“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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Roddy
HH
Roy- Tinseltown my fav,and my brother in laws.superb
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Willie Wallace
HH
https://m.youtube.com/watch?v=4TluHF80wMs
Jamie mccart loaned to St mirrer, can’t see him making grade with us tbh. AJer is far better at same age if not youngerry hh
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Maestro
nobetterfeelingCSC
https://www.youtube.com/watch?v=7hqgC3W9GUI
Mary’s Prayer
Danny Wilson
hopeheplaystomorrowCSC
Wits:)
Been out of range for a while and been having a wee catch up. Got to the blog where everyone was talking about old cinemas.
Am shocked that nobody mentioned the Regal or the Kelburn.
Saw my first porno in the Regal, Come play with me with the late great Mary Millington.
More importantly, the Kelburn late nighters, booze and spliff fuelled nights with triple headers. The best of the lot was Woodstock, Floyd in Pompey and The Song Remains the same.
No ide what year it was but I’m guessing about 1981 ish.
Thick thick smokey atmosphere that you couldn’t cut with a cricket bat.
Paisley Cinema dot com
Crimson and Clover….Prince
https://www.youtube.com/watch?v=EsCyC1dZiN8
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1-2
cannonballkidCSC
Prince…Crimson and Clover….
https://www.youtube.com/watch?v=5nTEk_GvhKY
Sorry for being so rude.
Hello all my friends in Celtic and Mr Roy C.
Geez a bit o Zep…………………:_)
HH
https://www.youtube.com/watch?v=4WyChNh_p-E
Aztec Camera
paststeepedinshameCSC
ROY CROPPIE on 22ND SEPTEMBER 2017 9:27 PM
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Glavin
—————–
The Partick player is a dead ringer for Tommy Callaghan.
People thinking that we went start with our strongest available 11 tomorrow?! No chance!
I am sure the good lady of Padova sang this to you SOT
https://m.youtube.com/watch?v=5ixENFYRda8
P.E. – Don’t Believe The Hype
https://youtu.be/9vQaVIoEjOM
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0-2 Huns
historylessonCSC
Dundee FC wished Hoops fans a a safe trip home to Lochee after Wednesday’s game. Dannywilsoncsc
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Joe Craig
hunskelperCSC
https://www.youtube.com/watch?v=SaeLKhRnkhQ
Oasis
Cigarettes and Alcohol
HH
COWIEBHOY-9:42pm I sent him a few of my Lisbon lions tshirt photos last week when I was on holiday!no answer yet
Roses – Elephant Stone
https://youtu.be/jKDPv3ZLDjI
I gave you Prince (eventually) now hear the Queen…
https://www.youtube.com/watch?v=XHsnZT7Z2yQ
What’s the chances of Motherwell exorcising the the prostrate ghost of Stuart McCall and giving it to the HB’S, just as they gave it to the Dons last night?
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The Celts overrun Ibrokes…
againCSC
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Alfie
HH
Aretha
A tip for the huns.
https://www.youtube.com/watch?v=KtBbyglq37E
Faces – Ooh La La
https://youtu.be/–HaFAtC17U
https://www.youtube.com/watch?v=yaS3vaNUYgs
Foggy Dew
iwasdowntheglenoneEastermornCSC
MacJay…it would have to be a few rosaries…
https://m.youtube.com/watch?list=RDL8XQZYIiNgo¶ms=OALAAQE%253D&v=L8XQZYIiNgo
ACGR, now that you have surfaced, I think Pog was trying to get in touch with Skyislandfill, if you perchance have his mobile number, re a good place in Elgin to catch tomorrow’s game. That JJ is a bounder eh! HH
THETIMREAPER on 22ND SEPTEMBER 2017 5:04 PM
Bruno Alves spotted on a flight en route to Madrid apparently.
Big mans took a dive hahaha.
One nutter on Monkey Media thinks its a clever ruse by The Lunatic Dreyfuss.He thinks Alves will fly back tomorrow and play.
Dear God.
Nathan Porter on BBC alba
Walk on
Loch Lomond
Now Irish Rover
Great start too the weekend
https://www.youtube.com/watch?v=O-OnS3LPt0w
Thousands are Sailing
The Pogues
neverforgottenCSC
https://m.youtube.com/watch?v=NAH-HyIpneA
Inspired by one of Roy’s earlier photo’s, and all the Bhoys
https://youtu.be/n7RV6HHxv78
And for Mr ACGR, who i will meet up with one of these days….. :-)
https://youtu.be/hW_WLxseq0o
WEEBOBBYCOLLINS on 22ND SEPTEMBER 2017 10:16 PM
MacJay…it would have to be a few rosaries…
================================
Decades of the things , mate. Decades.
7 am in Sydney . The lad and I , and perhaps the dochter heading in for 9 pm K.O.
Believe me . The adrenaline kicking in already.
Painfully confident I am. Dangerous way to feel before a hun game.
But somehow pleasant.
:-)