Celtic’s financial results for season 2015-16 were announced this afternoon. Turnover increased 1.8% to £52m, but operating expenses (before transfer fees, tax, interest, etc.) were up 7.3% to £57.1m
The club made up the shortfall with a gain on player sales of £12.6m. Against this income, Celtic paid £8.8m for player registrations (which will be amortised against the accounts evenly over the period of player contracts).
Pre-tax profit was £0.5m, with cash at 30 June 2016 up to £10,450.
Chief executive, Peter Lawwell, stated in the accounts, “On the pitch, the year did not meet with our expectations”
“Off the pitch the Company returned to profit, mainly as a result of the transfer of certain player registrations during the period leading to a gain on sale of player registrations of £12.6m (2015: £6.8m). This enables us to continue to deliver long term sustainable football success in a very challenging environment.
“For a club like Celtic, operating in a market where television values have fallen significantly behind our neighbours across Europe, qualification for the Group Stages of the UEFA Champions League is of paramount importance. The financial rewards allow for investment in the playing squad and physical assets, but moreover, the prestige of participating in the premier club competition in the world reinforces the reach and importance of the Club to so many people around the world.
“Celtic supporters continue to support the Celtic FC Foundation as it develops into one of the most successful club charitable organisations in the world. That support is not surprising, but it is not taken for granted. I thank everyone involved in the continued success of the Foundation.”
I don’t think there is a direct correlation between not qualifying for the Champions League and player sales, that is correlated with the period remaining on top players’ contracts, but issues around our two years without Champions League football were enormously resolved by the recruit-to-appreciate model.
Tune in next year, when we’ll turnover close to £80m.
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THEEXILEDTIM
I tried to post a reply re Clinton,got Blinkin lost.
Anyway,the money which The Clinton Foundation,etc,has raised over the years is phenomenal. No doubt about it. The concerns you raise about the dispersal of those funds are truly shocking,yet fairly widely known. How do they sleep at night-well,they point to the good that has been done(!)
IMO,the choice faced by the US electorate is a shocker. The devil you don’t want under any circumstances,or the deep blue that’ll be f…..g right.
That’s politics now,the world over,sadly. We no longer get the politicians we deserve. We get the latest in a production line of self-serving useful and dangerous idiots.
BobbyM
Aye, when it comes done to it, you really have to wonder that a nation that virtually rules the world can only muster those two as candidates to rule the world, the mind boggles so it does.
HH
ERNIE LYNCH on 19TH SEPTEMBER 2016 4:20 PM
BARNEY67 on 19TH SEPTEMBER 2016 4:14 PM
The best form of security for your children is to teach them how to exploit those who are weaker than they are.
It’s only human nature after all.
And if anyone find’s that offensive, blame God for making people like that.
I find the above comments quite dispiriting and they are foreign to me. This is not how I brought my children up. They are both highly successful but they would never adopt the exploitation you refer to. Thank God for that. You can succeed by your own merits without doing other people down.
TET Not true about Chelsea’s flat
http://www.snopes.com/chelsea-clintons-apartment-is-actually-a-hospital/
johnjamessite.co.uk
Dave King procured the misappropriated data of William Stevenson for a sum of £25,000, and aided and abetted by Paul Murray, leaked and manufactured confidential material on a Twitter site that was formerly owned by Stevenson, namely Charlotte Fakeovers, to undermine Charles Green’s regime at Rangers. Green’s bid of £5.5m for the assets was more than three times the derisory bid of £1.7m by Kennedy/King/Murray’s Blue Knights. Two of the losing bidders subverted the narrative to take control at Ibrox.
I revealed exclusively that the connectors of three stands at Ibrox are so worn that the roofs are unsafe. They must be lifted and replaced.
I revealed exclusive details of what became known as The Fraudco Hearings. I was so well-informed that one of the defendants, Charles Green, not only praised my accuracy but could not understand how one individual who was not an active participant in the hearings could be so well-informed.
I confirmed a 2013 narrative that alleged that former senior police officers of Strathclyde Police, who were employed as Heads of Security at Rangers, received information from current serving officers to undermine the activities of HMRC with a view to derailing their inquiry into tax evasion. This implicates a knight of the realm, Sir David Murray, in the black arts.
I exclusively revealed that Paul Murray met Brian Kennedy at the latter’s Manchester office to desperately solicit funds to keep the lights on at Ibrox.
TET…
Thanks for link mhate.
