Optimism among the Celtic support is tangible right now. For much of last year the league title remained in the balance, but today, despite being promised a more taxing season, we’re miles ahead. You can get odds of over 40-1 on second favourites to win the title; the definition of No Contest.
As I noted yesterday, the transformation goes deeper than the heroics of Scott Sinclair and Moussa Dembele, neither of whom were material in the level of performance shown against Barcelona.
Achievements are often subject to reassessment at a later date and Celtic’s progress or otherwise over the last two years fall into this category.
A year ago, with a faltering Craig, Emilio, Efe, Dedryk, Stuart, Gary, James and others, we looked miles away from being a Champions League team. It turns out, we have a squad full of Champions League players.
Youth development hit the jackpot with Kieran Tierney, while John Park’s swansong signings, Erik Sviatchenko and Moussa Dembele, saw a return to form for our recently departed chief scout.
Money isn’t everything. Since 2004 it’s been clear on CQN that many Celtic fans have no interest in the game’s finances, all they are interested in is seeing an improving team on the park, but for the rest of us, the financial consequence of simply getting to the group stage this season is enormous. It makes accession to the same level next season so much more achievable.
None of that matters right now as we have the first cup final of the season coming up on Sunday. The litany of underachievement in this tournament stretches back to Jock Stein, who qualified for ever League Cup final during his 13 years in charge of Celtic, but after winning the first five, contrived to lose seven of the next eight.
I’ve seen a lot worse teams than Aberdeen knock us out of the League Cup, I hope nothing is taken for granted in the dressing room.
I’ve no idea what happened at the Newco AGM this morning but you’ll remember we discussed here the wisdom of launching a hostile takeover bid while a company is being driven into the sea by boycotts? More precisely, Newco was driven into the arms of the lender of last resort – Sports Direct. Sports Direct provided the cash that kept the lights on and picked up various rights and properties in compensation.
Offering a lender a shop at a rental of £1 per year for a decade seems harsh, but if the alternative is administration, there isn’t really an alternative. We didn’t know what the quid-pro-quo was for Ashley at the time, but we knew there had to be one.
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CONNAIRE12:
Out of curiosity and curiosity alone, when was your first big Celtic game that you attended. It just gives us a benchmark.
The Battered Bunnet on 25th November 2016 2:03 pm
The continued propensity for the Old Firm Celtic PLC board members to answer pertinent question’s with further questions especially AROUND an AGM should come us no surprise. I posit like Phil and JJ that if you were to ask a question and demand that the answer is not a joke or a further question you would eb character assassinated – even if it is off stage. Pity there was no wee joke in there. The diddy teams do what the Old Firm tell them what to do. Our PLC cannot wait until the problem is over so that they are not so Old Firm exposed.
HH
HH
TBB
If Domestic FFP were introduced and policed properly there might still be a TRFC, but not as we (or they) know it.
Good to hear other clubs wisening up. Aberdeen and Hearts after stadium development and Celtic to become the New Firm of Scottish football.
I’d like to see one club from Dundee in that city mix too but understand why it’s unlikely.
BMCUWP,
2-0 Kenny Dalglish the Manager.
I was in New York.
BMCW 1999-00 season. I was there iirc
:-D
AULDHEID on 25TH NOVEMBER 2016 1:27 PM
It’s even worse that the fact that the Business Plan and the Funding Plan are different. Dave King clearly states that the Board will run The Rangers by use of deficit funding for the foreseeable future:
”In supporting the prudent use of deficit funding, I recognise and understand that our shareholders are alert to the fact that the misuse of deficit funding was the prime reason that the liquidated company found itself caught up in the financial debacle that ultimately led to administration and that liquidation. It is therefore incumbent on this Board to outline to shareholders why we believe we should be trusted to run an operating deficit without a concomitant event risk that could lead to a repeat of the last few years.”
He goes on to say he doesn’t know how long this will last:
”Put simply, your Board recognises that we have to spend more than we earn for an as yet undetermined period, but this operating deficit will be prudently funded and managed. This need arose because, by whatever measure is used, it is clear that for a number of years prior to the year under review the Company consistently underspent – not only on the football side but also in all other areas of the Club. This sad state of affairs was destined to continue if shareholders had not finally lost patience and taken matters into their own hands by removing the previous board in its entirety. The operating deficit that we are now running is a necessary compensation for the under-spending in prior years.”
