Four pillars of Celtic finance


The £11.5m loss Celtic reported yesterday was a significant upside on what could have been.  Most revenue streams were cut to the bone, or in the case of match day spend, eliminated completely.  That the cub survived without having to drastically change its trading levels was down to four factors.

Season book sales have been the bedrock on which Celtic’s foundations have been built since Fergus McCann took over.  Fans buying tickets in the middle of a pandemic was absolutely critical, be in no doubt, you may have never scored a goal, but you played your part for Celtic.  You pushed Football Operations income to £20.8m.  This figure was £15m lighter than a year earlier, but with no European or cup ticket sales, no food and drinks, it was a remarkable return.

My eye was drawn to Merchandising income: £22.6m, the highest ever figure and up a remarkable £7.6m on the previous season.  Achieved with zero match day walk in and very little footfall all season.  This was the first season of our kit deal with Adidas and, just as importantly, our retail deal with JD Sports.  If season ticket sales are the first leg on terra firma, these commercial deals are the second.

The baseline for Merchandising income is now higher than for Football operations.  What does that mean?  It means we can budget with a lot more confidence.  Multi-year commercial income deals reflect our exposure to multi-year player contracts.  This is how you build a football club; enormous credit to the unsung commercial team.

Europa League football help generate £17.3m in our ‘Multimedia and Other’ segment that also includes SPFL payments.  This is £2m down on the previous season; second prize does not pay as well as first.  The Europa League is not where we want to be, but when we miss out on the Champions League, it is absolutely where we need to be.

Notwithstanding the list of Japanese, Greek, English, Croatian, Israeli and Swedish internationals who arrived this summer, the contribution to our stability from those who left since our last interim reporting period ended on 31 Dec 202, is enormous.  If we had not sold Odsonne Edouard, Kris Ajer, Jeremie Frompong and Patryk Klimala for the money we did, the playing squad would look remarkably poorer today.

Every club needs to manage its assets, even the biggest.  Buy them at an age and profile you can develop and sell profitably.  Not all will make the grade, so those who do need to compensate.  The profile of the squad is not looking just as suited to this strategy than it was been for the last decade.  Win the league and qualify for the Champions League, and that’s not a problem, but this is not a sustainable strategy.  Celtic need to get back on the Asset Management track.

It is probably only after such an appalling season you get to see how robust the club is; built on solid granite.  Let’s hope it’s a while before we get to test this again.

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    SAINTSTIVS @ 7:17





    If it were not for the lady on the left, it would look exactly like the gents toilets at Celtic Park.






    the open aired toilet at the curved end of love street,






    It isn’t programmed to answer questions.



    It repeats its message on basis it presumes we are too stupid to have understood it first time.



    Don’t waste your energy.




    “!t”, as you deem to call me, has read many of your posts and interacted with you not infrequently. I have never thought you stupid, nor intimated that in any of my answers/posts. We might have disagreed markedly and I stated that you may be mistaken , but I would never think, or, say you are stupid – because I know you’re obviously not.



    Additional single match UEL tickets on sale now to STH! Deadline 1pm Thu.




    Get info @




    Opt out text CELTICSTOP to 60777






    I disagree with the Club giving additional tickets to STH. Obviously STH get first dibs on their seat for Europe but why STH get additional tickets above their own seat is a puzzle to me.



    If you’re a non STH living in Ireland or South England you’re left to wait to the last minute before you can start to organise your trip to Celtic Park because you’re getting access to tickets very late in the day.



    Celtic have no idea how to reach out to fans beyond the STH base. They’re seemingly not interested.

  4. Celtic have 16 + million in bank before the 30 million brought in for eduard, christie and ajer and spent half that amount on the players brought in. Minus all the others stuff I.e. season tickets, merc and match day revenue etc. In these times that is perhaps sensible but as a football supporter I want the money spent on the 1st team.



    Noted the 17 + million from a poor Europa league showing. The champions league group would give the club and additional 13 to 17 million pounds. For celtic it’s not a huge game changers unless assured over several years and a breakeven stand still (team wise) opportunity for sevco.



    The idea we have no young players with potential to become future stars and sealable seems premature.


