Celtic’s annual revenue for the year to 30 June 2020 was down £13m to £70.233m, all or most of which will be due to the effects of Covid on the club. Expenses are sticky, though, so the gap between what we earned and operational spending grew to a £10.3m deficit. The net cash position dropped by a similar amount to £18.2m.
It was a busy player-trading year. Kieran Tierney’s departure to Arsenal pushed sales to £24.2m (2019: £17.7m). No matter how you viewed this transfer at the time, it did not cost Celtic a trophy and the cash will prove invaluable at seeing us through the crisis.
Player purchases topped £20m, a hefty uplift on £6.2m from a year earlier. Success is seldom cheap.
Celtic resisted the temptation to sell any of their top assets in the summer and will do so again in January. This season’s operational finances will be a sea of red. Looking at these figures, you can anticipate those who wanted away this year to be allowed more freedom between the end of the season and 30 June 2021.
A final but important point. Peter Lawwell’s statement included the following:
“I sincerely thank our fans for backing us in the summer of 2020 with a remarkable response to our season ticket campaign and the outstanding generosity shown in backing Celtic FC Foundation’s Football For Good initiative, all against a backdrop of being unable to attend matches and an uncertain economic environment.
“Your support has arguably never been more important than the present. The dedication and sacrifices made by the support are fully understood by both your Board and myself and are not underestimated or taken for granted.
“Finally, I would like to thank our employees for whom this has been a deeply unsettling and uncertain time. Their commitment and dedication in the face of the numerous challenges has been an outstanding reflection of their character and the values of our Club.
If ever a time demonstrated the difference between supporters and fans, it is now. The support offered to Celtic by tens of thousands during this time will be a reference point for generations to come. We never cleared ground to build the first Celtic Park, but when the call came we answered.
224 Comments- Pages:
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Hail Hail
Lashing out and calling for the Managers head is dumb. Everyone needs to keep calm. We will come good and we will win the League. It wont be easy but we need to knuckle down and accept this is a difficult time and things have and are going against us. But we will come good and soon and when we do it will be a matter of time before we hit the front and doubt sets in elsewhere.
we need to keep our heads and not buy into all the negativity circulating , the
support with season tickets clearly shows we are
obviously better than that , we are Celtic supporters
Get behind our manager and bhoys and stop retweeting, facebooking .whattsapping crap ,
HH
“The dedication and sacrifices made by the support are fully understood by both your Board and myself and are not underestimated or taken for granted.”…..
I really hope (and surely not unreasonable to expect) the managers of the Club to live up to this declaration in a practical way in seasons yet to come.
HH
Keep The Heid and Keep The Faith.
HHH.
Forgive me for not cracking open a can of Irn Bru [I don’t drink alcohol]
I would like to know what the club are doing about the alarming performances and now results this season?
If not a change of manager could we be doing something about the coaching set up?
It appears flawed.
Whilst recognising we have issues to sort. I will Always support the team & while I feel sorry for NL & slightly worry, I still think we will turn this around .
Ok, now waiting on being blamed for supporting the team.
HH
don’t mention upgrading our coaching staff on here , will upset a few, professional players don’t need to be told how be organised on the pitch they just do it naturally because they get paid thousand of £’s.
The Herald running a poll as to whether Neil Lennon should be sacked. Hunbelievable only in Scotland.
They seem to have pulled the page.
https://www.celticnewsnow.com/news/celtic-poll-should-neil-lennon-be-sacked-as-hoops-manager-or-are-calls-to-bin-him-premature/363443/
ADI_DASSLER NOT FOR 2ND BEST on 26TH OCTOBER 2020 6:25 PM
My question is what can our board do to HELP the current manager?
We all know where this train appears to be heading and it is not a destination any of us want to be at.
I feel from my own dumb view that a genuine top level coach could be brought in to aid him.
I have no confidence in the coaching team we have.
I agree that taking Neil out of the picture right now might cause more harm than good.
