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.
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Big Jimmy- studies have proved, there is zero evidence to show pubs and restaurants are not transmission points for the virus, governments don’t have a clue what to do next,but need to be seen to be doing something.
Double negative there….not transmission points for the virus.
Jamesgang’s comment earlier made think of the peerless Andrew Weatherall’s motto: “Fail we may, sail we must.”
I’m struggling to make it work for where we find ourselves, but there you go
“We’ll still win the league with Lenny in charge“ doesn’t have the same ring to it but it’s still happening.
Big Jimmy – will tell Mrs David66 you were asking after her.
MM – Oh i forgot about the Bealester supreme.
D :)
Bada
Anywhere in an indoor setting is a possible transmission point.
Jack Black on the most recent Celtic Underground podcast is an interesting listen.
Ten in a row has gone and we only have ourselves to blame.
Not looking to pick sides on the COVID-19 issue but just remember that when you hear on the news that someone else has passed away then please remember that there are real people behind those figures . The 1 death recorded yesterday was my mum. This virus has no respect for anyone or any location. Please be careful. My dad lurks on here so not looking for debate. Just letting people know that this virus can take your loved ones so quickly.
Paul TS
My your mum rest in peace, well said .
may
“DBHOY on 27TH OCTOBER 2020 6:06 AM
AN TEARMANN on 27TH OCTOBER 2020 4:08 AM
He makes some good points there but I’m wary of videos that are so heavily edited. The missing material can sometimes give the speech a completely different complexion.
HH”
If you are interested, the full speech is just underneath the edited version.
Apart from the clip itself, I liked the fact that it led me to this wonderful quote:
`“Those who can make you believe absurdities, can make you commit atrocities.”
Paul The spark
May Perpetual Light Shine upon your Mum
Thoughts and Prayers with all the family at this very difficult period
May your Mum Rest In Peace
Crossword:
Dull weather? -Don`t start ,if not. (6)
– n – e -s.
I respect all the views on here, good to see winningemmell posting, but I concur with madmitch, SydneyTim and others that the direction the club is going in financially needs to be addressed quickly.
Since 2011, during 9 in a row, this board has played a blinder….compared to the Kelly /White/Kelly boards.
The latest financial figures sound the alarm bells, we need different horses for different courses.
More de-centralisation at the club and moderation in salaries for our top earners.
fallingondeafearscsc
Paul The Spark
Good point well made.
I offer my condolences.
GENE on 27TH OCTOBER 2020 10:49 AM
Bada
Anywhere in an indoor setting is a possible transmission point.
Absolutely, but if you close a industry, you need to be able to justify it.HH
HOT SMOKED on 27TH OCTOBER 2020 11:12 AM
Thank you for the heads up.
Voltaire apparently was the source of the quote and how true.
HH
Paul The Spark- sincere condolences, I hope my recent posts, are not offensive to you and yours, it was a previous discussion on here.HH
PAUL THE SPARK on 27TH OCTOBER 2020 11:08 AM
So sorry for your loss.
HS
How about “unless” for your crossord clue.
Bad weather= (s)unless
Paul The Spark
May your Mum RIP, I’ll add her to my prayers.
HH
Bada Bing
No offence taken at all.
IMO, the negativity on this site is because of two things:
a) The bombardment of anti-Celtic stuff from the MSSM DOES influence people;
b) We played badly and lost to Sevco.
Paul the Spark – Sincere Condolence’s on the passing of your mum.
D :(
SFTB
That`s it !! Thanks. As always with these things, as soon as we hear it, it seems obvious !
Hope we can have a pint again some time in the future.
Thanks again.
Does it say how much and how many claimants on the refunds? I was in two minds until my wife told me i had to take it if i was paying for this season
Hot Smoked
Age is definitely a factor on negativity. i have a wee messenger group during games which has my best mate and his son on it. His son goes mad at my downers!!
Bada – I’m afraid you’re not seeing the evidence, but it’s there if you look. Aberdeen in August is a recent example of infections being seeded in hospitality venues, but the literature is full of spreading events centred on social spaces.
In simple terms, the virus spreads where people interact. The greater the number of people gathered together, the more probable it is that there is an infectious person present, and the more enclosed the space, the higher the risk of others being infected. This is Covid-19 Transmission 1.01.
