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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@ BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 20TH SEPTEMBER 2018 11:10 AM
Thanks for the link. Provided an interesting read.
One thing I look forward to reading in the full accounts is old PL’s remuneration package.
From a quick review of the accounts to June 2017, it appears as if PL was paid £1,167,411 (salary and benefits in kind) and (i believe) an additional payment of £890,000 awarded under a “Long Term Performance Incentive Plan” which vested over the period. That takes earnings for PL to £2,057,411. A staggering amount when our turnover was £90.6m.
It got me thinking how this compares to other football executives plying their trade in the cash rich EPL. From a brief review of Everton and Arsenal’s accounts (for same year), it appears that:
-the top paid director at Everton earned £578,000 (I’m unsure if this is inclusive of bonus, but even if only basic wage, it is under half of PL’s basic wage), with Everton’s revenue being £171,330,000; and
– Gazidis (now of AC Milan) earned £2,598,000 (inclusive of bonus), with Arsenal’s revenue being £344,500,000.
Now, as percentages of CEO earning to revenue this equates to:
Celtic – 2.27%;
Everton – 0.33%; and
Arsenal – 0.75%.
We cannot pay EPL wages for players but seemingly we can for executives.
Something to read with your elevenses,if those still exist!
https://sentinelcelts.com/2018/09/20/here-we-go-again/
They are installing these next to the turnstiles
https://www.google.co.uk/imgres?imgurl=http://sites.psu.edu/siowfa15/wp-content/uploads/sites/29639/2015/12/gullibility_test.jpg&imgrefurl=https://sites.psu.edu/siowfa15/2015/12/02/can-we-measure-gullibility/&h=710&w=640&tbnid=1G-n0HueZ25uTM:&q=gullible+meaning&tbnh=186&tbnw=167&usg=AFrqEze-DX5nAL3fnDaBzJd7XEADozERDg&vet=12ahUKEwjxn5PjuMndAhWED8AKHeDMBgsQ_B0wHXoECAYQCQ..i&docid=cpIg2yhbqZvSiM&itg=1&sa=X&ved=2ahUKEwjxn5PjuMndAhWED8AKHeDMBgsQ_B0wHXoECAYQCQ
PHILBHOY
Astonishing. Proceeds of Ceime order of £500k,and a custodial sentence is only being “considered”?
Law is an ass.
Ceime? Crime,sorry.
Live debate on Sky Parliament 504,re Glasgow School of Art
The hands – maybe PL has to work harder – if you take away the Sky money (which they don’t work for) from those teams – as a matter of interest what’s the percentage then
TIMALOY29 on 20TH SEPTEMBER 2018 10:47 AM
Exactly, why waste their time, but they can’t wait to attack him, it’s a hun thing.
Any rational, intelligent person would just ignore.
BTW – I think he is paid too much
I can’t remember who it was on here, ages ago, that likened Theresa May’s carriage and gait to Blakey from On the Buses…
… But cap doffed, absolutely bang on ?
?⚽️
Oops just finished…
Anybody got any idea what the crowd is likely to be tonight?
?⚽️
The return of the unseen fenian bean counter.
new article posted.
Bournesouprecipe 12.06
Lol. And no I didn’t.
the blue dot count suggest that if everyone who bought a ticket turns up the attendance will be
51,862.
@ GENE on 20TH SEPTEMBER 2018 12:14 PM
Well when looking at Celtic’s accounts to 30 June 2016 (RD’s last year), PL earned £999,560 (inclusive of bonus) with Celtic having a turnover of £52m. As a percentage that works out to 1.92%. This in a season where Celtic didn’t qualify for the CL, had half empty stands and lost to Sevco at the first time of asking.
So still outstripping his equivalents in EPL even when, on the face of it, we are not performing well.
BMCUWP
They used the money for deposits to purchase “buy to let” properties.
These are in the process of being confiscated by the Crown!
Agree though the law is an arse, sorry …ass!
THE HANDS CANT HIT WHAT THE EYES CANT SEE on 20TH SEPTEMBER 2018 12:08 PM
Using Neg2 and others thought process:
To achieve record turnover and financially leave all other Scottish clubs in our wake in a ” racist ” hostile environment needs a miracle worker of a CEO.
Miracle workers require miraculous renumeration.
HH.
Hunderbirds according to Kev the crowd tonight will be full of fools and gullibilies
??????
D. :)
HUNDERBIRDS ARE GONE
I was looking for a ticket the other day and it looked like they were available only for the lower stand, so maybe not to big a crowd.
Still, ye never know!
HUNDERBIRDS ARE GONE on 20TH SEPTEMBER 2018 11:19 AM
Anybody got any idea what the crowd is likely to be tonight?
?⚽️
A mixture of men and women, young and old, kids full of excitement ,…..
#tedstryker.
BMCUW @ 11 10
” elevenses ”
Read that while having my mid day merendina .
Been a long while since I had to pay any attention to stuff like ” unexplained debt-like items ” but back in the day they were things like contingency planning / contracts re purchase / supply / leases / potential changes in employment agreements etc etc ..