HH
Yorkbhoy
What you have posted is true Democrat spin, I never said nor did those on the vid say that her apt is a medical facility, I said it’s in the same building, you obviously have proof that I am wrong, apart from snopes who are notorious for making a bollix of stuff.
HH
AWE_NAW @ 7:28 PM
Very good analogy…
Seen a thing on FB by a young(er) guy I know…
“When I cried as a kid my parents used to say “I’ll give you something to cry about”, thought they were going to smack me, didn’t realise they were going to screw up the housing market.
It is producing a disaffected, disenfranchised generation… to keep your analogy going…
Who think Joey Barton is the Messiah.
Hail Hail
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 19TH SEPTEMBER 2016 5:50 PM
http://time.com/4475630/dont-believe-the-new-myths-about-americas-white-working-class/
________________________________________________________________
Very interesting
Larry Elder espouses the same view
https://www.youtube.com/watch?v=IFqVNPwsLNo
BMCUWP
That’s politics now,the world over,sadly. We no longer get the politicians we deserve. We get the latest in a production line of self-serving useful and dangerous idiots.
_________________
I assume you meant useless!
FAC the Act
KTF
BMCUWP resting up for hootenany……Get well soon mhate.:O)
http://tribunacampeche.com/wp-content/uploads/2015/09/El-hombre-invisible.jpg
TET
You read something on the internet that confirms you view of someone therefore it’s true. If you read something on the internet that disagrees with your view it’s spin. (This isn’t a personal dig at you this is just human nature we all do it.) Personally I dislike most politicians but I still don’t believe everything I read about Trump and Clinton.
VFR800A8
No,mate. Nothing more useful than a useful idiot.
Though yours is equally apt.
VOGUEPUNTER
Is it my round? Looks like it fae that clobber!
Gerrybhoy
I took Barneys comments about teaching your children to exploit others etc to be tongue in cheek
I think if you read his entire original post you might agree
Unless I am losing my marbles
BENDIGO
Tabbed for later,mate. Thanks. The comments suggest it’s well worth a watch.
HH.
Yorkbhoy
Snopes are funded by a few government depts, there job is to cast doubt on the conspiracy theories that abound, so forgive me for not believing their spin.
For the record, I believe virtually nothing unless I can verify it, unless I choose to believe it that is, as do most people, they decide whom they want to believe, today I listened to Sky news and RT on the subject of the truce in Syria, if you believe Sky, Russia is at fault 100%, they are evil, RT is slightly more balanced but they do lean towards the Russian point of view obviously, so who to believe, personally if it comes from the western media I will treat it with a massive pinch of salt.
It’s all about the muney, truth doesn’t get a look in.
HH
Arrived back late Friday from Barcelona to Toronto, great trip with the exception of the the result .
the wife and I headed down the coast the day after the game to Sitges, on the recommendation from one of the bloggers on here , so thanks for that, great wee town and really ended the trip on a high.
Still looking for 3 tickets for the Borrussia game on the 19th to celebrate the one of my bhoys 21st birthday, so any help on that front would be appreciated, looking to be back on the 15th Oct. for the Motherwell game as well.
Hail Hail
Celtic’s Development Team, had Bailey, Ralston, Boyata, O’Connell, Ajer & Mackay-Steven in their starting eleven today. 6 players who would generally be regarded as fringe players for a match day squad and fell to their first defeat since May 2015.
South of Tunis, your posts from the Italan media and comments from the Inter fan always make good reading.
I aways look forward to your posts as much as I look forward to Roy Croppie’s.
In my opinion and others may have alluded to , succesive British governments since 1979 to me have succeeded in getting some of the population into debt (mortgages , cars, credit cards for example) so people can not afford to go on strike or not work.
The above may be called bunkum and balderdash as one late journalist would say but I believe there is truth in the above.
I find it very sad that CQN appears to be following stupid right wing conspiracy theorists from the US.
Meanwhile Celtic make a profit again and hide all the money.
THE SHAMROCK on 19TH SEPTEMBER 2016 6:42 PM
Some bedtime reading? It is a Monday after all . . .
GLENGARRY – Glasgow’s Sacred Heart
The Story of Bridgeton’s Catholic Community and its connections with Celtic
https://theshamrockglasgow.wordpress.com/2016/09/18/glengarry-glasgows-sacred-heart/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Thanks so much for this – I was baptised in Sacred Heart and spent the first 3 years of my life in Greenhead Street. My mum (now 86), will love reading it. She and all her family worked hard to build up Sacred Heart and she often says it was build with the pennies of the poor.
What a legacy.
