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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Not be long now.
cc,
No mate.Won’t be up.Would take a point..
The chair of the Celtic plc remuneration committee is Dermot Desmond, the absentee landlord.
How can he have his finger on the pulse when he spends so little time at the club and doesn’t even attend AGMs?
the glorious balance sheet
What would you rather do?
Play golf all day or work?
I know what I’d rather be doin’!
:-)
Tom McLaughlin
Not sure about big Kev from Edinburgh … I’ll find out though
Philbhoy
I’ve never been invited to a CQN hootenanny ( boo hoo ) … hence the need for the hootenanthony LOL
Lennybhoy
U up for the hootenanthony ? I could pick u up .
the glorious….,
He doesn’t need his finger on the pulse, he put people in place to do a job, he’s only interested in his return
The Battered Bunnet
14:08 on 17 October, 2014
I am a fan of Peter Lawwell for the job he has done and is doing and I do personally think he is actually value for money.
I think you are right with your fag packet calculations for next year. I disagree with you on your point on cash retention though. Any bank anywhere at the moment requires liquidity. The short term cash requirements for any business are now measured in the next few months, 12 months tops. Celtics next 12 months is there for everyone to see. Cash reserves for Celtic, I expect, goes to indebtedness ratios.I wouldnt be surprised that the level of cash is a pre requisite condition of bank.
Auldheid
15:08 on 17 October, 2014
Could not agree more! I would include our new manager in this also. My only moan would be to follow that vision requires investment which seems to be lacking in the furtherance of that vision. If RD is an alchemist on the football front and can formulate root and branch change and improvement to acheive that vision I expect he would be commanding a salary of Cheeky Chappie proportions.
It’s all about the
money, money money money, money, money, money
http://www.telegraph.co.uk/sport/football/teams/arsenal/11159330/Arsenal-shareholders-to-question-owner-Stan-Kroenke-over-3-million-payment-to-another-of-his-companies.html
Some great posts on here today.
Lennybhoy
U have mail
TBB
The thing is will spending the £15M guarantee you CL money and if you embark on a policy of being CL dependent, does that not put you in the position of having to avoid a Malmo Maribor moment every season?
Would it be possible to salt enough way each season of CL success so that if you had a Malmo/Maribor event you can easily ride the impact without having to sell to make up the deficit?
What is missing from the discussion is an appreciation of the cost over 3 years of recruiting players who provide a guarantee of CL. If that is outwith our reach then salting away, as long as CL absence is only one or two at most in 5 years, is not in fact a bad plan.
Its maybe that we have never been in a position before of actually being almost certain title winners every year and so having a crack at the CL every year to adjust our approach.
It might even help if how Celtic plan their 5 year budget was explained to change folks perception of the timeframe Celtic use.
The Reason the Celtic Fitba’ n Athletic Club is Financially Secure..n…the Sevco ur No.. well .. Financially Secure…
is
The Celtic Board n Peter Lawwell.. Work fur The Celtic… N… No Fur The Sevco.
n
The Reason that Sevco is a Financial Basket Case .. is
awe doon tae the Fact.. that..
Mr. Murray n Mr. White …n .. Mr. Green.. Awe Worked fur Sevco…
But.. NO… fur The CELTIC~
So awe you Gripers oot there. who Denigrate the Sterling Efforts o’.. Mr. Lawwell n Company..
WAKE UP n SMELL THE COFFEE!
Be Happy n Thankful..
That Celtic Fitba n Athletic Club hiv Folk Such as
The Redoubtable Celtic Board of Guardians..n.. Mr. Peter…
Workin’ fur US~
That’s Awe She wrote!
Noo , Ye Know!
Kojo
Still, Laughin’..
It’s not ‘salted’ Auldheid.
You either use it, or lose it.
Neither are there any guarantees that if you use it good things will happen. But if you don’t, they most certainly won’t.
It’s all about judgement.
In a business that is reliant on either or both of UCL income and player sales, having £15M in the bank and no talent on the park is really quite hopeless.
Twists,
I take it wur horse didn’t place!?
I’ll forgive you if ye can give me 5 winners at Chepstow next Saturday:)
Geordie Munro
Wasn’t in the first four!
