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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Ellboy
What would you have done bearing in mind all you’ve got to do is better than 4-3?
Better striker – who?
Better manager – too late you’ve got RD JC and JK
We are not a CL club, as the Europa League is mostly likely to prove, as it most likely
will, with Ajax and Fenerbahce along the way.
Anyway enough already.
HH
If you know he’s going and a transfers set .. Reinforce the team ..
He’s away anyway .. Hardly speculate to accumulate ..
Just common sense ..
Lawwell, made an arse of it ..
Get over it .. Millions of Tims are gonna have to ..
Dug oot :)
ELDIEGOBHOY on 11TH SEPTEMBER 2015 8:19 PM
Lennon’s Passion
Are you real? Amusing?
Are youReal –Well I will be in Sheep land tomorrow so if your there say hello to the real me.
Amusing–Well I try my best. Better with a few pints in me.
Hail Hail
Neg2
“We now know the club punted NL and co. ”
You state this as fact…..evidence makes a fact more digestible….;-))
H.H.
“Still a big fan of Izzy but on paper Blackett gives us more strength, height & athletisim”
Ellbhoy,
Me too and I agree.
Blackett will be the end of Charlie at left back.
HH
Don’t get these numbers, anyway about to drive junior to a party in Slane, Co Meath and no doubt head back later.
Great to see DD back, I think Christie Dignam is on the Late Late.
Looking forward to the match tomorrow and doing me sums to try and make sense of the numbers.
I heard twistsandturns came in 2nd at 10/1.
HH,
Clogher
MadMitch
Why hold on to VVD?
If you recall one of our problems last season was going into CL with a new CB pairing.
When the two central defenders don’t know each other too well mistakes happen. It’s what makes tomorrow a bit concerning and anyone who knows anything about football will tell you that.
In building an amateur team my first priority was the spin.
So this year we either repeated last year’s mistake and went into CL with a new pairing or kept VVD and recruited Boyata as early as possible to allow some familiarity.
It is pretty obvious why we kept VVD for the qualifiers and had we qualified the thinking would have been justified.
You have 6 cup ties to qualify but 38 league games for bedding in to take effect.
It took a couple of months last season before RD had his team bedded in, after that the title was ours.
That VVD then acts as a cushion against the cost of not qualifying, meaning we can spend to replace him and we have no idea how good he is or might turn out to be tells me that the thinking was anything but stupid.
Damned f you do, damned if you don’t for some folk
Neganon – ok he works his notice but the results aren’t great. Then the board gets criticism because of course he wouldn’t be fully committed.
You can have your scenario. I’ll have mine. We’re both just as likely wrong. Still he seems quite happy with the board that sacked him.
Lirkintim, Paul has said that the 4m in exceptional expenses last year were for the management team leaving. We were all told they resigned. They left of their own accord.mwhy did we,pay them the money then?
Simply doesn’t make sense.
Either they were,punted or given hush money. Either way it was celtics choice to do so.
Why?
Lawwell has reduced Celtic to a £50M turnover club while downsizing to such an extent that he can still earn his bonus.
Silence from Paul67 on the one man who is single handedly destroying Celtic.
There must be an article in the offing about about Dave King or Campbell Ogilvie.
Ps. Can’t wait to see the Croat Bhoy we spent £5M plus on who is on half of Scott Browns weekly wage. Suspect there is a buffer for Pedros bonus buried in here after his latest CL failure. Imagine trying to qualify for the CL without a striker — no I can’t either.
Geordie @ 8.19
Never get things like that on council telly…….drat.
GEORDIE MUNRO on 11TH SEPTEMBER 2015 8:33 PM
“Still a big fan of Izzy but on paper Blackett gives us more strength, height & athletisim”
Ellbhoy,
Me too and I agree.
Blackett will be the end of Charlie at left back.
Hope he’s the end of Charlie full stop.
Will the money men continue to make substantial bonuses with these figures
Why the CL isn’t prioritised is mystifying
Making an arse of it = got greedy, gambled .. Lost ..
Away
BSR 8.30pm
Are Malmo more of a CL club than us? Are Maribor? Absolutely not in my view.
We can’t hope to live with Chelsea, barca, psg, or even galatasaray, Donetsk, Benfica, Porto etc. I accept that, but we absolutely can and should be beating Malmo, Maribor and such like more often than not. These are clubs with a fraction of our money in countries whose best talent is picked up by other leagues at a very young age.
At the CL third qualifying round draw last season the Aalborg manager said he wanted to draw Celtic as he was certain they could beat us (in the event they got Zagreb and were eliminated).
Malmo were doing cartwheels at being drawn against us and said so repeatedly in the media. Which should have fired us up.
Why do all these smaller clubs with less money from even smaller leagues all fancy a crack at Celtic? We should be focussing on that, rather than wringing our hands about not being able to compete with the big guns from the big leagues. We all get that. The big guns are a distraction, they’re not our rivals, competitors or peers. Malmo, tel aviv and co are our benchmark and rivals now.
For us CL qualification does not require living and competing with man city or Porto or even Ajax or Psv. It is about beating the champions of the Slovenian/ Swedish/Norwegian/Azerbaijani/Albanian etc leagues over 2 matches. We aren’t able to do that and I think it’s in order to ask questions about why that is without clouding the issue by comparing our resources to teams from England Italy Spain etc. that’s simply not relevant to our performance in the qualifying rounds of European competition.
Neganon2,
Lenny was forced out and paid off. His lawyer runs Pro Legal and is Armstrongs agent and has represented Celtic legally on a few cases altho he screwed up the Tonev case.
That explains the £4M in the accounts.
Good Evening.