High risk environments are thereafter pretty obvious: Churches, function rooms, commuter trains and buses, workplaces and yes… pubs and bars.
A given priest, bus company or publican might claim that there is no evidence of people being infected in their church, their buses, their boozer and they might well be correct. But this ignores the probability of transmission across all churches/buses/pubs etc.
In the Lanarkshire Health Board area in the past week there has been an average of 388 positive tests reported each day. These are primarily people with symptoms who have requested a test. Symptoms appear on average 6 days after exposure, the test taken the day after symptoms onset, and the result confirmed 2 days after that. In effect, the number of cases reported on a given day represents a proportion of the number of people infected 10 days previously.
We know that around a third of people show no symptoms, and a considerable number of others have mild symptoms and do not seek a test. Accordingly the actual number of new infections is estimated to around 3 times the number testing positive.
Taking that as the basis of a fag packet calculation, we might estimate around 1200 people were infected each day in Lanarkshire in the week 9-16th October, say 8,400 new infections that week.
The R number in Scotland for last week was estimated at 1.3, meaning that it’s thought likely that the 8,400 newly infected people went on to infect a further 10,920 in the following period. The majority of those ‘secondary’ infections live in the same household as the primary case.
The infectious period starts around 2 days before symptom onset and lasts 10 days after symptom onset. We might consider then that the total number of infectious people in Lanarkshire today is 10,920/7 x 12 = 18.720. Only those with a positive test and their immediate contacts are isolating. That’s 4,140 positive tests in the past 12 days, plus their households, call it 9000 people in total IF* they all isolated as instructed. That leaves 9000 odd folk who are not isolating.
In summary, if folk everyone who was asked to isolate has done so, there are likely to be around 9,000 folk in Lanarkshire going about their business today oblivious to the fact that they are infectious to those they come into contact with.
9,000 folk in a population of 650,000 is 1.4%. You don’t need your bookie to tell you that there is an evens chance – 50:50 – that there is an infectious person in every crowd of 35 people gathered randomly together in a given church/bus/venue in Lanarkshire.
After that, it’s a question of proximity and time. How close for how long?
Now, about that pint round the Monty.
Stay safe.
EggSookingCSC
Coneybhoy
Good point re age.
I have read that negativity is to do with the surviaval instinct. eg The positive caveman who walked confidently towards the saber-tooth tiger was less likely to survive than was his suspicious counterpart !
Hot Smoked
Johnny Giles was on RTÉ last week on video link talking about how scared he was of getting Covid and dying.
Claire Byrne the presenter didn’t seem to be getting his seriousness due to him being a famously tough midfielder in his day. He made the point again to make sure she and the audience got it.
PS
Re: cavemen; i was on a course once where they advised being second to market or second with a process as you will get it right after the first guy makes mistakes. Betamax , Friends reunited etc. Apple and McDonalds ruin that argument of course
TBB- Thanks for your excellent reply, yes we have had super spreader locations, Aberdeen pub being one,a guy was on yesterday saying he knows of a chain of 7 large bar/restaurants in London, zero cases from over 275,000 covers,how can you justify closing businesses, who have complied with all the safety measures a d more? We will close you,as you might get a Covid case? None of it makes sense, as we know, given Paul the Spark’s post ☝️I think I will change the subject, thanks again for your reply, you’re posts are always worth reading. HH
If/when life returns to `normal`, I am going to take a trip down to my Home Town to have a pint in The Old College Bar in the High Street.
da da da
Paul the Spark, that’s terribly sad news. I’ll keep you, your Dad and the family in my thoughts today.
HOT SMOKED on 27TH OCTOBER 2020 11:46 AM
Better hurry jinbhoy it is getting knocked doon soon.
FU
I had heard that. Student accommodation, apparently. Is that still happening?
HS- That sounds like a plan,hope you are well.
JJ
I think the last time I had a scoop in the Old College Bar I was staying up the hill in the halls at Birkbeck Court. Fair to say both me and the bar are somewhat older now…
The pub was saved from demolition after developers had a change of heart over plans to convert it into student housing last year.