Celtic published a decent set of interim results this afternoon for the 6 months to 31 December 2015 but chairman, Ian Bankier’s address gets down to business with, “One the park, it has been a frustrating season”.
The sale of Virgil van Dijk contributed to a £12.6m income for player trading, balanced by £6.1m spent on the acquisition of Jozo Simunovic, Scott Allan, Saidy Janko Ryan Christie and Nadir Ciftci. This brought pre-tax profit to £11.7m, with cash in the bank at £7.7m (up from £5.3m a year earlier).
Turnover was up by an inch to £31.4m as the club traded at an operating profit for the period of £1.564m (before player trading). The second half of the year is devoid of European football income, not that the Europa League is that much of a game changer.
I know financial stability isn’t an end in itself, but it’s important nonetheless.
571 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- ...
- 16
- »
Pogmathon
As I see it, the problem is two-fold: firstly, as you point out, such changes would make it difficult to bring such players in . Secondly, I thought we were buying young players with a view to developing them, and selling some on for a profit . However, that means we have to develop (improve ) them.
How many of the young players we have bought or promoted have actually improved as a result of joining Celtic?
Young TIerney … maybe the new CB (he looks promising)….
but many of the others either seem to be getting worse since they joined, (Armstrong, Ciftci who scored 20+ goals last season), but couldn’t buy a goal for us), or cant even get much playing time (e.g., Scott Allen) which cant be increasing their value.
The whole Board (cut the clothe) strategy only works if we can develop young players and sell them on (like VW, or Forster), but increasingly, RD seems unable to get much out of these young players. This means no more big sales to balance the books.
The Board and management have to be, but aren’t, working well together.
Just think how much more excited we could get over the balance sheet if we didn’t waste millions, year after year, on crap strikers!!
Just a wee heads up…STV running as their second story… IRISH TRI-COLOURS to be flying to commemorate the centenary of the Easter Uprising in north Lanarkshire.
It was mentioned on the blog last night that some polyester penny whistle players are a tad upset at this.
Might be interesting to watch.
Not flouncing Canmalar, just laid up at present & posting passes the time, When I’m back in the real world I’ll pick my moments & subjects. If I feel I can make a positive contribution to blog,I will, but I hope to avoid what I consider to be the repetitive pointless debates that often dominate.
Kitalba, It was never my intention to insult you and if you feel insulted then I most certainly do apologise,
If you are in receipt of some “inside information” which you feel you can’t confide to the blog and if this inside information is colouring your attitude, then it is impossible to debate.
Btw… The Easter uprising wasn’t in north Lanarkshire:))
Ah, the ole CQN flounce which refers to the way that frustrated CQN’rs will stand up and shout,
I am leaving! – No really, don’t try to stop me!
I am leaving. I’m done here. I’m going!
I’m never coming back!
Did you hear me?
I am done with this community!
Are you listening?
Hail Hail
Stv news up in arms at the vote to fly the tricolour in North lanarkshire .
The grand orange lodge thinks it’s silly …..
Sipsini , I read recently that there were thousands of volunteers in Scotland. Greenock alone had a 200 strong detachment of IRA members training regularly in the St Mary’s parish hall. There seems to be strong reasons to remember the Scottish contribution, a certain Edinburgh socialist for example.
sipsini
Passed by all the councillors involved, but subject to serious scrutiny by
virtue of public backlash!!!!!!!!!!!!!!!!
Sevco TV
Bsr,
More than a A bit self-defeating, that type of flounce, as the flouncee’s reason for leaving is that they feel they are being ignored.
Perhaps being ignored as they are not part of the clique.
(Lights touchpaper and retires to a safe distance)
Tbj
I think the Grand orange lodge is silly, too.
Have they developed salf awareness?
Corky,
It was tongue in cheek no a dig, like BSR’s description of the archetypal description.
mike in toronto,
The business model might be sound if we were actually developing any young players. Young Tierney is a gem but how many young players have we put out on loan only to bin them? We keep bringing in mediocre players at not unsubstantial cost to the club who we eventually give free transfers to because they are pants.
Why are we putting young Nesbitt out on loan instead of trying to develop one of Man City’s hopefuls? We should be developing him. If we are awash with (quote) far better players than the rest of the SPL teams why are we loaning out players? Surely if you are going to learn you want to learn from the best not those thought to be inferior?
It’s a load of horse shit, but as you say the Board and the management are not working well together. I couldn’t see big Jock putting up with this crap. If you are going to bring in players they have to be better than what you have – otherwise it is pointless and costly.
BSR…
Liked the blokes comment on how the oo (intentional) are allowed to walk down our streets, what’s the problem flying the TRI…had to rewind it as I thought it was Lennybhoy at first. :)
The writing has been on the wall for a long time of the former sport football.
Once the realization that tv could help bring heaps of money the game sport was over.
Let them have their franchise model as i will never give a single dime to it.
There are many forms of entertainment and football has been slowly going down the pecking order especially with the young.
We at Celtic never stood a chance of being involved due the barriers put in place by the sfa cheats and a press who have spread lies with the approval of a country who hates us.
