Celtic’s revenue for the interim six months to 31 December 2013 fell 11% to £44.8m (2012: £50.1m), while operational expenses also fell, by 7%, to £34.3m. The club had £5.7m cash in the bank, £5.6m more than a year earlier.
A few factors behind the figures:
We played fewer home games, 16 as opposed to 19 the previous season, and although you may pay your season ticket up front, the club only recognises the income when games are played (cash at bank is recognised as soon as your payment lands).
Profit was up to an incredible £21.3m, from £14.9m), largely as a consequence of the sale of Victor Wanyama, Gary Hooper and Kelvin Wilson last summer. Without wanting to go into the who ‘A word’ (it’s not 2004), money coming in from player sales goes straight to profit whereas money going out on player purchases hits profit gradually over the period of the player’s contract.
Investment in players was almost identical to the previous year, £5.0m from a 2012 figure of £4.7m.
Financially these are great figures but there are potential weaknesses lurking. The club are absolutely dependent on reaching the Champions League group stages more seasons than not. This brings significant revenue – and supports whatever player valuations the club will be able to achieve should they sell. It also acts as the most effective tool to attract talent to Scottish football.
Finishing fourth in the Champions League, not second, is the most significant factor in the interim drop, but it will have a more significant impact on the second part of the season, which will be without a knock out stage round.
Celtic are still repointing the club away from the arms face they fought with a lemming club but they have delivered the key on-field objectives, which in itself takes care of the finances.
If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
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Kitalba.
The paper on the title deed is only part of the title sheet.
You would need the full sheet to see the area covered and who the owners were.
TT
UTLR
Auldheid
Didn’t get it. Try hamiltontim@hotmail.co.uk
Madmitch…..
Lawell is involved in his own personal race to the bottom to meet Sevco on their journey to the top.
Celtic Plc are being run by placemen taking orders in only doing enough to get by.
The accounts are smoke and mirrors and creative to say the least.
Deadclub should have been buried when WGS was in charge…..correct!!
kitalba
00:34 on
8 February, 2014
We`re all on the same side.
We all want the best for Celtic.
I would be betraying my genetic make-up (:-) if I didn`t express those concerns.
Nothing wrong with anyone wanting a seat on the Board.Just tell us.The Board are regularly criticised for their lack of openness.Double standard?
You say: “With that in my mind I would respectfully decline any invitation to join the board.”
Ay,that`ll be shinin`,mate.You`d be along there like a shot.Three piece suit,half jack skilfully secreted in the inside pocket.Copy of the Rules of Engagement.
Re.T.B.B.`s post. I completely agree with that and said so.
Persuasion not confrontation.
We`re all on the same side.We don`t need division.
Hamiltontim is praying for Oscar
00:46 on
8 February, 2014
Macjay
I have no desire to fall out and I certainly don’t have all the answers, however, I do get the impression that you’re asking questions without really wanting answers.
Maybe ask Jeanette.:-)
GG
I agree, having watched it on streams for long enough.
We are in the sticks here, trust me on that, the internet is a new fangled thing here, Telefonica, the BT of Spain have lines running past my place, and they can’t connect as they have no space in their hoose in the village, so have to go with a sat mob, it’s no cheap, they give us very little broadband width, but try to compensate with mega free calls to the world, I have free calls coming out my ears, can’t use them, 500 mins a month to the world, same to britland, same to Spain, and 150 mins a month to Spanish mobiles, that ain’t too bad, would rather have more broadband, but it;s not in the contract, so they won’t, or can’t.
Anyways, looking forward to seeing if I can stream a decent game the morra, if I can, as I said, I will get CTV, till now, it’s not been worth it re the interweb speed.
HH
gordybhoy64
00:07 on 8 February, 2014
——————————-
I’m sorry for the late response chief.
Just think that Scotland now has a unique opportunity to make a new start mate.
Obviously wouldn’t wish to infringe on the civil liberties of the population.
Cigarettes and alcohol are a curse, no two ways about it – but it says what it does on the tin, eg smoking kills, alcohol can seriously damage your health.
The bookies are dishonest, they lie and cheat.
Shouldn’t even call them bookies, they are a disgrace.
Investigating this, that and the other, eh?
Somebody should investigate the so-called bookies.
Scotland now has the potential to be a modern day utopia.
HH.
eddieinkirkmichael
If you’re still up, Peace be with you Fhriend.
As a father I’ll confess I couldn’t handle that.
Take care – KTF.
