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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Arms, face, legs and toes…
B-)
billy bhoy 05
17:57 on 7 February, 2014
Tonydonnelly67
Seen your chess posting. The Brazen must be a right intellectual type pub
————————-
It is the paragon of supporters for Celtic of Glasgow ;)
thomthethim
Superb response from Peter Lawell – Hail Hail
Celtic chief executive Peter Lawwell delivered a withering response to Ally McCoist’s comments on the selection of the Scottish League Cup final venue when he declared his club’s stadium “the biggest and the best”.
On Thursday, McCoist claimed he could have bet money on Ibrox losing out to Celtic Park after Parkhead was chosen as the location for the March 16 clash between Aberdeen and Inverness.
Responding to McCoist’s comments on Celtic Park being chosen, Lawwell said: “It’s the pre-eminent stadium in Scotland, it’s the biggest and the best.
“So if you want to have a bet on the biggest and the best, then you will always win.”
With Hampden being redeveloped for the Commonwealth Games, Scottish Professional Football League chief executive Neil Doncaster announced on Wednesday that 60,000-seater Celtic Park would host the final.
Ibrox, with a 50,000 capacity, was the only other stadium in the running.
McCoist said: ”I did say to the chief executive that if we were allowed to bet, which of course we’re not, get a few quid on the cup final not being at Ibrox.
”I think obviously Neil, or indeed whoever is running the SPFL, made the decision and they’ll stick by it.”
McCoist also cast aspersions on Doncaster’s rationale that Ibrox would not be ready for another televised encounter 24 hours after Rangers host Dunfermline in a game that could decide the League One title. Celtic are at Kilmarnock on March 15.
McCoist said: ”I’ve worked with television long enough that I know these boys are unbelievable at their job in terms of de-rigging and setting up for games.
“Come on. That doesn’t wash with me at all and I don’t think it washes with you either.”
Kojo
Wee bit too early to judge the Fridge
Having watched his first game I was impressed by his size
He is humongous
What a out John Herron scoring 2 and setting up the Fridges goal against Thistle?
iPhone is not easy for fat fingered fogies
tonydonnelly67
Whit!! Even the sans that went tae Uni???
Surely no Big John!
Sevco sent a message to SSB saying Phill’s a liar, ohhhhhhhhhhhhh
Can we not now afford to purchase Mordor, dismantle it brick by brick, landfill the founds and leave it as a place shopping trolleys go to die, tramps to ablute, and stray dugs to breed?
Just a thought. A comforting one.
“the best place to back the bhoys is at paradise” loving that advert on Clyde ….Wallace has just announced that PMG is talking rubbish …..hahahahahaha we will see ….fantastic Huntertainment ………braw
starry plough is neil lennon
18:21 on 7 February, 2014
tonydonnelly67
Whit!! Even the sans that went tae Uni???
Surely no Big John!
_________________________
I’m sure you know what you are posting and you know what it’s about, but honestly mate I haven’t a clue what your on about?
Phil latest.
Big day at Ibrox
27 Replies
Graham Wallace wasn’t at his desk yesterday for the second day in a row.
I understand that a meeting has been set up for tonight at the Dunfermline game at Ibrox to break the impasse.
However, an insider told me that “he isn’t going to turn up and just go back to how it was”.
I believe that if Graham Wallace does get behind his desk again then it will be to plan for administration.
Sources tell me that Laxeys are pushing for a controlled insolvency and that the Easdales have come around to their way of thinking on that matter.
This week the media people in the Big House have been ducking questions on VAT.
Today is when the payments are due for the last quarter.
I understand that if this quarter of VAT is not paid up then it might not be the only tranche of VAT monies outstanding down Ibrox way.
If my sources are incorrect then I am sure that a firm denial will be issued and, perhaps even read out on Radio Clyde.
What is not in dispute is that the Ibrox outfit is bleeding money at a rate that is unsustainable.
Part of the problem is that contracts were apparently set up when Craig Mather was CEO that are ruinously expensive to the company and can only be broken by an Administration or Liquidation.
I am told that there are some questions marks over the replacement of catering equipment and some maintenance work doesn’t seem to have been carried out adequately if at all.
Moreover there seems to have been some very generous payments made up front before the work was even done.
I am sure that there are perfectly reasonable explanations for all of these apparent anomalies in the books.
However, at this stage there is very little money left and I understand that some directors have been forced to provide some liquidity on an ad hoc basis just to keep the lights on.
There is a rich vein of stories there for any journalist in Glasgow who wants to go after this stuff that is clearly in the public interest.
I am told that The People do not think that anything is amiss at the stadium that John Brown played for.
They are wrong.
Ordinarily I would feel sorry for them as they’ve been lied to and ripped off so many times, but given that they have a nice line in genocide humour then I’ll pass on that one.
If they think a famine is funny then they deserve all the anguish and humiliation that awaits them.
However real people not The People will suffer in what is to come at Ibrox and Murray Park and I do feel for them.
