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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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422 Comments

  1. Macjay I fail to understand why Celtic supporters attribute more importance to the bigot fest than any other game we play especially a massive champions league game. I suppose it says more about their priorities. Hh

  2. BMCUWP/ACGR

     

    Just seen your last, sent Pog’s email address to ACGR, hopefully they will connect. Thanks for help.

     

    HH

  3. GORDON64 on 22ND SEPTEMBER 2017 11:18 PM

     

    Bada VP isnae allowed drink in ma hoose. Hh

     

     

    His nickname is The Exorcist,as he takes all spirits oot the hoose:))

     

    #hereallweek

  4. Paddysmarket- not a problem.

     

     

    Can i ask where you staying?

     

    We were in Globales Condes- all incl.

     

     

    Wish i was there now :-(

  5. Logged on to the blog at 10 and just caught up, because the amazing RC was inda hoose.

     

    Great foties and tunes mate thanks.

     

    Tomorrow’s game to me is insignificant to me, compared to Wednesday’s game in Belgium. Hope we destroy the hun, but would prefer an away win in Brussels.

  6. SANDMAN 10-45pm

     

    The Dropkick’s brilliant ! Hoping for a nice double tomorrow we hump sevco and Girvan beat the Brora version in Scottish cup !

  7. FRIESDORFER/POGHMAHON

     

     

    Just catching up now on previous posts about the Beastie

     

    in Forres and a good mate of mine Robbie S. had taken over

     

    that pub, we worked offshore together and i’m wondering

     

    if he’s still there as i’ve not heard from him since i moved to Oz.

     

    H.H Mick

  8. macjay1 for Neil Lennon on

    GORDON64 on 22ND SEPTEMBER 2017 11:16 PM

     

    Macjay I fail to understand why Celtic supporters attribute more importance to the bigot fest than any other game we play especially a massive champions league game. I suppose it says more about their priorities. Hh

     

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

     

     

    But some of us do , Gordon.

     

    I appreciate that there may be little logic in it.

     

    I also think that payback is a perfectly normal and therefore defensible human trait .

     

    On the other hand , I respect those who , perfectly logically , feel differently.

  9. A Ceiler Gonof Rust on

    Friesdorfer, both parties are in touch with each other. I’ve spoken to each of them tonight and they both say……………………………………..the huns are shite and will be rodgered via the botty box on the morrow.

     

     

     

     

    HH Bruv

  10. Macjay 11.41pm

     

     

    I have a feeling there are many more who care than don’t, the younger fans I know don’t even discuss the Sevs being a new klub, they want to hammer the old klub, I try to enlighten them about Res12 & the cheating, they don’t give a flying fluck, I would love to beat Anderlecht on Wednesday but I can assure you ask any Celtic fan under the age of 30 and I bet you 99% would rather hammer the Huns, my opinion is only based on people I know (Young & old)

  11. macjay1 for Neil Lennon on

    GORDON64 on 22ND SEPTEMBER 2017 11:56 PM

     

    Macjay A nonsensical response which is fine if you stay on the the other side of the world. Hh

     

     

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

     

     

    As I said.

     

    ” On the other hand , I respect those who , perfectly logically , feel differently.”

     

     

    So , perhaps you`re right. Maybe the respect was unjustified.

  12. GFTB

     

     

    Both my sons and both my daughters are more interested in tomorrow’s game than Wednesday in Belgium, unlike me. They are all under 30, and I am over 50, so your theory might be correct. Macjay isnae under 30 though. :))

  13. G64 11.59pm

     

     

    Fair play, am just going by the reaction of friends & family, I can assure you tomorrows game is massive for a lot more Celtic fans than the fans who say it’s just another game or they aren’t interested, again Anderlecht is far more important result wise bit not for many of our younger fans

  14. A Ceiler Gonof Rust on

    Macjay, how is your witchhunt v the Glorious Green Brigade coming along:………..hpsssssst

     

     

    Did you manage to link the wee nutter that got into the PSG game yet?

     

     

    You were desperate to make that but it just didn’t work out for you. Did it?

  15. GERRYFAETHEBRIG

     

     

    Totally agree with you and MACJAY, over here our CSC is

     

    inundated with requests for tickets for the ragers game, as

     

    for the res12 & the cheating most are ambivalent towards

     

    it all but must admit when Regan refused a JR it seemed to

     

    spark a lot of anger with people asking how they could fund

     

    it :-))

     

    H.H Mick

  16. macjay1 for Neil Lennon on

    GERRYFAETHEBRIG on 22ND SEPTEMBER 2017 11:54 PM

     

     

    Frankly , I am perfectly comfortable about wishing to humiliate an institution which has played a crucial role in the anti Catholic bigotry which many of us were subjected to over the years and probably still are.

     

    The fact that the Ibrox institution pays lip service to ” anti bigotry measures ” these days impresses me not in the slightest .

     

     

    Scratch the surface of today`s hunnism and you`ll find yesterday`s hunnism.

     

     

    Come on , Celtic.

     

    Do them good and proper.

  17. Gftb Fair comment. It saddens me that after their liquidation younger supporters give this abomination of a game greater priority than a huge CL game. Hh