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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. Auldheid,

     

     

    Well in that case we have to agree…..to be fair you never put a spin on it….I did…..;-))

     

     

    MIT…..I’m thinkin L.A. Confidential…..;-))

     

     

    Neg2…..isn’t a severance package in most modern contracts…..how can you allay blame?

     

     

    H.H.

  2. Neganon2,

     

     

    Lawwell had several issues with Lenny.

     

     

    1. He didn’t like his management team esp Thomson and his drinking and he sacked him.

     

     

    2. Lenny and Paul McBride were drinking buddies and their Sunday club at the Drake was not appreciated by Lawwell.

     

     

    3. Lenny showed no interest in youth. In 2 years he only attended one game.

     

     

    4. He thought Lenny was damaging Celtic as he attracted the knuckle draggers.

     

     

    5. Lenny had direct access to Dermot and could lobby for transfer money. Lawwell as a control freak resented this. Hence the Norwegian Mowbray.

  3. Benjamin Button FC on

    bournesouprecipe on 11th September 2015 5:12 pm

     

    and

     

    hebcelt on 11th September 2015 5:15 pm

     

     

     

    definitely genuine.

     

     

    the handcuffs are off and JS is enjoying himself.

  4. Neganon 2

     

     

    Maybe Neil wanted to leave – was actively seeking to leave…maybe due to non football reasons. Maybe Celtic decided at the highest level to pay him a year’s wages after all he had done for the club and all he had been through while at the club.

     

     

    If Celtic didn’t do that you would be on here deriding the board for treating Neil in such a way.

     

     

    Celtic knew he wanted to go and moved early and decisively to minimise disruption and bring in a new manager.

     

     

    Celtic treated Neil Lennon well.

  5. Fellow CQNers, Mr Rafferty would appreciate your wise counsel.

     

    He finds himself in Glasgow tomorrow (installing his boy in Glasgow University) and is staying near Kelvinbridge subway. While Mrs Rafferty and Ms Rafferty are off to the shops are there any bars nearby you could recommend to watch the game?

     

    Muchos gracias

  6. latchford

     

    what does Norwegian Mowbray mean? I was told by an agent, involved with Celtic weeks after Mowbray had started, that people at Celtic were openly questioning why he took the job as he showed no interest in it. Are you saying Ronnie has no interest in making a success at Celtic! I personally think that is well off the mark.

  7. O.G.Rafferty

     

     

    I think Wintersgills on Great Western Rd ( towards St.Georges Cross ) will be showing the game .

  8. NegAnon2 on 11th September 2015 8:23 pm

     

     

    You are like a constant menstruation on this blog – always bleeding supposition without factual backup.

     

     

    How do you know the intricate T&Cs of Lenny’s contract?

     

     

    He was as stated on a ‘rolling’ 12 month contract……………

     

     

    Did the loss of JM, GP & AT change those terms?

     

     

    Was the contract to be redrawn by bringing in RD as his no.2?

     

     

    Was a compromise reached in terms of pay-off?

     

     

    Was a pay-off part of his ‘confidentiality’ clause?

     

     

    You know what? You don’t know and neither do I – and I doubt nobody will unless the PLC clarify by publishing a statement or highlighting the terms in the accounts.

     

     

    I am none too happy with the ‘downsizing’ and the general malaise but guess what?

     

     

    I don’t make a f@@king pain in the ar@e of myself by bleating on here at every given opportunity. If opportunity arises – I ask questions (like 1994) and occasionally offer opinion – without facts (suggesting corporate mismanagement) I am as wise as the next supporter.

     

     

    What I don’t do is – habitually do the Club down.

     

     

    p.s. Save yourself typing a reply – I regularly scroll past your posts – unfortunately your blog name tends to appear when I read others’ posts.

  9. Lurkin … I said family, not famiglia!

     

     

    Clogher …. Dont tell KT, but that had occurred to me. It would be great if we could manage it.

  10. NL was on a 12 month rolling contract. My understanding is that it had to be paid up no matter whether NL resigned or was given his 12 month notice. So from the point of NL giving his notice he would still receive 12 months salary and be an employee. Like Ally my understanding is his years notice period was similar to garden leave all by a different name. Unless of course he found employment during that period (which he did) then contract terminated at that point.

     

     

    MWD said AYE but could be talking bollocks

  11. What is the Stars on

    Mike in Toronto

     

    It would be good to meet you in Dublin

     

    Myself and canamalar are having a bare knuckle boxing match to raise funds for something or other. You are welcome to referee. …but remember he is going down

  12. the glorious balance sheet on

    Wits

     

     

    Yep I’ve been so completely brainwashed by the msm that if you hover over my posts on CQN and press f5, Hugh Keevins nasal whine is activated and automatically reads out my posts :)

     

     

    BSR 9.04pm

     

     

    Malmo’s coefficient points at the start of this qualifying campaign were 12.something whereas we were at 36.odds; we had three times the co-efficient they had. Maribor’s coefficient was also much smaller compared to ours and in 2013 we were almost eliminated by Karagandy, ranked 236 in Europe at the time.

