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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. Madmitch – are you saying he had no notice period if he resigned?

     

     

    I don’t think that’s the case. Therefore he either has to work that or if the club thinks it would be better they pay him his entitlement and let him go so they can get the new guy in.

  2. WM @ 7.39

     

     

    We pay him off with how much?

     

    Full 12 months as set out in his rolling contract?

     

     

    And then he parades himself around the leagues down south to get another gig?

     

    Something doesn’t stack up.

  3. Neganon – so NL is tied to 12 months notice in either direction but if he chose to resign would simply forego what he was entitled to. Ok.

  4. Madmitch – maybe but the initial question was why was there any payment by the club at all and I’ve given a reason.

     

     

    Of course there’s Mjallby and Thompson included in that figure too.

  5. Madmitch

     

     

    Thanks, first time in 50 years I been labelled a bean counter huge personal compliment.

     

     

    What bit of Celtic have reportedly (MSM) paid Zagreb more than twice for Simunovic what they paid Groningen for Van dijk did you not get?

     

     

    VVD wasn’t going to CP after Celtic’s CL exit, this season never mind next, – he’s gone, didn’t want to wear the Hoops, a memory.

     

     

    Some say we should have sold him early doors for his cheek, and who can blame them?

  6. Seems from those figures posted that we’re in an unsustainable decline…..but don’t worry the extra income we’ll get from the new super duper TV contract, brought to us from FTSFA, should see us through to the return of The R@#gers…..ffs

     

     

    Now, I generally don’t post negative comments re the boards business agenda…..mainly ’cause I don’t know what it is…..but these past 2 summer windows have got to be seen as failures…..no CL income, sell our best players to make up the income shortfall…..is it gonna be ad infinitum/nauseum…..

     

     

    Anyway…..team for tomorrow…..

     

     

    . Gordon

     

     

    Janko. Boyata. Simunovic. Izzy

     

     

    . Brown. Rogic

     

     

    Forrest. Armstrong Stokes(last chance)

     

     

    . Ciftci

     

     

    & of course a Celtic win by 2…..;-))

     

     

    Petec…..please don’t flounce…..if you think someone is trying to undermine your faith…..fight your corner & shame on them…..tin hat on…..

     

     

    It’s well established that Roman Catholicism & Freemasonry are warring siblings from the same mother……it being Ancient Egyptian Sun(Son) Worship…..you should do a wee bit of historical research to see why not everyone agrees with you…..Amun(Amen)

     

     

    H.H.

     

     

    KTYF(Keep to your faith)…..it’s what sustains you…..;-))

  7. lennon's passion on

    Wonder what wonderful tactics DEILA the Dud will come up with tomorrow. Always have his master plan B to fall back on. Hey kids leave those chips alone.

  8. twentyfirstofmaynineteenseventynine on

    BOURNESOUPRECIPE

     

     

    We’ve gone downhill since we qualified for the last 16 twice, should we not be looking to go forward ? Have we not got the money behind us to get us where we believe we should be ?

  9. lennon’s passion

     

     

    Awe right we get it….you don’t like the Celtic manager….fekn give us a break!

  10. So, in the words of DD not a great performance “on or off the balance sheet”.

     

    PL may struggle to get the old heated driveway jetwashed and spruced up for the winter months without his performance related bonus. Whats that Skip? Ah, NOT performance related. I see.

     

     

    Ach, its Friday night. Ill leave it there.

     

     

    Wee Craigy took over Ra’ Bears.

     

    Day 1 ran up the marble stairs.

     

    With his wee snout

     

    He rooted about

     

    Day 2 sold the Arsenal Shares

     

     

    Away tae watch the Jambos……and wee Christie.

  11. lennon’s passion

     

     

    Could you remind us what Lenny’s record in Europe was in his first two seasons?

  12. BSR @ 7.28

     

     

    If VvD was for the off then why did we wait until after our CL elimination to get his replacement in?

     

     

    Stupidity and bad club management beyond belief.

     

    Was it not just 10 years ago that we made the same set of mistakes.

     

    Getting players in after they were needed and we had been papped out.

  13. BOURNESOUPRECIPE

     

     

    So we planned for failure with targeting Simunovic?

     

     

    Obviously he wasn’t required for qualification & VVD was always likely to leave. Although who knows, qualifying may have seen him stick around until January.

