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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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747 Comments

  1. Afore i forget…..

     

     

    P67’s alagory re queens dust…..

     

     

    Can I just say that there is no use/need for an unelected head

     

    of state in a democracy…..they are an anachronism…..if all of the sycophants in the house of commons applied enough effort into fighting societies wrongs as they do in trying to gain entry into her club…..well?

     

     

    H.H.

  2. Mikeintoronto: Hope everything works out well for you and KT. Easter 2016 would be great in Dublin.

     

     

    Couldn’t post last night as site collapsed on me so here’s to Jock Mòr:

     

     

    http://youtu.be/aiwzeW6WqCo

     

     

    Delany’s Dunky: great to see you posting last night. Had to give up on Hearts match. Kilmarnock in late November looks like the next visit over.

  3. Latchford 9.13

     

     

    Neil Lennon attracted knuckle draggers ??? I shouldn’t even comment

     

     

    Neil was and is a Celtic legend player & manager, it’s just a pity he had to leave his place of work for a more peaceful life, I was gutted when he left but now sort of understand

     

     

    Cowiebhoy

     

     

    Malmo failure was the players fault, the game should have been done and dusted at Celtic park, am afraid the players in Sweden were hiding behind the manager, why so on top at home and so bad away, it’s not as if the manager changed the team, sometimes it’s easy to blame the manager, by the way at both games I thought we might have lost a couple of million on Virgil as I thought his defending was shocking, great with the ball at his feet but we have Biton to do that, I would have preferred Virgil just to be a centre half and defend

  4. Jesus Grist Preacepta…..don’t gie herself a heart attack wae all that shouting…..;-))

     

     

    Glad I could calm u down…..;-))

     

     

    H.H.

  5. Cowiebhoy

     

     

    I’m fine mate , hope things are good with you .

     

    I’ve ordered 1 of each badge mate as usual :-))

  6. TGBS

     

     

    Thought the Swedish coefficient was higher? no matter, because Celtic should have won the tie, because we are a ‘bigger’ club yada, yada. We didn’t and IMHO got suckered over the 180 minutes.

     

     

    Depends on how you view Cup Tie football away goals and all that, gave Malmo the edge, which of course ICT or any Scottish team couldn’t get against Celtic, – IMHO the tie was lost when Malmo scored to make it, -3-2 at CP, and they knew it.

     

     

    Without going over old ground they were always going to win 1- 0 at home see their record (the second tactical flop goal was a mere Brucie bonus )

     

     

    From what you say if only Malmo had taken first pick Ronny, they’d now be playing ‘high pressing’ soccer

     

     

    Our last 1st team Euro coach was Josef Venglos, but then before that it was nearly Guus Hiddink.

     

     

    Onwards and upwards with Ronny csc

  7. Cowiebhoy,

     

     

    We conceded 8 goals fewer last season than the side the year previous that broke the shut out record.

     

     

    I don’t think the other sides can break it as easy as you suggest.

     

     

    The ol 4-2-3-1 isn’t Ronnys formula. It’s played by many teams throughout the world. Some better than us. some worse.

     

     

    HH

  8. Almore

     

     

    As long as I see you this year, all shall be good.

     

    My son and I had an excited look forward to Dublin Easter 2016 last Saturday night.

     

     

    Dublin Calling. Hope to see Mick Jones there. :)

  9. see if VVD had left the header to biton or vice versa. 3-1. and if the ref hadn’t chalked off a good goal then champions’ league. funny thing those tactics.

  10. Winning captains and Weeminger. Read again what you wrote and ask yourselves.

     

     

    Why did I write that. Why did I feel the need to scrape around for excuses?

  11. Neganon – RD goes to the board after the Malmo game and says I know you supported me but I’ll never get into the CL but I can guarantee the league so I’ll work my notice.

     

     

    Going by what you posted earlier you’d expect the board to go along with that.

  12. BSR / AH @ All night

     

     

    There was a complete lack of planning last season.

     

    Very little spend last summer — mainly on a half finished CF who came over wearing L plates.

