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quinty

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I've been emailing The Eye all the stuff on here relating to the Co-op loans,GCC land deals etc hoping they would print something. Glad to see the emails were not in vain. Perhaps the supine Scottish media will be stung into investigating this scandal................then again......naw.

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Little by little the story of what has been going on is beginning to spread. This may not be a front page on a daily, but it certainly is the sort of article that will make some out there look a little closer at the situation and question what has been the party line.

Private Eye articles usually open the eyes of the more ambitious journalists who work in mainstream media, so we may see a knock on effect - unless the editors stop them.

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I've been emailing The Eye all the stuff on here relating to the Co-op loans,GCC land deals etc hoping they would print something. Glad to see the emails were not in vain. Perhaps the supine Scottish media will be stung into investigating this scandal................then again......naw.

Sooner rather than later, this story will attain a critical mass when the media will have to run with it.

Once the floodgates open they will be like sharks in a chummed sea.

At the moment they won't dare go it alone but once the frenzy starts they will be torn apart.

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Lifted this from the timmy blog(old) posted on the tweet, first time I've seen this, it's remarkable in it's stupidity

Peter Lawwell has laughed off claims that Celtic have a secret debt of £35m to the Co-Operative Bank.

The more fanatical elements of the Sevco support have been spreading the myth that the Scottish champions were on the brink of collapse due to a debt hidden away in the back pages of the

audited

icon1.png

accounts.

Having failed to realise that Craig Whyte wasn’t a billionaire and the disastrous impact Charles Green had on Sheffield United it’s hardly a surprise that the ‘Co-Op debt’ story has no factual basis.

Presenting the latest audited club accounts showing a £9.4m profit Lawwell answered the myth saying: “We have a long-term loan. That is our debt. We are not using the overdraft and we have enough money in the bank.

“Say that term

loan

icon1.png

is £20m – we have £23m in the bank so that gives you £3m [net cash at bank]. So we have more in the bank than our debt.”

Lawwell added: “We have no bank debt and

money in the bank

icon1.png

.”

With the ‘Co-Op debt’ myth destroyed the financial focus returns to Ibrox where the overdue audited accounts are still to be published.

How can liewell say we have a "long term loan" and then say "we have no debt" is a loan not a debt ? and this crazy tim thinks that if they had 20mil loan they'd have 3mil in the bank, Just how long would that last them if 1mil is only sufficient to see us through to April ?

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..Just wait until they have to pay GCC the £30 or £40million that they benefited from in state aid...apparently....they will be finished imo..

Nah, you/we wish.

They have been banking all income as profit, with shareholders being paid a handsome reward - I am sure. If that bill hits them, they will have a whip round and get the money; corruption pays.

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Nah, you/we wish.

They have been banking all income as profit, with shareholders being paid a handsome reward - I am sure. If that bill hits them, they will have a whip round and get the money; corruption pays.

Don't care about that it is the sporting integrity and unfair advantage gained.

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Don't care about that it is the sporting integrity and unfair advantage gained.

Spot on mate! How many titles will be stripped from them? At least everyone since our 3IAR, & even before that. Cheating, hypocritical, scummy bastards that they are. They tried to kill us, now the boot is on the other foot, & I hope the support will unite, & show the rest of the world, who THE REAL CHEATS ARE!!!!

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