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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BMCUWP,
Don’t you know…..there’s a fourth wise monkey…..”do no evil”
In action…..which is why most (99.99%) of us can’t live up to such high standards…..a fact I just made up…..;-P)
H.H.
We’ll that was a load of rambling shite that almost made a pint ain’t that right philvis :0D)))
NEGANON2 on 12TH SEPTEMBER 2015 10:10 AM
Tony sure. Please read Paul’s article and you will see it there. The bit about exceptional expenses.
– See more at: http://www.celticquicknews.co.uk/celtic-income-down-21-after-drop-from-champions-league/comment-page-14/#comment-2675461
And your reading that as that’s what Celtic paid the management team of Neil Lennon? £4. Million pounds to move on, seriously?
SHADY – ‘MON THE WEE OSCAR on 12TH SEPTEMBER 2015 10:14 AM
Sydneytim,
I`ll be with you guys in spirit.
Cracker of a Sydney day today.:-)
The reality of the big CQN neverending debate is neither side are right or wrong. Do you invest an extra unspecified amount of money in team to improve CL qualification prospects or do you try and mould a team to dominate Scotland and take your chances in the CL.
Spending money may improve your chances but will not guarantee anything. If we spent last year and still lost to Malmo we could be nursing a worrying 10 million or so loss. If it worked and the extra quality resulted in us beating Malmo it could be a 10 million profit.
It’s a gamble our current custodians don’t do gambles are they right or wrong. As always just a matter of opinion.
Neil Lennon
WGS
Bobo Balde
….all subjected to ‘confidentiallity-clauses’ under PL’s watch.
Nakamura – “Peter hasn’t told me when I’ll be leaving yet!”
Kenny Miller – “Peter said that, if I don’t leave…I’ll find myself 6th in the pecking order for a strikers place in the team!” – just after he’d started to hit the net!
….etc….etc….blah…blah….
If yer daft enough – CSC
GM
CT is by far and away the best ref in scotland, his game control is second to none.
He can break up the flow of the game at a whim, we always get frees in positions that are no threat, the opo do, watch out for it.
He breaks up the game when we have momentum etc.
But sometimes we are just too good, sad that it has to be that way mind you, I would have thought that a level playing field would be the answer in theis day and age.
Need to go, Mrs TET is ready :-)
HH
Canamalar @1020
You’ll need to narrow it down neebs. Theres been a lot:))
HH
67Heaven
__________
Who owns the creditors? :)
Hail Hail ya happy-clapping eejit:)
67 heaven I don’t think, sadly, I can be describes as young anymore.
I see you aren’t going to answer the question. Ah well.
Now the Tony, I don’t know how much the management team were paid off but that isn’t what is important. It’s that they were paid off, which means they didn’t just leave. And if they didn’t just leave but where pushed then firstly why and secondly why weren’t we told?
Guys posting pre -game about substitution times bugs me.
You can’t tell how the games gonna go and you can’t legislate for injuries and cards.
Buttttttt, if things go well today I’d like to see Blackett get a decent amount of 2nd half game time. He could be important come Thursday.
HH
Shady. Just arriving by train at circular quay in 2 mins Will be in cheers for KO. I have white sydney City csc polo shirt on. Grey hair
Macjay. You should join for a spirit :)
The_Huddle,
I’m in my 50’s and never heard or read it before reading it on this blog about 8 years ago.
So if you know better, tell me where and when did you come across it ?
For me , and I’m no expert , the accounts are rather troubling.
We appear now to be totally dependent on CL fitba , even selling 1 asset ( Big Fraser ain’t enough)
Sunday games don’t attract the casual spectator.
I’m really beginning to think we as a country need to do something radical.
Summer fitba is now a must IMO
God bless all here.
God bless Celtic
Aberdeen 0 Celtic 3.( The Griff 2, Ciftci)
“It’s that they were paid off, which means they didn’t just leave.”
neg,
unless it was in their contract they’d be fully paid up on exit barring exceptional circumstances
For the first matchday in a while I am not nervous , so now I am worried about not being nervous, I bring it on myself .
Any bhoys know how to go about getting tickets for 3 fenerbache fans (two friends of mine) in the away end
C.O.Y.B.I.G.
HH
NegAnon2
__________
Hail Hail fella.
The reason why Celtic supporters weren’t told?