Amid all the hilarity about Dave King’s comments on ‘unliquidating’ Rangers, it was easy to overlook the fact that Sevco finally got rid of McCoist yesterday.
Here are my thoughts on it…
https://theclumpany.wordpress.com/2015/09/10/goodbye-gnomemeister/
Enjoy the rest of the evening.
Ha!
They still don’t like it up thum.
Scoddland’s Sleekit Shame
Turnover down a fifth
Squad denuded of any decent talent
No CL football this season
Not much sign of progression
bournesouprecipe
Deila picked the wrong team & formation, I said as much before the game but what you or I would have done is irrelevant. Ronny has the job, it’s ultimately his responsibility but I think he could have been given more help.
Anyway as you say, enough already.
Hopefully the new signings can take us to the next level. HH!
The Glorious Balance Sheet.
Ending the season in December not only removes the risk to the title we need to start qualification if we move on our best players, it means we go into qualifiers match fit if season starts March or April.
That is my solution to the problem you correctly identify.
Bsr,
US open app neebs.
Ye think I get control of the telly box when there’s soaps on!!??
NodangerStewartGranger csc
Goal ICT ….well set up by Christie…..good play
Weeminger Celtic must be the most mealy mouthed employer ever. If someone is a wee bit unhappy we pay them loadsamomey and let them go.
How awfully bloody nice but dim.
There is no way, no way Celtic would have done that and I have to say that you are even suggesting it is pretty revealing.
Maybe he’s happy cos they paid him to be.
You know my fellow Celtic supporters, the hardest thing I find to bear isn’t this board of directors who are bleeding the life blood from the club I love. It’s the fact that there are so many clearly intelligent Celtic supporters who, it seems don’t want to face up to what is going on. Even when the mask slips many will try to find excuses no matter how implausible.
I don’t recognise what we seem to have become. That so many want to go back to a bike sectarian relationship which prayed on is as victims astounds me. That so many just don’t want to,face up to what is staring them in the face just saddens me.
I thought we were better than that.
But hey. What do I know?
Auldhied,
read yer response earlier in the week with interest…..but I’ve got to ask “Is there any such thing a pure altruism?” It’s ok asking for club chairmen to think about what’s best for the game as a whole…..asking them to put aside their own clubs needs…..but I think this type of altruism is a red herring…..
I ask myself this…..”Is any football clubs contribution to charity altruistic?”…..and I’ve got to answer…..on the surface this has to be a great gesture, but surely this is done with the business model of free publicity & mindful of any tax breaks?
H.H.
Christie lays it on a plate.
Brilliant play by him.
1 0 ICT.
Christie scores for ICT
I mean sets up the goal … Hahahaha
Auldheid
I’m coming more and more round to the idea of changing the league calendar/ adopting summer football.
But The thing is such a solution is not without its problems. If we move to a different league calendar then we will have to move to a different transfer window system which wouldn’t be aligned with the leagues where we sell players too (ie England).
If our strategy is to sell players to England how can that work when we adhere to a different football and transfer window calendar from them?
Hello lads
Unfortunately, some family stuff has arisen, so it looks like our holiday to Ireland and trip to the Hearts game will have to be postponed for a while.
I was looking forward to putting faces to the blog names at the game, but hopefully we will be able to make it over in the spring instead, and will be able to meet up with you all then.
I haven’t seen any Friday night music yet …. so, I’ll start….
if you want something beautiful, how about a bit of Dianne Reeves?…
https://www.youtube.com/watch?v=IT1W2buAmlk
Geordie Munro
I hope so too. The only possible position Charlie should be played is in front of the back four, behind Brown & Bitton. Otherwise he should be nowhere near the team.
Latchford that much is clear but some of us would rather believe that we, out of the goodness of our heart, just gave him the money.
TheLurkinTim
I don’t remember advocating altruism which is selflessness for sale of others.
I was advocating selflessness for sake of self in an industry that depends on having others to have a business to ploy.
It’s where football differs from normal business it is a totally interdependent closed circle.
Neganon – here’s a scenario that works for both of us. Remember RD was supposedly interviewed as Asst.
What if NL resigned thinking he’d work his notice with Mjallby getting mentored as replacement. The board says uh uh we’ve got RD lined up to come in for a year as Asst then take over.
NL very unhappy board agrees to pay off for silence. Explains a) JM slightly odd departure b) NL outward happiness as he did the honorable thing and c) RD coming supposedly as Asst but ending up manager.
Wine time. Good weekend to all of you.
The glorious balance sheet
Very good post. Total agreement
However you must be a hunnish type with a sense of entitlement who has been brain washed by the anti celtic Scottish media
TGBS
No, they’re not despite their higher coefficient and a technically very sound, set up.
They won a Cup Tie in an easier format than Inverness Caley did, or Aberdeen have done, sadly it doesn’t take much, give or take ‘the odd hand ball’.
Celtic in Europe are presently set out to fail, I see Age Hareide is backing Molde, allegedly.
Celtic can’t defend in the Europa League or the Champions League it’s fantasy football when you have a ‘high pressing game’ with inferior, not enough defenders, bog standard strikers, and no creative mid.
I’ve stated earlier the player quality gap in Scotland between us and them, is enough, but not in Europe.
Would you take a Hareide over a Deila – if we’ve to start all over again next year?
FFS Dermot, you sold my best players and brought in shite.
And it’s no wonder Ronny will struggle.
As for the figures today, actually better than I expected, we have £4,7 + mill in the bank, I personally would play the balance sheet up front, fear the bejesus out of the oppo.
TGB
If our season ends Dec and we have good players to release English clubs will be keen to sign in a window where quality is short.
We sign or develop our own in advance from home and loan out or shop in other markets.
Summer football is a no brainer for me.