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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davidopoulos
13:52 on 17 October, 2014
Great idea, who should get the gig ?
What happened to the ole Peter Lawwell TBB fag packet money?
Brogan’…
Sorry but Breaking Bad ain’t coming back.http://www.independent.co.uk/arts-entertainment/tv/news/breaking-bad-series-6-is-still-not-happening-9801391.html
My friends in Celtic.
The Battered Bunnet @ 13.28 hrs stated ;-
“First, the singular purpose of all companies, whether private or public, is to create profit to distribute to its shareholders.”
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Assuming this is true then many companies including Celtic will not implement the Living Wage voluntary. It may be correct to state that it can be profitable to companies if it is implemented, however there will be counter argument against this theory.
Solution : Lobby the Scottish government to make it compulsory. They have the power, they have the mandate and in all probability that mandate will increase at the next election.
The implementation could if desired be subject to conditions e.g. Large and medium sized companies employing over a set amount of people. For small businesses it could remain optional if deemed necessary.
The implementation could be introduced in stages, similar to the company pension scheme.
As with the introduction of the minimum wage an element of compulsion is necessary and Scotland has the power to lead by example.
HH.
went up in smoke
I remember a time when supporters went to see Celtic because of there love for the club, now it seems to be there only supporters when it suits them to be, oh for the old days
Repost from last article any help would be appreciated.
Folks anyone know of any Celtic friendly bars in Marbella for the game this weekend?
Looked up celtic bars worldwide but couldn’t spot anything for Marbella.
Thanks in advance.
Hail! Hail!
Greenpinata
Scottish Government can’t legislate on this. It is a reserved (Westminster) power.
I like the text though which majors on difficult times, tight finances etc just lining up for the Board to say ‘We can’t afford it’
HH
I’d suggest that we should look at the CEO’s bonus payments over a longer period than one year, with football and financial KPIs. So, football KPIS over a five year period (Starting this season/year):
4 league wins out of 5 (I expect “honest mistakes” will lead to them winning one at some point – probably just before they are desperate for cash so they have a crack at Champions League – so whenever they have the relevant audited accounts)
3 Champions League qualifications out of 5;
5 Cups over those 5 years.
Finance wise – no expert, but here’s a stab:
Non-CL revenue stabalised;
Day to Day expenses reflecting non-CL income;
10% profit on player trading (i.e. for every £10m we bring in, £9m spent);
CL Revenue and 10% profit on player sales used to diversify the business (for example, opening a hotel, or setting up a “wealth Fund” by investing in other businesses): Over the second five year period, this ought to permit the club to grow non-CL Revenue, thus increasing expenses, or phase out the 10% player profit KPI.
Hun..,
Supporters have become far more aware and educated about the financial shenanigans going on, in them old days the Celtic support were only vilified by outside sources, there’s an argument to return to the days when the club stood up for the support but never an argument to return to the ignorance and secrecy of boardroom arrogance.
Hunskelper
I remember when you could go, sing, shout and gesticulate without 400 people behind you shouting (their only contribution usually) ‘ Sit down, I cannae see……. Steward! Steward!’
HH
Guys, it’s been a long while since we thought it a bonus if we got into the pre-qualifying rounds of the UEFA Cup (and fail to progress), getting cuffed by Raith Rovers in finals etc.
I’m not impressed with the disconnect of Board to supporter, this needs to be addressed.
I posted the BBC story on the way Dortmund fill their 80k capacity stadiums, that’s the template of success only an idiot would fail to consider.
We are light years ahead of pre-bunnet days, things need to improve but some perspective (from us) would help.
Lawwells bonus and the living wage? I can’t remember a bigger disconnect between the Board and the Celtic support,since Fergus emptied the Whytes and the Kellys.
Just noticed this on the BBC Occuppied 6 counties app – funny same story doesn’t appear on the Scotland one
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A man who permanently disfigured a football fan with a broken bottle has been jailed for attempted murder.
Paul McCann, 28, admitted attacking Caolan Fullerton, 18, as he made his way back to his hotel in Glasgow city centre after watching a football match.
Mr Fullerton had travelled from Northern Ireland to watch a Champions League match when he was assaulted in the Gallowgate last year.
McCann was jailed for five years and three months.
Mr Fullerton was walking home after watching Celtic play AC Milan when he was attacked by McCann. He collapsed to the ground and was taken to hospital.