Jamesgang
Good night Timdom.
Mind and be good to one another. There’s enough out there with fell intent for us.
Nae moonhowling bickering please.
HH jamesgang
Kitalba
00.34
Any idea when TBB posted. I’ve been given the matter some thought myself and always happy to read other’s thoughts.
On a supporter on the Board I have copied over Res 10 from the CST site so that anyone reading gets a look at the full picture and intent.
I think the SLO appointment mentioned will make a difference and I think Paul will blog on it at some point so I don’t want to say too much now.
Here is Resolution 10. Interestingly Celtic focussed on the communication aspect and not on the key objective, which they have done in the past, as a reason for voting against. My view is that it makes sense to give supporters a voice to the Board other than the more adversarial AGM route but that does not mean the voice has to be a person. It will be the quality, relevance and consideration given to any message voiced that counts, the song not the singer if you like.
RESOLUTION 10: Corporate Governance Working Party
Resolution 10 has been requisitioned by certain members under the provisions of Section 338 of the Companies Act 2006. The resolution is not
proposed by the directors.
The following statement is circulated on behalf of those members in accordance with Section 314 of the Companies Act 2006:
“The Celtic Trust
The Celtic Trust is a not-for-profit membership organisation, formally constituted as an Industrial & Provident Society, that has been formed as a vehicle to mobilise the voting power of the many thousands of small shareholders of Celtic Plc. Over the last 12 years through a series of quarterly meetings with Celtic’s Chief Executive, the Trust has had a constructive dialogue with Celtic Plc on issues of concern. However a key objective of theTrust remains to give supporters a formal voice at Board level in the future development of Celtic Football Club. In the absence of such
representation, we welcome the announcement that Celtic Plc, in compliance with UEFA club licensing regulations, has appointed a Supporter Liaison
Officer, Mr John Paul Taylor.
We welcome John Paul to the new post and we look forward to a much improved line of communication between the PLC and the Celtic supporters. In line with the position of the Celtic Trust since its inception, we continue to request a greater and more productive two-way exchange of views between the PLC and the supporters and we hope that this appointment will go some way towards this.
However, we do not see this as a substitute for direct supporter involvement in key decisions of the PLC; nor do we wish to see the downgrading of longstanding (albeit inadequate) lines of communication between the Chief Executive and the various supporters’ organisations.
We ask you to support this resolution and the written statement above circulated to shareholders in advance of the meeting, in the interests of a
stronger Celtic.”
Board Response
The Board continues to believe that Celtic consults and communicates more extensively and more effectively with its supporter base than almost any
other football club. This is conducted in a wide variety of ways and across a number of organisations including supporters’ clubs, associations and shareholder groups, and is not restricted to one particular forum or topic.
104905 AGM Notice Final 041013.pdf October 6, 2013 17:49:00 Page_5
Regular meetings and conversations take place throughout the year not only with the Chief Executive but also with other senior representatives of the
organisation in response to a variety of issues, requests or projects as these come up.
Due to the size of the organisation and range of activities
conducted, individual enquiries, requests and complaints are also dealt with on a departmental basis with nominated points of contact.
The appointment of the Supporter Liaison Officer, who reports to the Chief Executive, augments this process. The Supporter Liaison Officer will work
to ensure that issues are addressed by the most appropriate club representative.
Celtic complies with requirements imposed by the Scottish FA as part of the Club Licensing process, which take account of UEFA regulations, and
received a club licensing approval at “Gold” standard again in 2013.
The Board considers that the existing approach works well and is sufficiently flexible to enable consultation and communication to take place in a
sensible, constructive and effective manner that responds not only to issues as they arise but also in the longer term. The Supporter Liaison Officer
will continue to work with our supporters, clubs and associations and to develop that role. The Company’s approach to corporate governance is fully
disclosed in the 2013 Annual Report.
In the circumstances the Board considers the resolution to be unnecessary and recommends that you vote against it.
Lads.
Thanks for the chat.Off now.
Big game coming up.I suspect it will be our hardest for the remainder of the season with the added barb of the treatment meted out to Lenny fresh in our minds.
And former Tims desperate to make a point.
Lots to look forward to.
We`re on the one road.
Bedtime reading for Peter Lawell?……
THE LAW OF DIMINISHING RETURNS:
In economics, diminishing returns (also called diminishing marginal returns) is the decrease in the marginal (per-unit) output of a production process as the amount of a single factor of production is increased, while the amounts of all other factors of production stay constant.
