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Celtic hit £101m turnover

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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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  1. Debt and debt-like items: The amount of financial leverage as considered in the buyer’s model may not only reduce purchase price, but also impact the selling price in the buyer’s exit. There may be liabilities a buyer may wish to consider as debt-like, and therefore, either exclude from the deal or seek as a reduction in the purchase price. If debt is to be excluded from the transaction, the buyer should ensure the definition of debt in the SPA is sufficient to require a reduction in purchase price. Key items that could be considered debt-like in nature include operating or capital leases, unusual provisions in employment agreements or purchase and supply agreements, financial guarantees and other financial instruments, environmental contingencies, litigation and acquisition earn outs.

     

     

    Hail Hail

     

     

    Matt

  2. 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.

  3. MATT STEWART on 19TH SEPTEMBER 2018 6:22 PM

     

     

    thanks MATT you cleared that up for me.now do you prefer toasted chee………………………………………or……………………………………………..

     

     

    on toast.

  4. 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!

  5. Dembele’s figure not included until next year:

     

     

    “Player acquisitions of £16.6m – including the club’s record purchase of Odsonne Edouard – were offset by sales of £16.5m.

     

     

    That figure was made up of the departures of Stuart Armstrong and Erik Sviatchenko and the receipt of a 10% sell-on fee after Virgil van Dijk’s £75m move from Southampton to Liverpool in January.

     

     

    Moussa Dembele’s £19.2m move to Lyon – a record sale for a Scottish club – took place after the accounting period.”

  6. 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 “

  7. 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!

  8. 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.

  9. Favourite uncle….def toasted cheese unless it is toast with un-toasted cheese on it in which case it is cheese on toast.

     

     

    I wish the tonight’s second games would start. That’s when I open the Merlot, cheese and onion crisps and Tunnocks’ caramel wafers.

     

     

    Hail ail

     

     

    Matt

  10. DENIABHOY on 19TH SEPTEMBER 2018 6:25 PM

     

    Our annual turnover = a full Ronaldo or half a Neymar.

     

     

    ——-

     

    Or Henrik’s little finger.

     

     

    HH jg

  11. Good evening CQN from a very, very stormy Garngad

     

     

    Neganon2 you flying in that ffs be carefull fella.

     

     

    D. :)

  12. 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.

  13. 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.

  14. Neganon

     

     

    I don’t always agree with you.

     

    But I do appreciate you.

     

     

    Safe flight

     

     

    HH jg

  15. 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.?

  16. ‘Rainjurz are in the Castelon region of Villareal where no Scottish club has ever rioted before’

     

     

    BBC News

     

  17. Just to clarify…

     

     

    The legal definition

     

     

    Debt-like Items on Closing shall mean non trade third party obligations including (a) all third-party trade payables more than 180 days old; (b) Any non-trade payable with respect to inter-branch, related party or Promoters; (c) Provision for employee benefits such as those for gratuity and leave encashment as shall be determined by an independent third party actuarial expert; and (d) capital creditors on Closing for expenditure incurred minus capital advances paid which are also outstanding on Closing. For the avoidance of doubt, it is hereby clarified that, Debt – like Items shall not include any item that is included in computation of Net Working Capital.

     

     

    Sorted.

     

     

    Hail Hail

     

     

    Matt

  18. 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…

  19. Those accounts – shocking! I also hear we are stealing water from a local church.

     

     

    What’s become of us?

  20. 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. :)

  21. AEK, minus two suspended players, stoutly defending in Amsterdam, holding at 0-0 ay halftime. Swedish left back Hult and central partnership playing very well. Ajax goalie not troubled so far, despite 3 half chances for the Greeks. Young Argentine (E. Ponce) up front looks like he will be one for the future.

     

    IniquitousIV

  22. 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.

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