Earlier this week, the lights went out in Spain and Portugal.
It was a weird, freakish, weather-related phenomenon. Another indication that we’re heading down a very bad road in terms of our climate and the effects we’re having on it. That’s not something a lot of people like to think about, and those of us who do think about it regularly grow more worried with every day that passes about the general apathy around the subject than we are about the subject itself.
There’s something about human beings that makes us incredibly resilient, but also incredibly vulnerable. It’s that we don’t overthink the possibility of catastrophe—because if we allowed our minds to dwell on it too much, we wouldn’t be able to function in any meaningful way.
That we might be setting ourselves up for a situation where nothing can function in any meaningful way doesn’t seem to sink in.
The power cuts in Spain and Portugal got me thinking about Programme Yarrow, the UK government’s 2021 strategy for dealing with grid failure.
It was an exercise into how the government would cope with a nationwide blackout lasting a week. When I first read that, I laughed out loud.
Because that’s about the extent of our capacity—for imagination and, more importantly, the limit of what government is willing to plan for or admit to.
That’s an “emergency scenario” that becomes more about when you’ll get to charge your iPhone than about matters of life and death.
Back when I was fascinated by nuclear war, I came across the details of the UK government’s huge 1980s exercise entitled Square Leg.
To this day, it remains the largest simulation the UK has ever undertaken into nuclear war and its aftermath. The scenario begins in January 1980 and the “pre-war phase” lasts until August, and the bombs themselves fall on 19 September.
In contrast, the so-called “survival phase” lasts until 1 October, and the laughably entitled “recovery phase” ends abruptly on 4 October.
And there’s a reason why it ends so quickly—and it’s the same reason Yarrow only focuses on a blackout lasting a week.
It’s because those are the only timeframes in which the government can still pretend to itself that these are short-term problems with immediate fixes, and that the damage might somehow be contained.
Most experts know the truth: if the bombs drops we’re all done, and if the power goes out, it’s likely to be for a lot longer than a week.
And beyond that window, societal breakdown happens fast—so fast that even attempting to wargame it becomes an exercise in futility.
And that’s what I mean about our own inability to see beyond a certain level of crisis or scale of disaster. We retreat to denialism. We retreat to what’s familiar.
And we cling, with all our might, to hope—even when, deep down, we know it’s wildly unrealistic and perhaps even harmful to do so.
This explains a lot about what we’re seeing in the media and from the fanbase across the city. The idea that this takeover will bring major rewards—that great things will fall from the sky—is a much more soothing scenario than one where the new owners come in and immediately instigate an austerity drive that makes the last few years look like high times.
Or that they buy the club, assume control, and then dump the debts run up in the purchase onto the club itself.
There are dozens of ways this could all end badly. Literally dozens. And the media, which keeps banging on about the miracle of Leeds, refuses point-blank to look at what’s actually happening at Leeds beyond a certain limit.
As The Guardian pointed out the other day, their survival in the Premier League has to be seriously questioned before they even get there. Because with allowable debts of £64 million over a three-year period, they’ve already exceeded that by over £30 million in the last two years. That’s not the sign of a club being particularly well run. The kerfuffle over their manager is another indication that there’s some discontent behind the scenes.
But to look at those things in any meaningful way would force the Ibrox support—and the media—to confront the possibility that this might not have a happy ending. To examine all the ways this could go wrong would be to deny the feel-good story that everyone of a certain persuasion wants to believe in.
Our fans, who look at all this dispassionately and with a critical eye, are accused of “running scared.” Their own fans who have dared to ask the more pointed questions are accused of worse. Nobody wants to hear that things may not get better.
But you don’t have to stretch your imagination too far to see that there are some potentially very bad outcomes here. All you really need to do is cast off the comfort blanket and start looking at it with a more critical eye.
If you’re asking me what the worst-case scenario for Celtic is—on the farthest fringes of possibility—I’d say it’s that this group of investors are all united in a common cause and have decided to turbocharge the club across the city in any way they can. To pour not just tens of millions but hundreds of millions of pounds into a football club they have no emotional connection to—and until recently, no connection at all—knowing they’ll never see a tenth of that money back, and doing it all out of a single-minded obsession with overhauling Celtic.
That’s our worst-case scenario.