Our custodians lay down to long in that hope that we escaped but the situation they allowed for hopeful future profits caused us to be our present predicament.
Sport is supposed to be a competition that gives everyone the opportunity to triumph.
Our greatest ever team and manager refused to accept the cheating and adversity and triumphed.
Our current custodians turned the other cheek with the expectant results.
The Grand Oranj Luj are happy with 30% of the flag, it’s the other 2/3 that’s geein them the bile.
Dharma bam
I often think they must realise how silly they look when they see their reflection in a shop window .
Silly little men in silly little costumes singing their silly little songs ….silly Billys indeed
Good evening peeps.
Flounce even
Stairheedrammy…
Spot on mate, considering they commemorate a battle that was in Ireland and bas******e our streets for months a year, it seems strange to say the least, that they would want to highlight their intolerance.
If this is turned over due to a bigoted backlash, it’s maybe time we became more vocal on cleansing our streets of the knuckledraggers.
Day 3.
“Workers of the World, Unite. You have nothing to lose but your chains!”
Who coined that phrase?
Here’s a wee clue – Bloke never done a single days work,throughout his entire miserable existence on this earth.
The ultimate parasite.
I’ll be back again tomorrow hopefully.
As we all know there is a distinct difference between an Apple and an Orange ;-)
Mike in Toronto
I am grand thanks and hope you are too.
Now, interim accounts which show improved financial results are great – it shows that someone has been doing their job really well — perhaps.
The interim accounts for Philips, or Hitachi or many other firms which showed substantial, if decreasing revenue, but increasing profits from the sale of VCR’s were no doubt lauded at the time.
But hey, guess what? The rest of the world moved on, the VCR’s continued to sell in substantial numbers at reduced prices until eventually there were no sales because the competition moved into a different league with DVD’s.
Celtic’s football model is predicated on three things:
First Season Tickets
Second – Player Sales and Profits
Third – everything else including merch and media rights.
I will be blunt, In the past four weeks I have spoken to numerous Celtic season ticket holders who are seriously on the verge of chucking it in and not renewing their season ticket. These are not radicals or malcontents. They don’t hate the board, they don’t hate Ronny, though some question his tactics and nous and they don’t want fan ownership.
However, they are seriously concerned about the nature of football in Scotland, the way it is run, the press coverage and, to be honest, Celtic’s attitude or tactics in dealing with certain elements of all of the above and the events of the last four years in particular.
They accept that Celtic will not be at the European table, have to live within their means, and will not be among the superclubs or anywhere near it.
They see the standard of player diminishing ( in all of Scotland as well as at Celtic Park ) and take the view that there just may be better things to do with several hundred pounds per year – including financing their own charity raising initiatives.
They will not stop supporting Celtic – they just might not go to the games on a regular basis anymore.
In short, for all sorts of reasons, Celtic PLC will not retain their custom because their product, management and market place are just not exciting enough other than on an occasional basis.
I think there are an awful lot of people like that and if they walk away from the season ticket then the amount of annual money available to the club will be substantially diminished.
That is a real possibility.
If that happens then there will be severe consequences including the impact on item two.
As has been already pointed out, the ability to buy in young players, or raise our own, and sell them on for substantial profit automatically diminishes if we do not have regular and substantial European Football – preferably against the top teams in European football.
The sales of Wanyama, Forster, Van Dyke and the likes at substantial money were not forged by their performances against Dundee or Hearts. Those sales were gained against a background of good European performances against noted opposition.
Lack of ambition to stay at a certain level in Europe, and the capital expenditure to ensure that level of performance, will make it more difficult to attract the quality young players such as those mentioned above and will also mean that whoever we do bring in is not seen throughout Europe and are not seen giving creditable performances against rated opposition.
Further, if our season ticket income diminishes for the reasons given above, the ability to pay current wage levels will drop and for this reason and the reasons given re European football above, the quality of player on view at Celtic park will drop.
The International marketability of our club in terms of media rights, merch sales on a European scale will crumble.
Domestic media rights are lamentable in value.
Our third income stream oscillates in times of success and failure. A successful Celtic team sees other income rise, a failing one sees that income fall.
For example the retail income during the Christmas before last was hugely disappointing and there were reports that the Celtic shops were absolutely dead.
I appreciate that boards of directors have difficult calls to make and that businesses of all sorts have to make choices.
But unless Celtic seriously up their game in terms of the footballing product, the excitement level for the fans and in the way they publicly tackle the big issues in Scottish Football, then there is a serious business case to suggest that the club will suddenly face a fall in revenue from which it will not and cannot recover because it has missed a bus and has not been quick enough off the mark in recognising the commercial dangers.
Given that Rummenigge’s comments were made several weeks ago and come at the end of a series of meetings that have been going on for months – Celtic – independent of the SFA, SPFL or anyone else — should be in regular and serious touch with different European clubs of similar size with a view to forming not an escape plan but a survival plan.
If Celtic leave any of this to Doncaster or Regan ( who have commercial conflicts of interest notwithstanding their lack of commercial ability ) then they are not looking after the best interests of their shareholders, fans or the club in general.
