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Astonishingly good financials underpin on-field success

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“Astonishingly good”, does not even begin to tell the story. Celtic’s financial record for the year to 30 June 2017 is a work Michelangelo would be proud of. Income topped £90m for the first time. Your eye may have been drawn to the leap from the previous years’ turnover, £52m, a figure achieved without Champions League football, but that only tells part of the tale.

Turnover had never previously reached £80m, peaking just shy of £76m the season we beat Barcelona, sold 125 Anniversary merchandise, and earned north of £5m for reaching the Champions League knockout stage.

Champions League income was most significant contributor, but there has been considerably going on. Commercial income rocketed. You saw Dafabet step forward, with Magners finding new real estate on the shoulders of the strip. These front-and-back of the shirt deals were not only innovative, they funded the risk Celtic were prepared to take in signing Brendan Rodgers as manager.

With Brendan’s contract funded, Celtic brought their chips to the table. £13.8m was invested in the playing squad, a figure we would consider eye-watering at any previous point in our history. Progres to the group stages of European football is never guaranteed, but the building blocks were in place to ensure we had a sporting chance.

The consequence of all this is Invincibleness. We didn’t deliver the country’s first undefeated treble because we have some magic potion, it happened because we are significantly better run and more resourceful than all domestic competitors. No team has ever enjoyed this degree of comparative advantage in the history of sporting endeavour in Scotland.

At year-end our net cash position (bank balance minus loans) was £17.9m It is easy to consider this as a reserve, but it’s not. Our reserve is our available borrowing facility (as it always has been). The cash balance will be used to build infrastructure, keep the stadium safe and appropriate, and deliver a stronger team on the park (and for those thinking money in must be spent in the next available window, it just doesn’t).

Back in the old days, I would benchmark our accounts against Rangers, whom we were engaged in a football arms-war with. We’ll do that with Newco when their figures are available, as it will only tell you the reasons behind what you are seeing. Newco’s turnover for the previous year (lower league football), was £22m. We will turnover a magnitude of three times as much as they do. It is as appropriate to compare us to Kilmarnock.

I get to see a wee bit of the stresses and strains of what it takes to produce a successful football club in a challenging environment – and we operate in a very challenging environment. The commercial deals we have delivered are incredible. Ticket sales have been just as remarkable.

We have a great deal to do if we are to match last season’s domestic success in the current campaign, but all other things being equal, turnover will be up again this season. A win on Wednesday night and £100m just might be within reach.

Well done to all of you.

‘YOU’RE NOT RANGERS ANYMORE,’ ROCK STAR PAUL GALLAGHER

To get you in the mood for tomorrow we thought we’d re-post the launch edition of the CQN Podcast – A Celtic State of Mind, for you to enjoy. If you missed it the first time around you are in for a real treat.

You’ll love Paul Gallagher’s Celtic stories and will enjoy his digs at Sevco Rangers, specifically his forcefully stated views on the same club myth.

Paul is featured in the second half of the podcast if you want to jump forward…

The CQN Podcast is presented by Paul Dykes with Kevin Graham and you can catch up on all the subsequent podcasts on Celtic Quick News.

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  1. Very disappointed that there was no mention of “amortisation”.

     

    It’s what brought me to CQN.

  2. Great results off field putting us in another stratosphere from the rest of Scottish football. Well done Peter and the board for the work carried out in the background to help make this happen and for the successful appointment of Brendan.

     

     

    Why we still feel the need to price out a high proportion of our potential fan base is still beyond me though! With an advantage this big we should be rewarding fans for their efforts and support of club and accommodate the less well off with a better pricing structure.

     

     

    MWD

  3. BOURNESOUPRECIPE on 22ND SEPTEMBER 2017 4:15 PM

     

    Alves blow for Celtic?

     

    It truly is as he is mince.

     

    He may once have been a decent tackler but can’t get close enough to opponents anymore to do so,

     

    Personally i think he knows the difference between teams and has shat it.

     

    Of course they have a guy who is the best centre half in the world replacing so a huge upgrade for them.

     

    His ability is here for all to see at 1 minute 57 seconds of the clip below.

     

    https://www.youtube.com/watch?v=45QP5WM0Tsk

  4. embramike says ” Yer team’s deid…Beat it!” on

    Jamie McCart joins St Mirren on an emergency loan

     

    By: Newsroom Staff on 22 Sep, 2017 16:22

     

     

    CELTIC defender Jamie McCart has joined St Mirren on an emergency loan until December 23 this year. The 20-year-old will be part of Jack Ross’s squad, who have started the season well and are up near the top of the Championship table.

     

    Jamie, who spent the second half of last season on loan at Inverness Caley Thistle, said: “I’m excited to be at St Mirren and to get the opportunity for some more first-team football. Hopefully I can come in and prove myself in the team and progress as a player.”

     

    Everyone at Celtic wishes Jamie every success during his loan spell at St Mirren.

  5. See if Rangers FC really died…..

     

    why then, did Celtic PLC agree for, Celtic supporters to have to pay £49 to watch Celtic FC playing a new club ?

     

    Ah mean, the Celtic PLC didn’t agree to a deal where, Celtic supporters had to pay £49 to watch a new club called, Gretna FC ¿¿¿

     

    Bottom line is,…..who are the “real” mugs ?

     

    Scooby Dooby! Doo!

     

    Dear, dear….

     

    …..oot.