I’m not surprised some of their fans have jumped straight to the conclusion that it’s exactly what will happen. These are the same people who clung to the state aid investigation as the thing that would turn our lights out. The same people who believed the abuse cases would bankrupt the club.
These same ones have long thought we were just one misfiled form away from title stripping. They dream about worst-case scenarios for us every single day. Some of them have been waiting on them for years.
So could this particular scenario happen? It could. There’s a theoretical universe in which it plays out that way. Perhaps these are people driven by ego, and this is the biggest ego trip of their lives. That could very well be the case.
But Cavanagh made his millions in health insurance—one of the most low-risk and risk-averse industries in the world. You don’t get many insurance guys speculating wildly like madmen in a casino.
A lot of things would have to happen before that scenario came to pass. And unfortunately for their club, one of the biggest dominoes that would need to fall is UEFA’s financial sustainability regulations. As long as those exist, there is no prospect at all of anyone executing that kind of worst-case scenario.
And I know that’s an inconvenient fact—a fact a lot of them are determined to push as far away from themselves as possible.
But it’s not just a fact that impacts one area. If they can’t overspend, then their chances of catching us are greatly reduced. And if they can’t catch us—and they’ll need to do it soon, within a handful of years before their lunatic fringe turns on them—then this whole enterprise is for nothing.
What’s the worst case scenario for them?
Well, a scenario whereby the American investors come in and buy the club, transfer the cost of the purchase onto the club as debt, try to run it on a sustainable basis for a couple of years, find out they can’t, and then stop paying any bills over and above those which keep on the lights… and watch as the debt continues to rise. All the while they’re scrambling around looking for a buyer to take their shares off their hands—a process that may take longer than they originally thought.
It has happened before.
In that scenario, their club could end up in a worse place than it’s in right now, as much as their fans might dispute that. If they want to look at what’s happened elsewhere in British football, they’ll see dozens of examples of it, from Ellis Short at Sunderland to the multiple owners at Everton these past few years.
The only people who don’t want to face that are those either too scared to face it or who lack the imagination for worst case scenarios. But I’ve spent a lot of my life contemplating worst case scenarios. I can always feel my way around them and understand what they might be. It also helps if you have enough knowledge to know which worst case scenarios are more likely to come about.
My honest assessment of this?
None of it makes any sense unless it’s a leveraged buyout. I’ve swayed back and forth on this one, but largely because of the mechanisms that would have to be involved for a leveraged buyout to succeed. And the simple fact is, without a hefty share of the vote and a hefty chunk of the shares, a leveraged buyout is much more difficult.
But ironically, one of the things we’ve learned in recent weeks is that, having not got to 51% by normal means, they’re preparing to execute a brand-new share issue in order to get there. And if they’re willing to do that to get to 51%, I see no reason why they wouldn’t be willing to do it to get the shares they need to put the club completely in their hands—and from there, do whatever they want.
And in a leveraged buyout—which is how I initially expected this to go—the worst case scenarios start to look not only possible, but more and more likely.
If you exclude our own worst case scenario here—that these are people who come into the club with altruistic motives and simply start throwing money at every problem they see—then you have to conclude there’s a profit motive.
And if there’s a way of turning money at that club, I’m damned if I know what it is. There are more smart people at Celtic Park right now than at Ibrox, and they’ve just signed a record-breaking kit deal. If they’ve missed some trick, some way of upping our own earnings, then I’ve yet to hear about it.
Once you conclude that Scottish football has a glass ceiling in terms of the overall earnings a club can make, you automatically must conclude that the club will have to spend less to make any profits at all.
A US journalist wrote something strange in the aftermath of Hurricane Katrina—about how any time he was in New Orleans, he would speak to local businesspeople who would offhandedly talk about the moment when the levees burst.
They never had the slightest doubt that it would happen.
So you have to ask yourself why they stayed, why they ran businesses in an area they themselves thought was doomed. And the answer is fairly simple. Even if you know a thing in your gut, you can still find yourself in a place where you don’t quite believe it in your head.
Every single one of those New Orleans businessmen knew intellectually that it was going to happen—at some point. But all of them managed to convince themselves that it wouldn’t happen for years, and perhaps not for enough years for them to be around to see it.