     

     

    Worst case scenario, we spent the fee for Simunovic earlier in the window on other areas of the team. Still failed to qualify & used the money we spent on Christie & Allan, plus whatever we budgeted for a last minute striker ;) on a Europa League standard Center Half, instead of the CPL ready Simunovic.

     

     

    You are clearly satisifed with how we went about things this summer but the bottom line here is we failed in our main objective for this season. Personally I prefer to give myself the best possible opportunity to succeed & I think Celtic could have done more to do so.

     

     

    HH!

  14. Careful With That Tax, Moonbeams on

    Feckin, Patsy Kensit and Phil Tufnell on celeb 15 – 1 on C4 ..

     

     

    Thanks nawbags .. Could never be more entertained ..

     

     

    Bless yeaz :)

  15. VP…..awe come on, it’s not as if Deila hasn’t failed…..never mind that his teams are being diluted…..;-)) after yesterday’s reminiscences I’ve come to the conclusion that after everything Jock Stein miraculously did for the club/fans…..some people on here won’t accept lesser immortals…..;-))

     

     

    H.H.

  16. lennon's passion on

    79CAPS on 11TH SEPTEMBER 2015 7:57 PM

     

     

    What’s passed manager got to do with it. DEILA the Dud is in charge(using term loosely). Out his depth.

  17. anyone who works for a major PLC like i do will know this…

     

     

    the CEO and directors run the company predominately for their own financial benefit

     

     

    they may make decisions that will be to the detriment of the customers

     

     

    they WILL make decisions that will be to the detriment of the staff

     

     

    but they will NEVER make a decision that will be to the detriment of their own overflowing troughs

     

     

    and it doesn’t matter if it all goes tits up – they will have a severance clause in their contracts which would be worth enough to the rest of us to mean we would never need to work again

     

     

    so why should we expect the CEO of Celtic PLC to behave any differently

  18. scoddish fitba was downsized as one of our erudite contributors offered a few days ago……..

     

     

    As magic as Celtic is it can’t wave a Dody davie Wand and ignore the realities of life here. For the club to cop for all the blame is ludicrous.

     

     

    While many genuine tims are unhappy with aspects of the team and club management there are some sleekits who see it as an easy opportunity to stick it to Celtic.

  19. Beginning to wonder about this site, may have been corrupted by to many people for my liking.

     

    I have taken great pleasure and some pain following Celtic but on the whole an absolute pleasure ,consumed my life for 20years of the last 40 but I’ve mellowed allegedly. Everyone is entitled to an opinion of course but some of it on here is way over the top.

     

    If you don’t get any pleasure from Celtic, jog on and find a new pass time. Life is to short.

  20. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar...... Ipox belongs to the creditors on

    Crickey, the meeja are now spreading rumours to try to get sally a joab with BT Sport (or should I say get the joaby a joab …. he he) ….. BT Sport will need to be very careful …..any Celtic supporter worth his salt couldn’t stomach watching wee slealit’s fisog at all…. and….the one’s he helped to dupe into buying season tickets would go ballistic at the sight of him on TV ….anyway, not going to happen – See more at: http://www.celticquicknews.co.uk/the-dusty-dry-bones-of-queen-victoria/comment-page-2/#comment-2674962

  21. Myself and Awalkacrosstherooftops heading to Aberdeen tomorrow for the game so we got our picks in early, here they are if you fancy a punt:

     

     

    Pogmathonyahun – Brighton

     

    Jobo – Dundee Utd.

     

    Lennybhoy – Walsall

     

    Awalkacrosstherooftops – Cardiff

     

    PFayr – Coventry

     

    The Token Tim – Charlton

     

    Greenlion2 – Sheff Utd.

     

    Blantyretim – Millwall

     

    Keep the Faith!

     

    Hail Hail!

  22. lennon’s pasion

     

     

    Well according to your logic Lenny was also a dud. Perhaps you would only accept a Jock Stein as Celtic manager.

  23. twentyfirstofmay

     

     

    NFL did one from three, then he screwed up in the transfer market, they all fell out, he moved on.

     

     

    The new coaches are picked

     

     

    The RD budget is set in stone

     

     

    There was little or no time to prepare last year.

     

     

    RD flopped at the first.

     

     

    The RD budget is set in stone (again ) he brought in two outstanding Scottish players in January.

     

     

    We hung on to VVD, replaced Jason Denayer, and brought in another striker, love him or loathe him he fitted the criteria.

