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Citizen King, Xanadu lost

498

I followed Celtic’s accounts since Fergus took over and started posting them out to us.  Around the same time I began following those of David Murray’s MIH and Rangers, the fortunes of each, and ultimately of the rest of Scottish football, were intertwined.

Fergus ran a stable ship, but things kicked off when Dermot Desmond replaced him as Celtic’s largest shareholder.  In Dermot’s first season in charge, excesses were lavished with England and Liverpool legendary player, John Barnes, in charge.  That didn’t work out but the next season, with Martin O’Neill in charge, spending took off in a fashion never before seen at Celtic.  A treble arrived, but the financial losses were eye-watering.

The trouble was, we had all gotten used to this new level of spending.  Dermot was applauded (by some) for matching the “ambition” of David Murray, so much so, that finding a route back to sanity was always going to be a challenge.

Then came the Seville season.  Celtic Park was packed out for European fixtures until April, while domestic games were also a sell-out.  The commercial team did a deal with shirt sponsor NTL to have the new season’s strip launched early.  It looked like every able bodied person in Scotland had purchased the new Celtic strip.

That summer I waited for the accounts to drop.  This document would reveal our true potential.  The first sign of trouble was an email, “Alert for Celtic PLC Final Results”, on the afternoon of a Champions League qualifier.  I anticipated good news story, but good news would surely be stage managed better than to slip out on the afternoon of a game?

The document revealed we lost £7m, despite Stuttgart, Celta, Liverpool, Boavista, Blackburn and Siduva.  Despite all those shirt sales.  We beat MTK comfortably, lots of people were happy, but I knew why these accounts were released on a match day; Celtic were living beyond their means and that could not go on forever.

OK, so we released accounts on a game day, giving the news cycle four hours to digest and report before Henrik and Co. moved the story on.  On Wednesday, Newco didn’t press the publish button until they were a goal up against Kilmarnock!  This could be the work of Charles Foster Kane.

Within a minute, karma struck.  Kilmarnock equalised, Xanadu lost.

You will know the detail by now.  On a turnover of £32.6m, Newco lost £14.3m, this, coming years after comments such as: “just about breakeven” soothed the masses.

The accounts themselves are horrible, but, of course, now historic.  Income for this season will rise with Europa League qualification, while costs associated with the recruitment necessary to propel the club to fourth in the league will also rise significantly.

The question is, if you act like Citizen Kane, do you follow the same trajectory?

Really looking forward to Hearts tomorrow.  After the week they have had, a bit of karma must be coming their way.

Celtic Supporters’ Association
Annual Memorial Mass
for all Celtic Supporters & Their Families

Tomorrow at 12.30 the annual memorial Mass for ALL Celtic supporters and families is held at St Michael’s, 1350 Gallowgate, a short walk from the stadium.  A time for us to remember those who passed on the club over the last 130 years.  There will be tea and coffee in the hall for you before you head to the game.

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498 Comments

  1. TET, JAMESGANG….

     

     

    I just agree with my Da, it’s a waste of time to argue and makes him happy that he’s on the ball and I talk shite.???HH

  2. PETEC on 2ND NOVEMBER 2018 10:28 PM

     

     

    TT and DD, My Dad said to me this week that Evan Williams told him in the Lennox that Callum couldnae tackle a fish supper.

     

     

    *I know big Evan well he was a close friend of my brother, he was also at both my parents funerals and when he lived oot in Balloch he was a neighbour of them.

     

     

    Whits he doing drinking in the Lennox when the Harp Club is next door. BTW former Sons legend Charlie Gallagher couldnae tackle a fish supper either but by God he could play the game.

     

     

     

     

     

     

    My Dad has complained a lot about wee callum, Delighted for him that he is being confidence BOOSTED by Brendan, likewise James Forrest

  3. Sipsini

     

    It’s the best way mi amigo, as you said they will never change so why bother trying, some things just need to be let be, that disny sound right but i’m sure you know what I mean :-)

     

    HH

  4. weebobbycollins on

    St Stivs…if you are looking in…t’was indeed yourself who posted the Derry film. Thumbs up for that! Enjoyed it…There was something extra sad about watching and listening to the interviewees, knowing the brutality that was very soon to be unleashed on them…

  5. SIPSINI on 2ND NOVEMBER 2018 10:36 PM

     

    TET, JAMESGANG….

     

     

     

    I just agree with my Da, it’s a waste of time to argue and makes him happy that he’s on the ball and I talk shite.???HH

     

     

    ——-

     

    So basically the same approach you use on delaneys?

     

     

    ?????

  6. Gooood evening CQN ???????

     

     

    I hope the 18th minute support for Lenny is a huge success

     

    I am Neil Lennon ???

     

     

    One other point

     

    MAH – hope you and family have a fantastic day watching our heroes, before you then go under the knife on Monday

     

    Enjoy Stephen, then onwards and upwards with your Health

  7. mike in toronto on

    DD

     

     

    Vusi Mahlasela show was brilliant!