That’s one type of denialism.
It’s the same type that all of us, to one extent or another, indulge in. When we smoke too much or drink too much, or eat too much, or don’t wear our seatbelts in the car. We know disaster could strike at any moment… and many of us still fail to prepare.
In the novel, The Godfather, a top doctor tells another character why he started doing abortions; they were easier and less stressful than facing people who were on the quick drive to the graveyard. Something he says has lived with me ever since; he would tell people “keep doing this and you will die” and the reason they kept doing it anyway is because he never added a single word; “keep doing this and you will die tomorrow.”
And because he couldn’t say that simple word, most of those people would leave his office, carry on with their destructive lifestyles and be back, shortly thereafter, to be given the news that they were now beyond saving.
That’s denialism at its finest.
Another type of denialism is the one I talked about at the start—how governments are very good at only going so far in their worst case planning. And as someone who has read some of their emergency publications, I can tell you that they’re not very good at going beyond timid assumptions about what the worst case might look like.
Almost all of those plans are about a small-scale emergency. It makes you wonder: if there was a large-scale emergency, do they even have a clue how to handle it? And my deep-seated suspicion is that they don’t.
That’s not so much institutional incompetence as it is human nature.
So when you see Ibrox fans mocking us because we’ve been asking questions—when you see newspaper journalists talk about how we’re obviously afraid that this is all going to deliver a bright new dawn across the city—remember that denialism is hardwired in for some people and they will always look for best case rather than worst case scenarios.
And if that’s how you see the world, it takes an act of mental discipline to force yourself to look beyond that natural tendency.
There’s another tendency the Ibrox fans have—and that’s to prime themselves to be let down. To set themselves up to look ridiculous.
As I’ve said before, on the side of the Celtic bloggers, we can stand on our record—because we’ve been right every single time. And they’ve been wrong every single time.
And really, that’s the only way I can properly answer them.
Over the next 12 months and beyond, we’re going to find out who’s right and who’s wrong.
But if I were them, I’d at least start mentally preparing for the worst.
After you’ve done that, there’s no harm in hoping for the best.
Hi James
For the avoidance of any doubt, I am not the Cavanagh referred to in your piece. I think you are right, a leveraged buyout is the only option that makes sense for hard-nosed capitalists. They have no emotional investment in the club. The problem is that Ibrox fans are so desperate to catch Celtic that they will do any deal, at any cost, an action of collective self-harm. Will some of the current directors resist? Unlikely – I am sure they want out from under and are probably happy to take anything for the confetti- sorry, shares. After all with Leeds likely to struggle in EPL and with all the potential income available it is hard to see ibrox being a priority
They definitely see the world through different eyes to normal fans.
They cannot see themselves as other than brilliant. Nothing is ever their fault and their situation would be amazing but for the cheating everyone else inflicts on them. We are already hearing about the penalty Man Utd were awarded against Bilbao, how it was pathetic compared to the Dessiers denied one. But they knew that would happen as UEFA have been against them from the outset and didn’t want them to progress??.
Big articles about the Moroccan manager saying Imamate is over his blip and the streets will soon be paved with gold for the Ibrox team. Same for Raskin. Lots of articles about Ex Celts transfers and ones on loan flops ie Kyoto, O’Reilly, Turnbull, Jota, Holme, Lagerbielke, Engels, Idah and now Tierney being slagged off by Don Hutchison ffs???
They cannot see what people saw /see in these players when they could have had Morellos, Kent, Cantwell, Raskin, igamane, Jeffre and all the other dross they think are worth millions.
Ferguson raging at the comments about his brother Barry being labelled a flop. So you are spot on James, denialism in full flow to comfort them that they really are the best and that the rest of the world just can’t see it.
Apologies for the typos I did of course mean Igamane, Jefte, Kyogo. Promise I will read the post in future lol
I don’t see how they can issue shares unless they or the sellers are over the 51% or more required to ok a share issue ?
It doesn’t matter what the huns do, we are in the driving seat and will remain there for many, many years to come. We welcome their futile chase!
James, as we all know, Denialism is, and has been very evident in both forms of the Ibrokes club, for many decades!
The first version continually spent money they didn’t have, took on the supremacist mantle and finally died when reality hit home, and the piggy bank finally emptied!