Way down south our -” debt -like items ” include Mrs S of T’s very likely future purchase of footwear and my guaranteed necessity to buy choons.
All together now…..
Ah’m no’ a Gullibilly Ah’m a GulliTim
Ah’m no’ a Gullibilly Ah’m a GulliTim
Ah’m no’ a Gullibilly
Ah’m no’ sae GulliSilly
Ah’m no’ a Gullibilly Ah’m a GulliTim ??
???
Seriously however, I’ve not felt this bad since the last time a big bloke broke intae ma flat, commandeered ma computer, stole all ma 14% wine and battered me over the head with a baseball bat.
I feel an attack of iron deficiency coming on which can only be cured by two iron tablets washed down with copious amounts of Guinness.
Hail Hail
Matt
Turkeybhoy
Apols for my misreading.
HH jg
Time for a GulliGiggle
https://twitter.com/Dury81976810/status/1042346368667406336?s=08
Hail Hail
GulliMatt
Thanks for all of the crowd replies.
BADA – I had just pressed “POST COMMENT” and only then thought that I was setting up an answer like yours.
Schoolbhoyerror CSC
?⚽️
MATT
Any chance you can clarify to a couple of young dafties that its…pie,beans n chips and no…pie, chips n beans..
Hunderbirds-a schoolboy reply to you ?
Drew
Pie supper wae beans is ma own preferred construction if out the chippy but in the house definitely pie, beans ‘n’ chips.
Also I’ve noticed a disturbing trend amongst today’s youth of putting salt on before vinegar.
ALWAYS ALWAYS ALWAYS Vinegar then salt…otherwise you wash the salt aff.
Hail Hail
Matt
SAINT STIVS on 20TH SEPTEMBER 2018 11:22 AM
the blue dot count suggest that if everyone who bought a ticket turns up the attendance will be
51,862.
——————-
I just had a look at the seating online. If the greyed out areas are accurate, then it looks like a very good crowd for tonight. The only area that looked sparsely populated was the section next to the away support (118). Let’s get this league section off to a great start. I actually think we’ll do really well tonight and it just being a points outcome (rather than two legged affair) will help settle us (hopefully).
Drew1967 – surely something is missing
https://www.youtube.com/watch?v=anwy2MPT5RE
Gullible is the mostly commonly used word that doesn’t appear in the Dictionary
Mon the Hoops csc
WEETIM67
Not been on and just read back. In reply to your post, you spectacularly missed my point in my lighthearted post from yesterday. When I referred to ‘ fag packet accountants’ I was in fact talking about the many amateur accountants (aka Arnolds) in our own support. How you got to the conclusion I was talking about the real accountants who drafted the actual accounts is beyond me but I feel a chill pill is in order, that or a sense of humour injection.
@ BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 20TH SEPTEMBER 2018 11:10 AM
Thanks for the link. Provided an interesting read.
One thing I look forward to reading in the full accounts is old PL’s remuneration package.
From a quick review of the accounts to June 2017, it appears as if PL was paid £1,167,411 (salary and benefits in kind) and (i believe) an additional payment of £890,000 awarded under a “Long Term Performance Incentive Plan” which vested over the period. That takes earnings for PL to £2,057,411. A staggering amount when our turnover was £90.6m.
It got me thinking how this compares to other football executives plying their trade in the cash rich EPL. From a brief review of Everton and Arsenal’s accounts (for same year), it appears that:
-the top paid director at Everton earned £578,000 (I’m unsure if this is inclusive of bonus, but even if only basic wage, it is under half of PL’s basic wage), with Everton’s revenue being £171,330,000; and
– Gazidis (now of AC Milan) earned £2,598,000 (inclusive of bonus), with Arsenal’s revenue being £344,500,000.
Now, as percentages of CEO earning to revenue this equates to:
Celtic – 2.27%;
Everton – 0.33%; and
Arsenal – 0.75%.
We cannot pay EPL wages for players but seemingly we can for executives.
They are installing these next to the turnstiles
https://www.google.co.uk/imgres?imgurl=http://sites.psu.edu/siowfa15/wp-content/uploads/sites/29639/2015/12/gullibility_test.jpg&imgrefurl=https://sites.psu.edu/siowfa15/2015/12/02/can-we-measure-gullibility/&h=710&w=640&tbnid=1G-n0HueZ25uTM:&q=gullible+meaning&tbnh=186&tbnw=167&usg=AFrqEze-DX5nAL3fnDaBzJd7XEADozERDg&vet=12ahUKEwjxn5PjuMndAhWED8AKHeDMBgsQ_B0wHXoECAYQCQ..i&docid=cpIg2yhbqZvSiM&itg=1&sa=X&ved=2ahUKEwjxn5PjuMndAhWED8AKHeDMBgsQ_B0wHXoECAYQCQ
The hands – maybe PL has to work harder – if you take away the Sky money (which they don’t work for) from those teams – as a matter of interest what’s the percentage then
BTW – I think he is paid too much