Kris Boyd wants Celtic to bail out his old club from Ibrox!
Last November at their AGM Dave King announced a £10m shortfall for the season as they chased Celtic to stop the hoops winning a ninth successive title.
Losses of £11.3m on a turnover of £53.2m for the year to June 2018 really should have set off alarm bells but Steven Gerrard’s spending power was unaffected as he chased glory. In a moment of wishful thinking Boyd would like Celtic to help out for the greater good of Scottish football.
Such was the desperation to deny Neil Lennon’s side the SPFL trophy that after losing to the hoops in September they committed £7m to signing Ryan Kent from Liverpool.
Earlier in the transfer window Jake Hastie, Brandon Barker, Jordan Jones and Sheyi Ojo were added to the wage bill that already included Jamie Murphy, Glenn Middleton and Eros Grezda.
In anyone’s terms, never mind Boyd’s it was financial madness.
While the Ibrox club spent recklessly on players Celtic sold Kieran Tierney to Arsenal and made a profit from the summer window despite spending £7m on Chris Jullien who has outscored Kent from the centre of the Celtic defence.
At the end of December Boyd was a picture of happiness as the over-spending of the Ibrox club saw them beat Celtic 2-1.
Since Steven Gerrard’s squad returned from Dubai his squad have fallen 13 points behind Celtic, the prospect of a ninth title success on the bounce for the hoops plunges Boyd into a state of despair. Plus, there is the financial nightmare of overspending at his old club.
Had they did what Celtic did with Tierney they would be in rude financial health. Selling Alfredo Morelos would have wiped out any financial problems.
Seeking a solution to the issues facing the Scottish game and his old club in particular Boyd explains to Sun readers:
Germany is a superpower, not just in football terms, but also in how a society should be run. Everyone works together for the greater good. I mean, look at what happened with Borussia Dortmund a few years back.
Struggling to survive and in very real danger of going out of business, they were bailed out by their biggest rivals Bayern Munich. Why? Because they recognised they needed Dortmund.
Can you imagine Celtic offering financial assistance to Rangers? Or vice versa? Scottish football is short-sighted. It always has been. No one ever seems willing to look at the bigger picture.
As with most things Boyd has a bit of a story, not the full picture. Bayern didn’t save or bail Dortmund out. They loaned them 2% of their total debt, it was a token move. Note the use of the word loan, something that many connected with Ibrox struggle to come to terms with.
In 2012 Celtic, Hearts, Dunfermline, Inverness Caley Thistle and Dundee United were among the 276 creditors when Rangers went into administration.
Accepting the shortfall at Ibrox as £10m surely the remaining Three Bears can find that from their own wealth, just as they have for the last five years. Failing that if they present a plan to a bank or other lender, they can take the sum on at competitive rates.
As a last resort Celtic could of course consider a £200,000 loan. That sort of figure might just about pay Jermain Defoe’s wages for a month. Plus, like Bayern, Celtic would need the loan repaid.
For Boyd’s benefit he could take a look at BVBBUZZ for an explanation of what really happened between Bayern and Borussia Dortmund:
And after the successful 2002 Bundesliga campaign, Dortmund’s ridiculous spending eventually came back to bite them. During the 2003-2004 campaign, the club had amassed a total debt of 100 million pounds. The club was desperate enough to accept a 2 million pound loan from arch-rivals Bayern Munchen. Despite it only being a minor sum it was an honourable gesture and Hans Joachim Watzke made it a number one priority to pay them back. The club, however, was still in shambles and the problems were only growing.