested in more forensic detail on the various purchases and valuations then you should visit the excellent http://footballtaxhavens.wordpress.com/2014/01/01/state-aid-assembling-the-case-for-the-eu/ The European Commission has wide ranging powers if there is found to have been a breach of the regulations. The Commission can require the Member State to recover the aid with interest from the beneficiary (in this case Celtic). This could lead to a potential bill of over £30m for Celtic, which would have to be repaid over a maximum period of ten years. Any finding of guilt would put pressure on the SFA to probe any sporting advantage that discounted deals brought. It may also fall foul of new UEFA Financial Fair Play regulations. This news comes only a day after the announcement that the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are to examine the conduct of Co-Op Bank officials over allegations of tie ins with the Labour Party. Celtic, who can count former Labour Minister, John Reid and former Labour MP, Brian Wilson amongst their former and current directors, were the recipients of extremely favourable loan deals from the Co-Op Bank and those are almost certain to be examined as part of the investigation. It is believed that the State-owned land obtained by Celtic was used as security for these loans. http://www.thisismoney.co.uk/money/...slammed-cheap-loans-Celtic-Football-Club.html The European Commission probe is separate to this however and Celtic will potentially have to fight on two fronts to show that they have not been the beneficiaries of either State Aid or politically motivated, favourable loans secured against the land purchased. Last year Celtic employed a lawyer with litigation experience as their Company Secretary. If anyone has any information regarding these allegations then please contact The Rangers Standard in confidence and we will incorporate it into any further enquiries. Anyone with detailed information or any specific complaints relating to State Aid on this matter should contact the European Commission at [email protected] . Also if you have any relevant details on the Co-Op investigation you can contact the PRA at [email protected] . * clearly not true.
Celtic Football Club statement By: Newsroom Staff on 08 Jan, 2014 18:03 IN response to stories in today’s media concerning Celtic, the club has released the following statement. ‘Celtic Football Club operates to the highest standards and with the utmost integrity. At a time when the Club is committed to investing in and improving areas around Celtic Park, not only for Celtic supporters but for the benefit of the local community, it is sad that these baseless accusations have been raised with the European Commission. ´Any suggestion that Celtic has been the beneficiary of state aid is preposterous - as ludicrous as any suggestion that we have benefited from soft loans from our bankers. The historic transactions referred to were negotiated with the Council on commercial terms at market rates. ´The Club will assist the Commission fully with the process and will not be deterred from our work to improve our local area.´
I love how ****ty they wrote the article too. Like a 12 year old pretending to be a top tabloid journo!!
please log in to view this image Fabulous Timpostery. Nobody from this site would fall for it..... Magic.
From Eric's Link: Despite claims on one Rangers supporters website, Celtic did not purchase the land that their Lennoxtown training ground now resides on. Celtic did purchase the land for £493,000 exclusive of VAT [despite the Rangers site claiming £497,000] but not from Glasgow City Council, the Parkhead side purchased the land from the Greater Glasgow Health Board. All business dealings by the Greater Glasgow Health Board are audited by the Auditor General of Scotland and not Glasgow City Council nor East Dunbartonshire Council, which is where the Lennoxtown land resides within. Let's hope this is the basis for some of the complaints
No. The blogger doesn't understand a few things about land and its value. http://footballtaxhavens.wordpress....ver-30-million-westhorn-between-5-10-million/ Here he has valued the land at lennox town at £30m based on residential land values. Lennoxtown is situated in a greenbelt and therefore cant be used for residential development. The land is basically worthless as you cant build on it. Murray park is in a similar situation, does that mean they also received state aid?