A country run by the chaps from the Bullingdon club is an unforgiving place for those thrown out of work.
Moreover they will find themselves on the dole queue because a man in the châteaux in Normandy and his shadowy backers decided to enrich themselves with no thought for the wreckage that would be left behind in Glasgow.
I realise from emails and messages that my reportage this week has provided something of a welcome service to the denizens of Planet Fitba.
However, I could see all of this far enough and I just wish that sports journalists in Glasgow would, finally, start to cover this story instead of obediently queuing for a press release.
Now dear reader I am off down the Rocky Road and Wexford is my final destination.
The Sinn Féin Ard Fheis beckons and I will probably be back to this omnishambles on Tuesday or Wednesday.
I suspect that by then major decisions or non-decisions will have been taken that will have long term consequences for the Ibrox brand.
Joe Filippi’s Haircut.
Hiya, Pally?
Nice tae greet ye.
So , Ye dinnae think that Sammi, Wull.. Sign a new Contract wi us?
Actually.. Ah Am a wee ambivalent aboot Sammi, Signin a Noo Contract wi us.
Ah really, want tae agree wi You ,in whit ye hiv said…
As ,As,(A Twoser!) Ah hiv no time, at awe, fur Sammi.. Ah would rather that he Didnae sign a new contract..wi us..
But..
Ah , wull haud ma Nose.. and say that Ah believe that he wull..
Because.
well. because..
Sammi, knows darn well.. that He widnae Last Too Long wi anither Club..
Naebuddy, but Celtic, wid pit up wi his Inconsistency fur too Long.
Na.. Ah believe Sammi,much as Ah hate tae say, this…
Ah believe that he..
Wull Stey.
Nice Chattin’,pal
Kojo
Still , Laughin’
Does the term fridge come from the the big bloke that played in the American football league? … The padded up ones that is.
Sipsini – William “The Fridge” Perry was a Chicago Bears defensive tackle in the 80s and 90s and was 6’2″ and 24 stone so our ‘fridge’ has a ways to go !!!
Kitalba 12.49
Previous thread .
I am not a legal expert , but one of my very best friends is a solicitor who specializes in conveyancing.
I will endeavour to get his expert opinion.
He is however a very busy man , and may not give a fluke(:-)
TT
tonydonnelly67
Just pulling yer tail Tony, I got the impression yer no keen on Uni folk, maybe I picked you up wrong..
Celtic open to all even the Uni folk was my point…
‘Never believe anything until it has been officially denied.’
Claud Cockburn
ernie lynch
Counter statements coming out of the Fun Palace now!
Rangers have hit back at claims from an Ireland-based journalist speculating about the club’s business affairs.
Freelance blogger Phil Mac Giolla Bhain has taken to Twitter several times over the last few days to make allegations about a fresh crisis brewing at Ibrox.
But chief executive Graham Wallace took the unusual step of issuing a statement to the media and on the club’s official website to refute the “ill-informed and inaccurate” claims.
The statement, signed by Wallace, said: “The club has received many calls in recent days from fans, shareholders and other interested parties with regard to the contents of an Irish-based internet blog which has published numerous allegations about the business affairs of Rangers Football Club.
“The club wishes to make clear that these allegations are totally inaccurate and that the chief executive and board of directors are fully focussed on the restructuring and rebuilding of Rangers Football Club as previously announced.
“The club has decided to make this statement as unchallenged, ill-informed and inaccurate comments are damaging to the reputation of Rangers Football Club.”
I imagine Tonydonnely67 sitting at the bar in the Brazenhead on his lap top with his pint and his hauf sitting beside him while he feverishly types away about all things Celtic. H.H.
starry plough is neil lennon
18:29 on 7 February, 2014
tonydonnelly67
Just pulling yer tail Tony, I got the impression yer no keen on Uni folk, maybe I picked you up wrong..
Celtic open to all even the Uni folk was my point…
—-__________________________
Awe right, lol, I see, naaaaaa, I just like winding them up, they love debating, I love winding them up ;)
Steinreignedsupreme
18:35 on 7 February, 2014
Have they confirmed they’ve paid their VAT?
ernie lynch
Why would you make an official press release if the claims
were baseless?
I’ve just discovered this lot
http://www.youtube.com/watch?v=6drfp_3823I
lovely maudlin music, sort of I’ve drunk nearly half a bottle of whiskey type a music
anyway , the song is called strong which fits this week – lenny is assaulted and abused for where he grew up and turns and breaks a record and makes a record in the most challenging of times for the spl and celtic
Hun lurkers, if there are any out there, EU,I mean this in a matter of fact way, you are fu^%ed ! You are not fu^%ed because of PL, cellic, lennie, or the spl. You are fu&^ed because of the markets. Nothing can beat the markets, not hitler, stalin or the incompetent greed of the posh bankers can beat the markets. YOU ARE HISTORY, face it.
How come that Mosni is playing for thems tonight when he got sent of last week?
They wanted an FFin’ statement:
“We need a statement from our CEO to refute these claims being made and now repeated in the Scotsman.
