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The Scotsman 03/03/1994
By Gordon Milne
PATRICK NALLY, the man at the heart of the Celtic board's attempt to move the club to Cambuslang, last night gave warning that its Swiss backers could be reconsidering their involvement.
''Put it this way – if I was Gefinor, I would certainly be having second thoughts,'' he said. Mr Nally, managing director of Stadivarious, which is putting together the funding for troubled Celtic's controversial proposal to move to Cambuslang, said last week that Gefinor was behind a 20 million finance package.
On Tuesday, Gefinor denied that any agreement had been concluded, plunging the Celtic board and fans into yet more confusion.
Last night Mr Nally said Gefinor were only ever providing bridging finance for the stadium construction and there was no formal link with Celtic. Yesterday the Geneva-based merchant bank was said by Mr Nally to be ''absolutely shocked sideways'' by the hostile reaction to the Celtic board's plans.
''I don't know what their view is – at this present moment I'm obviously waiting – but my own instinct would tell me that they'd be very concerned. Why enter the arena when there's all this emotion and venom and backbiting and conspiracy? It seems a very silly thing to want to do.''
He said that there was no reason for Gefinor to have a contractual relationship with Celtic. Its interest was entirely towards construction finance.
Mr Nally defended his decision to name Gefinor at last Friday's news conference announcing the board's plans to float the club on the stock exchange. He said he had been under pressure to be more open about the funding package in an attempt to garner support.
''In many respects I think it was a naive decision to try and be open. Maybe it would have been better to say nothing and carry on in the same old clandestine way.''
Mr Nally said the Gefinor role was no more than bridging finance, and that ultimately the commercial rights of Cambuslang would be sold on to commercial sponsors.
''But you can imagine what would happen if we were talking to high-profile sponsors in this environment. The machinations of the media would absolutely terrify them. No company would subject themselves to that.''
Asked how it would all be resolved, Mr Nally replied: ''Have you got your crystal ball there?''