Celtic published their preliminary results for the year to 30 June 2022 yesterday. After two years affected by the global crisis, results on and off the park are back on form.
Accounting standards require Celtic to compare results with the previous year, however, the crisis makes comparisons with years ending June 2020 and 2021 unhelpful for strategic trend spotting (clearly, all indicators were significantly improved on both years).
Where appropriate, we will compare to year ending June 2019, the last season with full attendances, which also saw Europa League participation.
Headline figures are eye catching. Income was £88.2m (2019: £83.41m), expenses were higher still at £91.7m (2019: £86.94m). That small trading loss was more than offset by the busiest 12 months transfer activity in recent memory.
The financial year encompassed three incredibly busy transfer windows (Jul 21, Aug 21, Jan 22, Jun 22). Odsonne Edouard and Kristoffer Ajer made up the bulk of the £29m income from player sales. Most of that figure goes straight to the bottom line.
Deals to sign Liel Abada, Carl Starfelt, Josip Juranovic, Giorgos Giakoumakis, Alexandro Bernabei, Cameron Carter-Vickers and our four Japanese players were all signed during the 12-month period. Jota’s permanent signature was publicly announced on 1 July this year, it is unclear if this deal was also included in the figures to 30 June, we will find out when the annual report is published.
Total spend on player registrations for the period was £38.4m. This clearly represents the bulk of the spend for two years. While it is astronomically high, it is not appropriate to compare to any one year.
Profit is right on Celtic’s trend: appropriately small at £6.1m, with cash at 30 June of £30.2m – which is net of bank borrowings.
Income from football and stadium operations softened by around 1% since the last fully open year, £42.782m (2019: £43.252m. Multimedia and other commercial is also down, £20.528m (2019: £22.082m), due to fewer games and less prize money in the Europa League.
These falls were more than offset by merchandising income of £24.925m, a 38% increase on the £18.076m earned in 2019. Every year at this time we track this figure, it is a key metric that Celtic can budget on to offset inherent risks in European prize money. Income here has almost doubled in six years, from £12.577m.
This increase alone bridges more than half the gap between Champions League and Europa League revenue. Compared to where we were six years ago, it is as though the commercial department are bringing in Champions League money every second year.
It is a key component in why Celtic can continue to trade normally without adverse results jeopardising the club. The partnership with Adidas and (subsequently) JD Sport has been enormously beneficial. Much of the reason why we were able to rebound so successfully from the failures in 2020-21 is down to the achievements of the commercial team.
Chief executive Michael Nicholson, in his first review of our annual figures, made two points worth bookmarking.
“UEFA announced… a new Champions League format post 2024…. There is an expectation that, once implemented, this would lead to increased media rights, which would in turn benefit all participating clubs”.
“UEFA introduced significant enhancements in financial governance by introducing new Financial Sustainability Regulations to replace the previous Financial Fair Play Regulations…. These are being introduced on a phased basis from summer 2022 and have the effect of introducing more rigorous spending controls and more definitive sanctions in order to create a sustainable future for the European Club environment.”
The European game changes both financially and competitively in 2024. Celtic have targeted this date for a while and want to be part of the story.
Uefa’s FFP spending controls and sanctions have been opaque since their inception, which has competitively hampered Celtic. What to do about it?
Michael Nicholson went on to say, “Celtic played a significant role at a strategic and technical level in the development of the new regulations, continuing to demonstrate our strategy of participating and contributing to the future of the game at the highest level.”
One of our old pals played the significant role at a strategic level in putting this right, while one of our current backroom team was an architect of the technical details. Despite the bevvy of trophies we’ve won in recent years, I believe Celtic suffered most in European football from the financial mismanagement of others. Some who bore the scars of this issue got to write the new rules, the consequences of which hit home elsewhere this summer. Perhaps some compensation.
Great results, well done to all.
335 Comments- Pages:
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PictureThis Scotland
@74frankfurt
·
Sep 15
‘You need four men at the back who can tackle, four in midfield who can pass the ball, and two up front who have pace and can shoot. Then, as long as the balance is right between right-sided and left-sided players, you’ve got a team.’
https://twitter.com/74frankfurt/status/1570302676948353024/photo/1
SFTB @ 7.03
You are an excuse monger par excellence.
Four points detailing similar levels of tripe.
If it is all down to the manager and the players then why were we paying PL big / huge bucks for 15 years plus?
