Celtic income down 21% after drop from Champions League


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. Yeah…its because of our failure in the CL that income is 21% down…ok.


    So…who is responsible for that failure?


    Who can it be eh….I wonder.


    Ok..i get it now….its everybody else’s fault….but not the people who run the club.



    Is this how its getting…..blame anybody but those responsible.

  2. Joe Filippis Haircut on

    THE GREEN MAN. When you employ a young manager who is learning as he goes along consistency will be hard to find. Ronny is doing fine in Scottish football but Europe is providing a bigger challenge in my opinion we must stick with him for at least 12 months if he fails to get us in to the CL group stage next season we then must give serious consideration to his position. H.H.

  3. Back to basic economics then.


    The cold reality of operating without CL football.


    The downward spiral is fueled by having less money to invest.


    Needing to sell best players to lower EPL teams to break at or near even.


    Which results in not qualifying for next CL.


    If only we had a decent environment to play in.


    If only our football hierarchy were focussed on securing decent TV deals instead of tying themselves in knots to placate the Hun hordes.


    If only we had the moral fortitude to stop falling in lockstep with the SFA.

  4. Honestly…when I think about the huns being back to cheat us next season, you have to ask why we aren’t light years ahead….our advantage has been squandered by halfwits who care more about their pockets than the Celtic team on the park.


    I’m totally ready to chuck it all…..I don’t think I can stomach any more of PL and his pals at ibrox….sickening me the way Celtic is run.


    End of the season., I will retire from scoddish fitba.


    Unlike some on here…I never will watch that hun scum at Celtic Park.


    They should be banned.


    But they wont…because DD admires the scum.


    Keep it….I don’t need your pathetic old firm filth.





  5. Whether you buy players at the beginning of a transfer window or at the end, you’ll make the same profit or loss. Who knows you may not make any loss at all, if you’re clever enough to invest before the qualifiers.

  6. JFH



    Joe…I don’t blame RD at all…the big guy has my support, as for PL….he should be chased.






  7. Maybe it’s not intended but it really is a comedy show tonight.



    Well done Kevin Bridges, a man of many CQN monikers.

  8. Difficult to see how this 21% decrease in turnover will be clawed back this season after failure to qualify for the CL this year. If anything it will be hard work to marginally improve on this year’s figures. Unless there is some exceptional financial injection (from somewhere as yet identified) – it looks like any income increase will have to come from:



    The Europa League could/should increase ticket sales (due to opposition) but looks like a Last 32 place with increased UEFA money will be a key factor.



    Increased Sponsorship from NB (& others?).



    Increased Season Book revenue (circa £50 increase).



    Dependency on getting to both Cup Finals?



    The residue from the VvD sale? Could a player be sold in January and if so who?



    Maybe I’m missing something but I reckon we will have our work cut-out just to maintain the downsizing ‘status quo’ balance sheet this time next year!

  9. If someone can explain to me…how you can have a bonus culture while income is reduced by 21%….id be happy to listen.





  10. glendalystonsils on

    I blame the team for punching below our weight against Malmo. The CL money would have been nice but the prestige of being in the top tourney is more important.

  11. The Europa league will pay out significantly more from this year onwards, so a half decent showing should see better accounts next year!!!



    the improved t.v deal and secvo will see more money come in



    we don’t have lots of money so lets hope the scouting have got it right this summer



    in summary far to much money on bang average players




  12. Ellboy



    Celtic invested in January, well before the qualifiers in both GMS and SA, both debatably came up short.



    They very quickly bought Denayer’s replacement as soon as the summer window opened in Boyata, and brought in as striker in Ciftci, before a ball was kicked.



    Investment was made early doors, IMHO whether they prove good enough is another matter, and now for next year.




    I’m outraged when I read such crap….what an arse of a man he is.


    Man Utd/ Rangers supporter.


    No time for the halfwit…..and that’s me being kind.





  14. P.s. Its a good think we can afford to move on another 6 or so first team players without reducing quality of squad



    commons, stokes, Charlie, Stefan s, effa and lustig are worse than useless, maybe we will see more young ones




  15. Just heard Keevins say in a response to a caller who stated McCoist was being lined up for the Killie job….” why would he go to the foothills after being at the summit?”


    Dear oh dear what a tool!

  16. DD…im glad ive got as much contempt for him, that he has for Celtic fans.


    If he likes thems so much….he should feck off to ibrox.





  17. I support Ronny fully but we had a manager who made more money for the club than all the suits on the board and the board refused to invest in his plans for the future, they chose to downsize further, people talk about MON’s warning of life in the slow lane, it looks to me like we’re parked up on the long stay car park.

  18. Careful With That Tax, Moonbeams on

    Ripping into wee Jerry Corbyn on the one show .. With some ex Tory a ..hole presenting .. Giles .. Who cares .. Gonna be torture listening to this BBC right wing crap from south of the border over the coming months ..