The law of diminishing returns (also law of diminishing marginal returns or law of increasing relative cost) states that in all productive processes, adding more of one factor of production, while holding all others constant (“ceteris paribus”), will at some point yield lower per-unit returns.[1] The law of diminishing returns does not imply that adding more of a factor will decrease the total production, a condition known as negative returns, though in fact this is common.
For example, the use of fertilizer improves crop production on farms and in gardens; but at some point, adding more and more fertilizer improves the yield less per unit of fertilizer, and excessive quantities can even reduce the yield. A common sort of example is adding more workers to a job, such as assembling a car on a factory floor. At some point, adding more workers causes problems such as workers getting in each other’s way or frequently finding themselves waiting for access to a part. In all of these processes, producing one more unit of output per unit of time will eventually cost increasingly more, due to inputs being used less and less effectively.
The law of diminishing returns is a fundamental principle of economics.[1] It plays a central role in production theory.
Macjay
I suggest you do just that :-)
Night all and God Bless.
Kitalba @ 00:34
Good points in defence of Jeanette Findlay (who I’m grateful we all have as a fellow Celtic Supporter).
I don’t appreciate the attempts to demonize her on this blog, not least from Ubertim Tonydonnelly67. The thought of having her replaced by the like of that should send shivers down the spine of any sensible Celtic Supporter.
I also think it’s worth pointing out there are many who have a great deal of respect for what she does, but keep their lips sealed here, while there exists quite blatant muppetry defending and promoting every fart that comes out of PL’s arse, good or bad.
TET
So the satellites are finally realigning.? That bit rate should let you watch streamed movies too.
If you register with one of them spoof sites that tricks BBCI player/Love Film/Netflix into thinking you are in the UK, there are lots of stuff on there to watch.
The Celtic TV is brill and I miss it, but still use the audio if I cannot manage a game or its too friggin cold/wet.
Work is the key, I think.
You give the young generation the opportunity to earn a decent wage and the country shall prosper.
Nobody wants to be unemployed or on the DLA, even though some people cannot physically work.
Scotland has the potential to be a brilliant, stand alone country.
Nature,wildlife, whiskey, natural resources, the sea, eagles.
Powerful place, potentially.
Goodnight and god bless all Tims.
macjay1 for Neil Lennon
00:43 on 8 February, 2014
Hamiltontim is praying for Oscar
00:35 on
8 February, 2014
Macjay
With respect you really don’t know what you’re talking about with regards to JF and the Celtic Trust. I suppose that explains all your questions.
————————————————————————————————–
But it doesn`t explain why you fail to answer them.
I have genuine concerns about the divisive nature of the Celtic trust.That`s all.
I completely understand that you don`t.
—-
Macjay,
I know you don’t like division, and from our chats over the years I respect your thoughts on politics, even though I disagree with a lot of it.
However, if you are going to accuse the Celtic Trust of division, should you not have the same concerns about the Celtic Board? Whose primary objective is to increase share value and make money?
The role of the Celtic Trust is to counter-act the Celtic Board in this respect, and as such, they represent the general Celtic supporter over the share-holder.
Both should be respected.
But where my respect breaks down is with regards to the current board and the issues of the last few years, which I’m sure you know about. So I’m grateful that the CT are there to take these issues to the board members and ask for an explanation.
I can’t see why the CT should be criticised for this? (to avoid circular arguments, whether or not someone wants a seat on the board is not an issue…)
macjay:
with your last post to me in mind, you should take a wee trip back to your post of 25 past the witching hour and read your last five lines.
Audlheid:
If you give me five minutes I’ll go grab it for you.
Hamiltontim is praying for Oscar
00:55 on
8 February, 2014
Done. I think I used .com before
FFM:
I’ve not always agreed with everything she has said, I admit I was openly suspicious of her a few years ago. I still don’t agree with all that she has to say but I am no longer suspicious of her and apologies for harbouring any in the first place.
Look at what Joe O’Rourke of the CSA has just called for; if Jeanette had done likewise there’d be a few strokes and cardio meltdowns on here.
Auldheid:
The Battered Bunnet
10:44 on
7 February, 2014
Warning… stream of consciousness type er…stream
Interesting debate last night around the appropriateness of a plc structure, Fergus’ exit and related matters.
One of the positives from a plc structure is the transparent governance that it forces down on the club, something that would be (and indeed was) entirely absent in a private company.