;-(
starry plough
Here is a story to the Fergus share sell
http://news.bbc.co.uk/1/hi/scotland/475389.stm
sorry cant create a link
brilliant it done it for me
Philbhoy,
In fact….I’m blaming you. I forgot all about it till you mentioned it;p
Naw kojo,
The reason is because the Celtic support are more inquisitive and critical of our boards, we are more likely to take action if we are not happy, so stop telling us to behave like huns
From BBC Scotland
15:45: What’s are your burning questions? BBC Sport Scotland Former Celtic manager Davie Hay will be speaking to us tomorrow, what would you like to ask him? Send us your questions! #Celtic
Tweet @BBCSportScot, or post your questions on our facebook page.
Massive Bonuses
Eh?
Massive Bonuses
Ye Know..
Awe this Argy Bargy.. Aboot.. How Ronny is No Daeing the Joab.. n…
How we wid Be Bettah tae Get Shot o Him..after oany a Few Months oan the Joab..
Reminds me o’ a Wise n Wonderful Saying ..
that Ma Sainted Granny..(No Ma Sainted Mammy.. though)
Yes, Ma Wise n Wonderful.. Granny..use tae Say..
To me.. When Ah Became Impatient ..aboot Things..
“Liebchen,Liebchen…
A Fool n A Bairn.. Should ..
NOT ..see …
A Job Half-Done!!!!!!!”
Maks Sense.. Tae Me..
Right?
Of Course.. Ma Granny wiz Right… She alwiz .. wiz!
Kojo
Still,Laughin’
The amount of bonuses paid out in boardrooms up and down the country is horrendous. For a bloke in his what late 50s + , as a supporter to get to the CEO post , to be in receipt of large bonuses £100k s worth is a sad reflection on how we are mirroring the greedy sods in the rest of the economy.
I would not put our CEO on any football related bonuses , so a stupid ref decision or a bad bounce of the ball and the bloke in the stand gains or looses a bonkers amount of money ; which is indeed bonkers.
Bonuses should be restrained in the boardroom full stop and be paid on criteria which reflect football success , attendances , not sacking the manager and the like.
I’m sure clever folk could come up with a more comprehensive and meaningful list than it takes Easy jet to
Check my bag ⚽️
Geordie Munro
Sorry! Cost me a tenner.
Nags, who needs them.
bournesouprecipe
15:50 on 17 October, 2014
You threw me there with your 1st pic :)))))
Philbhoy,
I’m messing. Didn’t cost me owt.
It was out the bairns lunch money:)
Geordie Munro
LOL
I am curious to know who, if anyone, of our season ticket holders sent the club £100 in each of the last 2 seasons .
30 000 x £100 would have gone a long way to improving the wages of our lower paid workers.
I have no idea how much Lawell is worth per annum but I do know that it always easier to find fault in others.
Philbhoy & Geordie Munro
Just checked San Telm was a running on strongly to finish 5th ,first 4 pay out though :((
When I seen it flash into 5th I thoght please tell me thats not it , this is one to follow
San Telm ran a good race and finished only a length and a half outside the places in fifth.
Hard luck, Twists. Keep them coming.
leftclicktic
Cheers!
Thought … even :((
SFTB’s comment earlier that “Executive pay is a disgrace, including Celtic’s” is spot on.
So too footballers’ pay.
Football is a unique sector where the top ‘factory floor’ employees earn sums of money that are so distant from the ‘customers’ who pay for their services as to be in different galaxies.
Square 25% of people in Spain being unemployed with Real Madrid’s 25 year old Gareth Bale earning £15 Million per year.
Square the average wage in the UK of £26,400 per year with 21 year old Chelsea reserve Josh McEachran earning £1.5M in the same period.
Square a food bank collection outside Celtic Park at our next home league game with Scott Brown earning £1.25M per year (before bonuses).
The average wage of footballers in the English Premiership is given as £31,000 per week (Deloitte 2014). With the obscene Sugar Daddy exceptions of Man City, Chelsea and a couple of debt funded football clubs, the wages of these football players are paid by football supporters, who earn, on average £26,400 per year. (TV rights payments come from viewer subscriptions remember)
There is disgrace left and right.
But in a business where the top ‘tradesmen’ earn sums such as these, what ought we pay their boss?
(I don’t know the answer to that btw)
Paul 67,
That’s more like it, if we have to suffer watching some of the games of late…PL should take the hit in his big pockets.
It saddens me to see the demise of skill on the park and our stands emptying.
BTW
Of our 40 odd thousand season ticket holders last year, 60% ticked the box to remove the automatic £1 charity donation.
Jist sayin’…