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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Braw
Will do :-)
HH
Wrap the green sheet round me….
Braw
And not my Italian sheet!!!!
Hoopy days
CORKCELT…
Uch,I was hoping to sign “someone costing gazillions galactistar guy” next summer,as well.Ya total killjoy! ;))
Dallas, You are probably right but like everything, nothing lasts forever they have a totally fantastic record and it had to end at some stage.
TET
If you are ever stuck in a room with a group of political and social …er scientists.
You would be as well catching up on some sleep:)
After about an hour…you want to jump out of the window.
They are barking, and the kind of people who want to ‘get into politics’
Out of boredom, i ended up giving them a wild historical rant of epic proportions….they were not amused, made me laugh though:)
HH
Is everybody concentrating that Almore gets a ticket for the replay….
Would be a braw result…
Even though my wood peckers are green ..with a braw red top..
Smiley thing …
Come on now bhoys. Email P 67 with the ticket details …
Braw .
G
go hiontach at fad
Corkcelt, I used to get to a lot of youth and reserve team games in the eighties but very rarely get to either now.
My hope is that, one day, we have at least 4 home grown players in our starting eleven and other youngsters are given the time to learn and develope but in the current climate that might not happen.
The Shamrock. 6.42
Thanks for your link, a wonderful read.
Interesting read on the James Forrest blog about the magic hat man, saying becoming very McCoist like now.
Tbh never liked the man , ungracious in defeat and full of respect pish. Noticed the rags are breaking ranks now, unsurprisingly.
Corkcelt look out for exceptional expenses and or what the directors remuneration looks like.
Dallas. .. Must have been braw to watch the wee Celts…
Kids are way more savvy than us…
The gap is getting insurmountable…. In there heads (and parents)…they are gods..
And the system needs gods …wee and bigger than wee…
Dance before you box..and box before you play fitba !!
It really is just a train line …pick oot the first Rocket….
No sure whit is whit noo…
Never mind….we live in Thimteresting Times…
Braw
Neg. Look out for them yourself and if you come up with something exceptional I’m sure you will let us know..
Good Evening.
Here’s something new. About a certain someone getting riled by Chris Sutton…
https://theclumpany.wordpress.com/2016/09/19/the-man-who-never-bites/
sinclair’s goals – worth a watch, they all share something
http://www.bbc.co.uk/sport/football/37407906
Dallas
Talkin about wee Celts. My sis had her half n half Celtic/ RC scarf on doon the Rock today. She saw her son play a great game, but was blown away by 2 or 3 Celtic players. His mob scored a flukey away win was her words to me. :)
WHAT IS THE STARS on 19TH SEPTEMBER 2016 8:05 PM
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
You are not !
My bad; had not read back, nor properly understood the “tongue in Cheek”.
Good stuff is good but “Stuff happens.”
;))
HH
Neustadt-braw, there was a player in our youth team in the mid-eighties , Dougie Maguire, who had some amount of skill but wanted to show his skills off but not to the benefit of the team.
He would skin defenders , have team mates waiting for the cross or a cut back but would hold onto the ball to take on the defender (s) again and the chance was lost. He was really frustrating. He came on as sub a few times for our first team before joining Coventry.
Gerry Creaney scored a number of spectacular goals for the youth team and reserves before breaking through to the first team..
We had a lot of talent back then but for whatever reason or reasons, just like now , they didn’t make it.
Corkcelt well I saw a rise in exceptional expenses and I have heard the board were, errr, generous to themselves.
Haven’t read the full accounts yet. But I will.
I see that the “dead” Hilary Clinton was on the news today discussing the latest terrorist attacks.
But hey. Those who endure in right wing conspiracy theories won’t stop until we have national socialism.
Plus de change.
Hooooooopy Birthday Laura, make sure yer Da’ spoils you:-)
Delaney’s, Chris got a name check in the Celtic website match report ,today.
He must have have been desperate to get a start against sevco last Saturday.
Will our young guys get a chance and will some of our support have patience with our young players getting a chance in our first team.
“but issues around our two years without Champions League football were enormously resolved by the recruit-to-appreciate model.”
I have put that phrase through google translate and the language has not been recognised.
I would appreciate if someone could enormously resolve my puzzlement. I would accept even someone moderately sorting out or, as a last resort, someone half-heartedly guessing.
30th September….one not to miss. BBC Alba Documentary about Jinky.
http://www.purpletv.tv/news/TXdateannouncedforJimmyfilm
Dallas
Both Chris and Marcus were injured in pre season games. Marcus got his first game of the season last Saturday at doomdome. His dream was to score the winner for Celtic there. He was gutted RC never left wi 3 points.
Chris came back last week wi U20s. Two assists for the goals. Another assist today.
He makes goals like his mate KT.
Neustadt Braw: Thanks for reminding the blog of my desire for an All-Ireland replay ticket.
Don’t forget the fans’ café by the Superstore:-)
Go hiontach ar fad!
Dontaskformuchcsc
A possible selection for Wednesday:
de Vries
Gamboa Svietchenko Simunovic Izaguirre
Biton
Roberts McGregor Armstrong GMS
Ciftci
Because of the travelling involved, I don`t usually go to these sorts of games but I am looking forward to this one. Alloa seem to be a Timmish sort of a Club. Not sure why I have that view.
JJ
SFTB
Are you asking for the meaning of the expression in bold to be explained?
JJ
Neg When you get the real dirt, we will have a chat about it.
BURNLEY78 on 19TH SEPTEMBER 2016 8:42 PM
Damn statistics !
—————–
Of course, one manager qualified for the CL and the other didn’t in those stats as well :-)
HH
CRC
Team for same old Alloa
Gordon
Gamboa Jozo O’Connell Izzy
McGregor Henderson Armstrong
Forrest Dembele Roberts
Put the game to bed asap and give Ciftci a run out in place of Dembele.
TheTimreaper
Liked the ` Same Old Alloa ` bit!
Your team is also acceptable 0:-)
Goodnight all.
JJ
Enormously resolved = Offset?
Not as gobbledegookily colourful but adequate I think?
Delaney’s, l’m hoping Chris makes his breakthrough this season.
Its unfortunate that with McEvely’s suspension on Saturday, Chris’ lack of match fitness contributed to him not starting.
If he has the same attitude and desire as Kieran, it should help him make it.
I’m looking forward to Wednesday’s game against Alloa.
They have about five ex Celts in their squad along with Luke Donnelly on lan there. Luke won’t pay due to his loan. Alloa , like ourselves , have started the season well.
Good night all and sleep well .
The Tim Reaper, O’Connell played today. Stick Eric in instead and I’m with you on the team.
JJ
If something is resolved, it is resolved. It has been settled or determined.
I know people use the expression “partially resolved” but I think resolved is inappropriate there too.
Should it not read more easily as enormously improved if we want to apply degrees to it.
Is it not like being partially pregnant?
Negs
You’re a clever guy. You surely must recognise the poverty of any criticism of source material that starts: “I haven’t read it yet but…”
FYI I have. Pretty much all of your assertions are groundless.
But don’t let that stop you. You carry on.
Kevinbhoy
Is it a well understood accounting term then?
Should we trust accountants to re-write our language?
SFTB
Apparently depends on your browsers default search engine (Google, Bing, DuckDuckgo)
I got
gargantually picqued
galactically orthogonal
and hermetically sound
embdy else?
SFTB… or like being slightly dead :)
Probably fair to say the phrase was ‘coined’ to put the transfer strategy in a more positive light.