Another is the ability of fans to participate meaningfully in the running of the club by holding directors to account. Celtic fans as a collective may not have the voting rights to determine decision making, but as the Res 12 boys have shown, using the plc rule book is a valid and effective aid to accountability. It’s taken 20 years to figure it out, but right enough, there’s a book, it’s full of rules, and shareholders are able to use it to good ends.
Lots of talk in recent days about a forum or collective platform to facilitate Celtic fans to engage with the board, but I will note three points:
1) The Celtic support is not a united entity. Beyond our support for the club, our views on any and all issues are disparate. Despite a host of Supporters’ Clubs, local and national Associations, the Trust, ad hoc groups, singing sections and heck, even gazeboeans, each group has differences with the next, the individual members of each group have differences between them, the vast majority of fans are members of no group at all, and consensus is impossible to determine. Whether songs, football ambition, finance, catering, left backs or what have you. We can’t even have a clouds debate without precipitating an argument. In short, attempts to establish a forum that represents the rainbow of opinion in the Celtic support is futile beyond that it already exists in the support as a whole.
2) Celtic is open. The directors and management are not locked away, they are accessible to supporters and welcoming (mostly) of ideas and challenges. Go for it.
3) Use the AGM. Attend. Speak. Ask your question. Make your point.
It’s worthwhile noting that the plc model is the most flexible in terms of adapting to financial and business aspects. When new capital is required, it can be obtained efficiently. Say for example a European regional league was established, Celtic plc would be able to fund the necessary investment via sale of new shares. In this and many other examples, the plc model works well.
Where the plc model presents a risk is in the relatively easy manner in which ‘rogues’ or day I say ‘spivs’ can obtain a controlling share. A number of football clubs have regretted their exposure to this risk, perhaps Man Utd being the next. While we have been rather lucky that Dermot Desmond is essentially a benign influence, that may not be the case when Dermot inevitably goes. Anyone fancy a hedge fund or private equity firm with a controlling interest? Major risk.
For Celtic, we ought to consider the feasibility of placing a cap on the number of shares an individual can hold, let’s say 10%. In this way, no individual can exert effective control, and decision making is necessarily more consensual, or democratic if you like. While a plc model is by no means a panacea for the many challenges facing a football club, it does have some advantages for clubs of sufficient stature, and adapting the model to better suit our circumstances and values is a more achievable objective than any other I’ve seen to date.
Steaming stream…
Kitalba,
You’re always honest. The way we all should be.
I’ve not seen anything I dislike in her – what I see is a fine politician dedicating her time to the underdogs of Scottish society.
That wins my trust right away.
Not to compare the two, but it makes me think of George Galloway.
I don’t understand why he gets dogs abuse and dismissed by some as if they know him personally, when all I see and hear is someone not only of very high intellect with a very good sense of truth and justice, but also who has the ability to vocalise these passionate thoughts in debate, with little failure.
People like this who represent us should be embraced, as should the outstanding JF.
kitalba
01:17 on
8 February, 2014
I was just having a laugh with you,Kit.
Hope you weren`t offended.
kitalba
01:23 on
8 February, 2014
Many thanks. One of the wider objectives of Res 12 was to make the point about how to go about making a point.
It was mentioned on CQN quite often before canalamar took up the challenge.
Whilst TBB is spot on about the disparity in views I think there are a number of steps that can be taken that to reduce the difference of opinion gap and the heat those differences generate.
One of them occurred to me at the OM on Wednesday listening to folk.
It will probably be buried by morning but it is a bit different so here it is.
A Guide to Serene Communication (based on The Serenity Prayer)
—————————-
God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and the wisdom to know the difference.
*********************
Let us distinguish between the things that are in Celtic’s sole power to fix
From
Those that require co-operation with others outside the Celtic family to fix.
Let us distinguish between what cannot be fixed because of non cooperation by those outside the Celtic family
From
What requires campaigning to fix.
Let us distinguish between what Celtic are able to campaign about
From
What they are unwilling or unable to get involved in
And
Engage in dialogue on as to why
And either
Agree to disagree
Or
Reach agreement on who should be party to
And
Who should take the lead in any campaign for change.
AND
Give us the wisdom and understanding to know the difference.
When
FFM – I’m the only conspiracy theorist in the village)
01:17 on
8 February, 2014
Now,that`s a good argument.
Nevertheless,you say:
“The role of the Celtic Trust is to counter-act the Celtic Board in this respect, and as such, they represent the general Celtic supporter over the share-holder.”
How do you know that?Their political views most certainly do not represent mine.Presumably you would support another group who would represent my political views.
