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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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  3. Cowiebhoy on

    Roy C

     

    2 other fantastic Bhoys in that photo at 10.01

     

    Johnny Doyle

     

    And Pat Stanton who was the real deal, even in his 18months with us

     

    Nae interest in KD after the way he acted with CRC in trying to get a signature

  8. Turkeybhoy on

    Cant be @ssed with people saying “Dont really care about tomorrow.Wednesday is more important.Rest the players”

     

    My ass.One game at a time.Do you honestly think that any of the team want to lose their Invincibles tag to the scum?.Even BR?.

     

    A drubbing,even a 1_0 win would send the team to Belgium on a high.

  10. Art of War on

    Paddysmarket- re:Alcudia

     

     

    Depends where in Alcudia mate.

     

     

    If beside the marina/pier there is a bar Shamrock Irish Pub just off Carrer des les Barques. There is an English pub beside it which will also show it. Manolo’s Restaurant is on corner so you won’t miss it.

     

     

    There is the Irish Tavern before you get there but it was shit. Further out beside Hydropark there is a few and at start of Alcudia is Jokers Irish Pub.

     

    However, due to early kick-off you’ll be abke to watch it anywhere.

     

    Hope this helps.

     

     

    Enjoy.

  15. Jobo Baldie on

    Hello again!

     

     

    2½ hours of my weekend that I’m quite glad I’ll never get back as I have just logged and emailed the 66 (so close!) folk who have already asked to be included in Last Man Standing 9. An overwhelming response, so thanks so much for your support. It all kicks off NEXT weekend so bags of time still to sign up. Just drop an ‘include me in, please’ email to cqnpredictor@gmail.com and we will get back to you in the next few days.

     

     

    Pwoud, wewey pwoud….

  24. Sandman on

    Big Bruno was 50-50 until he saw our game against Dundee.

     

     

    Top quality shitebaggery. Well worth the 25k a week Sevco are paying him (in IOUs).

     

     

    5-2 to us tomorrow. Get on it. Scotty to score both halves.

     

     

    If THIS doesn’t get you up for the savaging at the Circus Of Horrors, check yer pulse…

     

     

    https://www.youtube.com/watch?v=egcAHdxp6Pg

  27. Jobo Baldie on

    A few days ago someone on the blog suggested we ‘fill our boots’ as Celtic were EVENS at most bookies for tomorrow’s game. I stuck a tenner on (a lot for me!). We are now only 4/6.

     

     

    At the same time I checked out the odds for a bet I’ve been having a degree of success with this season – Celtic to win both halves. We were a vet attractive 7/2 (I wagered a whole £2!). Checked there and we are still 7/2 – so, fill yer boots!!

  30. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    FRIESDORFER,ACGR

     

     

    Sorry,should have said. I sent POGMATHONYAHUN and SKYISALANDFILL mail addys last night.

     

     

    All sorted,I think they’re just needing a quorum for a whisky sesh…

  32. macjay1 for Neil Lennon on

    ROY CROPPIE on 22ND SEPTEMBER 2017 10:24 PM

     

    I’m glad I’m not Jimmy Bell’s plumber tonight…

     

     

     

    EnjoyCSC

     

    ================================================================

     

     

    Cracker :-)

     

    Or…

     

    Crapper CSC

  35. Gordon64 on

    A win in Brussells would be our defining game of the season. Tomorrow’s game doesn’t come close to it in importance. Hh

  36. lymmbhoy on

    BMCUWP

     

     

    Down in Swindon next week…….where’s your recommendation for The Anderlect game?

     

     

    Thanks in advance

     

     

    HH

  37. macjay1 for Neil Lennon on

    GORDON64 on 22ND SEPTEMBER 2017 10:58 PM

     

    A win in Brussells would be our defining game of the season. Tomorrow’s game doesn’t come close to it in importance. Hh

     

    ====================================================

     

     

    In practical terms , yes.

     

    In emotional terms , no .

  38. Art of War on

    Paddysmarket- there is also an O’Malleys pub in same area but they didn’t have Premium sports (which the game was on), however they were helpful and pub looked good. Might be worth a crack. Good luck.

  40. celtic by numbers on

    stephbhoy on 22nd September 2017 9:48 pm

     

     

     

    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

     

    ————————————–

     

     

    If he can’t get in ahead of Bitton then I think you are right, HH

  41. Melbourne Mick on

    Hello again all you young rebels.

     

     

    ROY C. great stuff as per usual.

     

     

    Great night at our young bhoys league presentation here in Oz.

     

    Our big African striker picked up the golden boot for an incredible

     

    34 goals in the season and dedicated it to his hero Moussa, not

     

    bad for a 14 year old and he’s a couple of inches bigger than him, so

     

    i’ll be happy if MD plays tonight and Wed.

     

    H.H Mick

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