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Celtic income down 21% after drop from Champions League

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Celtic’s turnover slipped 21.1% last season to £51.08m (2014: £64.74m), almost wholly explained by the drop from Champions League to Europa League competition. Operating expenses dropped by a smaller amount to £53.27m; higher than income, but by a very manageable amount.

The club’s cash position at 30 June 2015 was a positive £4.72m, although this figure will stray into negative territory during the season. Net exceptional costs were down to £740k, considerably less than the £4.089m paid out a year earlier, when the management team moved on.

Profit on the sale of intangible assets (football players) was £6.773m, down considerably from the £17.052m from the previous season, and a bit of a surprise given the expected impact of Fraser Forster’s sale to Southampton. It’s possible that Newcastle United received a dividend from the Forster sale. Total loss for the year, after interest, disposals and acquisitions, was £3.947m.

“Investment in football personnel” was up slightly to £9.42m, the amortisation charge for the year was £7.313m.

It’s clear that Celtic can continue to operate at current levels but the impact of Champions League revenue on all aspects of the club remains stark.

On the club’s wider place in society, chief executive, Peter Lawwell, noted:

“Charity forms a fundamental aspect of the club that we aspire to create. Charity lies at the very heart of Celtic; it is part of our DNA.

“I am delighted to say that the Club and its supporters does more now than we ever have done for charitable purposes, most notably Celtic FC Foundation, which continues to grow from strength to strength and to inspire all those involved with it.

“The continued commitment of our supporters, shareholders and partners is crucial; I thank you for that commitment, which we will do all that we can to repay.”

Only four days to go for the hospitality auction to win an outstanding day for three people. Lunch and drinks at the Walfrid plus watching Celtic-Dundee from the directors’ box, courtesy of Intelligent Car Leasing. Check out the ebay auction here. All proceeds to towards the incredible work of the Celtic Foundation.

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  1. Hebcelt

     

    condolences to Charlie Macleod on his passing,provider of part of my breaKfast for a few years now. may he rest in peace

     

    HH –

  2. For me the most telling sentence in that excuse for failure is

     

     

    “The Board remains committed to ensuring that the medium and long-term future of the Club, and the Company, is secured.”

     

     

    Clearly the club and company are separate entities in the opinion of out board, so Celtic Plc is a holding company eh.

  3. ..

     

     

    With the All New CQN a New Article 2 or 3 Days after the Live-Updates thread is Now the New Norm..

     

     

    ..

     

     

    A New Article after 96 Posts..

     

     

    Yay Celtic have Signed a Striker..

     

     

    No.. It’s a Message from Our Sponsor..

     

     

    Wtf..

     

     

    Summa

  4. We will continue not to spend in order To acquire the Players we need to give us a fighting chance to qualify for the UCL. By that I mean we will continue to gamble to see if we do qualify. I predict that our financial down spiral will continue for the foreseeable future.

     

    Keep the Faith!

     

    Hail Hail!

  5. Careful With That Tax, Moonbeams on

    Holy dog shit, Houston!

     

     

    Only Steers and Huns come from Texas, ! And you don’t post like a Steer to me .. So that kinda Narrows it down!!

     

     

    :)

  6. The search is on !?!

     

     

    First for PL’s credibility.

     

    Secondly for the £9mill+ that we have spent bolstering the squad.

     

     

    Absolute shambles would only be the half of it.

     

    Some people find it very easy to spend other people’s money.

  7. I fear PL is playing fast and loose with the wages of last years loan signings.

     

    How else can you generate a figure of £9.4 mill spent on the squad?

  8. Jungle Jim Hot Smoked on

    My team for tomorrow:

     

    Gordon

     

    Lustig,Boyata, Simunovic, Izaguirre

     

    Forrest Brown Bitton Rogic Armstrong

     

    Griffiths

     

    I accept , though, that Ronny possibly knows more about football than I do so might play Joe Hansen instead of Rogic and Ciftci instead of Griff. Also, Mr Boyata does not inspire confidence in me so I would not be too disappointed if Charlie were toplay alongside Joso.

     

    JJ

     

     

    JJ

  9. prestonpans bhoys on

    These figures would suggest that our economic model is no different from the deed ones i.e. No CL then overall loss for the year, disappointing especially when expenditure exceeds income

  10. As long as this Tim has two (oul’) hauns

     

    I vow to enthusiastically support Christina and her outstandin’ efforts in the name of

     

    football(s).

     

     

    HH.

