Citizen King, Xanadu lost


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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  1. I know the Old Testament is incredibly Important but any hatred now is not right after the NT.



    Belfast was an eye opener.

  2. Petec


    The husband and wife fae Deacon Blue live in Old Kilpatrick, see them on the train often. Reckon the Lassie is a wee Tim but Ricky her hubby isnae. ?



  3. DD



    She is a tim.


    He’s a tangerine terror aka a Dundee Tim. A full on, support them even when they’re sh1te n relegated fan. My kinda supporter.




  4. Delaneys Dunky on 2nd November 2018 11:28 pm






    The husband and wife fae Deacon Blue live in Old Kilpatrick, see them on the train often. Reckon the Lassie is a wee Tim but Ricky her hubby isnae. ?









    All I care about is that they Both Believe Jesus died for us and every wan of our transgressions.




  5. Petec


    Scottish Cup Final


    Hibs 3 Huns 2.


    One of they days I will remember forever.


    Met TSOAL at Manic Street Preachers CSC gig that night.


    A Lou Reed Perfect Day



  6. fergusslayedtheblues on

    I have followed Celtic from a boy when ma da used to take me and my brother to CP and lift us over (in for nothing as a kid in them days ) . My da always met up with his brothers and us weans with our cousins at the first pylon in the ragers end .



    That was in the 60s and ma da would go home and say to ma ,ma .Mary i’m no taking him next time all he does is sit and dig for worms .That’s right ma da took me to watch the lisbon lions as a boy and me and my cousins used to make our way down to the front and dig about the dirt in the old terraces .



    Now I will never know if ma da taking me to CP all those years ago led me to be a ST holder of 25+ yrs (and a regular for years before fergus arrived and made matchday tickets harder to get at the bus parks ) but I do know that now that I’m a bit more grown up and appreciate watching my team play ,I am proud to give them as much support as I can.



    Do I believe that the business side of celtic has made business decisions that go against the grain ,yes I do would I decry every celtic supporter who attends CP for it ,NEVER .



    My view on it is, football today ,like it or not is a business and as such it has to generate money and if some have not noticed CP holds 60,000 people and those seats need filled .We get next to nothing for domestic titles and tv revenue .European income brings vastly more money in relative terms but never forget celtic supporters attending games at CP are the lifeblood of our club .



    Does anyone really think that if all supporters stopped going to CP tomorrow that the SFA would strip ragers 1872 of their cheated titles .Do they really think that if the BIG BAD PLC board demand titles were stripped and it put on public record that sevco 2012 was not ragers 1872 that it would be done . REALLY .



    Well sorry I don’t but what if …..



    The people running Celtic fc realise that instead of fighting constant battles against the established mortar of this countries footballing structure ,it is more sensible to build our clubs infrastructure and finances to be ready for the day that we are not restricted to the borders of this country and the corrupt powers of the discredited SFA .



    What if the big bad PLC running our club is using the very peepil some on here hate the thought of us siding with by not exposing publicly .



    What if the big bad PLC running our club thought that the new club playing out of Ibrokes has less of a shelf life than the milk in my fridge and are draining every penny from a decaying culture .



    IMO the celtic way ,disco lights ,hotel and a £1.5m hybrid pitch is not being set up for spfl matches ,times are changing in the football landscape and I for one am hoping our BIG BAD PLC is dedicated to getting celtic fc best placed to hit the ground running when t comes our way .



    hail hail

  7. James


    Thanks. Knew it.


    Can always suss a female Tim. Knew Lorraine was a Wee Tim. Magic.



  8. The wee Man is watching the Celts with his pal the morra.



    There is a free ticket – youth – adult really available.



    Downside – peteC



    The Corner is where you will See me to Witness another sensational Celtic display.



    Thunder Roads?



    Anyone really.



    It is Incredibly important to have the stadium actually Full.

  9. Petec



    Thunder Road???


    I saw the V&A in Dundee in the flesh today for the first time.



    If someone told me that our own resident artist had drawn it himself I wouldn’t have been surprised.



    HH jg

  10. macjay1 for Neil Lennon on




    What if the big bad PLC running our club thought that the new club playing out of Ibrokes has less of a shelf life than the milk in my fridge and are draining every penny from a decaying culture .






    What if , indeed.



    I like to give our Club the benefit of the doubt .


    Unless there is irrefutable evidence not to.



    When you were digging for worms at one end , I was at the other end cringing at our performances.


    Changed days indeed.

  11. JG,



    Mick steered me to the VA Museum – Incredible.






    Daily Grind. We have never had it so easy.



    Do you Believe in God?

  12. Going to see The Charlatans and James in Glasgow in December. Manchester ra ra ra.


    She’s a Star.



  13. SSN now showing 4 times in the same report, Neil enjoying the disallowed goal,reprehensible dogs…

  14. WBC


    Happy feel good Robert Nesta Marley


    I don’t wannae Wait in Vain.





  15. Every Protestant and Catholic that isnae in a Brotherhood.






    Kevj was jibber jabbering wrongly but his sentiments are True.

  16. Petec


    My favourite Celtic manager and favourite ever Celtic player were both Protestants.


    Jock and Danny.



  17. DBhoy


    New album by Ian Brown out soon. He made the album with his two sons. Cannae wait to hear it.



  18. Petec



    Aye. I and I will see you through.



    MAH – a handsome Tim bassa so cute he doesn’t even need beauty sleep! ?

  19. DBhoy


    I do not know a better guitarist than Johnny Marr. Jimmy Page his closest rival.