HH
Wow, a mad giant green “BP ultimate” advert has just eaten my screen.
Evening Celts
Politics:)
I take a simple view, you elect sociopaths and psychopaths to represent you…Voila!
Mayhem.
HH
Meanwhile Celtic make a profit again and hide all the money.
You sure do know how to poke something with a sharp pointy thing :-)
HH
TGM
Anyone who has a notion of becoming a politician should automaticly be barred from being one.
HH
Damn statistics !
I am just back from a week and a bit in Tuscany and Rome.
Great chance to get an Italian perspective on the sporting world.
With the Daily Gazzetta having space to fill then statistics are to the fore more than anywhere other than the NFL I would say, which is interesting and until last night not too good for Mr De Boer.
That said my Italian Celtic supporting friend highlighted to me that last year our manager at Celtic had a season record for competitive games up to 18th September of
played 14
won 10
drawn 2
lost 2. A 71% win ratio
This year our manager has a season record for competitive games up to 18th September of
played 13
won 8
drawn 2
lost 3. A 61% win ratio conceding 1.8 goals per game.
Last years coach was being hounded out and abused by both fans and media alike.
This year feels like a very different place.
The stats only tell a small part of the story as Bill Bellichick was clever enough to see…
Interesting nonetheless.
TET
I agree.
And you would think by now, that people would see through the charade of ‘political elites’
Ian Duncan Smith for example…..who in their right mind would elect such a reptile?
Severe lack of understanding of the political reality.
HH
Taxes are for bank bailouts, corporate subsidies, weapons, wars and to facilitate the private sector. Housing, health, education and social security? What ur yeez like? Bunch of pinko commie Celtic supporters.
Oh goodie look!
Celtic PLC beat the Huns in the glorious balance sheet race. Dividends all round.
How about a whip round for the next terribly deserving charity that shouldn’t be necessary in the 21st century ya bunch of pinko commie Celtic supporting taxpayers!
Burnley78,
If you reverse that daft result in Gibraltar you get 69% win ratio not much difference but get your point.
TGM
Sadly there are millions of them who do vote for him and his ilk, the msm have done their job and are still doing it.
I thank the Lord I live in a cave :-)
HH
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 19TH SEPTEMBER 2016 8:03 PM
VFR800A8
No,mate. Nothing more useful than a useful idiot.
Though yours is equally apt.
_________________________________________
BMCUWP – machiavellian CSC
FAC the Act
KTF
These political labels cant mean anything you want them to mean.
For example….Hitler claimed he was a ‘Socialist’, ‘American Democracy dropped a Atomic bombon Japan, and Stalin was a ‘Communist’
And so on.
Ideology….to suit any particular purpose.
HH
TET
I hope my eight-hour presentation/lecture on this theme gets to see the light of day, before it gets banned:)
HH
A PLC hiding money, how does that exactly work out. Where does all the hidden money eventually end up.
All money taken out of a Company has to be accounted for, whether it comes out in salaries or in Dividend Payments. All Salaries & Dividends are open to public scrutiny. There are quite a few wealthy men who have sizeable stakes in the Club apart from Desmond, are they all complicit in this fraud.
The Auditors job is to ensure that everything is kosher & above Board, are they also complicit in the hiding of the money.
Reality isn’t as much fun as wild comments but the reality is everything is above board.
You have Income/Expenditure, Profit/Loss, Assets/Liabilities. Everything has to be Balanced & Transparent. There is no hidden money anywhere, Companies may use different legal manoeuvres to reduce paper profits to reduce or delay Tax but all money in and out is accounted for in the Accounts and there is not a Bunker in Celtic Park packed with wads of dodgy money.
Corkcelt, its a pity the developement team lost their 14 month unbeaten record.
Looking at the team , its the first time this season that members of the first team squad were prominent in the team. This looks like there may have been too many changes to get some of the first team squad some game time and build up fitness.
I wonder if guys like Gary Mackay-Steven and Logan Bailly were told to break themselves in gently following their time out injured.
Against Alloa, I would like to see Ryan Christie plus Liam Henderson start and Calvin Miller on the bench.
Gamboa to start with erik , jozo and Izzy making up the rest of the defence with Craig in goals.
Sky sevco news saying we are having a tough time of it after our last two games , what a load of mince. Their beloved sevco have won two league games this season and another two of their last six league games last season but its nt worth mentioning.
TET….me too….say hello to the smile..
Braw.
corkcelt on 19th September 2016 8:56 pm
Your wasting your time mate, reasoning doesn’t work with entreched opinions…