I’d guess that, it’s because….Celtic supporters ‘dont’ matter.
The only time that they do matter is…when their needed to buy SB’s…imho.
HH
Neganon2 said:
” It has now been revealed that last years management team, NL et al, were paid off to the tune of circa 4m. That clearly signals that they didn’t leave of their own volition despite how it was portrayed to us. What are your views on that? ”
How was it portrayed to us?
If it was portrayed as anything it was not, then I would wonder why. After I knew why, I would have an opinion. That opinion would not be governed by my general positivity.
JJ
Canamalar,
I first read it on the ol beeb message boards 10+ years ago.
HH
Negatron why do you make up more bs than follow follow. Neil Lennon left and was paid what was due in his contract. It us you who has lurched to the nagatron view that the management team were a. Pushed b . Nobody told you. What planet are you on. Please, enjoy something about the team you love. Anything. Start small.
Kevj,
Confidentially clauses…..standard practice…..(why were they talking ’bout it)…..fight club…..;-))
The last 2 quotes…..context wae Naka’s?…..as for KM…..that’s uncomfortable…..if true….;-))
H.H.
YNWA
Ok jungle Jim then now you know they were paid off and that cannot be squared with them just leaving, what’s your opinion?
Geordie sorry but it doesn’t make sense. If you resign from a job and aren’t pushed out you don’t get your wages when you leave. Pretty simple. Unless Celtic are soooooooo generous that they dispense with all HR type arrangements and just give out loadsamomey to people who have decided to resign?
Nah me neither.
Neganon2
It has now been revealed that last years management team, NL et al, were paid off to the tune of circa 4m. That clearly signals that they didn’t leave of their own volition despite how it was portrayed to us. What are your views on that? – See more at: http://www.celticquicknews.co.uk/celtic-income-down-21-after-drop-from-champions-league/comment-page-14/#comment-2675472
This is what YOU POSTED, THAT IS WHAT I ANSWERED ON, ….now that doesn’t matter,?why do I have the feeling I’m wasting my time here with you, meaning no disrespect, but you have a knack of spin that amuses me.
ITALIABHOY on 12TH SEPTEMBER 2015 8:30 AM
So King’s claim for £20million has this morning been rejected by BDO, according to the Herald?
Yet another angle on this hall of mirrors freakshow…
>>>>>>>>>>>>>>>>>>>>
If that’s the case, then it’s back to the drawing board for sevco, since the recovery of his £20m is what brought ming back in the first place ….!!!!
C’MON the Celtic
C’MON the Jeremy Corbyn…the wind that shook the barley.
Neganon @1035
Well that comment just proved you are not ally mccoist. :)
Paul67
It’s quite clear that we’re set up to, on average, break even. We probably budget for small losses 2 out of 3 years and a decent profit the other year (when we qualify for the CL).
This is probably as good as we can really expect, although it is my hope that we could start to make the CL proper more often if we can keep our seeding and coefficient up.
But surely it would give a better platform to build on if we budgetted for Europa League levels of income? That may sound like it’s a lack of ambition but when you look at the expenses it’s mostly down to wages.
We pay wages well above what other countries do. I know people will say our proximity to England doesn’t help and of course it doesn’t. I don’t know the figures now but people for the past 5-10 years have said that we don’t compete even with the Championship (some have now moved on to League 1). Maybe in the past year or two this has changed but before it was complete nonsense. There might be the odd outlier, the big team, or even just the team who has been relegated who are still paying EPL wages and still receiving kick downs, but when we signed players like Ledley and Matthews they increased their wages dramatically. We were paying more than the likes of Cardiff. Anyway I digress…
Part of the problem with the wage bill is our neighbours across the border, but a bigger part is agents comparing offers to prospective colleagues. We’re signing players who are generally on a few thousand a week, by the looks of it they are coming in and ending up on £10k-£10k a week. Why are we suddenly tripling wages? The problem, in my opinion lies with the high earners. Yes we need to pay more to hold on to our top players after they’ve been here a few years but I feel the wage structure still isn’t right.
If we could get the wages down, I really don’t think the performances would suffer if done right, it may be a long term strategic approach but we’ve had the time.
Make it so we break even, or even make a little money in Europa seasons and we can invest in players without having to sell first, that lets us plan 6-12 months in advance and gives us a better shot of making it to the CL proper.
