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. 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.

  2. 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

  3. From kikinthenakas via Facebook.

     

    Once we had Empires ruled by Emperors and Kingdoms ruled by Kings now we have Countries ruled by

  4. 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.

  5. The Dembele money will barely offset the loss in European income due to drop from Champions League to Europa League especially with our increasing wage bill

  6. NEGANON2, love reading your stuff mate, safe flight, Btw , have a look on sentinial celts, you have a fair few fans on their bud

  7. PAUL67

     

     

    On turnover of c£100m,we made a profit of c£17m. That is NOT made up,as you suggest,largely of profit from player trading of c£16m.

     

     

    Player trading was largely cash neutral,with income and expenditure of c£16m each.

  8. 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.”

  9. Dumbhoy

     

    Maybe, however I am guessing as the club have not announced if he has left, just that he isn’t in the EL squad, whoever scouted him and whoever did the medical should follow him out the door, this is every bit as bad as Boerigter another very costly mistake.

  10. 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

  11. 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

  12. Superb second goal for Ajax. Just as well we are not in CL. On this showing, they would have slaughtered us.

     

    IniquitousIV

  13. Neustadt-Braw on 19th September 2018 7:02 pm

     

     

    The weather always seems so much worse when yer being pursued by an Ayrshire coven led by a short shirted wide eyed (but strangely attractive) witch.

     

     

    It does when I’m the one being chased anyway (That is ‘chased’ and not ‘chaste’)🧛‍♀️😀🧛‍♀️😀

     

     

    Hail Hail

     

     

    Matt

  14. 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

  15. If wee have a bloated squad of players,who are unlikely to be playing in the first team,then surely it’s better to give them the pay off, they are entitled to,it makes sense to me,and who takes the blame for having a huge squad, Watching Ajax v A E K,the commentator asking what will Celtic make of the Greeks performance 🤔🤔🤔

  16. celtic1member1vote on

    Context .. £100 Million Turnover ..

     

    Brendan arrives when turnover was approx £50 Million ..

     

    Year 1 Brendan grows turnover to approx £90 Million ..

     

    Year 2 Brendan grows turnover to approx £100 Million ..

     

    Year 3 Peter reduces turnover to approx £ 75 Million ..

     

    The Manager then leaves ..

     

    Year 3 could have been turnover of approx £ 105 Million ..

     

    Year 4 could have been turnover of approx £ 110 Million ..

     

    Year 5 could have been turnover of approx £130 Million ..

     

    Year 5 would have had significant extra turnover due to 10 In A Row ..

     

    We’re highly unlikely to see a £100 Million turnover or Champions League Qualification again for the next 10 years ..

     

    I hope I’m incredibly wrong, but as a club we’ve lost our momentum, and it will

     

    incredibly difficult now to get it back to previous levels, particularly where

     

    Champions League Qualification is concerned ..

     

    That Peter and Brendan fell out, will go down as a disaster for our club ..

     

    The club really did have a 5 year golden opportunity, which meant buying the right players at the right time, to give the manager the best chance possible to continue with year on year progress ..

     

    Unfortunately the shambles of this summer, has now destroyed that opportunity, hence why we’re now playing Europa League football, and will have a drop in turnover of at least £25 Million ..

     

    It’s really is incredible, that yet again, another golden opportunity for year on year continued progress, has been lost again !!

  17. Matt is that where the saying “pooing wan aff” came to life ..

     

     

    smiley poor wee Meg thing

     

     

    Braw

  18. 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

  19. CELTIC1MEMBER1VOTE

     

    Spot on.

     

    Posters are not looking at the bigger picture, no doubt you will have the clique on your back for telling them inconvenient truths.

  20. What does this mean accountants?

     

     

    ‘Onerous employment contact costs result from a situation where the committed costs under that contract are assessed as exceeding the economic benefits expected to be received by the Group over the term of the contract.’ ??

     

     

    HH

  21. GreeninbingleyinOslo on

    Lock up your dottirs, looks like the Vikings are landing…

     

     

    Glasgow Airport Arrivals

     

    17:30 V32849 Trondheim On Approach

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