Who needs a board — we should be picking up fans from the cheap seats and just letting them get on with it.
MADMITCH
You really should speak to someone about your PL obsession.
BOURNESOUPRECIPE on 21ST SEPTEMBER 2022 8:31 PM
Could be a new world record for the number of times you’ll hear someone say Sam
————————-
https://www.youtube.com/watch?v=fOad90BvvjM&ab_channel=BBCStudios
Armstrong misses a great chance with a Christie impersonation
Adams off the bar and then a header saved from 2 yards out
Scotland well on top second half. Very unlucky in front of goal.
Another sitter missed- Armstrong
Is the wee leader ready to start awe the lockdown patter again?
https://twitter.com/Freerangescots/status/1572578739896332292?s=20&t=ic_GY_PWt4VSF-MtW-753A
only asking.
Armstrong’s quiff
McGann 1:0
McGinn scores…………Lawwell to cop it
Well done McGinn.
“ It wasn’t a red card but should have been more than a yellow”
Alan Hutton
Big haddie Dykes gets number 2
Taylor getting the last 5 minutes
3:0
Finishes 3:0- well done Adams, Tierney & Hickey
BRS
So Hutton suggests playing the orange card then?
Scotland well deserved that. How has the war affected Ukraine?
TMcL @ 9.01
Root cause analysis — PL is / was hopeless / useless / clueless in equal measure.
He was the public face of DD’s laziness / ego / greed.
PCS @ 9.45
The war seemed to be a long way away last week.
Armstrong has always been USELESS for the national team. I remember him setting up Kane for the last kick of the game. Useless.
SA = Good player but has always struggled when dealing with new environments / challenges.
Intelligent player / great movement / poor finisher.
Premier Sports getting as bad as Sky Sports for ex bluenoses ,Miller and Hutton ,also Dodds sister of Billy ,why is that .
garygillespieshamstring on 21st September 2022 8:23 pm
Scullybhoy
Wild stab
Partisan Tirana b Celtic
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
You deserve a medal! That is scary. https://wikifoundryimages.s3.amazonaws.com/amJhaE8ZHGFgojJC_fSwdQ1337207
BTW Well done Scotland = because of the Celtic connection.
Hope the Republic can do me proud.
COYBIG
Armstrong was excellent tonight.
https://i.pinimg.com/originals/d7/a6/6f/d7a66f091b99ba385bd604b094b58f55.jpg
Who is the Bhoy in the picture?
Guttman
Sorry Tom = no. (Clue – Celtic academy)
Last one = too much wine.
Who is the Bhoy?
https://i.pinimg.com/originals/bf/b7/b1/bfb7b129873a0e08374b0746af7b5e0e.jpg
Stevie Clarke got his tactics spot on tonight. And some terrific performances. Not sure if Craig Gordon had a save to make. Great result too, sets up a big game with the Republic at the weekend. Really a back up tournament for the Euros, but if you’re in it……..
BTW – sorry if this is poor – but off to bed. Joe GGHS or BSR or JOE67 will get the answer. :- )
Well done Scotland,Merited victory
All Celtic related players played well for Scotland,the pick for Ukraine is Mudryck.we need to watch him.
Onto Ireland at weekend
A victory for sure to Scotland ,we know no one in Ireland will touch a mural and big Dykes has one on the side of his heid.:-))
It’ll be a bit o craic anyway having the ancestors over 🤪
HH
Scullybhoy- Dixie Deans – looks like 1973 Scottish Cup Final
King Kenny Dryborough Cup Final 1975?
2-2 Celts 4-2 after penalties
Jinky scored the winner sparking mayhem on the streets outside.
SCULLYBHOY on 21ST SEPTEMBER 2022 10:02 P
Sorry Tom = no. (Clue – Celtic academy)
Last one = too much wine.
Who is the Bhoy?
https://i.pinimg.com/originals/bf/b7/b1/bfb7b129873a0e08374b0746af7b5e0e.jpg
king kenny 77 on 21st September 2022 10:35 pm
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Struggling to keep awake = well done. I loved King Kenny and (whisper it, think he was the best Celt ever).
Probably an outcast after last post but = a potential debate????????????
TOM
https://img.a.transfermarkt.technology/portrait/big/423757-1628516415.jpg?lm=1
Think of Celtic reserves.