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.
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CB @ 11.15
2018 — BR had three transfers lined up.
Unfortunately BR had broken DD’s heart.
Flashed his knicker elastic at the big money Chinese club.
PL was let out of the box and sunk all three.
Not a happy time.
70 million voters………………
Immaculate declassification.
Trump says you can declassify documents by just thinking about it
https://twitter.com/Acyn/status/1572764115885772803?s=20&t=CdPHMoXolvMdz-o82lYMJQ
This is Trump declassifying stuff
https://twitter.com/RandyB066/status/1572764397835268096?s=20&t=CdPHMoXolvMdz-o82lYMJQ
Back to……
“ Sir!… Sir!… Here’s a good stick, to beat the lovely lady.”
Fishwoman to Sean Thornton
MADMITCH @ 11:18 AM,
No, hope we have moved on and it’s lessons learned
When it was going on I remember saying, hope the egos have landed…
Some hope.
Hail Hail
NHS concerns in Northern Ireland ? Tories have trashed the NHS
Sinn Fein may not have the hard sell some think, of course when you are in complete denial with your political unionist friends thats no surprise
More than half of maternity units in England fail consistently to meet safety standards, BBC analysis of official statistics shows.
Health regulator the Care Quality Commission (CQC) rates 7% of units as posing a high risk of avoidable harm. A further 48% require improvement.
The figures are slightly worse than a few years ago, despite several attempts to transform maternity care.
The regulator says the pace of improvement has been disappointing.
In most cases, pregnancy and birth are a positive and safe experience for women and their families, says the CQC. But when things do go wrong, it is important to understand what happened and whether the outcome could have been different.
Laura Ellis lost her newborn son.
She checked out the CQC rating of her local hospital, Frimley Park, when she was pregnant. Maternity services were good.
But Laura did not realise the unit had been told that it required improvement on safety.
She went into labour after an easy pregnancy, and got to the birth centre around 16:40.
But within an hour it became clear that the baby was breech, meaning that instead of being head-first in the womb, the legs or bottom were down, making delivery harder.
Laura remembers that there seemed to be a “complete sense of panic” in the room and that no-one seemed to have any idea what they should be doing.
Just after 18:00, the baby’s legs and chest had been delivered and the midwife said she could feel a heartbeat.
But a few minutes later, a senior midwife tried to listen for it with a stethoscope – and could not hear anything.
Laura says she was told that the stethoscope was broken.
When her son, Theo, was fully delivered at 18:13, his heart had stopped beating.
Medical staff tried to resuscitate him. At one stage, the oxygen canister used on Theo ran out, before being replaced.
Laura and her husband James watched, slowly coming to the realisation that their son was probably not going to survive.
Doctors and midwives stopped resuscitation after 39 minutes.
Laura describes Theo as “the most perfect baby, just absolutely beautiful”.
“It was just so hard. So hard to deal with. So hard to leave as well. How would you leave your baby in hospital when you should be taking them home?”
Frimley Park NHS Foundation Trust says it is extremely sorry for what happened.
It says it has made a number of changes since Theo died, including an emergency response if a baby is unexpectedly breech during advanced labour.
CELTIC40ME on 22ND SEPTEMBER 2022 10:06 & 10:18 & 10:36 AM,
Yet it was the manager’s reaction that got me, he certainly didn’t feel he was backed.
Haha! I’ll bet he didn’t.
That wasn’t moneyball btw, but the success of our player trading model is a different argument that’s been done to death, I’m sure you’ll agree.
I’m glad you’re with me on Lenny’s second spell. He was backed, even more than Ange has been, so I can’t really spot the difference between our m.o. before PL left and after, which is what this is all about after all ;)
ERNIE LYNCH on 22ND SEPTEMBER 2022 11:09 AM
You waited patiently for that opportunity ! Glad I was of service :-)))
Cheerio for now.
BACK TO BASICS – GLASS HALF FULL on 22ND SEPTEMBER 2022 11:10 AM
Looking at the posts relating to the statistical tipping point in Northern Ireland ….
… Brenda never lived to see it. Wonder what her thoughts would have been.
###
I’ve suggested before that the British deep state (sounds sinister but is just the people who administer the state and who remain in office while politicians come and go, all states have them) formed a view in the early 70s that the best long term outcome for all concerned (given that there was a degree of historical inevitability about it anyway) was a united Ireland on good terms with the remainder of the UK, and that has been the ultimate destination since then, however much events and here today gone tomorrow politicians have stood in the way.
The royals, being above all pragmatists, probably have been of a similar view, and the queen played her part in moving things in that direction. The exchange between her successor and Alex Maskey and Michelle O’Neill maybe indicates that he is going to carry on where his mother left off.
Madmitchs- have you gotten over your own identity crisis
6.43 last night.
You having a wee existential crisis? Well one o ye,
The realms of attention seeking trolling.
All very boring mitchs,any chance of goin onto tunnels to the vatican stadium design,it’s to say Peter Lawell,living safely in real life,next time I meet my ol school mucker,I will ask how he done a jobby in the inside of your heid.it happens I guess.lol fun to watch you just not coping
HOT SMOKED on 22ND SEPTEMBER 2022 11:33 AM
It’s a point that I will continue to remind them of.
