Celtic’s financial results for the year to 20 June 2023 were released this evening and showed income grew to a new peak of £119.9m, up from £88.2m the previous season. That 35% leap is largely (though not exclusively) a consequence of the club returning to Champions League football in September 2022.
The bank balance was an incredible £72.3m, up £42m on a year earlier. For some perspective, three years ago the club’s annual income was £12m less than our bank balance was on 30 June. Profit after tax was £33.332m (up from £5.849m) – and yes, we pay our tax.
Chairman, Peter Lawwell, wrote, “Our successfully proven strategy has delivered stability and footballing success over many years and remains the same. We must balance the signing of players that can be developed and sold when conditions are optimal alongside the need to sign players who are able to make an immediate impact and deliver footballing success.
“The execution of this strategy is increasingly challenging owing to wage and transfer inflation, but this formula has underpinned both our footballing success and financial stability over a number of years now and it is vital that we adhere to it.”
Chief executive, Michael Nicholson, noted, “As we continue to develop our Club for the future, we are aware of the ongoing turbulence and uncertainty in the economy and the challenges presented for our business, our partners and our supporters.
“Our model seeks to balance our commitment to football success with the crucial importance of financial sustainability.”
And added, “Finally, our thanks go to our supporters for your commitment and invaluable contribution to the Club. Your continued support is vital in delivering the success that we all strive for each year.”
These are (frankly) incredible financial results, achieved during a year the club delivered the 8th treble in our history and fifth in seven seasons. A significant portion of our resources will pay for infrastructure projects at Barrowfield and Lennoxtown. I would like a roof on Celtic Park (they have them in Warsaw, why not Glasgow?), but we will have to wait for that. We’ll dig deeper into the accounts tomorrow.
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Hello again all you young rebels.
Strange read back this fine Oz morn.
Maybe it’s pre Euro nerves.
Great weekend as usual down in ye auld Dubliner
Our big music meister Richie in good form, and it
always amazes me how the locals all react to the
rebs being sung, maybe it’s just the booze, or just
the emotion shown by the Celtic family at some songs
but for old ladies, other families with no ties to our ethos
all jumping about, singing, laughing and to man all joining
together for YNWA is enthralling.
CARP DIEM
Just to let you know SCOTTY’s dad is just as disappointed
with him as we all are, as for his younger brother Lachlan
well he’ll just sit with his hoops top on and shake his head
whenever it’s discussed.
But let’s not forget his time at Celtic and his contribution
to our success.
H H. Mick
After a period of superb on-field dominance by our team, I have to say well-played to the suits pulling the financial strings, and hopefully they’ll build progress on what’s a strong position in a parlous industry.
Markiebhoy; re your quip “Scott McKenna is one of us…”
Judging from comments on here, that’d be a supercilious bedwetting over 50s occasionally Board-loving malcontent, boozer-gambler, lover-hater of the green brigade-cum-transfer scout and analytics department ?
HH ;)
PS A roof eh? Ra Peepil goat an injoort wan called kemar afore us.
Morning MICK – forecast is for a belter today !!
You’ll need to know Mick, that I am unavailable to Brendan for selection after being red carded in our last game of the season on Sat. A clumsy last man balletic rugby tackle on a guy who was sure to score. Done my hammy and hip in the process.
BRAINFART CSC
CARPE DIEM 63 @10:59 PM
…just watched McDonalds celebration on YouTube after he scored the decisive goal in 2005 to gift them the league
———–
CD63 – tricky one.
We paid £600k for Scott and he more than paid us back.
As for that day in 2005 – I’ve reconciled myself, though it pained me, to the fact he was a professional doing his job.
The above pain exacerbated by the unshakeable belief that ….
…. if presented with the same two scoring opportunities against the team he supported …..
… A Sevco supporting professional footballer playing his heroes in the same circumstances….
… would have deliberately skied both without hesitation.
Good morning all from a biblical storm of a day in the Garngad
Profits, profits, profits lets get the main stand rebuilt and make a super stadium or invest in more quality players not quantity or bank and give ourselfs high fives.
I bet I know which one we go for.
Either way lets get into the Fenyens of the Ord.
D :)
G’day David 66 and all the early birds catching the worms.
Well, still here in rebel town, blistering hot and no intention
of rushing up the road.
