Celtic and Newco income, the commercials are key


Any team can win any game, but sustained success in football is all about money; how much you earn and how you spend it.  Everything went wrong for Celtic last season and they currently trail Newco by four points, although there are reasons for optimism.  Where the clubs sit structurally and financially will always be a greater determinant of long-term success.  We are going to have a look this week at both clubs’ accounts, what indicators they reveal and how they are run differently.

For a season when Celtic were trophy-less, exited the Europa League, Scottish Cup and League Cup earlier than Newco, you would expect the clubs incomes in season 2020-21 to balance out for the first time.  Other things being equal, Newco should have earned more, particularly through their extended run in Europe.

Instead, Newco undershot Celtic’s £60.781m turnover by a clear £13m.  The difference was all in the commercial department.  Celtic’s deals with Adidas and JB Sports brought merchandising sales to £22.609m.  This figure excluded “other commercial activities”, which were noted along with multimedia income.

When announced, Newco made great play of their first kit and retail deal after parting company with Sport Direct.  However, their total figure for sponsorship, advertising, commercial and retail was £9.278m, £13.331m less than Celtic’s.  Not that this inhibited their spending, the apple never falls far from the tree.

If you recall, Newco ended up with Castore after asking bids for their kit contract online.  This was an indication that winning attractive deals is not as simple as those who have never concluded a deal like this could imagine.  Celtic’s commercial team landed Nike 8 years ago, then improved their deal with New Balance.  The move to Adidas in 2020 was a commercial game changer (it also landed before the reality of what lay ahead was revealed).

They were able to demonstrate performance and fine-tune a route to market with JD Sports.  As a consequence, despite shops being closed for much of the season, merchandising income rose by £7.6m.  To achieve this, you need to attract and retain staff capable of performing on a level off the field that Kyogo would be pleased with on-field.  At the top of the page I wrote “commercials are key”.  It would be truer to say an ability to attract and retain high-performing professionals is key.  You cannot do this if you are the football equivalent of an aggressive fantasist.

This is not the sexy part of football, but it probably determines where more trophies end up than differences in scouting resource.  Corporate governance up next.


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  1. Paul 67,



    Linking merchandise and ” commercial ” sales to trophy winning is pertinent.



    Yet we have certain groups actively boycotting same.



    Who’s side are they on.


    Some may even suggest ” The enemy within ”




  2. Paul – re “The difference was all in the commercial department…”



    Isn’t another reason we’re ruder and gooder in the financial health department due to player sales/trading?




    Aside, I have a feeling that our Jota may soon eclipse Liverpool’s man of the same name.


    Well done, Moyesy, btw – great result againt the KOPites.

  3. GlassTwoThirdsFull on

    Oldfirm Quick News at its best!


    Why compare Celtic with a club who has won 110 fewer trophies? Why compare Celtic with any other club? Just go out and be the best YOU can be – forget what others are doing.


    Of course money is important, but we had two years of Champions League money under Brendan Rodgers. Three years later we lose the league by 25 points!


    Much more important is what you do with it, what your vision is and who is making these decisions. Poor quality people with no vision or ambition is not what we need.

  4. Great game yesterday — great goals but the glass jaw remains.


    JPNF is growing with us and his game at times yesterday was incredible.


    Might be best to buy him now and get it over with.


    He has made us with some of his play and we have made him.


    Attacking focus / good team-mates / confidence from coaching.



    He is the player that the Scottish media / TFOD2.1 moon howlers want RK to be.



    Speaking of the TFOD2.1 — something strange happening with their results.


    Losing the first goal — have the bookies lost a lot of money from this bet?


    Starting to become a habit.



    Also the MIB seem to have would their neck in a bit regarding fouls in our games.


    Looks like someone has flicked the switch — we still have all the play but now we make the fewer fouls.



    As you would expect but for 6 games we were down the MIB rabbit hole.


    Need to keep up the good work and highlight any disturbing patterns.


    They may have a brass neck you couldn’t mark with a blowtorch but they can be shamed / ridiculed into proper behaviour.



    Cards and sending’s off for our friends in Govan are still the statistical blip that will find them out.