‘Thuggish’ attack
Lord Boyd of Duncansby told McCann at the High Court in Edinburgh: “This was a thuggish, alcohol-fuelled assault on a young man who had come to Scotland to watch a football match and enjoy himself with family and friends.”
He described Mr Fullerton’s injuries as “life threatening”.
However, he accepted that McCann had expressed remorse. He told him that he would have jailed him for seven years if he had gone to trial for the offence, but would reduce that following his guilty plea.
McCann had earlier admitted attacking Mr Fullerton with the broken bottle to his severe injury, permanent disfigurement and to the danger of his life and attempting to murder him on November 27 last year.
He was granted bail following a court appearance after the incident, with a special condition of a curfew on days that Celtic’s first team played matches.
Advocate depute David Nicolson said that after the match Mr Fullerton and his group had gone to a Gallowgate pub until about midnight.
Bleeding heavily
On the way back to their hotel, Mr Fullerton approached McCann in the street and had a brief exchange with him after a bottle had been thrown from the area where McCann was standing.
McCann “punched” the victim on the side of the face but one of Mr Fullerton’s friends then noticed that the attacker had a broken glass bottle in his right hand.
Mr Fullerton collapsed. His brother and another friend went to his aid and applied pressure to his neck, which was bleeding heavily.
Other people, including the victim’s father, tried to grab McCann. McCann’s speech was slurred and he was still holding the broken bottle when the police arrived.
Mr Fullerton was taken to hospital by ambulance and was found to have a 2in (5cm) wound to his jaw and a 3in (7cm) injury to his neck.
Defence counsel Frank Gallagher said the Crown accepted that the case involved potential danger to life.
Lord Boyd said: “It is on the other hand an attempted murder.”
Mr Gallagher described the incident as “completely out of character” for McCann.
He said: “It has been explained the consumption of alcohol can in no way be considered an excuse.”
It was hard enough for me to sit at Celtic Park and watch the inept display against Maribor. I can only imagine what it would have been like if I’d just seen my £400K bonus go down the plughole.
F.A.B. Virgil @ 14.33hrs.
Respectfully I disagree, the only anticipated reserved powers will be Defence and Immigration.
We have just abolished Stamp Duty and implemented a new tax. New Drink Driving limits will be introduced in December.
We have the power, do we have the will.?
HH.
Jamie T-Zombie,a few bhoys posted about it recently,brilliant song which the Clash fans on here might enjoy.Canny see it making the Clyde playlist……..or the CP one either
Celtic is an emotion play for almost all of us.
We want to win, to play well , to qualify for the champions league, to get better, to have some bragging rights.
We want the club to recognize us an integral part of it’s fabric.
Right now and for the last few years this is simply not the case.
I would be happy for the CEO to receive double the overall compensation package if all of the above goals were met.
As it stands the fans feel alienated, not supported, the yellow streak right up the backs of the board with regards to the FARCE that is allowing Sevco to equate to Rangers, the Green Brigade treatment, the lack of investment etc all point to a bleak future where fans will simply think it’s not worth it.
That is happening and it needs to stop.
Seville67
cliftonville celt from belfast
14:38 on 17 October, 2014
—
The young victim was over from derry for the game.
Very serious attack and could have been fatal.
As someone who bought shares when Fergus took over,£620 for 10 shares, his intention was to make 10% on his investment,I believe he invested £9million, therefore he wanted to walk away with £9.9 m, in reality he walked away with nearly 40m if im not mistaken, personally the re-election of Bankier and the others up for board positions can be opposed by shareholders, who can organise this for those who agree, and not me?
Bada,
It sounds like if the clash done the only fools and horses theme tune:)
Unmistakably Jamie-t. Good stuff likes.
dessybhoy
Don’t think £40m is anywhere near correct.
But if it is, Fergus deserved it.
Modern e fag packets for the avoidance of doubt.
Greenpinata
It may or may not be the subject of devolved powers in the future. Personally I rather doubt it…….. The ‘vow’ looks like it will result in a carefully crafted political device which can be talked up as powers but in reality will offer a poisoned chalice tax straight jacketing.
H
There was a boom in football related shares (and the stock market) in the 90’s.
All sorts of clubs were floating.
I remember Alan Hansen advertising an investment trust that dealt exclusively in football shares. Anyone who invested probably lost 2 thirds of their money after a couple of years.
