Celtic’s annual results for the year to 30 June 2021 were released this morning. This was an exceptional year as the stadium was closed to spectators for the entire season, although, as the figures demonstrate, season ticket sales, or the ‘Pass to Paradise’, made a crucial contribution to the club’s health.
Finances to the previous year, to 30 June 2020, was impacted by the curtailment of that season and millions of pounds of refunds, so our normal comparisons at this time are moot, it has been two full years since the club traded normally.
Income fell almost £10m to £60.8m. This is £23m less than the year to June 2019 but still significantly higher than the £52m in Ronny Deila’s last season, to June 2016. Operating expenses soared above income at £74.4m, leaving an operating loss of £11.5m. A year earlier, the club effectively broke even, having made a profit in each of the four prior years.
A straight £5m of Other Income was recorded during the year. I expect this will be HMRC Business Support, Covid-19 related.
The sales of Jeremie Frimpong and Patryk Klimala brought in a net £9.4m after sell-on payments, principally to Manchester City for Frimpong. Despite the disappointing season, £13.5m was spent on player acquisitions, with Vasilis Barkas and Albian Ajeti making up the bulk of that figure. The year-end cash figure, net of bank borrowings, was £16.6m, not much changed from the previous year’s £18.2m.
With all the bars and kiosks closed, Football and Stadium operations income fell the most, from £35.8m to £20.8m. The biggest surprise in any part of the figures was the rise in Merchandising sales, from £15.0m to £22.6m. Considering that in-person retailing was inhibited for much of the year, this is a stunning increase in what I assume was online sales. The commercial metaphorically department kicked every ball.
The club paid £630k to settle contract terminations, Neil Lennon’s severance will feature heavily here.
So much went wrong with last season it is remarkable that we are able to report losses of ‘only’ £11.5m and a positive cash balance, my early season expectations were that we would be in overdraft on 30 June.
With hospitality, Stadium Operations and ticket sales for European and cup games, income should push towards £80m this season.
We have talked here about Asset Management for 17 years. The post-year player sales indicate that despite horrible performances on the field, our player asset values were very high. With a different manager, who knows?
Player purchases in the summer were concentrated around the 26-year-old age group. There is less room for asset appreciation in this new squad as there was among players we sold this year, so either we sell our new stars very soon, or we accept they will leave later in their careers for nominal or no fees. That decision will fall to a new chief executive, I expect few would be bold enough to announce thier arrival with a sale of assets, so expect to keep our main talent for a while.
That is a problem for the business model, one we have not seen since Martin O’Neill’s great team died on its feet, with a huge wage bill and no resale value. Fortunately, this squad can address the problem by winning the league and delivering compensating income from the Champions league, so no pressure now. Strategically, we need to get back to maximising Asset Management potential as soon as possible. Failure to do so always ends in clubs having to pull back eventually.
As a community, Pass to Paradise subscribers, staff and executives, we navigated the club through a year of genuine systemic threat in good shape.
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JHB
“As usual you are conceitedly over-stretched!
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That’s hardly a no, then, is it?
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“I let the facts and the overall policy speak for themselves, if that reflects pro-Boris sentiments, it is hardly my fault.”
But that looks very much like a Yes.
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As for criticism of the SNP- you are an effective recruiting sergeant for them.
An Tearman has you down as a supporter of the Respect/Workers/ Alliance4UNity movement and not a Labour man at all.
There should be no shame in admitting which party you do support.
There is shame in pretending to support a party and then damaging it by your incoherent arguments on its behalf. Only pirates operate under a false flag
EMERALDBEE \O/ A DOUBLE NINER!! on 21ST SEPTEMBER 2021 5:58 PM
I have to admit that it was a bit of a sweeping statement to emphasise a point, whether it worked or not, obviously not going by your reply >:)
Next time you are coming over let me know and we will arrange a meet up.
HH
Def aff oot this time…..
Back already, meeting is now on Friday, seems that the leccy place was overwhelmed this after by irate customers, windows were broken and the guards arrested at least a dozen folks, could be more, find out later, folks arny happy, as I said coming to a region near you soon.
JHB on 21ST SEPTEMBER 2021 4:38 PM
SAINT STIVS on 21ST SEPTEMBER 2021 2:47 PM
Brian Wilson is 72, did he call out the 5WA or RES12 or the blue meanies cheating ?
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What possible meaningful advantage could Celtic have gained by forcing itself into the sh**-storm that engulfed Rangers in 2012?
We would have become an actor in this play and ended up covered in turds as the media turned it into a Celtic v Rangers soap opera for cheap headlines.
When the rot started setting-in around Ibrox and Craig Whyte stepped out to announce Administration, none of us could have expected the deserved havoc that would ultimately be heaped on that club.
