Richard Northedge writes in the Director of Finances Online that Football finances have always defied logic but the union of Glasgow’s top clubs to outbid Sky for the Scottish Premiership television rights takes madness to new levels. Celtic and Rangers are supposed to receive the rights money, not pay it. The rights are back on offer following Setanta’s collapse and the clubs think the bid for them by Sky and Disney’s ESPN is too low. But pushing up the price makes no sense if the clubs have to pay the money. It is akin to asking Sotheby’s to auction one of your paintings – then going to the sale to bid up the price. It works if it pushes other bidders higher; it fails spectacularly if you end up buying your own painting. What the clubs seem to have missed is not only that Setanta went bust but that it went bust because it paid too much for football rights. The £139m was unsustainable then: that’s why a canny organisation like Sky wouldn’t offer that much then and won’t offer it now. Source : Read On