  5. P67



    You are having a laugh regarding the NB deal — huge step backwards for us.


    You only have to look at the improvements from 2020 to see how much was wasted with that deal.



    Surely this was not another of PL’s business calamities?

  6. When watching West Ham’s results I find myself wondering where our club would be now if we had appointed him instead of NL after BR.


    Like most on here, I think, I unfairly thought he would be a poor appointment but without any real reason for thinking that way.


    He was a terrific manager at Everton and is doing wonders with West Ham. His time at Man Utd was not great but then nor has anyone else’s been since then despite spending billions.



    I would hazard a guess we would have won 10iar.


    But we wouldn’t have Kyogo 😜

  7. Interesting look across some of the financials, referencing our rivals for context.


    Important to also remember that on field success underpins everything else.


    Should be some good articles this week.

  8. PeterLatchfordsBelly on

    Everything went wrong for Celtic last season.



    No exaggeration. Literally nothing fell our way. Some of that was pure rotten luck, some of it was pure politics (aye you, child of Dreghorn), but most of it was internal negligence.



    It’s great to have high performing pros executing fantastic commercial deals. Absolute kudos to Lawwell and co.



    However, you wouldn’t put them on the park in place of Kyogo. Lesson from last year – stick to what you’re good at. Stay in your lane and don’t suppose because you’re excellent in one sphere you’re excellent in all.

  9. onenightinlisbon on

    See our former manager was given £6ook to part company with us. what a legend that guy was…..

  10. TIMMY7_NOTED on 8TH NOVEMBER 2021 9:10 AM



    I have to bring some very sad news to the blog this morning. My friend and huge tim Squire Danaher passed away yesterday, I’m not going to go into the details on here but thought anyone who knew him would want to know.



    He’ll be hugely missed by everyone who knew him.





    Timmy would you know if flowers or a card would be acceptable as a show of sympathy for S.D.


    I hope all is OK with you.drop mej an e-mail on-


    antearmann1967@gmail.com hope your well



    Hail Hail to fine Celt Squire Danaher rip.




  11. Condolences to the friends and family of Squire Danaher, a well-informed poster who was always courteous in dealing with other contributors this site.

  12. I loved the reporting in the laptop loyal articles on their accounts. One I scanned put the commercial/retail discrepancies down to “differences in the way the clubs ACCOUNT for the retail contracts” or some such nonsense.



    Not that our contracts pay more than theirs, its all just complex accountancy stuff, nothing to see here move on.




  13. MADMITCH on 8TH NOVEMBER 2021 12:55 PM









    You are having a laugh regarding the NB deal — huge step backwards for us.





    You only have to look at the improvements from 2020 to see how much was wasted with that deal.







    Surely this was not another of PL’s business calamities?




    Really?How much did that revenue bring to the club.Do you know the figures.PL.Whatever else about him,I can’t remember him ever getting us a bad commercial deal.But you say the New Balance was”Calamitous”.In what way?Please inform.

  14. At times like this the connection made with a Moniker on this place becomes part of your life. Like most of us I only knew Squire through his posts – RIP Squire Danahar, we are poorer without you.

  15. RIP Squire Danaher. Total shock. I think it was only last week that he responded, in his usual courteous manner, to a post of mine. Sincere sympathies to his family and friends.

  16. Prayer said for Squire Danahar. Thoughts and condolences to his family and friends. Will remember the Squire at Mass tomorrow. Rest in Peace.

  17. Sad News, indeed, about Squire Danahar, a knowledgeable, pleasant, helpful, poster.


    He will be sadly missed.


    Love to all his loved one, at this difficult time.

  18. Shocked to read of the passing of SQUIRE DANAHER, a fine contributor to this Blog.



    Prayers said for his family and friends at this sad time.






    Thanks for letting us know, he will be sadly missed.




  19. 67 European Cup Winners on

    Paul67 . All good stuff and yes we seem to be commercially better than them



    The £13m benefit allowed us to buy Barkas and Ajeti




    If they win the league this year the numbers will reverse



    Delicate 6 months coming up for Celtic


    I feel better this year than last


    But we have our hands full


    Never underestimate a hungry in




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