TBB asked a great question two AGM’s ago, when he dissected the accounts, stripped out depreciation and other charges, brought funds due in from negotiated transfers into play and added all those figures to the stated cash in the bank.
That exercise showed Celtic to have a great financial position with substantial money in the bank and due in the bank.
However, he pointed out that this was a football club and that a bank balance never won a match at any time in footballing history and asked if it would be better to spend at least part of that cash on an enhanced and improved football team?
He asked what was the point of the cash in the bank and asked what it was actually doing there?
If we don’t focus on sustainable and substantial European Football over a prolonged period, then there will be much less revenue from player sales, much less revenue from gate receipts and a far smaller football club (in every way) calling itself Celtic.
As the rest of European football moves – looking after their own interests – the diminution in value of Celtic as a business and a football club( in the eyes of the media, in the eyes of players, in the eyes of agents and in the eyes of football fans ) is all but guaranteed unless the board actively take positive steps to restate Celtic’s place in the European Football market place.
If the board do not recognise, assess and react to this clear and present commercial and football danger then they are worthy of the severest of criticism and are not fit for purpose.
Time will tell if that is indeed the case.
Jobo
Just nipped on to wish the last three standing all the best of luck but am afraid I can only wish The Token Tim all the best, as for The Exiled Sevconian & superBIG Ally am afraid I cannot wish them any success
Roll on LMS7
Gerryfaethebrig –
you’ve just reminded me. I did promise to repost the picks and excuses did I not? Give me 5 minutes…. ;-)
I just hope this means a higher bonus for Mr Lawwell.
16 roads – Celtic über alles… on 12th February 2016 6:31 pm –
It wasn’t the Spanish Civil Servant who was picking up a wage despite not attending work for the last 6 years? They only discovered that fact when they decided to present him with a long service award :-)
Very silly billys.
Maintaining that level of hatred must be mentally exhausting. It must take years off people’s lives.
*** LAST MAN STANDING 6 – WEEK 10 ***
The 3 remaining (ahem) Standers have made their choices for week 10.
Rather than me trying to come up with some drivel to explain (justify?) each pick I though it would be better to just let you have the reasons from each horse’s mouth (no offence lads)…….
BIG AL – “Huns….may god forgive me!”
THE EXILED TIM – “In the absence of the team I was going to pick this week, the London huns, I will have to pick the scottish huns who are away to Alloa, cos I reckon the others will pick them, so either we all fall, which wouldn’t be a bad thing, or we all progress.”
THE TOKEN TIM – “Logic and all the stats dictate that I should, indeed, would be mental not to, pick sevco, however, as far as I am concerned there is more to life than money. I have my principles (take note LennyBhoy and SFTB J) and I refuse to pick them purely for monetary gain (I’m sure Mrs Token would say differently, and more than likely give me a hefty kick to the haw maws for this too!), therefore I shall go for, hopefully, a Wayne Rooney inspired Man Utd to defeat big Sam’s Black cats. I have a feeling my principle’s will come back to haunt me, but so be it. PS – I was going to take Dundee at home on Friday instead, but bottled it…..”
Good Luck to the 3 concerned and remember – if both Man Utd or that other choice both fail to win the prize fund rolls over to LMS7.
My last post was to tbj
BRTH …
From your lips/pen ….
That has to be one of the most polite (but, sadly, accurate) eviscerations of a board’s performance that I have read in a long time. Hopefully, those in charge will take a few moments to read your post, and give it the consideration it deserves.
If not, hopefully our host will pass it along to someone in the know who will make sure it gets to the right people.
How about you and TBB standing for the Board next time around? I, and I think many others on here, would be pleased to see that happen. HT as well … seems like a good character, with common sense (which, sadly, is not as common as the name suggests) ….
You three would have my votes!
… and maybe throw ACGR and /or neganon on the Board as well …. just for the fun of it!
hitting the wall here … going to start the ‘howling early, if that’s okay
Nathnail Rateliff … Howling ..
https://www.youtube.com/watch?v=AzqmVa6n-es
Big Al/ Tet…
Sorry bhoys, c’mon THE TOKEN TIM :))
16 roads – Celtic über alles… on 12th February 2016 6:31 pm
Day 3.
“Workers of the World, Unite. You have nothing to lose but your chains!”
Who coined that phrase?
Here’s a wee clue – Bloke never done a single days work,throughout his entire miserable existence on this earth.
The ultimate parasite.
I’ll be back again tomorrow hopefully.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
May Day, eh.
The birth of the Illuminati, the enlightened eh,
Los Alumbrados, mystics are never good in any Religion, least of all, especially in Christianity.
Yer right JJ.
Back on later.
listening to a bit of music as I wind my work week down … thought I would share a few gems (until the main man – RC – shows up) …
a brilliant pop song from one of the most criminally overlooked bands in history (along with the Trashcan Sinatras) ….
The Lucksmiths – Sunlight in a Jar
https://www.youtube.com/watch?v=bAkx37MglaU
Sipsini
How could you possibly think that was lennybhoy….
The guy was far to young looking.
Are you going tomorrow ?
16..,
The pope ?