    Of course .. The Scottish MSM will think he’s the dogs dangles .. To counteract the SNP ..

  19. bournesouprecipe



    Yes we did buy GMS in January & Boyota was brought in early doors but we spent the majority of our budget later in the summer transfer window.



    Simple question – Would spending this money pre qualifying given us a better chance v Malmo?



    Of course it would have.

  20. Well thank goodness for that. Saw a pool of water on the floor under my laptop and thought I had a leak then I realised it was just the tears dripping out of CQN. Phew!

  21. Unbelievable… Bfdj, glib just wants to pay of the creditors as he feels bad about the way they were treated.



    You couldn’t make this up, they really have no shame.



    As an add on, the hunchbacks in work have went into hiding, again.



    Even most of them don’t believe the p**h being spewed, bar one and he is still trying to get that tail between his legs removed.



    As for tomorrow, hopefully our back four (whoever they will be) will gel and we shear the sheep 3-1.

  22. At some point something has to give.



    Is it all about the return of the TFOD Tribute Act?


    Shameful that the sporting hopes and aspirations of so many cant be help back by a bonus loving bean counter and an arbitrage merchant who hasn’t the bottle to admit defeat.

  23. I haven read the accounts nor read back but really. Really?



    Paul’s analysis contains some quite brilliant distractions and made up non accounting terms.



    I see net bank debt has been replaced by a new phrase net cash in bank. We don’t like to talk about actual cash in bank though. That would be highly inconvenient. It’s okay though dos we will go to errr negative net cash in bank during the season so please be very worried.



    Now we come to the best bit. The term net exceptional costs. Never heard of that one. But we should be delighted that it’s reduced to just 3/4 million. A great performance that one. And we also get a wee reveal. Apparently last years exceptional costs (not sure if they were net mind) of over 4m was as a result of the management team leaving.



    I am confused. I thought NL and co just left. After all we were told that NL and co just decided to leave. Did any of you realise they were paid off? Why do you think they were paid off guys???



    Answers on a postcard?



    As for Mr Lawwells statement that the club will do,all it can to,repay the supporters for their commitment does that include downsizing the team, giving our personal details to the police, banning us for no reason and colluding with our enemy?



    Clearly not huh!

  24. Weeminger



    There are other posters strong on the financial specifics, and I’m sure they will make their points,


    Let me put it like this….have you heard anything from the PLC, that intimates that the PLC are collectively foregoing their bonuses due to poor financial results?


    No…you haven’t.






  25. Help required.


    Babysitting tomorrow.



    Looking for very child friendly pub showing the game tomorrow — any tips?



    Is the lounge at CP open for the game tomorrow?

  26. Careful With That Tax, Moonbeams on

    It’s the bleating on about our charitable ethos .. To soften the blow of the results ..



    I thought was pathetic ..



    Always been a charitable club.

  27. Ellboy



    Sorry, but they did spend before the qualifier.



    If they spent more afterwards it was because Simunovic wasn’t required, whilst we had persuaded


    a very reluctant VVD to hang around, until after elimination.



    The budget bulk went on VVD’s replacement who cost more than twice VVD.

  28. The Green Man – you might be right and I’m not actually saying you aren’t but at this stage its totally unfair to criticise somebody for taking a bonus when you don’t know they have. When the full report comes out fire in with all guns blazing if it turns out to be the case.

  29. Weeminger



    Until I hear otherwise…I will assume the bonus culture is still in place.


    That’s the way businessmen operate.





  30. Neganon – NL was on a rolling contract. When he resigned I assume we could either let him work his notice or pay him and let him go. Looks like we choose the latter.

  31. WM @ 7.31



    Basic point — we only owed NL money if we fired him.


    If he walks we owe him nothing.

  32. Weeminger I’m sorry my friend but that simply doesn’t wash. If NL wanted to leave there is no way he would have stayed for a year and no way Celtic would have paid him for it.



    Someone is telling porkies.



    He was clearly paid off. Why?

  33. I am of the opinion that we should have had enough to beat Malmo & Ronny must carry a big part of the blame for our failure. Though whoever felt Dundee United’s front three were likely to fire us to qualification needs the immediate sack. All three as individuals may well prove themselves longer term, but as now collectively they were never going to be good enough.



    Surely Ronny, JC & PL realised we needed better quality before the summer transfer window opened. As we basically went with the same squad of players, minus Denayer & Matthews who failed to beat Maribor last year.



    Mistakes have clearly been made both on & off the field though I will never understand why we withheld much of our transfer budget until the last few days of the window. Surely you want to give yourself the best possible opportunity to qualify for the champions league? Right?



    The upshot of not doing so is not just solely the disappointment of our failure this year but with limited assets now available to help balance the books. It’s quite possibly hampered our chances of CPL qualification in years to come.

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