Detail in our annual accounts for the year to 30 June 2014, released yesterday, are bitter sweet. It was a good year financially but the successes were underpinned by qualification for the Champions League. This season’s revenue will be lucky to rise much above £50m, from last season’s £64m.
I see lots of comment on Peter Lawwell’s £400k bonus. The key figure to concentrate on executive pay is the basic (in this case £524k), not the bonus. Celtic executive pay, including manager, chief exec and scouts, should heavily incentivise qualification for the Champions League. If we’re in the Champions League, all other objectives become possible. Failure to qualify brings a range of risks; so the execs should feel the pain of failure in the pocket.
Basic pay should be appropriate for the work (this goes for all staff at the club, of course), but there is ample room to incentivise everyone, from executives, to kiosk staff, to stewards, on club performance or service objectives, as appropriate. Would doing so tackle many of the stewarding and service issues we see regularly? Would be interesting to find out.
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saint stivs
21:14 on 17 October, 2014
Big Georges Fan Club – Hail, Hail, Wee Oscar
21:05 on
17 October, 2014
thats a trek, i admire your fortitude to get up and go agan tomorrow
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Wee BGFC’s been nipping my head all week – no choice but to give it a bash!! Hope to find some tickets en-route – first stop, Stirling Services ;-)
BGFC
CowieBhoy, LennyBhoy mentioned you were taking JamesGang and HutchyBhoy to the night out, room for a wee one?
Bought a triple CD today ‘Made in Scotland’.
Amazing the amount of great music we have produced
in recent years.
I just got the Adobe update message, definitely something on the site that needs looked at
Magnificentseven
Same here mucker
Magnificentseven
I’ve had the same several times with Norton kicking in almost simultaneously.
Paul67
“If we’re in the Champions League, all other objectives become possible. Failure to qualify brings a range of risks; so the execs should feel the pain of failure in the pocket.”
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If I can cast your mind back to the 2012 accounts and the failure to qualify for CL. Do you feel that the execs felt the pain in the pocket for the trading loss of £7m that this endured, when a £400k bonus was also paid in this year as well?
It looks to me that the that £400k bonus topping up package to a near cool £1m is based on a “we don’t care if we win, lose or draw” strategy, so should always be considered in any analysis, as looks a gimme to me.
Mind you the gunners CEO is on a £2m annual package.
HH
CRC
£400,000 fir making a James Hunt of it …how much will that charlatan get fur doing a good job ??
Gordon
I buy a cd from an internet bloke with all the current albums on it .. Got that Scotland onto my iPod a few weeks ago .. As you say : how talented a nation are we
Btw .. If you want any music let me know
CRC
Let’s hope Gunners take him
Jimmynotpaul
21:04 on
17 October, 2014
Thats what you get when you show an intrest in Sheep…..
hehe
TBJ
Sorry I missed you last week
Was after a wee gander about Goa too
If the Accies are in the top 5 come the end of this season, will their boss, Alex Neil, be ‘approached by a third party’ to replace Sally at Ibrox.
He qualifies on one front, his team can foul and get away with.
Against him, playing good football is not a qualification for a job at Ibrox.
We seem to have an almost full squad for tomorrow. Let’s utilise it, get a better balance to the team, give Efe a well deserved break and most importantly, win the match. Oh, and play a diamond with two up front.
Ok, initial stab at some Key Deliverable Incentives for our CEO.
Firstly I believe it should be Limited to Max of 50% of his salary, this is still very good in current climate, so based on current salary this would be Max £262k ( exceptional for a business with our turnover – I accept)
I have also decided as we are a Football Club, this bonus will be heavily Football incentives, so it’s being spilt 70% Football related with the Other 30% Financial
Split the 70% into 3
1) 40% of the 70% achievable, based on the club reaching last 16 of Champions League
2) 30% of the 70% achievable, based on the Club reaching Champions League Group Stages ( this drops to 15% on only reaching Europa League)
3) Scottish Football success, on the remaining 30% of the 70% achievable, split 60% on winning SPFL, 25% on winning Scottish Cup, and 15% on winning League Cup
( A wee provisio here, if we get into Champions League, I would drop the League cup % and put into incentivising the Champions League success to 3 in group and dropping into Europa League as minimum ? )
So we are putting pressure on ensuring we have the correct players and Management team in delivering success on the Field
Now the other 30% of the full 100%, only 2 here
Controversy here :-)
4) 50% of this 30% total, ensure Celtic remain a profitable football club to the tune of £5m per annum (I have based this on a turnover of £50m per annum so 10% profit, which can then be paid out in dividends ( no idea how much this currently is) and be re-invested through Capex with payback)
5) a) 25% of the 30% total – deliver a growth strategy for Season Books by 5% per annum for next 5 years, with a target of 50k total, b) the other 25% of this 30% total, increase club turnover by 2% per annum
Ok, this could have been 6 :-), but by achieving 1 – 3 some of 5 will come naturally.
