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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. DD

     

     

    I have still got a couple of years to the half century :-) even I have a pass out the morra for a few hours both nephews have been in contact to see if I am joining them in their different companies but meeting a good friend and heading to the Blantir for a few, my mate is picking me up back of 10am, my older brother also textd to see what I was up to and my own pals are also out, plenty of season ticket holders amongst them all, will be lucky if one texts on Wednesday for the Anderlecht game :-)

  2. G64 12.11am

     

     

    Totally agree…. but this CL stuff is new to us and the youngsters, a lot of them are only just enjoying domestic dominance

     

     

    Am afraid we will never rid ourselves of tomorrow’s game BUT listen to Brendan, Moussa, Scott Sinclair and other players outwith Scotland, like it or not tomorrow’s game is an attraction for good players for Celtic anyway a win on Wednesday would be magic :-)

  3. macjay1 for Neil Lennon on

    A CEILER GONOF RUST on 23RD SEPTEMBER 2017 12:06 AM

     

    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?

     

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

     

     

    My motivation is simple .

     

    What is in Celtic`s best interests.

     

    I`ll be against ANY group which I feel damages the image and /or interests of Celtic.

     

    You see that as a witchhunt .

     

    I felt that there was the possibility that the ” nutter ” may have been a member of the G.B. and I said so .

     

     

    And ,yes I am desperate to protect the good name of Celtic no matter how much others may misunderstand my motivation.

     

    That`s all.

  4. Friesdorfer, BMCUW, Kikinthenakas, DD, ACGR your Bhoys will (unseen Fenian) hand out one hell of a beating to those zombie sevconites tomorrow.

     

     

    Thanks guys for sorting me out with Skyislandfill’s contact details, etc. You know you’re living the high life when you’re sleeping before Midnight and ACGR wakes you up with a phone call :-)

     

     

    bringbacklisboninmaycsc

  5. Melbourne Mick

     

    Too many years have passed since I was last in Forres. Pog is up there just now and may be able to answer your question. Keep up the evangelical work in Oz, and posting the latest adventures of your wee mhan et al- great stuff.

     

    HH

  6. GFTB

     

     

    My 4 weans in their 20’s are all on every social media platform. They banter with supporters of other Scottish teams, but with no Anderlecht fans. It is all about slagging the huns after we pump them, oneupmanship in Glasgow is their thing. I would rather we were more successful in Europe, and more excited about Anderlecht v Celtic than a tribute act v Celtic.

  7. Macjay,

     

    Hunnery surely! Hunnism, never heard it before.

     

    I also agree with Gordon re the new club. I give my ticket away when we play them, so I don’t need to listen to their support’s sectarian, racist chants.

     

    As a given, regulation 5-0 gubbing, (DBBIA), is expected why subject oneself to their vile invective?

     

    Younger support, I accept, may need the experience of pumping a team playing out of the bigot dome, but,

     

    IT ISNAE rANGERs.

     

     

    Eurochamps67

     

     

    GameagainstanderlechtisfarmoreimportantinsomanywaysCSC

  8. Melbourne Mick 12.06am

     

     

    Hope the wee mhan keeps banging the goals in tell him from me his big strike mate might think he is Moussa but the wee mhan is The Griff and too keep at it

     

     

    I just go on the people I speak to and like it or lump it The young team want to hammer the Huns (whatever version) every chance they get, they got brought up on the Ebters winning so it’s payback

     

     

    Keep the posts coming from the MorningtonCSC

  9. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    POGMATHONYAHUN

     

     

    ACGR is good at that,he never sleeps. Pulls 24-hour seshes at the drop of a cork.

     

     

    At our age,we need our beauty sleep-well,bit late for me!

  10. DD 12.21am

     

     

    That’s it in a nutshell, my nephew was around 14 when Brian Laudrop or McCann broke away and they beat us 1-0, he started crying “uncle do we ever beat them” his daughter is now 14 and in section 109 and loving us beating them at every opportunity :-)

  11. A Ceiler Gonof Rust on

    Macjay, enjoy the day and our utter dominance of the hun,

     

     

     

    Its a pity you come across as such a Nazi wanker.

  12. Have to agree with Turkeybhoy.

     

     

    Brendan has said he picks a team to win every game which as a Celtic manager he has to do.

     

    You don’t get to choose which one you prefer to win, you try your best to win them all, then see what happens.

     

    We have at least 18 players who are all first team players, and if the blog was asked to pick what we individually see as our strongest team tomorrow you would get several different teams.

     

    Horses for courses, form, fitness, opposition, tactics, previous record and many more aspects to consider when picking a team.

     

     

    Probably been that long since we lost to them that posters are forgetting how nauseating it would be to put up with the fallout.

  13. macjay1 for Neil Lennon on

    EUROCHAMPS67 on 23RD SEPTEMBER 2017 12:21 AM

     

     

    Well see there`s where we differ.

     

    I love to hear ” their support’s sectarian, racist chants “.

     

    I welcome the public demonstration of their vile bigotry as opposed to the ” out of sight soup supping movers and hand shakers “.

     

    The latter for me are the ongoing enemy not the poor sods on the terracing who know no better than the bigotry they have probably inherited .