It gets even worse when it transpires that this modus operandi can only last as long as the incumbent Board are willing to keep funding from soft loans:
”To ensure that the deficit funding does not lead to an event risk the Board has not sought third party funding but has relied on soft loans from investors who clearly have the Club’s interests at heart and have advanced funds – and committed further funds – on an interest free basis and without security or the prospect of near-term repayment.”
At any time they can effectively pull the plug. If they don’t get Resolution 11 passed (allowing loans to be converted to shares at a later date) then their ability to bleed the support dry via Club 1872 will be greatly reduced and may bring the “plug-pull” even closer!
So here we have a member club of the SFA and SPFL who have recently posted a “Going Concern Warning” in their recent accounts openly admitting they cannot comply with the concept of Financial Fair Play; I wonder what the SMSM, the SFA and the SPFL will do about this?
KTF
Auldheid @ 1.27pm
“SFA reform is absolutely essential to ensure that in the next 5 years we do not see the risks to TRFC of not achieving a CL place being reduced by unfair means.”
________________________________
Says it all really. (5 years!!). We are now considering CL qualification. Weren’t they supposed to be going bust?
Interesting times. Over to you Messrs Lawwell @ Desmond.
Let’s see what happens…Thanks for your dedication and giving us the ‘heads up.’
________________________________
The Battered Bunnett,
The previous incarnation playing out of Ibrox were a rogue club supported and assisted by a corrupt administration for decades. Let’s hope times have changed and the Aberdeen’s, Hearts (?) etc of this world don’t roll over when told to.:)
Good afternoon all!
PRAECEPTA:
I’ve got all the boring Glasgow City Council Safety Sign Off Certificates on my Desktop here in Australia. Ibrox is signed off.
Boring and numbing State Aid mentality being deployed by some.
Aw Naw
If all Celtic are interested in is the money then does it matter if competition that drives up crowds comes from clubs other than TRFC?
If you are saying it’s TRFC that the Celtic Board are putting above else and it’s not for the money then that simply doesn’t wash.
It may have been true but the landscape is changing and if that new landscape is not costing Celtic to lose money then why would they put up with the crap that we/they have to?
What is the source for the information re Scott Sinclair`s injury ?
JJ
BMCUW
1967 and 2000 we beat the Dons in cup finals.
Auldheid 1:27
Very well said.
I hate watching Celtic at Hampden, either on TV or in person, because the view is crap. Also we have had a lot of crap results at Hampden. However, I’m excited for Sunday. This trophy is strategically important for BR as it could mean that he has secured his first silverware within half a season (thanks to the rescheduling of the League Cup). This carries on the feel good factor after going out of Europe, plus it puts out a signal that this team is less vulnerable in cup competitions.
It isn’t a foregone conclusion as the occasion is just as big for Aberdeen. But…I have a feeling in bones…or my water…or cartilage…or something…
KITALBA
The recently submitted Section 89 is a notice of intent to carry out remedial works. If it transpires that the Structural Engineers require to make ‘design changes’ – then it’s a forerunner to a Building Warrant Application.
AULDHEID,
because we put up with the crap not them
They have no new ideas and have relied on the Old Firm for circa 100 years. They do not want knew ideas. Bigotry and violence and Celtic men (customers) with rigid belief systems and a chip on each shoulder. It does not get better than that when you want to milk money
They will not permit the possibility of the New Firm. There will be no new landscape
For as long as you fools keep giving them your money.
HH
knew=new
KITALBA 1.10
Be advised kid, I ain’t no fekkin ” Nannie” !
big chance for Jamsie or Paddy to shine on sunday if Scott Sinclair is out.
we’llsee CSC
No problems at all re Sevco funding. Apparently Red Bull are going to be investing mega-millions.
Well, there is a sentence containing bull, Sevco and mega-millions investment:
Dave King’s £30m investment in Sevco is total bull***t.
VFR800
I hadnt read that but it’s an indication of the total unawareness that they do not exist in a vacuum .
Gerry McCulloch asked Rangers fans on Twitter what they thought of the AGM statement. I asked him if the same question should not be put to other fans as their clubs were put at a sporting disadvantage by deficit spending they could not/would not match.
I think football fans outside the blue hemisphere are much more aware of the role finance plays in on field success and the apparent policy of ‘overspend but not enough to risk insolvency’ will cause questions to be asked of their Boards as in why do we not do that and what makes it ok for them and where is the mone coming from?