Even Fergus would admit that the timing of his deals was very fortuitous.
What’s the Celtic supporters’ incentive?
Maybe, the more songs you sing at a game the lower your next ticket?
FacetiousCSC
dessybhoy
Closer to 20 mil if I remember correctly, his timing was good old Fergus..
In the upside down world we live in, PL’s remuneration is considered by many to be normal and market-rate for the position he holds.
In the business world, however, where CEOs are hired and fired based on results, I think alarm bells would be sounding all over the place based on current outlook. If Sainsburys aisles were only half as busy as they were two years ago, if BA planes were showing a drop of 40% in passengers carried, if Hilton Hotels were suddenly only half as busy as they had been, I assume emergency meetings would be getting called left, right and centre.
I don’t know what the answer is, but more of the same clearly isn’t going to reverse the downward spiral we are in.
proudbhoy
14:43 on 17 October, 2014
Was wondering where he was from – manys a fella from here has been attacked making that walk thinking it’s safe enough
Best advice I ever got for going to games – don’t walk get a taxi !!! Took a full on digging match on a bus to teach me my lesson though !
proudtim and cc,
Caolan Fullerton is a great friend of my son and a regular visitor to our home.
Shocking that he went from Derry to Glasgow to support his team and almost loss his life due to that thug.A nicer lad you couldn’t meet.
Seems our injury list is clearing..
http://www.eveningtimes.co.uk/celtic/strachans-warsaw-pack-ticks-the-right-boxes-for-celtic-boss-deila-184820n.25616571
starry plough
profit or sale price? the info must be somewhere, if you had 10 it became 1000 to create liquidity in the market as the price before this was very high.
Paul67
Public service tends to get a bad name for efficiency, but in my experience when it came to aligning remuneration with achievement of goals, it developed over years of experience a very efficient system for doing so.
Everything everyone at Celtic does should be in the furtherance of specific goals/objectives cascading down from the top. Those goals and objectives should all be aimed at creating the Vision Celtic has of itself as a club and a community. (You can see the problem in that statement)
There are tried and tested processes for doing so. It is culture changing and so fearful to those involved.
My experience is that there is nothing to fear from culture change and that is a more encouraging approach (by definition of the word courage) than criticism without suggestions for improvement or personalisation of issues that individuals find themselves governed by.
I’ve been saying this for at least two years now on line and to Celtic but unless the internal mechanisms of management and internal governance are changed to make everything subservient to the Vision, its all shovelling green steam.
As a by product, supporters themselves will be able to see what the Vision is and recognise actions by the club or supporters that do or do not support the Vision and make more informed judgements on what is the right thing to do in the prevailing circumstances.
Cathartic is the word and we might just be getting to that point.
tricoloured ribbon
15:05 on 17 October, 2014
You going to Mordor tomorrow to watch the forces of good do battle with pure evil ?
Can anyone lend me a drone ? Got a great idea !!!!
CQN Saturday Naps Competition
Lads, for those interested in the CQN Saturday Naps competition, I have updated previous weeks results up to October 4th, at the end of the previous article :
“FA Prem goes international below Uefa radar”
I will update Week 9 (last week) by end of play tomorrow.
All the best, fleagle1888
Interesting debate guys. Very much so. Some of you I feel a tad harsh on Kevj. I agree with mags 18/20
Where the problem lies with any new proposed syructure and also lay with Fergus’s failed promises, is how do you take on a billionaire backed with a corrupt football authority.?
We are not out of the woods yet. Ashley, King, Ogilvie etc.
The answer is you dont from what I can see.
HH
geordie munro
14:22 on 17 October, 2014
“I despair that anyone on close to £10,000 a week needs a bonus to do their job well.”
Yorkbhoy, there are football players on 10k every few hours who receive bonus payments for doing their job well.
That’s why I wrote anyone.
Why is it only the rich who get paid extra to do their job?
cliftonville celt from Belfast / proudbhoy.
Disgusting attack and probably only the tip of the iceberg.
The problem isn’t helped by the fact that when the pubs shut there seem to be few taxis and most end up walking either to hotels or to the ranks in the town centre.
HH.,
Its the arrogance of beleiving that you are worth three times more than what it would cost to provide the living wage. We are ran by Neo Liberals schooled in Milton Friedman economists. Not tims