67heaven..,
It seems recently when I make an argument that unsettles you, you ask about res12 :)
Well res 12 is just hunky dory seems the bhoy in shorts are showing the men in long trousers the way forward.
Now if your really interested, do what I advised last week and get in touch with Auldheid he has a narrative all written up for those who backed the resolution to tell them exactly where we are, what we’ve done and where we are going.
Canamalar on 12th September 2015 10:29 am
I’m in my 50’s and never heard or read it before reading it on this blog about 8 years ago.
So if you know better, tell me where and when did you come across it ?
———————–
I would’ve first heard late 90s I’d say, though I’m much younger than you ;o)
It certainly started to be used much more once the internet fan boards started appearing, well before CQN came about. Used to be posted lots on the old COTH board, almost any response that someone didn’t agree with would replied with Green Hun.
I was told it meant – you know how you can tell a hun by their attitude, aggressive, only hun things matter, not welcoming to any others, superiority complex and a win at all costs. Well a Green Hun is that but wearing a Celtic scarf.
Taurangbhoy see my other response. Why would he be contractually entitled to it if he simply resigned?
I think that this is big news. They were paid off so either they were sacked or paid off not to talk. So either way why?
SYDNEYTIM on 12TH SEPTEMBER 2015 10:28 AM
Shady. Just arriving by train at circular quay in 2 mins Will be in cheers for KO. I have white sydney City csc polo shirt on. Grey hair
Macjay. You should join for a spirit :)
==============================================
The spirit is willing but the flesh is weak.
Give the bhoys a roar for me.
Dena29,
long time no c…..u bring it on yerself…..;-))
As for Fenerbache tickets…..away end…..try BMCUWP?
How r u?…..U coming over for the (insert) game?
H.H.
Very pleased to amuse you Tony.
I thought I had overslept and missed the defeat today at Pittodrie. I struggle to think how the Uber Deppressives coped during the 1990s. Travelling from Aberdeen to Hampden for our home games was a sobering experience and that was with Fergus in charge, the preceding years still haunt methat’s why I love every minute now. During the 1990s there was no such thing as a one horse race, funny that, eh? My young son at the time used to look at me when we played the Huns, saying will we ever beat them, I had by doubts as well, but I refused to jump into the dark pool of despair, I always had hope in my heart, that our day in the sun would come, and boy it did, and I still love having a tan. Yes it is days when the weather is foul I recall the miserable trips down to Glasgow, and returning on the train with Huns singing their evil songs. Enjoy Celtic but more importantly enjoy life, no doubt there are posters on here fighting battles everyday in their daily lives, either at, work , personal relationships or health. Celtic is an antidote to some of these problems.
NegAnon2 on 12th September 2015 10:41 am
Taurangbhoy see my other response. Why would he be contractually entitled to it if he simply resigned?
I think that this is big news. They were paid off so either they were sacked or paid off not to talk. So either way why?
—————
Or the 3rd option both parties agreed it was time to move on?
67Heaven .. CHALLENGING THE LIE ..I am wee Oscar…… Ipox belongs to the creditors – See more at: http://www.celticquicknews.co.uk/celtic-income-down-21-after-drop-from-champions-league/comment-page-15/#comments
Shhhhhhhhhhhhhh, don’t mention the thing with the number 12 after it, I’m told they’re on it and making great strides in what was predictabley slow process, I’ll leave it at that.
TheLurkinTim
______________
I read it in the Evening Times – a quote from Naka – round about the time before he left.
Confidentiallity Clauses may well be standard practice and, have their good uses.
But….the bit about them that really stuck in my craw was when, Alex McLeish as Birmingham City manager said on Radio Clyde news that – “I tried to sign Bobo Balde from Celtic but, Celtic wont let him leave until he signs a C-C which, he is refusing to do.”
Make of that what you will?
The ‘ugliness’ of Neil’s ‘sudden’ departure was the bit were it dragged on for 6 hours before Celtic / PL / NL cooked-up a statement which went along the lines of – Neil “I’d like to thank Celtic for giving me the opportunity to manage the club….I’ll be helping the club to, recruit my successor…etc.”
Made up guff…imho.
HH
Well that’s the 17th and last time I’ve had to log in today, that’s enough, if the administrators can’t control the technology they shouldn’t be using it.