If directors continue to provide funding in the form of loans, does the SFA require to see the evidence that the money came from the said director otherwise this money could be from any source.
BIG JIMMY:
Be advised Jimmy I don’t listen to shite or take it on board no matter how big the mouth is that processes it.
Jimmy, it is just the way I was brought up by my parents, my family and friends,
i.e.
you talk Shiite without proof, well you are a professor of shite nothing more, nothing less,don’t take it personal mate, I like you..
Kitalba
I don’t hate the Huns. I pitty them. But I’d love it, just love it, really really love it if that club finally succumbed, died and every hun was left greeting for 1690 years into their cornflakes blaming every man and his dug. I would, I’d love it.
And if their stadium does fall down around their heids then I hope it’s their heids and not the heids of travelling supporters, preferably the heids of the officials taking the risk with their own zombies.
MWD
dessybhoy on 25th November 2016 2:39 pm
No the SFA takes Sevco at it´s word. See WEE TAX CASE
HH
http://cdn.shopify.com/s/files/1/0561/0929/products/5963790401_040dfba79f_o_1024x1024.jpg?v=1412899242
KITALBA
Thankfully retired – but enjoy (on occasion) the company of a plethora of construction related professionals (Glasgow based) who love a chin-wag over a vino or two.
Nudge! Nudge! Wink! Wink!
Aw Naw
I’ve stopped paying until I see signs things are changing.
BR making noises that Sinclair will be given every chance to be fit for Sunday? Gamesmanship perhaps? If it’s anything hamstring relates would it not be better to take no chances?
*related
Obvs
AULHEID on 25th November 2016 2:38 pm
Those are direct quotes from his speech at the AGM today. He also acknowledged that the shareholders who are not fans (using Mike Ashley and the Easdale block as examples) aren’t interested in running the club by deficit funding! Colour me surprised as JohnJames would say!
As I said, if more than 75% of the shareholders don’t back their Resolution 11 the option to turn loans into share capital isn’t there. That makes the whole house of cards much les stable than it already is.
Can they really apply for a licence for next season with a financial model that expects an operating loss of more than £4M on the back of 2 consecutive losses totalling £10M and be granted it? Where is the line in the sand?
They have burned through in excess of £40M (I think) in their 4 year history when you take their £22M share issue into account. It is unsustainable and the fan must be starting to spin by now!
KTF
VFR200 2:20
I wonder what the SMSM, the SFA and the SPFL will do about this?
——–
Try “absolutely nothing”!
They will cover their eyes and close their ears and when it all goes wrong they will say they knew nothing about it.
In October 2009 Walter Smith said that the bank was running the club (yes, “club”!). Nobody did anything (despite the shambles with Livingston that close season).
Then when the excrement hit the air conditioning in 2011-12 they went into a blind panic and soiled their pants. Like it was a complete shock!
Same thing will happen again. The only difference will be that the new new club will “stay” in the top league.
PRAECEPTA:
Your last post is nothing more than puerile innuendo… is that the benchmark you would have others define you by?
Really?
Is your best worth not worth its worth above bigoted or biased contamination.
Or if all that a waste of print do you think the value of any man his worth nothing more than how much a vindictive man can diminish his worth.
Please think about it because it is a two way street. And wee bleat loudly when the traffic is against the arrows
WEEJOE
We did,indeed. Good spot.
In my defence,I’ve obliterated that season from memory!
CaltonT- i watched that final in The Parlour NY
KITALBA,
I take it that you would have no problems putting yourself and/or your family members that you refer to in any potential danger , when visiting any concert and/or football arena ?
Obviously you don’t have a problem with that possible scenario, but others fekkin do !
Away and throw shite at the moon kid !
GLASSTWOTHIRDSFULL on 25th November 2016 2:51 pm
I don’t think it’s quite that simple now; the spotlight is on them and their fiscal probity. They have admitted they are short of money this season and can’t balance the books without loans. They will go into next season in the same position most likely and that MUST raise questions.
If the siphoning of fans money from Club 1872 is no longer an option either then the appetite for continually plugging the gap may recede.
KTF
Auldheid on 25th November 2016 2:45 pm
Good I am glad to hear that.
I wish the entire support was less gullible
The idea that we need to be joined at the hip with them to maintain our superiority is nonsense.
This PLC will not survive much longer imho
HH
MOONBEAMS WET DREAM
Define Hate Mate? If you can. If you can try and paint hate without it being red MWD. Please.