He has many qualities but I would like a coach in the calibre of Chris Davies who was crucial to what Brendan Rodgers did at our club.
rangers are playing well and building confidence but they are also riding their luck big time.
Before Roofe goal, standard L missed an absolute sitter and twice hit the woodwork. Livingstone missed 2 sitters yesterday. They got Celtic at the best possible time with COVID disrupting our defense, midfield and attack.
The will hit their bumpy patch one way out the other and we need to be resilient and persistent until then.
We have shown signs of the Celtic spark – the mistakes, whilst not acceptable, are understandable given Julien, Biton and El Hamed. Duffy has played too many games in a short period having been out for months prior.
I’m concerned about Julien – nothing showing up in the scans but he is not able to play football. Hope its not excuses and they find and fix the issue in Germany .
Semi final , Cup final could kick start us
Lennon manages very well when faced with adversity – this season could very well be playing right into his hands!!
STEBHOY on 26TH OCTOBER 2020 6:34 PM
I would love that to be true.
But something seems very different about him and the celtic team this season.
Ramon Bawbag talkin shit* on Stv sport
qué sorpresa
Paul67
Mon the Hoops 👍
Look. Neil is being pursued by the media and some of our own
Gerrard is the first Rangers manager to go 2 and a half years winning nowt. No calls for sacking.
Kevin’s is a coward. Whilst Ian Archer called out Rangers no catholic policy his view was that’s the way it is. Ignore him
Support Neil , support the players. Duffy will come good. Can Dyke was crap when he arrived here
My only criticism is that Soro should be well ahead of Nitcham. He goes forward ALL the time
Hail Hail
Spelling probs sorry!
A third of the season played and we are lacking confidence, Neil Lennons words.
Need to find a formation that suits and none of our centre forwards are match fit.
You couldn’t make it up.
But don’t worry, it will all sort its self out
PINTAGUINNESS on 26TH OCTOBER 2020 6:46 PM
Spelling probs sorry!
—————————————————————————————
Would I be correct that you meant Keevins, the description fits. :)
I scratch my heid with some of the stuff posted on here sometimes. van Dijk was not crap when he arrived here. He was pretty damned good, a 22 year old developing his game.
He became better with each passing season here.
Seven years on, he’s now considered one of the best central defenders in the world.
Saying that, he’s still not as good as he thinks he is.
My (temporary ?) return to these hallowed pages is possibly the last thing you require at this juncture but I have some time on my hands these days ….with probably egg on my chin to follow.
Let the immature post begin…… for I can construct no others….
We have been dealt a dodgy hand so far this term – sevCovid, injuries, Griffitis and the Europa League draw from Hell (did top seeding ruin this year’s crop ?) threw us together with teams who are on the….UP….on the continent whilst the darnel is flourishing in our domestic field. You may remember the punchline…..let them grow then weed them out at harvest time.
They, on the other hand, believe they can make points hay while we are in pursuit of another boring, fourth successive Treble. Here is the crux. Scotland and Britain is bored with our success – “we are sick of this unsatisfying food” – if we win the Scottish Cup/Treble attention will be diverted elsewhere, our achievement wont be diminished it will be ignored. They are all in agreement – change will be good/is necessary for Scottish football. The smaller clubs are hacked off by our Monopoly and the English think it’s Tiddlywinks – they are only interested in Gerrard and the rise of of a new unionist/loyalist/royalist footballing entity/symbol in a country which seems to be at odds with England in every other sphere.
The Scottish media scent blood and believe this time it might not be a false trail – plenty foxes abroad as the clocks……..change. They have been disappointed often enough and the real sore one was Hibs. They are desperate for us to fail and have been for some time. Anyone who could/can thwart us would and will do and in the first half of The Nine they had some joy (honest mistakery……) but of late…. eyewiz the bridesmaid…. This will not do. For a while Aberdeen were a softish threat but McInnes could never get it together when it mattered. Their hope has long been invested in a Strong Sevco and here we have it…… salivating and lip-licking at the prospect of our long-awaited demise led by the usual cheerleaders and traitors…….better for them if they had never been born He said.