First wee dip in the sea today, funny how a swim makes you
thirsty, must be the salt water, that’s what I tell the princess
anyway.
QUADRO
Sorry to hear your not available for Brendan to select, I’m
hoping to pass a fitness test tomorrow, after a few Guinness
of course.
Out now to think about our team for Europe, straight down
to the Dub. can think clearer with a full belly and an empty
heid 😜
Wonder if BRRB will be sittin ther, lookin for a pal 🤣
H H. Mick
Good morning from a very wet Biddulph, on days like these a roof isn’t a bad Idea 😁
Good morning CQN
Wet
Outside chance I know but Irish bar or somewhere for the game in Izmir? – anyone??……
Good morning all from Govanhill. Gerrintaethum Celtic!!!!
MOISEY17 on 19TH SEPTEMBER 2023 8:03 AM
Outside chance I know but Irish bar or somewhere for the game in Izmir? – anyone
—-‘
I’m sure BRRB’s would know a suitable boozer. 😀
Greenpinata
Not yet. 😆
https://www.youtube.com/watch?v=Y3ardckySYY
Good Morning Celts – Grand Day To Be A Tim
Well the figures were interesting if unsurprising.
An intriguing insight from the Chairman’s Satement…
Celtic plc annual results for year ended June 30, 2023
This is about Big Pedro’s contribution to the European Footballing Hierarchy…
“As we look forward, European club competition continues to develop and further integrate. Relationships between the European Club Association (‘ECA’) along with UEFA and FIFA have never been stronger and ECA membership continues to expand. This is a positive development for European football clubs and will strengthen governance and ultimately add value to the European Football landscape. Celtic are committed to the ECA and fully endorse its objectives as we move towards the new European Club Competition format from 2024 onwards. In my role as Vice Chairman of the ECA, member of the executive committee and Board Member, I will continue to promote the interests of Celtic, Scottish football and European football as a whole.
Followed by a footnote on those who actually contributed to 2022/23; the historic treble, UCL qualification, record turnover, record profits – put together real plans to improve our facilities for the first time since 2005…
Finally, I wish to extend my thanks to all our Celtic colleagues for their contribution to delivering another Treble and of course to all our supporters who continue to support the Club year after year in enormous numbers.
If anyone was in any doubt that Celtic are a PLC pampering the egos of businessmen, then have no more doubts.
Celtic football club come along way down the list of priorities.
Hail Hail
I fink you’ve brought the game into disrepute?
He’s told the Daily Rancid and all willing partners, our referees aren’t doing their jobs proper and Rainjurz got beat, coz of them. So it’s all their fault and I’ve not bought a pile of rubbitch.
Two weeks later and he’s still bringing the game into disrepute? 60 (sixty) domestic games without a penalty against, another new world record for Sevco, stand by for the Christmas run.
Will a mole appear before the beaks at Kings Park?
I fink not.
“Celtic football club come along way down the list of priorities.”
Its the financial statement, first and foremost the Chairman’s statement is about the statement and the performance of the PLC over the year.
We must have had some outrageous luck to have the football club be “way down the list of priorities” and have won 5 trebles and a double in the last 7 years.
19th September 1981 Rangers 0 Celtic 2 League
Rangers: Stewart Jardine (McAdam) Dawson Forsyth Stevens BettCooperMiller Johnstone Redford Johnston (MacDonald)
Celtic: Bonner McGrain Reid Aitken McAdam MacLeod Provan Sullivan McGarvey Burns McCluskey Subs: Moyes Nicholas
Scorers: McAdam 11 MacLeod 86
Attendance: 40,900
“CELTIC40ME on 19TH SEPTEMBER 2023 9:33 AM
“Celtic football club come along way down the list of priorities.”
We must have had some outrageous luck to have the football club be “way down the list of priorities” and have won 5 trebles and a double in the last 7 years.”
Just what I was thinking myself :-)))
CELTIC40ME, Hot Smoked…
When you read this in the statement…
As we look forward, European club competition continues to develop and further integrate…
You think, great, what have we got planned (as a football club)!?
Yet it’s all about big Pedro as a lot of the statement is…
Anyways, love to debate this and hopefully after this evening we can.
