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Astonishingly good financials underpin on-field success

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By on CQN BLOG & Comments

“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. Sionnach Abu on

    Anyone else listening to George Galloway on Talk Radio? That was brilliant!

     

    Gives a double mention to the New York Fenian Bhoys threatens to break into The Soldiers Song. and rubbishes the lads mention of “Rangers”.

     

    “Where have you been? Rangers don’t exist anymore. Dead. Liquidated. Hail Hail!!”

  3. big archie on

    Paul 67.

     

    progres……….

     

    Love it.

     

    Thank you for CQN…

     

    Enjoy the game tomorrow..

     

    Let the people sing……

  12. Cowiebhoy on

    Gooood Evening CQN

     

    Reagan, Dickson & Bryson still in roles at FtSFA ?

     

    Have to say I wouldn’t mind Celtic spending some of that £17.8m cash pile, clearing out the SFA through legal means – sue them.

     

    On another point

     

    Bayern Munich not that impressive there, our pace will give them problems – I hope

     

    And don’t risk any of our suspect players in that game tomorrow, more important we have Simunovic and Dembele ready for Wed game

     

     

    Hail Hail

  16. What is the Stars on

    Lads

     

    Anyone heard anything from Roy Croppie recently.

     

    Hope he is ok.

     

    I miss his Celtic Photos

  19. rpmcelticfan on

    Evening all :) A wee song for tomorrow .GRIFF SONG ( Pinball Wizard – The WHO )… Ever since he was a young boy , he just loves scoring goals , from Livingston to Celtic he’s always played that role , some people just don’t like him , but he doesn’t care at all , cos by the full time whistle he’s scored the winning goal …….. He may be small in stature but he plays just like a dream , his left foots made of magic he always strikes it clean , and when we go to ibrox he puts the Huns through hell , cos when they call him thumbheid he scores with that as well ……… Hes a football wizard he never seems to miss , his names Leigh Griffiths but we just call him GRIFF……..

  23. Paddysmarket on

    Guys I know it is a bit of a long shot but any help would be

     

    greatly appreciated need some help in finding somewhere in

     

    Alcudia to watch the game tomorrow. HH

  25. weebobbycollins on

    No matter who Brendan picks tomorrow, some optimistic huns will feel they have a chance…however, when they look at our bench their optimism will undoubtedly drain…

  26. Gary67 on

    Tomorrow’s team, according to someone on the HB who seems sure

     

     

    Gordon

     

    Lustig Simunovic Boyata Tierney

     

    Brown Armstrong

     

    Roberts Rogic Sinclair

     

    Griffiths

     

     

    Find out for sure in about 13 hours

  33. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    Me and Wee BGFC in fits laughing here…

     

     

    Sky Sport News SPFL Banner – interview with Wes “The Cat” Fotheringham.

     

     

    “Can we go toe to toe with them this time? Of course – it’s two good teams head to head.”

     

     

    He has certainly caught Rainjurzitis :-)

     

     

    HH

     

    BGFC

  34. johnbay on

    Looking for a bit of advice, My lad is playing at Norwood (dumbrek road) tomorrow ko3pm so trying to juggle our game and his.Have googled and nearest pub is the Quaich bar Coustonholm Road Is this a safe haven to watch.

  36. macjay1 for Neil Lennon on

    The game against the huns is ” just another game” .

     

     

    Jock said ” Just the two points . Same as every other game ” .

     

    Oh,aye ?

     

    Jock knew fine and well just how much this game means to the punters.

     

     

    The only time Cheers bar in central Sydney is jam packed is for the hun game.

     

    Tiny demographic but you get the point .

  37. Cowiebhoy on

    Fairhill bhoy

     

    I just dropped Marspapa a text message 10 mins ago

     

    The numpty still hasn’t responded

  40. A Ceiler Gonof Rust on

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

     

    ……………………..

     

     

    I hope you were all quick wi yer responses cos the last time the auld bastart said that was last Friday night. How do I know this?

     

     

    Cos he was pished as a fart on the drive down to paradise on Saturday.

     

     

    HH the JJ living life on the edge………………..:_)

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