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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Neganon 2
Firstly , the blog needs you. You are passionate and are often right. I will often disagree with you, but I respect your views.
We may often disagree my friend, but you are one of the posters I would love to but a pint and have a great debate.
Take care my friend.
HH and COYBIG tomorrow.
Awe naw no the accounts oot,
O well at least they will leave Brendan alone for a wee while ???
So everyone agrees that our CEO is in charge of the finances, he does the deals with the sponsors, the players we sign, agreed everyone, great results this year, lots of jubbly bonuses.
So we really have to accept that he is at fault for having a bloated squad of players, it’s not easy moving players on who are overpaid, it’s called financial mismanagement.
An £84m wage bill is a joke for a club playing in Scotland, I do understand that it’s not all the players, it’s the majority of the wages bill though.
Or is that the fault of someone else, I’m sure it will be soon.
Deflect, deflect, deflect, it will be Neganon’s fault before our esteemed CEO’s.
Paul67
Shocking
Yours Disgusted
Of Tunbridge Wells
Hoi Peat £100million spondoolies suck dem apples up yer phone calls
Kojo csc
WEETIM67
If would have went in for JM at the end of last season like our manager
wanted and let the boy know we were desperate to sign him I believe
he would be at Celtic now.
As for me being controlled by the media, aye ok!!!
Tell me who pulls your strings?
Jerry, I’m pretty sure EBT rangers had a sizeable financial advantage.
I cannot think of a realistic scenario where I would stop supporting Celtic. Just how it is.
I’ve been through so many high, lows and inbetweens for over 60 years.
If the rebels didn’t care then we wouldn’t have replaced the crew on the bridge.
Even those who moan are Celtic supporters.
…
For those that live in the USA you can get access to all Champions League & Europa League games via your Roku or other streaming device.
Avalaible though Bleacher Report Live for $79.99 for the whole season (plus $6 tax)
No, I don’t understand either why Uefa sold the rights to Univision either.
I’m all set for todays games and for tomorrow’s game versus Rosenborg.
HH
Paul67/Peter Lawwell
Costs were so high because bonuses are linked to participation in CL.
Having read your doom and gloom summary, it took me by surprise to see that the club is actually
27 million in the black.
I thought we were in the red going by the nonsense you spouted.
The part about cutting costs is hilarious, Paul/Peter!
The club has just sold Dembele for 20 million and is 27 million in the black!
bollocks alert..
GREENPINATA on 19TH SEPTEMBER 2018 5:40 PM
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.
….
I take it you have a very limited knowledge of Glasgow City Council….
in fact I can only surmise that your interest in this matter is purely political .
smiley you will not get away with shoite on oor watch thing
Saor Alba
Braw
“debt like items” hasn’t been invented by Celtic.
Crafty article Paul 67.
i had a wee look at our 33 man squad.
in size to support first team football demands, i thnk that is a good number.
there are tops 20 that are competing for starts, however, at one time last season we had 6 lon terrm injuries.
we need 25 for a euro squad, and i think 8 need to be homegrown.
other than comperr, every other fringe player has been work in progress or a development player.
so 33 is the size of squad required, not all of them can be first team ready.
other than the mega rich, its the same for all.
so there.
ps, £1m + wages for Peter is the biggest anomoly.
AEK parking the bus again, had enough after only 3 mins, news time instead
Paul67
If Dermot Desmond sacks Peter Lawwell for his incompetence, how do you think you will react?
Would you still support Celtic?
Or if Lawwell got a job with another football team, would your loyalties move to the new club he was with
and if said club was playing Celtic would you support Lawwells team or Celtic?
Hail Hail
Big Stein Connelly will sort out the road chaos. ??
D. :)
Bournesouprecipe…………has the club still to collect 12 million balance on the Virgil VanD deal?
Where is Victor Wanyama I notice he was not in the Spurs team last night?
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
St S- hope you’re well
i am good ta, just passing a bit of time waiting on me dinner.
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.
Neg
Be nice to hear when you have landed safely.
JJ
Nye Bevans
Your’e better than that.
What part of Hibs complete refusal and rejection of Celtic’s player evaluation, and subsequent bids is
it that you are missing?
Reporting Scotland to review Der Hun game, do you think we will get a mention?
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.
HANKRAY
Its worser than that, Stuart Armstrong’s no getting a game for Southampton and we spent their money on
Odsonne.
What happened to the Virgil Van Dijk sell on money? – its frittered away anaw noo.
held