     

     

    RD mentions he doesn’t like loan deals.

     

    And guess what — 5 loan deals are duly delivered.

     

     

    Everybody could see we had issues with the defence last season.

     

    No realistic competition at LB.

     

    Both CB’s on the move in the coming summer.

     

    Injury problems at RB.

     

     

    What happens — what long term thinking did we show in Jan.

     

    Very little would be my suggestion.

     

    Then we have the window opening and then what?

     

     

    New CB is a half finished project who appears with L plates.

     

    We then sell an established RB and loan out a home grown youth.

     

    We then follow this up with another project who is a novice at RB.

     

    And still no realistic competition for EI at LB.

     

     

    All in all not a very good level of preparation for the upcoming CL qualifiers.

     

     

    We had the money so why no effort to buy established defenders?

     

    If we are going to buy talented youths then why no movement in Jan?

     

     

    The excuses being put forward for our last minute “spendathon” are pitiful in the extreme.

     

    It is the summer of 2005 all over again where money might have been spent.

     

    However timing is everything and we failed.

     

     

    Stop defending the indefensible.

     

     

    PL is only interested in his bonus and the Irish Raj is only interested in his bank balance.

     

    This season as always they will take out while we put in — £45mill approx.

     

    That is shameful situation we find ourselves in.

  13. What is the Stars on

    Unthank

     

    Clogher

     

    Christy Dignam singing live on RTE now. The late late show

     

    He seems well. But that is a cruel disease

  14. “RD mentions he doesn’t like loan deals”

     

     

    Madmitch,

     

     

     

    No he doesn’t.

     

     

     

    he said They are not idea. Especially when you have no option to buy.

  15. lubo of the lamp on

    latchford – 9:13 pm

     

     

    All true or there again all a crock of crap. Think you deserve plaudits though considering it was composed on a night when the moon isn’ t full, definitely worthy of a yip yip yooouuuwww in my books anyways.

  16. Praecepta what lovely use of bold and nice covered up,sweaty words.

     

     

    Mixed with rather silly excuses.

     

     

    Those who run Celtic only have their own interests at heart.

  17. Hi Paul67,

     

     

    Those numbers look pretty grim, reduced t/o and a loss to boot.

     

     

    See too factors at play here, an oversized, under-achieving squad of first team players and no UCL.

     

     

    We’ve done well to manage the first but it appears not enough to achieve the second.

     

     

    A few seasons ago we were t/o over £70m, weren’t we? We needed to build on that. Instead we have gone backwards.

     

     

    We need to be a third tier UCL Club, qualifying most seasons and European Football after Christmas most years.

     

     

    That is eminently achievable and in the modern football economic terms is a must – seriously, failure is not an option.

     

     

    The good news is I think we’ve Done a lot to mitigate these failures. And we have the people in place to make this work – it will be interesting in the next three months, we’ll know if we’ve made genuine progress or kidding ourselves on again.

     

     

    Hail Hail

  18. Gerryfaethebrig,

     

     

    I give the reasons why Lawwell “sacked” Lenny. I don’t pass judgement. I would however support Lawwell on Lennys lack of involvement and interest in the youth set up from my contacts at Lennoxtown and from St NInians set-up under the guidance of Paul McLaughlin.

     

     

    I know being a little bit critical of an under performing Celtic is sacrilege to you….however if you want to be an apologist for mediocrity be my guest. Ask yourself why teams like Maribor and Malmo with quarter of the resources / budget put us out. The CEO / DOF has spread the budget on 24 players of who only 2 or 3 make the grade, some so so and the rest shirt fillers.

     

     

    The downsizing continues unabated. It will soon reach a stage that Lawwells bonus is under threat and he has to turn off power to the heated driveway.

  19. WITS,

     

     

    yep I thought he was brilliant and looked great.

     

     

    Scattered when they finished and heard…next the economy…

  20. Careful With That Tax, Moonbeams on

    RD, like the majority of our signings in the last few years, have been projects ..

     

     

    The odd one or two have came to fruition .. Been sold onto the land of milk and honey ..