  6. MWD

     

    I don`t know what Rolls Royce`s figures are like but they also price out a high proportion of Celtic fans :-)

     

    The one that I don`t understand, if it is , in fact, accurate, is the £49 to watch Sevco at Celtic Park.

     

    Do our non ST holders pay that amount or is it only Sevco fans> If the latter, who gets the money?

     

     

    JJ

     

     

    PSBe quick with any responses…..it is time for me to go for a pint :-)

     

     

    PPS Why does my Spellcheck insist on not accepting ` Sevco` as a real word ?

  7. What is the Stars on

    But what would Brother Walfrid say about our astonishingly good financials

     

     

    What should it profit a man if he gains the whole world but loses his soul……perhaps

     

     

    Devils Advocate CSC

  8. GlassTwoThirdsFull on

    “No team has ever enjoyed this degree of comparative advantage in the history of sporting endeavour in Scotland.”

     

    ——-

     

    Not from using their own money at least!

  9. Known the world o’er. Meet lad from Kerala on tour bus here in Milan. It was the fact that I was wearing my Lourdes cap that caused him to speak to me.

     

    He asked if I had visited the San Siro. I said not the new one. He hopes to visit Old Trafford some day. Asked who I supported? The moment I said Celtic, he replied, ‘ Ah, Brennan Rodgers.”

     

    We are the Celtic known and revered the world o’er.

  10. The Celtic goal against St. Johnstone merits its place in this grroup. There are 3 goals that might beat it on merit rather than on bloc votes by clubs with large fan bases.

     

     

    In reverse order

     

     

    3) Oscarine Masuluke- an overhead kick from a tall keeper up for a desperate last minute attack for Baroka FC in S. Africa- rated because of the unexpected quality rather than for its true quality

     

     

    2) Olivier Giroud’s overhead back heel against Crystal Palace- a fine and faster build up than ours topped by an equally outrageous finish.

     

     

    and my favourite-

     

    1) Alejandro Camargo’s volley from his own half from a keeper’s clearance for Universidad de Concepcion. Just getting that ball to go forward is difficult enough. To place it on target and at a trajectory that the keeper could not defend is unbelievable. Degree of difficulty is equal to Pedro caixinha’s continuing battle with the nglish language and logic in general.

     

     

    If Moussa were to lose, I’d prefer it to be to Camargo but I have to admit Giroud’s goal is a cracker too.

     

     

    Uefa will probably give it to the Venezualan girl who scores straight from kick off but the keeper was useless there.

     

     

    Vote for Moussa!

  11. GlassTwoThirdsFull on

    Just goes to show how much Celtic need a “strong Rangers”. Wonder if Mr Souness might want to comment?

  12. Celtic’s increase in income is hardly rocket science to figure oot.

     

     

    It’s what professionalism, positivity and entertainment bring to any endeavour.

     

     

    Step forward Brendan Rodgers and assistants.

     

     

    Something our CEO is learning on his feet with regards to speculate to accumulate. The other aspects of his acumen were never in doubt.

  13. i'vehadtochangemyname on

    as the great man once said

     

     

    ‘My brother knows Karl Marx

     

    He met him eating mushrooms in the people’s park

     

    He said, “What do you think about my manifesto?”

     

    “I like your manifesto, put it to the test-o”

  14. Some great posts especially Corkcelts earlier today regarding old Rangers during the years when we all went to Ibrox .

     

     

    Possibly an early visit for me I was in the stadium was when Bobby Lennox was asked ‘ when did you know your leg was broken?’ to which he replied,

     

     

    ‘when I saw him coming’ (John Grieg)

     

     

    I was there many more times notably the night Joe Craig nearly burst the net, and from there as we know now it went downhill for our old Glasgow rivals all the way to floatin pitches, casinos, the pennyless arcade of today and tomorrow.

     

     

    In between, our goalkeeper was Celtic legend Ian Andrews ( bless him ) and Gers’ new star man was called Ray ‘Butch’ Wilkins fresh from AC Milan to Govan and I don’t need to remind CQN oldies of the outcome.

     

     

    Roundly defeated, thoroughly cheated, and shamefully treated.

     

     

    Celtic sides occasionally broke the EBT stranglehold back in the day but a *Rangers * handicapped by rules and regulations will again prove no match for us.

     

     

    p.s. options Paul67?

     

     

    Gordon

     

    ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

     

    Lustig:::::Simunovic::::: Boyata::::Tierney

     

    ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

     

    :::::::::::::: Brown:::::: Ntcham::::::::::::::::::

     

    ::::::::::::::::::::::::Rogic::::::::::::::::::::::::::::::

     

    Forrest:::::::::::Griffiths:::::::::::::::::Sinclair

  15. mild mannered Pedro delgado on

    Kevin aloysius patrick jungle

     

    U are one naughty bhoy

     

    Rangers did die

     

     

    Their followers started up a new club

     

    Both these entities were and are our enemies hence the £49

     

     

    Go wash your scoobie doo pyjamas and stop being naughty

  16. There are only four certain starters tomorrow, Gordon, Tierney, Brown and Sinclair. The other seven places will come from Ralston, Lustig, Simunovic, Boyata, Bitton, Ntcham, Armstrong, McGregor, Rogic, Forrest, Roberts, Dembele and Griffiths. Not a bad group to choose from,

  17. Really poor stuff by Pedro and the media lackeys putting ridiculous pressure on the young lad McCrorrie tomorrow. Shameful. Hh

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