     

     

    These are not teams on the up, who take us by surprise a la Basel in 2002. Maribor followed up this season by being put out by Astana of Kazakhstan in qualifying round 2, Karagandy have disappeared farther off the radar, and Malmo may not even be in the CL qualifiers next season as they’re not top of the Swedish league.

     

     

    In a one-off cup game such as the Inverness tie you reference, you can have rank bad luck or have the tie changed by a red card. I don’t think a one-off cup match can be compared to a 2 leg tie; bad luck should not be as decisive a factor over 180 minutes of football as it is over 90 or 120.

     

    To lose 1 qualifying tie in 4 to lower ranked/ less wealthy clubs is understandable; to lose 3 out of 4 and to have come the width of the crossbar away from losing 4 out of 5 cannot be explained away by the vagaries of cup football.

     

     

    You are right that we are far too exposed in Europe. I remember being appalled that we lost 4 goals to a poor Zagreb team that had nothing to play for last season; the frailties evident in that game were still apparent in Malmo.

     

     

    You pose an interesting question on hareide. Ironically Ronny was malmo’s first choice and they went to hareide after Ronny turned them down.

     

     

    I think I would take him or someone of his ilk, who has experience of CL qualifying success, over Ronny if we show no signs of improvement/ keep making the same mistakes in the Europa group stages. My concern is too often in Europe other teams have the measure of us after the first match and that has to be down to the respective coaches though for now let’s see how Ronny does in the next 6 European games.

     

     

    I don’t think that hareide’s the type of coach the club are looking for though, the last 2 appointments have been young managers and I would expect more of the same next time around.

     

     

    Good to see hearts getting pumped by the way.

  13. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar...... Ipox belongs to the creditors on

    Chris Sutton’s no a very good commentator

  14. the unthank road on

    Glogher Celt , you mentioned Christie Dignan a wee while ago. Is he well?Last I heard Aslan had cancelled their gigs because he was so ill???

  15. Just a personal opinion, and has been used before I believe

     

     

    The Cost for Jozo is being quoted as €5.5m – will this be the total package, including his salary for the deal ?

     

     

    Oh, And I blame Ronny for our Champions league failure this year, his tactics cost us the game in Malmo

     

     

    Hail Hail

  16. WITS …. referee?! you guys are way too civilized for me !

     

     

    Clogher …. you’ve got me thinking now ….. March 26 Dublin…. then back to Glasgow for the following weekend to see the Hearts game…. I’m liking the sound of that!

  17. What is interesting about this game is that Hearts walked the lower division and started really well but ICT have stood toe to toe with them and gradually took over tonight.

     

     

    I’ve seen some of TRFCs games where they steamrollered the opposition but on tonight’s evidence the top six PL teams will prove a lot tougher nuts to crack for a promoted team.

     

     

    Hearts were not bad as such, they just ran into a team that had as much strength and quality as they had.

  18. Cowiebhoy

     

     

    Agree in part with your point about Ronnies tactics mate but I think the players let us down big style on the night too .

     

    HH

  19. Well done, Ryan Christie.Great assist.

     

    Sevco tomorrow -3, 11/5.

     

    Hope bet is down, but can’t see it.

     

    No quote for -4.

     

    Livie very poor outfit.

     

    A bit nervy tomorrow, fingers crossed.

     

    HH

  20. OG Rafferty

     

     

    I concur with FGF. Watch in Wintergills Great Western Road. Best Celtic pub up there.

  21. Unthank Road,

     

     

    He is advertised as being on the Late Late Show tonight in Ireland. He has been very ill but still fighting.

     

     

    Mike in Toronto,

     

     

    We’ll reserve two tickets and hope you can make it.

     

     

    WITS,

     

     

    No fighting, You will be too busy doing tours.

     

     

    HH,

     

     

    Clogher

  22. the glorious balance sheet on

    CowieBhoy-

     

     

    It might well be. I remember when we signed Alan Stubbs the best part of 20 years ago we announced it as a £5.5 million deal, aggregating the £2million signing on fee and wages spread over a 5 year contract to the £3.5million transfer fee.

     

     

    So obfuscation over transfer outlays isn’t a new thing. Though it is getting much worse in football in general now with sell-on fees making it harder to track who has spent what and who gets what exactly. I read somewhere that as well as Groningen , van dijk’s club prior to joining Groningen (waslwijk I think) were also due a cut of the transfer fee paid by Southampton.

  23. FGF

     

    Hope your well Bhud:-)

     

    I do agree with you, the players underperformed, trying to stick to Ronny’s tactics, which leave us exposed, particularly in Europe

     

    I think at times in the SPFL, teams find space to attack us too easily as well

     

    I honestly think we struggle with this 4,2,3,1 ?

     

     

    Hail Hail

     

     

    PS, you ordered from your Bro :-)

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