     

     

    9 out of ten have slipped through the net, loaned out, forgot about .. Just because it’s a managerial role .. Doesn’t make Ronny a good signing.

     

     

    He’s just a cogg in our failIng strategy ..

     

     

    Sevco are up next year though ..

     

     

    :)

  21. Celticrollercoaster supporting Shay,our bhoy wonder along the way on

    THE EXILED TIM on 11TH SEPTEMBER 2015 9:05 PM

     

    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.

     

     

    ———–

     

     

    Evening TET

     

     

    We had £11.7m in the bank and a long term loan of £7m ( repayable or renegotiated in 2019) at 31 May 2015. This is disclosed as net cash of £4.7m in the headline figures. At 31 May 2014, the loan was £10m, and Celtic chose to use £3m of cash to reduce the loan quicker than the agreed repayment terms.

     

     

    HH

     

     

    CRC

  22. Next years figures will show an improvement despite no CL. For one thing ST prices went up. I think sales might be slightly up too.

  23. Weeminger what a crock. What an absolute crock. All cos you want to prop up a corrupt and failed regime.

     

     

    Ah well each to their own.

     

     

    Celtic last year paid of the football manage,met team for 4m. And yet it was portrayed that they all left of their,own volition.

     

     

    It’s bullshit. Total unadulterated bullshit.

     

     

    But keep,the excuses coming…….

  24. Careful With That Tax, Moonbeams on

    What does improvements in the clubs books mean ..

     

     

    We gonna see it on the park .. Because we made a wee profit ?

     

     

    FFS!

     

     

    Improve what ?

  25. Cloghercelt: Thanks for signalling Christy Dignam on the Late Late Show. Christy is very much a working class hero and my favourite memory of him is coming back to Dublin after a visit to Celtic with fifty new Tims on our ‘Celtic Tour’ bus and as we exited the M50 this is the tune we sang to:

     

     

    http://youtu.be/QHeiVDSdoCM

     

     

    DD: I’ll definitely be over before Christmas.

  26. Latchford

     

     

    I blame the players, in my opinion in the last two seasons we have have had better players than Maribor, Legia & Malmo, probably with a far bigger budget, so is the answer just to spend more money, the players cost us in Malmo, but like you typed, I am more interested in our next game and not games that the players can’t do anything about now, apologies for my gripe, but I thought it was a wee dig at Neil, there are enough people willing to have a go at a very good Celtic man without us on Cqn paraphrasing them

  27. think tomorrow will be a tough game … but, for some reason, I am expecting some decent football… aberedeen look like they have a few goals in them, and I’m still not sure about our defence yet…. but think we will score a few tomorrow … either 1-3 or 2-3 is my prediction

  28. Celticrollercoaster supporting Shay,our bhoy wonder along the way on

    Clogher Celt

     

     

    Got your email and the answer is yes assuming we have some left :-)

     

     

    HH

     

     

    CRC

  29. Neganon – I’m surprised NL went along with it then.

     

     

    I don’t actually have a strong feeling about it.

     

     

    You were the one that suggested the only possible reason for the payment was sacking.

     

     

    All I’ve done is proposed a couple of other options. Which involve less grief and would at least explain why all parties seem quite content about it.

  30. LATCHFORD @ 9:13 PM,

     

     

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

     

     

    That’s something that always intrigued me about Lenny’s tenure – When he was in charge of the youths he was always on at Tony Mowbray to give the bhoys a chance, when he was promoted to Manager, even though he must have known the Lhads well, seemed to show little interest in the progress.

     

     

    I know Manager of Celtic is a full on, sort of a role, but even still…

     

     

    Hail Hail

  31. CRC

     

    Thanks for that.

     

    Personally I would rather we paid decent wages for a few old heads than have money in the bank.

     

    The chance of CL riches is a better gamble than the poxy interest they will get from the bank.

     

    It would aslo help bring some of the support back if they were treated to quality players, and I don’t mean buying them, they can be got for free, we just have to weigh in with a decent wage for them.

     

    We are supposed to be a football club after all, but alas, the PLC comes first.

     

    HH