It should also drive an improved feeling across fans and board, as success on the field is key, I seriuosly thought about Board/Fan relationship, but struggled on how to measure ?
Over to you Finance Bhoys now to fix this initial go (and I ain’t a finance Bhoy, just a Celtic Supporter)
Hopefully some thought though
Hail Hail
You settle down with a packet of nuts and a glass of red and the dug just sits in front of you and stares. Time for doggie pish walk, see you in 40 mins :(
Hamilton go 4 points clear after taking a 3-0 lead. very very good goal.
Oh well. 3-0 hopefully we can replicate that score tomorrow.
Cowiebhoy
Stopping living in the real world
Doc, not made any arrangements yet for getting there, although will happily once home
No problem in getting back either
CRC, what u think I was doing :-)
Hail Hail
prestonpans bhoys
21:32 on
17 October, 2014
You settle down with a packet of nuts and a glass of red and the dug just sits in front of you and stares. Time for doggie pish walk, see you in 40 mins :(
yep, did mine early tonight, but every time I move he is still up wanting out again
Sheep Quick News in baaaaadown..McInnes oot…
Hamilton Accies result causes consternation amongst CFC support .
Is this the level we’re at now ??
McInnes needs to go!
Sack Duncan Fraser (who?).
Starry
Perhaps
Much less reason to be pissed off than CFC support …given that the locus and respective finance involved
If I may…
Jobo Baldie at 19:31 on 17 October, 2014
……..
Just for the thrill of being right, Jobo’s 5 X 20p singles tonight are –
3 or more goals in the game (evens)
Hamilton to win (2/1)
Hamilton to win with 3 or more goals in the game (7/2)
Hamilton to win with Aberdeen to also score (9/2)
Marc Antoine Courier for 1st goal (13/2)
For the avoidance of doubt I think Hamilton will score first, score at least once more and win the game ;-)
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As Meat Loaf nearly sang, 3 out of 5 ain’t bad….
nae huns or racists on tonight, its kinda borin
Tom Molach
Means we aren’t so bad …doesn’t it ? …no ?
Pf ayr, wait till after Christmas when we are struggling to stay in the top 6
It has been a long time since I posted anything on the site, however I had to comment with regards to the PL renumeration package this financial year. As with most senior management positions it will be KPI benchmarked one assumes? looking at the complete picture I cannot see what he has done to justify this sum? I have a job with a similar income stream to manage as the Celtic FC turnover, I feel I am well paid and the role has many challenges with much travelling and pressure at varying times, but it goes with the territory is my assessment, if one is unhappy you can move on an do a lesser role for a smaller salary. When I consider my CEO’s job role and the vast complex business that goes with the job it knocks PL’s role into a cocked hat I’m afraid, the salary paid is about 40% of the £1 million that has been reported with the CFC financial report. But football is a strange business with no real logic to it on this level of payment, the thing that irks me the most is that the club is moving more and more away from the fans and what we stand for. Sorry days indeed.
Ok, be back soon, dipping into the Jacuzzi to see if helps masareback :-)
Hail Hail
PrestonpansBhoy, how big is the dugs bladder?
Until we meet again…
Keep the Faith!
Hail Hail!
WHITS
we’re on the same page
Others
None so blind as those who refuse to see
We need to beat Hamilton twice away and once at home now to at least be level on points….and your money is on who..?
Lennybhoy, seen the note earlier
No probs Bhud
Hail Hail
I’m getting that adobe update message when I access Celtic Quick News via Newsnow.
After the Accies fiasco RD
MUST play 4 4 2 tomorrow.
That’s the weemhan sound asleep(no probs), hope the nosey auld yin is the same tomorrow night ,though no doubt she will be “who are you talking to on that “(laptop)this ,”what are you doing on that “(laptop)that.:)))
Cowiebhoy hope yer fitba team picking for is oooooooooooot the windae :)))
let battle commenceCSC