That would surely be fair.
Anyway,pal.I really have to go and get on with my capitalistic endeavours.
Just joking:-)
Auldheid,
Wise words as always.
I still find myself stuck in the third line:
“God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and the wisdom to know the difference.”
The most important line, but the one that fewest of us rise to….. :(
macjay
Offended, honestly mate, you, personally, would have to get up very early in the morning and try very hard to offend me. As you know we don’t always agree, that is not a bummer, actually, truth be known, the opposite is closer to the truth; our differences are grand.
What you jested in your post about me was not my point, my point was the last five lines you wrote at 00.25.
Often on here people cast aspersions by innuendos proxy, I read the end of that post as such.
Auldheid:
God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and the wisdom to know the difference.
and please God
when faced with evil, big evil,
an oppressive perpetual evil
bestow me the courage of my convictions
and the hearts courage to act
rather then put out the light
pull up the covers over my head
and hope and pray that come morning
somebody else had the courage to slay the evils
lest I get hurt
whilst in cowardice I don’t care about the safety of the brave
if you open your eyes there be dragons
if you close them, no matter for how long
the dragons will be waiting for you to open them
only when you do
they’ll be bigger and stronger and more
Celtic 3-1 Aberdeen 23 November 2013
Remarkable for a couple of reasons
Last goal conceded by Celtic defense and FF
Goal from Boerigter (sp)
http://youtu.be/tMgbzdcZDvk
Joe O’Rourke:
Fans Against Criminalisation are delighted to announce plans to release the single ‘’Roll of Honour’’ in association with The Irish Brigade for the duration of the week beginning on 8th of February. This single will be available for download on iTunes. We would like to thank the band for kindly allowing us to use their song to help aid our campaign against the criminalisation of football supporters and the suppression of political expression.
Download the Roll of Honour any time in the week 8 -15 February inclusive and let’s get it into the UK Top 40 Singles Charts and embarrass the hypocrites who seek to criminalise us.
This particular song is a ballad about civil resistance and a struggle for basic human rights and it has been a favourite of the Celtic support for over a decade. Shamefully, the SNP’s Offensive Behaviour at Football and Threatening Communications (Scotland) Act has resulted in the song becoming a target for Police Scotland and numerous arrests have been made as a result. From its outset FAC has sought to oppose this discriminatory piece of legislation and to defend the rights of football supporter’s which have been continually eroded since the Act’s introduction.
We call on the Celtic family from all corners of the globe to support this campaign by downloading the single to help raise funds to aid the legal costs of those whose lives are being torn apart by this disgracefully illiberal law and to help further publicise the hypocrisy inherent within the government’s position.
Fans Against Criminalisation
Neil’s interview on STV
http://sport.stv.tv/football/clubs/celtic/263258-neil-lennon-ive-done-nothing-to-deserve-the-abuse-i-receive/
I hope he receives a standing ovation tomorrow.
HAPPY HOOOOOOPY BIRTHDAY
to
TALLYBHOY
He disnae look 60,though I’m sure he did once…..
He is now on the lookout for a bus company which will accept his pass on routes from Northern Italy to Troon.
Via Dublin Airport for a wee swally!
Have a belter,buddy.
GG
Cheers for that.
roy croppie
12:41 on 7 February, 2014
My brother married into Tommy’s family and I get to meet him at Christenings – four and counting!
Hopingfornumber5CSC
………………………………….
Never gonna happen Big Bro.
Sickofchangingnappies.csc
HH
Restrict them, that’s what I say.
No more computer generated cartoon racing, dogs, speedway pish… PRETENDING, lying, make believe tripe.
Random my balls.
Let them continue with real life sport gambling, allow them to manipulate the odds, as they do – so that it’s virtually impossible for the punters to win.
But reel them in now, for their own greed is out of control.
They are evil, corrupt crooked criminals.
16 ROADS
All of the “virtual” racing is treated by the bookies as a form of bingo.
Random,with each numbered horse,dog,whatever,having the same chance over a cycle.
Where they make their money is on the “over-round” betting. The percentage above £100 you would have to place on each entrant to receive £100 back.
Similar to a casino with zero on the roulette wheel. Only the bookies retain much more then 2.777%
Apart from that,if your judgement is such that you relentlessly choose losers,or gamble money you cannot afford to lose,then you shouldn’t be allowed anywhere near a bookies. But if you get enjoyment and occasional financial benefit,it’s a winner.
It works for me. Though not as much as it used to!