Feckin eejits that they are.
That awkward moment when you’re blog name is more interesting than you 😉
LIONROARS67 on 22ND SEPTEMBER 2022 11:32 AM
And yet it’s the main reason NI Catholics cite to explain their reluctance to reunification.
IrishExaminer
The Quiet man
That’s the spirit 👍
Good afternoon all from Zante. It’s a hard life.
Poll after Poll indicated growing support for a border poll
Sinn Fein progressing, border poll numbers progressing
NI survey shows half of voters support a united Ireland within …https://www.irishtimes.com › ireland › 2022/08/21 › ni-su…
21 Aug 2022 — Support for DUP stance on the protocol increases to 50 per cent among unionist voters.
New poll finds majority in favour of Irish unity within 20 yearshttps://www.derryjournal.com › news › environment
22 Aug 2022 — Over half those polled in the north of Ireland have said they would or may support a united Ireland within the next 20 years.
Latest poll shows growing support for Irish unityhttps://www.irishnews.com › news › 2022/08/22 › news
22 Aug 2022 — A NEW opinion poll shows majority support for a united Ireland among young people in the north.
Explaining the different results in opinion polls on Irish unityhttps://www.ria.ie › news › explaining-different-results
12 Jul 2022 — Attitude surveys tend to show that public opinion in Northern Ireland, on the political future, has shifted significantly in the aftermath …
Toaty Trumper @ long lie in time
Lots of positive discussions this morning — why don’t you join in?
Change the habits of a “lifetime” and do something useful.
The NHS in NI is a basket case. People are waiting up to two years to see a consultant.
Anyone thinking the NHS will save the union is in for a shock.
An dun
As it is in England,Wales and Scotland
EL @ 11.34
The issue with the deep state is when the deep state talkers don’t agree with the deep state doers — 6 counties in the 70’s being a great example.
The talkers wanted a political solution.
The doers wanted a straight fight with physical force republicanism.
People in balaclavas / Burton’s Commando outfits marching up a road.
Not teachers in cords singing Kumbaya while lying on the road.
Two schisms in the 69/70 period in the 6 counties.
Provos vs Official
MI5 vs MI6
No question regarding what was the more bitter.
63% Difference in levels of poverty between Ireland UK
https://twitter.com/jburnmurdoch/status/1570835455066918912?s=20&t=nNfAkF8W6nfzdy5O1-7EHg
NEW: income inequality in US & UK is so wide that while the richest are very well off, the poorest have a worse standard of living than the poorest in countries like Slovenia https://ft.com/content/ef265420-45e8-497b-b308-c951baa68945…
Essentially, US & UK are poor societies with some very rich people.
A thread:
https://twitter.com/jburnmurdoch/status/1570832839318605824?s=20&t=nNfAkF8W6nfzdy5O1-7EHg
aff oot crank trolls
Home Nations Comparative Analysis of A&E Attendances and …https://digital.nhs.uk › publications › statistical › home-…
30 Sept 2021 — The aim of the group was to look across published health statistics, in particular waiting times, and compile a comparison of (i) what is …
AN DÚN on 22ND SEPTEMBER 2022 12:00 PM
But it is the main reason cited by NI Catholics for not voting for reunification, isn’t it?
I read somewhere that Harold Wilson considered the idea of in effect subsidising Irish reunification by offering the Irish state an annual payment for 15 years to help fund an NHS style system in Ireland. That might be an idea worth revisiting. Perhaps a payment based on the amount it would save the UK treasury.
LIONROARS67 on 22ND SEPTEMBER 2022 12:13 PM
So what’s your plan to help win over those Catholics who are reluctant to vote for reunification?
Browbeat them into submission?
Trash the NHS to the extent that it is no longer a reason to want to remain in the UK?
LR67 @ 12.13
I would want those numbers scrutinised a bit more.
The PPP / OECD filter caveats might be hiding some big issues.
The income gap is very long standing — doesn’t quite smell right.
Plus the long standing issue of people in the UK seemingly having no official income but still having substantial levels of spending.
Plus you have the basic point about the 26 counties — it affords its own affluence / social safety net by stealing bread out of the mouths of poor American children by the way that it aids and abets US tax avoidance.
Not good.
LR67 @ 12.13
Would like to understand how they have managed the exchange rate swings over the 20 years.
The Euro is under pressure.
The GBP fell off a cliff.
Basically the figures don’t smell right.
We are a train wreck now but not 2000 till 2010.
It is funny how the oracle is on the blog telling me how I think.
Mind Control CSC
SCULLYBHOY on 22ND SEPTEMBER 2022 12:56 PM
It is funny how the oracle is on the blog telling me how I think.
###
It’s funny how you think your views represent the views of every NI Catholic.
Even those who don’t support reunification.
1. Please note, and you can quote me, I said, ‘how I think’.
2. Why do you assume that I support reunification?
More comedy gold.
There’s a new article