Celtic reported turnover of £101.6m for the year to 30 June 2018, the first time the club broke through the £100m barrier. Just as income rose from £90.6m the previous year, costs rose to £87.1m (2017; £76.3m).
The club was profitable to the tune of £17.3m, buoyed by gain on the sale of player registrations of £16.5m. Without Champions League football, this season’s results will be significantly different, but net cash (after debt and similar were deducted) was £27.0m, so we can continue to operate without the need to cut costs.
The most striking aspect of these figures is that, with the current wage structure, we are roughly breakeven with Champions League income (before player trading).
We are in the middle of first team contract renewals, which will push wages higher still. We are increasing our cost structure despite the lack of Champions League football, but this is necessary. There are risks (transfer market crash), but these are no more relevant to Celtic than anyone else.
We are never going to guarantee Champions League money every season (no matter how easy your pal tells you it is), so buying wisely and selling before players exhaust their contracts or lose form is critical to the operation. Therein lies the challenge – which is also easy, just ask the same pal.
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Hail Hail
Perhaps Celtics seeming reluctance to speak out on many `issues` is, quite simply, not a simple as it seems.
MiT
Do they also pay people to post unfavourable comments? If so, it would explain Kev`s input :-)
JJ
4th?
The next warning will be….’we don’t want to end up like the team who used to play in Govan…’, too many players, not improving current 1st team sufficiently to make CL…..problems of our own making.
In town for the Celtic Story.
Anyone else going this evening give Ms S and me a shout
HH
Paul67
Be ready for the criticism. Some don`t like talk of Balance Sheets :-)
JJ
Paul67
My pal say’s we should be able to afford a Hibs player if the
manager want’s him.
https://www.youtube.com/watch?v=_gBakgld3JY
Fag packet accountants are scribbling away as we speak.
Oooooo Paul. It’s almost like you had coordinated your absolutely nonsense news management article with Celtic.
I’m sure that isn’t the case……..
Cough……..
After all I’m assured your went in the pocket of the board.
Cough……
But seriously Celtic make up a new daft accounting term. Not co tent with net cash at bank we have the even funnier “debt like items”. What a crock of ….well. I wonder who the accountants are registered with. They can’t be comfortable.
Celtic from these headlines have over £50m in the bank. This doesn’t include the dembele transfer. All cash in bank. So now over £70m.
You are now being told that Celtic NEED to make money in the transfer windows (of course ignoring the £70m.
This isn’t just voodoo accounting. It’s cheating shareholders and supporters.
Paul you are frankly a puppet. And it’s insulting for you to wantonly prepare statements with the board whilst pretending you are independent.
Shame on you.
If we can’t improve the team in a healthy financial year , I’m already getting depressed about next season.
Still, it’s refreshing to read an implicit criticism in the final paragraph of the article even if the ‘pal’ reference is somewhat patronising.
Neganon2
I’m pretty sure Celtic don’t have £70 million in the bank.
The Dembele fee will be received in installments, and we will have similar staged outgoings like Eddie’s fee.
You undermine your argument by exaggerating like that.
Aye but what about the Lou macari money
Paul67
Should have off until Neg was airborne.
held
Any accountants on here? Whose contribution is more accurate, Paul`s or Neganon`s ?
JJ
We’ve got 70mil in the bank now….breaking new records for stupidity
Paul 67.
You make a meaningful article highlighting our incomings / outgoings.
However, me thinks you have also been slightly mischievous. Yes you have got your bites.
HH.
Hot Smoked
If Kev J is getting paid, and I’m not, I need to find myself a better lawyer/agent!
Hey Kev, neg …. maybe we should form a union!
Greenapinata
I think ‘the window’ was just as damaging in who we kept.
We really are stand alone in this country with few allies , we couldn’t offload to Hibs or Aberdeen because relationships obviously took
a hit.
Another classic CQN cliche that recurrs with every single manager, “ We have a bloated squad “
Dilligafbhoy, and Nye
There are good reasons people with your mentality don’t run viable operations like Celtic.
Nye, the media control you. When will you get it that John McGinn did not want to sign for Celtic! He knew he wouldn’t play every week. He said so himself.
There is no sense paying over the odds for such a player. Besides, Hibs had no intention of letting him come to us either.
Dilligafabhoy, “fag packet accountants” ? Really? Did you read the report? We are a huge fish in a fishbowl. A fishbowl loaded against us, yet still we not only survive, we thrive. We thrive despite the best efforts of the sfa to prevent it.
Instead, we are in the black, successful, and still the best in Scotland, with the best record ever from a Scottish club. We fight the system daily. We need people like Desmond, Bankier and Lawwell to run our operation despite the panic from uneducated fans!
Italiabhoy I don’t know what th3 payment plan is for dembele but we still get £20m.
Hot smoked I haven’t read the accounts yet but I will. But when Celtic make up a new term like “debt like items” you gotta smell a rat. The o e thing I am not clear about is what is happening with the Clydesdale debt. A poster said we had repaid it. You would think the club would headline that assuming its true. But that doesn’t fit with Paul and the board “be worried ” narrative. They think you are all stupid cannon fodder.
Paul’s increasing contempt for his readership becomes increasingly evident. He didn’t even have the courtesy to wait 5 mins after the accounts were released as he breathlessly posts the board nonsense.
He is simply a puppet.
Good evening CQN from a very, very stormy Garngad
Neganon2 you flying in that ffs be carefull fella.
D. :)
“ What happened to the Dembele money “
MayAsWellBeFirst csc
I see board placements are now posting to sell the message. Ram it down your throats. Jerry is a case in point. Funnily enough he only posts around this time.
Hilarious lawwell nonsense.
I haven’t read the accounts but here’s what I think of them anyway
Bbbbbbbwwwwwwhhhhhaaaaaaaa csc
Where’s Arnold when you need him?
David I am not looking forward to it. Lots of nervous looking on this plane. About to take off.
I look forward to reading many more character assisinations
Bring it on.
Whatever happened to the Stephen Fleming money? ?
Weetim67
For what do we need Bankier?
Askin for a pal.
HH jg
Neganon
I don’t always agree with you.
But I do appreciate you.
Safe flight
HH jg
Fraternal greetings to our mainly female Glasgow council workers. Unity is strength, and triumphs division.
Hopefully your overall show of unity will bare fruit..
Disgusting in 2018 we are still disputing equal pay.
No political point to make, both Labour and SNP equally guilty.
HH .
Neg : what about sexism and misogyny.?
So we don’t have 70 million in the bank then?
If I earn 70k pa, I don’t have 70k in the bank the moment I sign that contract. I get it, in installments, over 12 months. In addition, I will have lots of outgoings in that time. 70k will go through my bank account in a year, but there will never be a moment when I can call on all of it at once.
Likewise Celtic. Our cash in bank will go up and down depending on fees received and paid.
We do seem to have a sizeable bank balance, however. There is a question to be asked about whether it is wise for a business to park so much cash in the bank at a time of low interest rates, instead of investing it in capital projects…
Neg hope all goes well ???
D. :)
Those accounts – shocking! I also hear we are stealing water from a local church.
What’s become of us?
any news on huns flight to SPAIN.
any news on IBROX still standing.
Whatever happened to Weefrathetim ?
I loved his updates from the old homestead.
Weefra if lurking Hail Hail and get back on
Ps I remember reading you had health problems, I hope all is well now.
D. :)
No club in the history of Scottish Football have or will enjoy our financial dominance.