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utter nonsense, Paul and a hundred other posters on here told the world exactly what would happen next, an admin event, a liquidation, an asset sale, and a new entity,
all of it happened.
old ground but celtic did not need to “take advantage”, they just had to say this governance is terrible and we follow the rules, same for everyone 3-0 reversals of results for falsely registered players.
maybe your thoughts were somewhere else at the time.
so, who recruited the new head of sports science ?
should that be an ange pick ? or a plc committee pick ? or one of the desmond boys ?
should that appointment be done before a dof ? or is dof sdtructure back in the drawer ?
so many questions.
JHB
We can’t fight every fight – if we did it would devalue the fights that really matter.
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I know I shouldn’t but curiosity and all that …
In your opinion what fights were fought that really mattered …
I was scrathin my wee heid about who is this Anton guy cos somehow I am familier with him.
met him at cappielow first time back at a match after my illness, he came around the lounge tables with Hopkin and Ritchie.
nice enough fella, hope he is ready for the scrutiny, Rogic 70 minues his fault. McCarthy no fit, his fault, Forrest injured again his fault, Juliens long slow return …………. och you know what i mean ………..
just as an aside, he was wondering about with a tablet, showing people stats.
I could read this another way, look at all those managers he got the sack, just kiddin.
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Anton McElhone
Head of Sports Science Celtic FC, Experienced A Licence Coach and Elite Football Performance Practitioner
United Kingdom500+ connections
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Celtic Football Club
Celtic Football Club
The University of Edinburgh
The University of Edinburgh
About
I am a dedicated and driven UEFA A Licence Coach who has accomplished an impressive portfolio of achievements and experience through roles with New England Revolution, Tottenham Hotspur FC, Greenock Morton FC and Bradford City FC.
As a creative and progressive Coach, I have a capacity to lead across all areas of training, match days, analysis, physical conditioning and talent identification and I possess a proven track record in elite player development.
I progressed into the coaching arena following successful career as a Fitness and Conditioning Coach and I am proficient in designing programmes to enhance team performance, playing style and fitness, as well as, club philosophies.
__________________________________
Key Managers Worked Under:
I have been fortunate to work under some of the most esteemed and respected Managers and Coaches within the game and have utilised that experience to shape own coaching methodology and philosophy, including:
• Mauricio Pochettino, Tottenham Hotspur FC
• Harry Redknapp, Tottenham Hotspur FC
• Andre Villas Boas, Tottenham Hotspur FC
• Tim Sherwood, Tottenham Hotspur FC
• Brad Friedel, New England Revolution
• David Hopkin, Greenock Morton FC and Bradford City FC
• Tony Mowbray, Hibernian FC
• John Collins, Hibernian FC
• John McDermott, Tottenham Hotspur FC
• Alex Inglethorpe, Tottenham Hotspur FC
• Chris Ramsey, Tottenham Hotspur FC
• Ricardo Moniz, Tottenham Hotspur F
I have been fortunate to work under some of the most esteemed and respected Managers and Coaches within the game and tony mowbray
face to face appointments, the doactor will see you now
https://pbs.twimg.com/media/E_0gn_RVIA0QNym?format=jpg&name=small
Emday heard the wan a boot thur leader insisting on getting tested before coming home from holiday forcing thousands to go to another country to fly as its not needed on return costing the economy much needed revenue and jobs !😂👍
iconic, clean lines, no sponsors, 2 greats, 91000 at hampden for a friendly, classic, oh my days.
https://pbs.twimg.com/media/E_pV5yhXIAAWEUM?format=jpg&name=small
“Silence is a good way of conveying contempt…”
In that case I will no longer communicate with you.
My last word on the ‘red herring’ that is Res 12 and I sincerely hope that rational people may see the point.
If we had weighed-in heavy at the time with a heavily-strained quality of mercy and demanded that in addition to all else that was going on, that we wanted our ‘pound of flesh’ regardless – what would have been the reaction of the media and the watching football world.
It could have gone something like this:
“Why are a great club like Celtic intent on kicking another great Scottish club, their oldest and fiercest rivals, when they are down and at the lowest ebb in their history?
Is it driven by spite and jealousy? There are those with very short memories down Parkhead way.
In the mid-nineties Celtic themselves were only sixty-minutes away from being placed into receivership. Does anyone remember any pressure, or, utterances, from the Ibrox boardroom to add to their woes at that very difficult time?”
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A version of that would have been in every newspaper, TV & radio station in the UK and Europe.
It would have have constituted a massive own goal for Celtic and immediately handed some piece of moral high-ground to a hitherto discredited Ibrox regime. We would have been vilified for it by many who were unaware of the full story and our reputation may have never recovered to this day.
Please think about this, why in the name of God would you volunteer to hang out someone else’s dirty washing on your own line?
WEEBOBBYCOLLINS on 21ST SEPTEMBER 2021 7:18 PM
“Silence is a good way of conveying contempt…”
In that case I will no longer communicate with you.
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I am missing you already – HH
is he serious ?
david murray had several dozen quotes about celtic.