     

     

    What I loved was, although many of the songs were about suffering and oppression, there was a strength and even a joy in them. Remarkable.

     

     

    And Im a lot younger than him, but wish I could move the way he does … hell, I never moved like him!

  8. SIPSINI on 2ND NOVEMBER 2018 10:36 PM

     

     

    TET, JAMESGANG….

     

     

    I just agree with my Da, it’s a waste of time to argue and makes him happy that he’s on the ball and I talk shite.???HH

     

     

    *Last time I had a conversation with my da I fell out with him as he said the cheeky chappie was a great wee bloke, tae make matters worse my mother agreed with him.

     

     

    What really annoyed me was he accused me of being a bigot and he knew fine well I read a lot and retained a lot of information, in fact when I lived at hame he would often phone me fae the pub tae inquire about specific games or players, when I mentioned the kebab shop incident he more or less called it paper talk.

     

     

    He did call me up tae congratulate me on my granddaughters birth, when I reminded him it was also the anniversary of the 7-1 game he laughed and said that only I could connect both events. He passed away 3 weeks later.

     

     

    I’ve despised chauncey ever since then for bringing the worse out in me. As Liam Neeson said “I hate them for making hate necessary”

  9. Paradise will be in danger of poison tomorrow.

     

    I wouldn’t be surprised if Maclean tried to cement a status as a Hun icon with some out and out thuggery.

     

     

    One in, all in. Look after our own.

     

     

    And/but – If football breaks out, hearts will be a broken.

     

     

    Hope Brendan sticks trainspotting2 on the team bus to remind the Bhoys how bitter and stoopid the minis are!!

     

     

    HH jg

  10. Firstly , for anyone who may be interested , the Madrid Emerald CSC have moved from the Triskal at Tribunal to Paddy’s Irish tavern in avenida Concha Espina .

     

     

    Secondly , does anyone know of a bar in Porto which might show the Celtic game tomorrow ?

  11. JAMESGANG…

     

     

    DD has a memory like an elephant about football and names, I just nod my head and get him another Guinness whilst he disappears to clear his lungs.

  12. Delaneys Dunky on 2nd November 2018 10:52 pm

     

     

    Petec

     

     

    I honestly think that Tom Rogic is the best midfield player in Britain.

     

     

    YNWA

     

     

    ………………………………………………………………………………

     

     

    Put Tom Rogic in 75% of the EPL teams and he’d be a liability.

     

     

    Celtic have a Gem.

     

     

    He needs to stay fit and Strengthen further. The Skills are God given.

     

     

    Celtic is a place to Breathe

  13. Interesting news on Infantino ex UEFA Secretary now FIFA President.

     

     

    https://www.marca.com/en/football/international-football/2018/11/02/5bdc966a22601db41a8b4595.html

     

     

    He was an official at UEFA in 2011 and involved in the introduction of UEFA FFP having worked in UEFA Club Licensing.

     

     

    He was the guy that Celtic copied their letter of May 2012 to SFA expressing concerns about the investigation into RFC use of ebts with side letters. I’ll post a link later.

     

     

    In September 2011 there was a conversation between the SFA official responsible for seeing UEFA FFP was being adhered to by SFA and clubs and a UEFA official.

     

     

    The result of that conversation was verbal acceptance of the June 2011 monitoring submission from RFC.

     

    A submissions that the JPDT was supposed to be investigating looks like it’s been deflected to CAS.

     

     

    Awkward for UEFA given it now appears UEFA not so hot on applying FFP without fear or favour.

  14. Pete

     

    Almost went to Prodigy gig at SECC tonight.

     

    One of the best live bands I have witnessed.

     

    Liam best front man ever.

     

    YNWA

  15. Delaneys Dunky on 2nd November 2018 11:10 pm

     

     

    Pete

     

     

    Almost went to Prodigy gig at SECC tonight.

     

     

    One of the best live bands I have witnessed.

     

     

    Liam best front man ever.

     

     

    YNWA

     

     

    ………………………………………………………

     

     

    I’ve said to Aidy we need to go and see Richard Ashcroft….. I said it would be easier in England. Defo gonnae go see him.

  16. Pete

     

    Haha Richard Ashcroft is my favourite. The only guy I listen to more than RA on a daily basis is Robert Nesta Marley CSC.

     

    YNWA

  17. A Ceiler Gonof Rust on

    On reflection, I have to apologise for my post at 0

     

    20.01.

     

     

    I should never have mentioned the great Neil Lennon and CQN’s own chocolate starfish in the same post.

     

     

    Sorry.

     

     

     

    Sipsini, my mum still reads the record every day. She loves Neil Lennon and hates the huns.

     

     

    84 year old lady and she thinks Lenny is a saint.

     

     

     

    HH

     

     

    BT, belated birthday wishes ya auld duffer….:_)

  18. God bless Neil Lennon.

     

    Arguably the bravest Celt we’ve ever had.

     

     

    Great suggestion from bada earlier.

     

     

    HH