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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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  1. MACJAY1 FOR NEIL LENNON on 23RD SEPTEMBER 2017 12:51 AM

     

    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 ?

     

     

     

    ——-

     

     

    Answer my point.

  2. Gerryfaethebrig

     

     

    Looking forward to it tomorrow but this isn’t the big one this week Gerry.

     

     

    Wednesday is huge it’s what and where we aim to be.

  3. GFTB

     

     

    I will never forget the joy of returning to my house after winning the league against Saint Johns Toon. 4 weans and wife in Celtic shirts and flags and scarves pinned on Living Room walls. Party food in and tunes on. What a night. God bless, Wim, Henke and Harald.

     

    My weans first title party. :)

  4. HT 12.59am

     

     

    Like G64 earlier totally agree, Anderlecht reminds me (hopefully) of Ajax under MON, a wee 1-3 would be magic, tomorrow is what tomorrow will always be…… as you say our football aspirations are more than that …. but still want to hammer them but still think the younger fans amongst us are more interested in the next game …. roll on Tuesday, European football after Christmas and maybe a wee trip to Lyon in May’18

     

     

    May as well go to bed dreaming :-)

  5. DD 1.03am

     

     

    Stopping 10 was amazing, even more so we didn’t realise how good Henrik was going to be, great title win for your wee yin….

     

     

    Always wondered how good Wim could have been, who knows, who cares he got the job done :-)

     

     

    my daughter is spoiled without showing too much interest she just thinks Celtic wins all the time, she doesn’t ask the score, she asks who scored for us ? Hope the children of today don’t get too complacent our defeats made us :-)

  6. Gerryfaethebrig

     

     

    Tomorrow Celtic go to this country’s most prevalent espouser of racism, sectarianism and bigotry.

     

     

    Pope Francis today spoke of his disgust at those who don’t accept and agree with the ‘Refigees Welcome’ view.

     

     

    I’m sure Walfrid would back this.

     

     

    So so sadly there are Tims opposed to this.

  7. macjay1 for Neil Lennon on

    GERRYFAETHEBRIG on 23RD SEPTEMBER 2017 12:56 AM

     

     

    I understand that , Gerry.

     

     

    I feel differently.

     

    I do not like the price Celtic have paid and continue to pay for the use Celtic to promote their political opinions.

     

    And neither do Celtic F.C.

     

    I`m in good company.

     

    Not that your`s isn`t.

     

    :-)

  8. GFTB

     

     

    I was sitting beside Wim Jansen and his wife in Amsterdam Arena. Great 3-1 win that night. Wim was raving about Didier Agathe.

     

    I am booked up for Allianz Arena. Praying for similar score to that wonderful night in Amsterdam.

  9. Given that the Rangers’ players will be on the edge of psychosis tomorrow a draw or even a defeat is unlikely, but not impossible.

  10. macjay1 for Neil Lennon on

    HAMILTONTIM on 23RD SEPTEMBER 2017 1:18 AM

     

     

    Mate.

     

    Do you read the newspapers about those accused of recent bombings in U.K. ?

     

     

    Does Pope Francis ?

     

     

    We know where we stand . We don`t agree.

     

    So I don`t think a long drawn out debate is in anybody`s interests.

     

     

    I leave you with this.

     

    Refugees welcome.

     

    Murderous terrorists not.

     

    How do you tell the difference ?

  11. Macjay 1.19am

     

     

    No bother at all, being a Celtic fan doesn’t necessary mean you have to like the GB but a lot if fans do, I think the GB so far more good than bad but again each Celtics fan is their own Celtic

     

     

    HT cannot disagree at all but we. Am only donour own wee bit, even liquidation won’t change that “institue” I just mean our younger fans want to humiliate whatever team emerges from that entity

     

     

    On a political point on a day to day basis there is plenty of hurdles to overcome before anybody gets near a football park ….. times are a changing slowly and hopefully for the better

     

     

    Just you enjoy your long weekend :-)

  12. MACJAY1 FOR NEIL LENNON on 23RD SEPTEMBER 2017 1:27 AM

     

    HAMILTONTIM on 23RD SEPTEMBER 2017 1:18 AM

     

     

     

    Mate.

     

     

    Do you read the newspapers about those accused of recent bombings in U.K. ?

     

     

     

    Does Pope Francis ?

     

     

     

    We know where we stand . We don`t agree.

     

     

    So I don`t think a long drawn out debate is in anybody`s interests.

     

     

     

    I leave you with this.

     

     

    Refugees welcome.

     

     

    Murderous terrorists not.

     

     

    How do you tell the difference ?

     

     

    —-

     

     

    Not a problem. However, realise that if you ever espouse the views of Our Holiness in future then you’re guilty of gross hypocrisy

     

     

    When thousands sing Irish Republican songs tomorrow, realise that they represent a large section of the Celtic support.

     

     

    Night all, Hail Hail.