I’ve seen most of it before but never such raw desire verging on lust, stoked on a fire of hatred, bigotry and envy.
We should be motivated as never before.
WG, ML2
did we manage to leave them in the other pub ?
Sevcovid!
MM ( over on the last Blog – please keep up )
OFFS
GTF CSC
HH
SFTB
Greetings Tony HH
WG
God Spares me I’ll support Celtic next season ,with renewing my Season Ticket,as for Neil Lennon saying Big Duffy will get better ,I hope so,but to be honest I can’t see it,The Bhoy at Motherwell Gallagher would have been a good acquisition to the Club.
WINNINGEMMELL on 26TH OCTOBER 2020 6:59 PM
no egg on chin, excellent returning contribution,
ps, King Kenny says Neil will get it right, why wouldnt he, he has done it all before.
WG
Mon the Lupins
HH
PINTAGUINNESS,The way you are rambling on ,I thing your on the Guinness,what are you talking about.
How come no Rangers player has tested positive or been forced to self isolate.
That is the question a lot of people are asking…The only football club not to have a player test positive for Covid…another world record ??
Winningemmell –
Great post.
cqnpoty@gmail.com
Anyone who wonders what the role of the bloggers REALLY is … it’s countering the doom and gloom reportage of the mainstream media to focus on what these figures actually reflect; strength.
For all I might argue with elements of the strategy, we are in a damned good position to weather the swirling crisis football and the world finds itself in.
https://thecelticblog.com/2020/10/blogs/ignore-the-media-tides-of-doom-celtic-posting-an-annual-profit-was-a-minor-miracle/
WHAT IS THE STARS
Go on outta dat 👍
Does anyone know the guy Barry who just phoned Clyde trying to convince Alex Rae,,,Alex F*** Rae..that Neil lennon was no good.
What is wrong with people?
Rae would be loving it. Barry you should be thoroughly ashamed
If that’s what has happened to us with full accountability, well funded and prudent spending of our own money then how bad are Sevco’s finances? It has been alleged either Sevco are trading insolvently or they’re a criminal enterprise. Or both?
MCPHAIL BHOY:
If Scotland had a RICO statute the padlocks would be on the gates already.
Some interesting takes on the team’s performance yesterday.
However some things seem to be missing in most.
The most basic point is that didn’t play with a proper DM.
SB is not a proper DM although at times he has done enough to get by.
CMcG definitely is not a DM — can’t tackle and is not direct enough when the going gets tough.
Last 10 minutes had him trying too hard — result two dangerous free kicks and a penalty given away.
Surely never again.
However he was not the biggest disappointment — RC step right up for your wasteful / lazy / self indulgent / sloppy nonsense where you suited yourself and passed the ball in the general direction of a team member.
Some of his final balls were in the couldn’t care less category.
No focus / no drive / no desire — just on the look out for the odd Hollywood moment and hide when you are really needed to get things moving.
On the other hand ON did try and put in a shift but he is wasting away at CP — neither trusting the coaching staff or mature enough to keep his desire and focus. His play was at times very good but at other times he was very sloppy.
A good coach will get him back on track — unfortunately we don’t have any at CP at the moment.
Finally the memory of CMcG telling DT what to do when he came on is the defining image of the game.
Everywhere else the player coming on carries instructions from the sidelines regarding what he has been told to do and how it will affect the others on the park.
If we lose the league this year — we still have time to save it — this will be the season in an instant.
MCP bhoy
We will never know, their accounts show losses trading shortfalls and a requirement for money to keep the show on the road, a benefit of King having them delisted removed any scrutiny because football in the form of the SFA and UEFA will do nothing.
I saw McLeish mouthing about going for 55 , I really hope he got a tax demand from HMRC for his EBT, it is not too late but maybe a forlorn hope for our club /plc say they do not recognise anything won by this entity prior to 2012.