The second version, instead of learning some real lessons, have attempted to carry on the foibles of its deceased family, and apart from one Covid title, have nothing much else to show for it.
Their litany of failure is wrapped up in denialism, and is continually supported by the masses of sycophantic media rats, and ex players, who remember the “glory days” of EBTs and Murray’s fiscal madness.
The moonbeams of hope appear, on cue, every close season and the deludamol feeds their optimism!
Our fanbase in the Celtic family covers many age groups, from the older folk who remember plenty of dark days . To the younger ones, that have known constant success!
We all have different opinions, experiences to speak of and varying expectations.
Nevertheless, we are united in always wanting the very best for our club, in every season that we have the pleasure of witnessing, in our long and UNBROKEN history.
Unfortunately, the Ibrokes masses cannot speak in a similar way or outlook. They’ve had their days of success, built on false promises and an economic strategy that ultimately killed them.
Having to watch our success, as a Phoenix club, from the dark lands of Mordor, must be exceedingly painful, regardless of the fawning media, that attempt to decry us and glorify them , at every turn.
At some point, their takeover will become clearer ( if it happens,) and we shall all see what is to come.
Till then, denialism and delusion brings them hope!
Over in Paradise, sanity prevails and we have another treble to secure ! HH
First point, Don’t anyone naively assume TRFC will be constrained by UEFA rules Everyone should assume that TRFC will chance their arm to the limit and have a go at breaking every financial rule going ..The SFA we know will do nothing to stop them breaking the rules …It may take years for UEFA to catch them out and take them on through courts by which time they could have caused havoc and again ‘cheated’ their way to domination
Second I would be focussing my energies in articles a lot less on what the TRFC fan base care and think and more on what the CFC board are doing in response .
In business equivalent terms today CFC ‘own’ the Scottish football market ..It would be a dereliction of duty of any board in that position not to have considered and examined the continuum of possible outcomes ,which you describe above, of an imminent major move by hostile competition planning to take over that market leadership
The more cerebral thinkers in the TRFC support ( and yes there are quite a few of them will fully understand the various points of opportunity and risk on that continuum)
What is 100 times more important is that the CFC board know and understand it and are ready with a very strong proactive( not reactive) response
The adidas deal could me move number 1 , BR signed up move 2 ,early good summer signings move 3 and move 4 be ready to go really big late August if TRFC go big and make it to champions league
The CFC board are meant to be risk averse ..the biggest risk of all is sitting back doing very little ….somehow failing to make the CL group stages whilst their competition spend and they do qualify ….BR at that point would be half way out the door
Forget the TRFC Fans they are an irrelevance ..lets make sure the CFC Board are prepared for the challenge to their market leadership ,go big and go big early and show who is in charge and who owns this space
Maybe the San Francisco 49ers will change their colours to red and gold. Better still, maybe the 49ers will have a Vincent Tan on their board and change their colour from blue to green. Or sell the bigot dome and build a convent on it. A wish of mine for years.
James , if you’re still interested in nuclear war read Annie Jacobsen’s Nuclear War. In fact even if it’s not still a major interest, it’s a book everyone should read. It relies on a staggeringly broad and well informed range of senior US war planners to step out exactly what will unfold, minute by minute, in the event of a nuclear attack.
Tony, best book I read last year mate … and the audio version … Good God almighty.
Incredible. I couldn’t recomenned it enough.
This is why, if and when, things don’t go the way they are droolin over in say about 2 -3 seasons and there’s every possibility that’ll happen, we’ll see the impatience and doubt kickin in. They never exercise caution. Let them get on with it and hopefully our board will dae their job. As a sidenote, in their own despicable way, now that their supports hopes of us bein made bankrupt with the CA compensation have been shattered, they’re now turnin their hopes tae this penn state justice wishful thinkin. For sheer hypocritical, twisted, ugly minded hate, these people are unmatched.
Deny and lie, never explain why !!!
What I cannot ever comprehend is their ability to psyche themselves up so much and yet cope with disappointment after disappointment after disappointment as if it didn’t even happen…
It’s utterly, utterly crazy to the core…
If I psyched myself up for Celtic to win a big game or competition and they didn’t I’d be devastated for sure…
But never them it seems !