     

     

    We failed, narrowly

     

     

    If you want 4m 5m players and think it’ll make a difference buying them, before we see departing players like VVD, personally I don’t think it would. First of all, they won’t come and secondly if they did, they don’t fit the SPL and what the only team in Scotland could come close to paying in salary.

     

     

    The locus as I’ve already posted has fairly quickly shifted to RD and his staff.

  24. Careful With That Tax, Moonbeams on

    Get Sally back on QOS .. Him and the bold Phil Tufnell ..

     

     

    Pooling and sharing .. Poor man in Glasgow is no different to a poor man in Liverpool ..

     

     

    When we see the cheeky chappie’s face ..

     

     

    We’re all in it together ..

     

     

    Or!

     

     

    https://m.youtube.com/watch?v=gpWS1gvjtqo

     

     

    Phone in with Ally .. Why don’t my tomatoes ripen .. They content being green ??

     

     

    :)

  25. MadMitch

     

     

    By the same token if we’d sold him before the CL qualifiers we’d have been called other names, like ‘sell out’s’

     

    or ‘bonus maker’s’

     

     

    It’s just not as simple as buy, buy, buy.

     

     

    Surely you must know this by now?

     

     

    The supporters have got to go to Celtic Park even when VVD has rolled up in the bowels of the earth at Southampton, where he always wanted to be ever since he was an amoeba.

  26. Wee,inter okay now you are talking mince. If NL resigned and he had one years notice then if your Celtic you say work it. After all we ended up panicking into RD. we didn’t need to do that if we follow your logic.

     

     

    If Nl wanted to leave he wouldn’t have insisted on the notice period.

     

     

    I think Paul dropped a ball here.

     

     

    We now know the club punted NL and co.

     

     

    Puts a wee different complexion on things does it not?

     

     

    Or is cqn not too bothered about being told lie after lie after lie?

  27. Be good to finally see Simunovic in the hoops but I’m equally looking forward to seeing Blackett play at left back. Still a big fan of Izzy but on paper Blackett gives us more strength, height & athletisim. A possible back four of Janko – Boyota – Simunovic – Blackett though clearly inexperienced has an exciting ring to it. With Ajax & Fenerbave around the corner hopefully they can hit it off quickly.

  28. Careful With That Tax, Moonbeams on

    Anyone think Adam Rooney could have been a domestic sensation in the hoops ?

     

     

    :)

  29. lennon's passion on

    Lennon had a lot more to deal with than RD. Had old rangers in the league,the abuse/bombs and bullets to deal with. Also Neil’s first job(one he shouldn’t have got). RD is meant to be a modern forward thinking manager. NL will always get my respect for what he done for us as a player and the shit he put up with as manager. PL sold NL best players aswell.

  30. the glorious balance sheet on

    We didn’t want to let VVD go before the CL qualifiers. I’m sure Zagreb felt the same about simunovic so I don’t see how that deal could have been done any earlier in the summer.

     

     

    I do think though that if we persist with this sell players to England strategy then we must do the transfer business in the january window – that is both sell the “star man/ prime asset” to England in January and get his replacement in in January too.

     

     

    If we need to take a hit of a million quid or so on the purchase price realised for our prime asset in January then so be it.

     

     

    Doing our transfer business during and after the CL qualifiers is too disruptive to the team. Look at VVD in Malmo for evidence of that.

     

     

    Sorting it out in January gives us a few months to get players used to playing together in ahead of the CL qualifiers. It could be the difference between getting the extra £15m from the CL or not.

     

     

    We are that far ahead in Scotland that selling the star man in January shouldn’t risk the league. And frankly i can’t see us having any interest in Europe after Christmas any time soon so that’s not a consideration.

     

     

    This January was a great opportunity missed to prepare for CL. The Dundee utd lads are maybes aye, maybe naw prospects who were never going to be pivots in CL qualification success this year.

     

     

    We need to start buying players with a view to CL qualification not with a view to how much we can make from selling them on. Sort out the CL qualification and the resale of players looks after itself. Sadly the signings we’ve made this summer are not geared towards CL qualification next year, they’re geared towards resale to England in 18 months to 2 years time.

     

     

    How much European experience do our signings this year have between them? Jozo apart (and he has little) then absolutely none is the answer.

     

     

    If Bitton or Johansen are next to be sold then that is more euro experience gone to be replaced with euro novice prospects and CL qualification inevitably gets harder and money gets tighter and the ever decreasing circles continue.

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