  13. Macjay

     

     

    How do you stop Brit born terrorists?

     

    That is reality today. Born in England terrorists the majority of bombers now.

     

    Blame the refugees fleeing bombs in their country is lazy journalism. A lot of shite in fact.

  14. DD 1.23am

     

     

    Have been following the Munich tickets posts, only ever been to one away game Ekeren, best (only trip) in Europe following Celtic, always fancied Germany need to wait till the wee yin is a teenager and she wants me out of her sight, if we ever get Dortmund would not miss that, am sure Munich will be fantastic… and who knows a wee 0-1 would make sure a few Fustenburgs would be sank :-)

  15. 9 hours and 16 minutes to finding out the Team.

     

     

    Every game now it is so exciting to see who is playing, formations are being brought into the excitement. :)

     

     

    I reckon 3-5-2 Today.

  16. GFTB

     

     

    Managed to get 7 for Allianz Arena. 6 guys on here sorted. Looking for more if you hear of any going. Lionsroar missed out on the last one by an hour. Friesdorfer, WITS, BGFC and Gearoid all looking.

  17. macjay1 for Neil Lennon on

    HAMILTONTIM on 23RD SEPTEMBER 2017 1:35 AM

     

    Not a problem. However, realise that if you ever espouse the views of Our Holiness in future then you’re guilty of gross hypocrisy

     

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

     

     

    Frankly ,His Holiness is a worry.

     

     

    Climate change ?

     

    Refugees ?

     

     

    Render unto Caesar the things that are Caesar`s and unto God the things that are God`s.

     

    Or does that not apply any more ?

  18. DD 1.46am

     

     

    That’s some going, hopefully a few tickets become available over there am sure it will be a magic trip, scary in the park but that’s where we want to be…..

     

     

    Fellow Celtic fans good night n God bless, we live in great Celtic times

     

     

    Macjay enjoy the fitba with your bhoy

     

     

    Hail Hail

  19. macjay1 for Neil Lennon on

    DELANEYS DUNKY on 23RD SEPTEMBER 2017 1:36 AM

     

     

    Really don`t know where to start.

     

     

    There are inhabitants of U.K. and Australia , and some who wish to enter , who hate those of us who are not Muslim.

     

    You surely know that to be a fact .

     

    What do we do about that fact ?

  20. macjay1 for Neil Lennon on

    GERRYFAETHEBRIG on 23RD SEPTEMBER 2017 1:52 AM

     

     

    I fully intend to , mate.

     

    Thanks.

  21. We will see soon enough – they have brought out their biggest player for the occasion

     

     

    FES is a very vindictive Company, I heard a good dude and what they done to him – he wis a Rangers supporter, I’m not sure he is even interested in thems now. :))

     

     

    Just found out he was a Rangers dude this week. Great Dude.

     

     

    Worked with him over the last few years, up in Rosyth and currently in Scotstoun.

     

     

    There are a lot of really good Rangers people, IMO.

  22. macjay1 for Neil Lennon on

    PETEC on 23RD SEPTEMBER 2017 2:07 AM

     

    There are a lot of really good Rangers people, IMO.

     

     

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

     

     

    Hear hear , Pete.

     

     

    The institution is the problem.

  23. macjay1 for Neil Lennon on

    PETEC on 23RD SEPTEMBER 2017 2:20 AM

     

    macjay1,

     

     

     

    I’d much rather you quote everything please m8.

     

     

     

    HH

     

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

     

     

    The reason.

     

     

    I didn`t want to comment about everything.

     

    Only the final sentence.

  24. Anderlecht are a cracking team, and they will really test Celtic at stages next week.

     

     

     

    A draw at the ipox with them delirious would not be the end of the World.

     

     

    23rdPrecinct.CSC

  25. macjay1 for Neil Lennon on

    Pete.

     

     

    I really don`t know.

     

    Tony and Morelos is a potentially combustible mix.

     

    I`m sure Morelos will be primed up . Latin temperament plus hun passion.

     

    I would love Celtic to play it cool initially , gently probing for openings and then , when we`ve weathered the home headless chicken attacks and the provocations of Morelos , a couple of confidence sapping blows to cool their ardour.

     

    But we both know that passion can be the decisive factor.

     

    They have much more to prove. Pedro has much more to lose.

     

    Any victory will do me.

  26. macjay1 for Neil Lennon on

    While we wonder if Brendan will CHOOSE to blood Tony Ralston , pobre Pedro might be forced to …………… …………. ” Rangers rookie Ross McCrorie set for baptism of fire against Celtic as Pedro Caixinha reveals…”

  27. Morning all:

     

     

    Save ya waiting on the team:

     

     

    Gordon

     

    Lustig Boyata Simunovic Tierney

     

    Brown Armstrong

     

    Roberts Rogic Sinclair

     

    Griffiths

     

     

    4-1 to the good ghuys

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