Things are too quiet on that front we need to know, what currently is being done…
he needs to put a spoke on the mudrakers stories quickly or else.”
——
“The club have to make a statement and soon to shut these rabid taigs up”
——
“If they aren’t true then why no legal threat or action from the club…something doesn’t add up here.
Someone else asked yesterday if there was no truth in it then why hasn’t the blog been removed on the orders of Rangers legal team.”
——
The statement duly appears but it’s not FFin’ good enough:
“Take him to court and bankrupt him and make him lose his house.”
——
“C’mon Easdale, do one thing right and get that B*st*rds legs broken.”
And the Radio Clyde problem is easily solved:
“If people want to listen to clyde, then all it needs is for ONE person to record it or download it on play it again and upload to 4share or some other site where fans can download, then clyde have only one person listening to them.”
Nice.
Wimbledon csc have been invited to the sky sports studios to attend the recording of an interview with Stan petrov.
Should be good viewing when it is broadcast.
Hh
tonydonnelly67
I wouldn’t have wound you up had I known ye were so slow on the uptake!!
CheekyTims CSC
GG
at 1819
Hiya,pally?
Great tae Greet n Meet.
Sure, Ah know that Ah am jumpin’ the Firearm.. Slightly, in Whit Ah hiv written aboot the Noo Kid..
But..well..
Ye canny deny that It is a Heap mair Bettah tae see that a new Striker, kin
Bulge the Net,against oor Opponents….Twice,in successive games..
Than.. well.. A New Striker..
NO … Bulgin’ oor Opponent’s Net . At awe..inTwo Successive Games?
Right?
That is whit wan may call.. irrefutable Logic.. Right?
Well.. tae Ma wey o thinkin.. It Is!
Young Herron,hid a Great Game.. Ah like Him Aloater.
He Baked the Pie.. But… The Big Laddie..wiz the Man who Ate It.
An It disnae matter how many Pies that ye make..
If thur ur Naebuddy there ,who wull eat wan of THEM..
N Awe ye hard work wull go fur Nowt..n ye wull end up wi a Shoapfu..
O.. Stale . Uneaten Pies
Right?
NIce Chattin’ ,Palomine.
Kojo
Still,Laughin’
A bit OT, but hope this may go towards keeping CQNR’s healthy:……..
Extremely valuable information READ!!!
Heart Attack and Water
Good information to try.
How many folks do you know who say they don’t want to drink anything before going to bed because they’ll have to get up during the night!!
Heart Attack and Water – I never knew all of this ! Interesting…….
Something else I didn’t know … I asked my Doctor why do people need to urinate so much at night time. Answer from my Cardiac Doctor –
Gravity holds water in the lower part of your body when you are upright (legs swell). When you lie down and the lower body (legs and etc) seeks level with the kidneys, it is then that the kidneys remove the water because it is easier. This then ties in with the last statement!
I knew you need your minimum water to help flush the toxins out of your body, but this was news to me.
Correct time to drink water… Very Important. From A Cardiac Specialist!
Drinking water at a certain time maximizes its effectiveness on the body: 2 glasses of water after waking up – helps activate internal organs ; 1 glass of water 30 minutes before a meal – helps digestion ;1 glass of water before taking a bath – helps lower blood pressure ; 1 glass of water before going to bed – avoids stroke or heart attack
I can also add to this… My Physician told me that
water at bed time will also help prevent night time leg cramps.
Your leg muscles are seeking hydration when they cramp and wake you up with a Charlie Horse.
ernie lynch 18:40 on 7 February, 2014
“Have they confirmed they’ve paid their VAT?”
Ssshhh. Don’t mention VAT.
Monaghan1900 18:40 on 7 February, 2014
I wonder which one of them invented the internet?
Tonydonnelly67. He is banned for two league matches tonights game is a cup tie so he can play. H.H.
Very impressed with our manager on the BBC there. Telling it as it is. Good mhan. I hope you are our manager for years to come.
weeman67
Did you cut and paste that stupidity?
Parkheadcumsalford
Hear Hear.
starry plough is neil lennon
18:41 on 7 February, 2014
tonydonnelly67
I wouldn’t have wound you up had I known ye were so slow on the uptake!!
CheekyTims CSC
______________________
You keep in that frame of mind, and I’ll be ahead in the game ;)
Geordie I may have said don’t paint fergus as perfect but I didn’t say Paul had. You dimly assumed that.
Tonydonnely your dislike of anything intelligent reminds m of the Huns. Are your proud of your profound ignorance. Is tonydonnely really the future of CQN and the celtic support? Is that what we aspire to. Is that it? Really?
I laughed at the interim accounts. Another bizarre exceptional expense! Wow who would have thunk it. Also dire dire warnings and a manufactured net bank debt concept. Of course most transfer money is still to come. A lot of bull about investing in the playing staff while doing the opposite.
I also laughed at sandman praising Paul for his quick analysis. Sandman Paul’s response was prepared alongside the accounts. Don’t you get that even now?