Paquis

The figures came from the Celtic Annual Reports. There is a five year summary at the back of each with net profit/loss figures so all it takes is a few reports (they are available online) and a calculator (not a Seville one). I didn't look too closely at Celtic's debt because I have never considered debt to be particularly relevant. In my view, profit and loss are far more important. However, just to put your assertion into perspective, Celtic announced in February of 2011 that they had a £9M bank debt. In addition to this you have to add Trade debt to the calculation so the actual figure will be quite a lot higher. Hope this helps.

Honest guv. We only did it cos a bad boy made us do it

The book value of Ibrox bears no resemblance to its market value and has more to do with David Murray trying to make the accounts look good than anything else.

I think you need to look just a wee bit farther back than just one year.

Then, presumably, the creditors will vote down the Miller deal and take their chance on a liquidation sale. Alternatively, they may feel that £11 million plus is better than the risk of getting less.

Unfortunately, as history has shown, if you enter earlier then you just get knocked out earlier.

Leave Dundee United out of this

If I put my businessman hat on for a moment, acquiring an asset that has only one possible customer seems very risky to me. I would want a very significant discount to compensate for the level of risk.

An interesting thought. But a high level of risk for any acquirer because they would only really have one customer and the balance of power would not be in their favour.

After you have paid to demolish it, and renovated the main stand which is listed? And all that in a struggling economy. And who would rent it? And there is a conference/exhibition/concert centre just over the river?

The only Rangers asset that has any market value is Auchenhowie and that value will depend on zoning laws. Ibrox only has value if you happen to be looking for a second hand stadium in Govan. In return for wage cuts, the transfer value of the best players has been cut drastically. The most valuable asset is the 'brand' and the support and you cannot sell those. I'm not sure that liquidation would even raise £11 million.

Dream on. Celtic need every penny they can get. They have a net loss of £28.537 million over the last 10 years and they are still not competitive in Europe. Furthermore, the impact of losing Rangers on Scotland's coefficient will make sure that they and any other Scottish teams will have to play CL qualifiers from which they have always had a hard time emerging. Celtic will not be giving any of it away.

Lets see. Raith are effectively insolvent. Their accounts were qualified by the auditors - emphasis of matter - going concern. Liabilities exceed assets by £309,990, Raith are living day to day on the basis of donations and soft loans; £70,000 just last month without which wages would not have been paid. Raith been unable to pay HMRC on time for a number of years and keep having to pay up late. So what punishment do Raith deserve for their financial mess?