     

     

    Having said that , I admire people of principle who have the courage of their convictions and act according to them .

  14. macjay1 for Neil Lennon on

    A CEILER GONOF RUST on 23RD SEPTEMBER 2017 12:29 AM

     

    Macjay, enjoy the day and our utter dominance of the hun,

     

     

     

    Its a pity you come across as such a Nazi wanker.

     

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

     

     

    Not to people who know me.

     

    Nevertheless , I don`t matter , mate.

     

    Celtic matter.

  15. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    We all know the huns are a blue parrot from Norway. But there’s no point in falling out about the game against them.

     

     

    Aye,Wednesday is way more important,but we “can only beat the team in front of us.”

     

     

    I’d rather never play them again,like most on here. But later today,a game of sorts will happen,like it or not.

     

     

    “AND THE GLASGOW CELTIC WILL BE THERE!!!”

  16. GFTB

     

    I was born at the start of Celtic 9 in a row.

     

    My 4 children were born at the start of, and during Rangers 9 in a row. They were used to getting it tight fae huns in the playground.

     

    Payback time for them now. Even if it is an Ibrox tribute act.

  17. IMG_0962.JPG

     

    Astonishingly good financials underpin on-field success 256

     

    BY PAUL67 ON 22ND SEPTEMBER 2017 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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    GORDON64 on 23RD SEPTEMBER 2017 12:11 AM

     

    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

     

    DBHOY on 23RD SEPTEMBER 2017 12:11 AM

     

    Pink Floyd – One slip…

     

     

     

    https://m.youtube.com/watch?v=tOPNa753e1E

     

    GERRYFAETHEBRIG on 23RD SEPTEMBER 2017 12:11 AM

     

    DD

     

     

     

    I have still got a couple of years to the half century :-) even I have a pass out the morra for a few hours both nephews have been in contact to see if I am joining them in their different companies but meeting a good friend and heading to the Blantir for a few, my mate is picking me up back of 10am, my older brother also textd to see what I was up to and my own pals are also out, plenty of season ticket holders amongst them all, will be lucky if one texts on Wednesday for the Anderlecht game :-)

     

    CELTIC CHAMPS ELECT on 23RD SEPTEMBER 2017 12:12 AM

     

    Great tunes Weebawbabbity thank you for your taste in music

     

     

     

    I have no doubt you like this band

     

     

     

    https://m.youtube.com/watch?v=-lbr1SgwIZk

     

    CELTIC CHAMPS ELECT on 23RD SEPTEMBER 2017 12:13 AM

     

    https://m.youtube.com/watch?v=E1_vsu2DyLs

     

    GERRYFAETHEBRIG on 23RD SEPTEMBER 2017 12:16 AM

     

    G64 12.11am

     

     

     

    Totally agree…. but this CL stuff is new to us and the youngsters, a lot of them are only just enjoying domestic dominance

     

     

     

    Am afraid we will never rid ourselves of tomorrow’s game BUT listen to Brendan, Moussa, Scott Sinclair and other players outwith Scotland, like it or not tomorrow’s game is an attraction for good players for Celtic anyway a win on Wednesday would be magic :-)

     

    MACJAY1 FOR NEIL LENNON on 23RD SEPTEMBER 2017 12:16 AM

     

    A CEILER GONOF RUST on 23RD SEPTEMBER 2017 12:06 AM

     

     

    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?

     

     

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

     

     

     

    My motivation is simple .

     

     

    What is in Celtic`s best interests.

     

     

    I`ll be against ANY group which I feel damages the image and /or interests of Celtic.

     

     

    You see that as a witchhunt .

     

     

    I felt that there was the possibility that the ” nutter ” may have been a member of the G.B. and I said so .

     

     

     

    And ,yes I am desperate to protect the good name of Celtic no matter how much others may misunderstand my motivation.

     

     

    That`s all.

     

     

    —–

     

     

    Today, Celtic supporters were nominated for a reward. The display which merited this proposal was created and set up by the Green Brigade.

     

     

    It was paid for by the members and the wider Celtic support.

     

     

    That’s all.

  18. DD 12.41am

     

     

    Maybe it’s selective memory but I loved the late 80s & 90s might not have been the most memorable trophy wins but centenary season, 1989 cup final stopping the cheats treble and 1995 Tommy Burns then stopping 10 there is 5 trophies that were worth more memories than 20 :-) then the 2000s started with 6-2 happy days

  19. macjay1 for Neil Lennon on

    HAMILTONTIM on 23RD SEPTEMBER 2017 12:48 AM

     

     

    Celtic , open to all , used to have Jewish supporters .

     

     

    How many do you think we have now ?

  20. HT

     

     

    Ma name is bad enough without you copying and pasting it as well :-)

     

     

    Hope you & Mrs HT have a great weekend away and more importantly you enjoy yourself in the Broomloam road end the morra

  21. Macjay

     

     

    I have used the people I know in the discussion about the Glasgow Derby tomorrow so it’s only fair to use these sane and that is not ONE person I know that goes to Celtic park have a bad word to say about the Green Brigade and in fact it’s an attraction for most of them, especially our supporters of the future