For now, I’m intrigued by our starting eleven and our capability to perform in Rotterdam
Hail Hail
Good Morning MM sorry had to go into that pesky work.
Your escapades sound idyllic.
D :)
CHAIRBHOY on 19TH SEPTEMBER 2023 10:00 AM
“Anyways, love to debate this and hopefully after this evening we can.”
Haha, knock yourself out after our defeat tonight.
For now though, If Celtic Football Club come way down the list of Peter Lawwell’s priorities, could you list yours, in order, please?
It strikes me that you dont want to have this particular conversation until we’ve lost in Europe tonight so you’ll win a different argument entirely.
“way down the list” you said
What’s your list in order?
CELTIC40ME @ 10:28 AM,
We will not lose in Europe this evening.
1. Celtic First Team
2. Celtic Development
3. Celtic B
4. Celtic Women
COYBIG
Hail Hail
Why would our club have £72m in the bank? Do we have more cash in the bank than our three champions league opponents combined?
As we go out to face Feyenoord tonight,sadly hampered by the fact we are without,3 CHs,not a fault of the club,it really sickens me that some are already writing tomorrows posts in their head,if we get beat.If the result does not go our way,a deluge of,anti Board guff will pour out from these pages.Rest assured.If somehow we get a result.You know the rest.
Anyone in Rotterdam looking to offload 2 spare tickets ?
MadraRua, Desperate CSC
CHAIRBHOY on 19TH SEPTEMBER 2023 10:44 AM
“We will not lose in Europe this evening.”
What makes you say that? It completely contradicts what you’ve been saying about our terrible record in Europe, our failing trading model, our failure to replace experienced players or improve the first team.
Is Brendan going to make the difference?
1. Celtic First Team
Can you explain what prioritising our first team actually means? What tangible results are you looking for?
CELTIC40ME @ 11:03 AM,
You are of course talking about the words you try to stick in my mouth, the strawman you create and not actually the reality.
As I said, will be happy to debate after the game…
Hail Hail
CHAIRBHOY on 19TH SEPTEMBER 2023 11:08 AM
“You are of course talking about the words you try to stick in my mouth, the strawman you create and not actually the reality.”
Thats basically a straw man argument right there.
“We will not lose in Europe this evening.” ““way down the list of priorities” and then digging me up for “not actually the reality”
Tonights posts have already been written, the “debate” is as predictable as your reaction to the financial report.
CELTIC40ME @ 11:19 AM,
If you mean – I already have the wherewithal to knock your arguments into a cocked hat, then of course I do.
This evening’s match and the result have little baring on that.
You have predicted a defeat, I have predicted a result.
So at least the game will furnish us with a “fact” for bragging rights.
BiggerpictureCSC
Hail Hail
Not feckin rocket science is it?
We get into the CL by winning domestically against a basket case newclub in a 2 horse league. We keep saving the cash for the worrisome rainy days (a la Peter in the statement yesterday) instead of spending to compete in Europe. We then enter Europe each with a weak squad in comparison to others (this year woefully short), get pumped, exit in embarassment. And repeat?
Great for those here who love a bit of fiscal prudence, have ambition only to scalp Micky Mole’s Govan Galacticos for eternity, but depressing for any Celtic fan who might want to see Celtic improve in Europe.
Big night for Rodgers in getting a team system to give us a punchers chance of a result.
HH
I wonder who Lawwell is referring to , that were signed in the summer when he says ” players who are able to make an immediate impact”
Because I can’t see any.
“ST TAMS on 19TH SEPTEMBER 2023 11:32 AM
I wonder who Lawwell is referring to , that were signed in the summer when he says ” players who are able to make an immediate impact””
I’m not sure he states that any signed in the summer were in this category. It is good to see acknowledgement that we do need a mix of projects and also these types of players though I guess it depends on definitions.
Holm etc might be considered a project by some but a potential first team impact player by others.
You could also argue that the players that signed extended contracts might count in this regard?
QB
https://www.bbc.co.uk/news/uk-scotland-66853131
I alluded to the CBC case in relation to our healthy bank balance some weeks ago – now we know that balance stands at £70m.
I suspect a figure of £20m+ may be the figure that settles the affair:
Negotiations will have been underway for some time.
Good to see Celtic looking to resolve the abuse case .
HH
new article posted.