The hypocrisy is mind boggling
You are cheated out of potentially 100’s of millions of £s and you should just forgive and forget.
Ach well, suck it up bhoys, the oracle has spoken.
Keep on keeping on Auldheid, you are a star mi amigo, not forgetting the starter the Canman.
Willful ignorance is sometimes referred to as tactical stupidity . Depending on the nature and strength of an individual’s pre-existing beliefs, willful ignorance can manifest itself in different ways. The practice can entail completely disregarding established facts, evidence and/or reasonable opinions if they fail to meet one’s expectations.
SS,
I was there. I remember it so well because I had just about the worst toothache ever.
Neil Lennon on Sky Sports, slagging Norwich for losing a poor goal from a corner……funny stuff
rumours
paul mcginley seat on the board.
the guy browne from irish rugby.
dermos boy.
Rumours from phil ? must be true then
I’ve just the article and I haven’t seen one of the four pages of comments since it was dropped. I’ve a good imagination though.
Support the Celtic is my advice. Join us at a game again sometime. You’ll enjoy it.
…how many?
😂😂😂
SAINT STIVS on 21ST SEPTEMBER 2021 7:28 PM
is he serious ?
david murray had several dozen quotes
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Always a ‘save me’ retort, but never any real evidence – that’s what some call gossip.
Just been told that the arrests have increased to thirty eight, seems like a few were going over the top by all accounts, just what I have been told, daft, aye for sure, it’s no gonna help them, but they were and are upset so.
They, in the main have weans and can’t pay the bills, what comes first, feed your kids or pay the bills, coming soon to a region near you, climate change my arse, the biggest scam since the one we are still going through, and trust me it will get worse by the week, please trust me on that, if I am wrong, please, please, please get back to me and ridicule me, but give it till the new year, Ok.
Correct me if I’m wrong
I thought we sold
Frimpong, Klimala, Elhamed & Harper in January
So is £9.5m for 4 player good value ??
Take out the Kieran Tierney sale and we are at break even on transfers over the past 5 seasons
So not making a huge success with this buy young and sell on, asset management stuff
For every Odsonne we have at least 2 Vakoum Bayo’s to take a loss on
How much will we make on Vasilas Barkas orBoli Bolingoli 🤔 several million hit I would think
21ST SEPTEMBER 2021 7:30 PM
The hypocrisy is mind boggling
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I agree!!!
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You are cheated out of potentially 100’s of millions of £s
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Any chance of a breakdown of the “100’s of millions of £s”?
I make it maybe we could have been denied the chance to play Malmo in a CL qualifier – probably around £200k prize money at that time in 2011,……..and if Rangers, the champions, could not beat Malmo, what argument would you use in court to prove that Celtic, the runners-up, would have. The court costs might have been more than the sued for “prize money’ – and with Rangers bust and unable to pay, we would probably lost money.
Watched STV news tonight ,showed the huns offside goal three times,don’t know if they were trolling us or the huns :o?
Address me by my moniker and I may address you, or not, depends on how I feel.
Stats, I have them coming out of my hole if needs be.
Honestly WTF is wrong with people..
Covid conspiracy
Vaccine conspiracy
Climate change conspiracy
Lunacy…real
Fugg knows WITS – nowt so queer as folk
NORRIEM on 21ST SEPTEMBER 2021 9:01 PM
When you’re talking about assett management why would you take out KT?
Just because he came through the academy doesn’t mean he isn’t an assett.
The figure paul quoted is profit, 9.5 is very good profit considering the outlay
Philip Browne of the IRFU becoming available might suggest why Dom got the boot.
As for Paul McGinley, I remember him being interviewed wearing a Celtic shirt en route to an Ireland England rugby match in Dublin.
All this talk about accounts….I hope they have taken into account the additional six quid I spent on top of my voucher to purchase these….
https://enematic.wordpress.com/2021/09/21/my-50quid-voucher-well-spent/
Hail Hail
Matt
So they lie to you daily and we are the con theorists, The Great Reset, you are mad, but when it comes to fruition, do I get any apoligie for saying so, no chance, aye right, with respect, you deserve all that is coming to you, and I honestly thought you were a good bloke, how wrong I was.
I have asked the blog time and time again to show me where I am wrong, I am still waiting, all I am getting is the usual pish of ridicule and innuendos, moronic if the truth be known.
I really though yous were better than that.
Or………. is the Israeli prime minister, among others liars as well………..over 80% in their hospitals are fully vaccinated, but sure he is telling lies.
That’s me for the night, I honestly thought that folks were starting to wake up to the shite, sadly no, it’s actually worse than ever.
I will be proven right, I will bet my grandweans lives on that, and they know it.
Sleep well Timland
HH
“They said Napoleon was mad,
They said Hitler was mad,
They saidLois was mad”
“Who’s Lois”?
“He’s my Wife’s brother,he is fekin mad”