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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Hot smoked
Unless
Hot smoked
unless
So good I posted twice
Gene
Thanks….but SFTB beat you to it !
FU,Bada and TBB
Let`s make it a date when Covid permits.
Hot Smoked
As SFTB says Unless
JJ 👍🍻
🍻👍
trying again
FU is playing hard to get !
Cheerio for now.
JJ
full accounts over here –
https://www.investegate.co.uk/celtic-plc–ccp-/rns/results-for-the-year-ended-30-june-2020/202010261635052463D/
new article posted.
Not there Paul
naw it isnae
The new article is asymptomatic and therefore isn’t visible.
AN TEARMANN on 27TH OCTOBER 2020 4:08 AM
S T
Sacha Baron cohen on internet ownership
https://twitter.com/CoffeeForever5/status/1320876788608692224?s=09
hh
__________________________
That’s a brilliant link. Quite brilliant.
After a tough European match in Thursday night is a 3-3 draw an acceptable result?
Asking on behalf of an AC Milan supporter.
p.s. where’s the new article?
Wee Jamesie wrote the new article
it can only get better
Calum’s article
The new article is a bit like our defense – you know it’s there but can’t quite see it
AN TEARMANN on 27TH OCTOBER 2020 4:08 AM
S T
Sacha Baron cohen on internet ownership
https://twitter.com/CoffeeForever5/status/1320876788608692224?s=09
Thanks for sharing, very powerful.
Gene- VG
Winning Gemmell
Great to see you posting last night.
has our captain been cited yet
Some Celtic fans:
Brendan Rodgers, what a disloyal rat.
Same guys, after 11 league games:
Sack the manager!
PaulTheSpark
May your mum rest in peace. 🙏🏻
What Larks Paul What Larks
Mon the new article CSC
PAUL THE SPARK
Thougnts and prayers with you and your family at this hard time for you all.
PAUL THE SPARK
Requiescat in pace
Paul the Spark – really sorry for your loss. That’s devastating. May your mum RIP.
erm, that’s it now.
Paul the Spark, take care.
Paul the Spark – so sorry for you, your dad and family for the loss of your mum – RIP.
This terrible disease is causing so much despair.
Just heard a half hour ago about a friend’s dad – a great folk musician from Airdrie – succumbed to Covid-19 yesterday. RIP Mr McCann. So many families being hit so hard.
HH
BGFC
Paul The Spark – So sorry to hear your news. Take care and try to be strong for your Dad.