  11. Careful With That Tax, Moonbeams on

    He’s probably taking wages into consideration .. Knowing him.

     

     

    Did he not refrain from taking his bonus a few years back (for a few months!) When we found ourselves in a similar predicament ?

     

     

    Taking the proverbial!

  12. CAREFUL WITH THAT TAX, MOONBEAMS on 11TH SEPTEMBER 2015 5:05 PM

     

    HH Moonbeams! Loads of Tims in Texas!

     

    Come visit, we will make you very welcome!

     

    TC45

  13. Running Scotland’s Premier club comes at a price, hopefully a wee run in Europa this year will keep the fire stoked . I had to suffer “them’s 9iar” one memory I have is from that time the bigotdome was packed most home games. We seem to be self destructing as a support at a time Celtic needs us. More downsizing awaits if we continue to desert the finest stadium in the country.

  14. JJ @ 5.11

     

     

    Bundle of laughs.

     

    Just don’t suffer fools gladly.

     

     

    Currently doing my bit for the Scottish manufacturing industry.

     

    What about yourself?

  15. Careful With That Tax, Moonbeams on

    THECELT45 .. I know you’re a Tim mate :)

     

     

    Just the ole CQN initiation for a new poster ..

     

     

    Just a wind up! :)

     

     

    Hail Hail

  16. MadMitch on 11th September 2015 5:15 pm

     

     

    I think there’s a bit of that. They do make a point of stating some registrations were retained. So I imagime the £9.4m figure includes transfers, loan fees and new contract bonuses. Which is all quite neatly encompassed in “Investment in football personnel”.

     

     

    While I think it would be clearer to state in the summary straight transfer spend and receipts. I don’t really have a problem with what they’ve stated. It’s certainly don’t think it’s misleading.

  17. Any thoughts on our squad spend last season?

     

     

    CG signing on fee?

     

    JD’s loan fee?

     

     

    Just how could we claim a £9.4mill spend when all we bought was a £2mill half finished CF and £2mill approximately job lot of DU starlets?

     

     

    Something doesn’t add up in all of this?

     

    Games being played to big up our squad spend.

     

    Something that would be very SDM in his pomp.

     

    Surely not the club trying to act big.

  18. Jungle Jim Hot Smoked on

    Madmitch

     

    You are a step more tolerant than I by the fact that you don`t suffer fools gladly. I don`t suffer them at all 0:-) .

     

    Retired now. Was a teacher. Really enjoyed it but enjoy retirement even more. Except when I play golf as badly as I did today.

     

    Off for a pint. Would be good to share one with you one day.

     

    Cheerio for now,

     

    JJ

  19. WM @ 5.21

     

     

    Spend £9.4mill and get papped out of the CL qualifiers by a bunch of Volvo driving lumberjacks?

     

    Spend £9.4mill and go into the game with two part time and inexperienced FB’s?

     

     

    Surely not.

     

     

    Money is getting wasted left right and centre.

     

    Starting from the top and PL’s bonus.

  20. If we are to do 10iar the club will need full backing from here on in, 10 won’t be handed on a plate. A full stadium would go a long way to achieving it. Personally I’m looking forward to the chase from the sheep this year as I suspect it will be closer than last year. We will pull away from them after this season though as the team will grow together. Loving Celtic and the gap we are creating with our rivals. Considering the restraints on us , how many similar sized teams could continue to operate as we do with our budget.

  21. Hopefully there will be no shutting of the top tier and accepting a crap crowd this year. Keep it open and market like crazy

     

     

    initial signs are that it will be open as I had my normal top tier jungle seat allocated

  22. P67

     

     

    You are having a laugh.

     

     

    The club cannot continue to work at this level.

     

    At some point we are going to run out of £10mill+ players we can flog to the EPL.

     

     

    Quick question — how many league camels did our coterie of loan players start last season?

     

    How many apart fro JD did the loan players start last season?

  23. MadMitch on 11th September 2015 5:28 pm

     

     

    I’d say because there was no transfer fee. It’s reasonable well established that teams saving a transfer fee by signing a bosman put at least part of that saving into the signing on fee.

     

     

    He’s a high enough calibre player that I think it’s totally believable that it would be £1M+.

     

     

    Supposition on my part of course.

  24. CAREFUL WITH THAT TAX, MOONBEAMS

     

    HH mate! No probs at all, been around this place for many years now. but appreciate the initiation!! Bit like renewing yer wedding vows!! :)))

     

    Generally hang out with the night shift. / moon howlers!

     

    Good to chat,

     

    TC45

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