    Right now we have a group of kids between 18 and 22 of: hazard, Doolan, Abada, Turnbull , montgomary, URHOGHIDE, Welsh, murray, Ralston, Shaw, Robertson, Dembele, johnson. Everyone of those players has the potential to develop and improve dramatically over the next 2, 3, 4 years.



    There are players we already sold that have the potential to add some more sell on fees I.e. Eduard, KT, dembele, ajer, christie etc.



    I would like us to have more focus on player development from our own academy but buy in when exceptional young talent becomes available to supplement a smaller 21 man 1st team squad (including 2 gks).




  5. SPIDEY101 on 22ND SEPTEMBER 2021 4:28 PM



    I’ve been wanting to give your post the reply it deserves but I’ve been busy all day and still am



    Absolutely no offense taken and none intended. I enjoyed the discussion, and I’ll try and reply when I can

  6. new blood on the board?


    so what?


    another handsomely paid fat ass wiggling over the trough?


    musical chairs?


    why do celtic supporters need a board?


    to guide supporters?


    to deceive deflect lie spin cheat and ignore supporters?


    my guess is that 1 yes ONE sharp cookie from the supporter base sitting in front of a laptop could do all that’s right “ALL” of the work that our entire board do!


    wtf do the board do apart from take take take take????


    what do the board do? how many cages do they rattle? why do they give resolution 12 a deafy?


    boards? plc’s? stock market? for what? a club that lies its asses off to its supporter base about everything!! ffs!


    a club that blows the chance of a £40 million bounty what is that 2? 3? years in a row? in all the excitement I’ve forgotten how many.


    a supporter base who swallows the same guff lies deflections wrapped in a different wrapper then on they go bitching whining “poor us” t-shirts on and then…..same again next year. wtf? ffs? help! help! make it stop!!!!


    years ago there was a journalist who was hated by celtic supporters because


    the celtic view said “he’s a bogey man. beware!” and the sleeping supporters of the sleeping giant fell for it.


    anyway this journalist had a segment on stv every wed night after the sports news an opinion spot.


    so this was the wed after celtic had got a 1-1 draw at Ibrox thanks to a Cascarino equaliser in 1991.


    so on opinion spot stv the celtic view hated journo said the following…..


    “during Saturdays 1-1 draw at Ibrox, the home fans reverted to the tired old bitterness with songs of days of yore that should’ve been left in the days of yore. Celtic’s fans who’s club doesn’t have its worries to seek at the moment, proved on Saturday that they’re an entirely different kettle of fish. with their team the one under pressure at the moment, they brought humour with their song “always look on the bright side of life” which it has to be said they pinched from the Manchester United crowd, never the less they demonstrated that they’re on a different sphere entirely from those who would drag us back to the days of yore. the Celtic support still has a few nut cases who need weeded out, but in the main they have a right good old amount of golden nuggets within that support, and if Celtic had some of those golden nuggets on their board, then Celtic FC would become an unstoppable force.”


    golden nuggets, this hated journo if he was here today, would be highlighting Auldheid Morrissey Canamalar BRT&H Jeanette Findlay and others as the golden nuggets who “MUST” be given the reins of the wobbly untrustworthy celtic wagon imho.

  7. is this true ?







    roy slater






    Jun 26


    CHANCE IN A MILLION , Peter Sissons (left)The newsreader, who went Dovedale Junior School in Liverpool puts his left arm on John Lennon (centre left) who is standing next to Jimmy Tarbuck (centre right) and Brian Labone (top right) during a school trip to the Isle of Man in 1951






    Still didn’t answer the question though.




    You are a hard taskmaster, ‘wee barra’😀

  9. CONNAIRE 12,



    I have done what’s necessary. If the information given so far is too complicated for you to follow, let me know and I’ll try and guide you through it. You can get my email from Paul67, if needed. I write,as I am not the most IT clued up. I have the paper copy.

  10. I had an interesting day today.



    Business meeting at our office in Glasgow, with guys from Swansea and Watford.



    Both football fans, we chatted often about results, celtic connections to those clubs, the good (bbj) the bad (judas) the ugly (hurlock of all people).



    A cleared schedule for an all day meeting pleasantly suprised when all business was concluded by lunchtime.



    Flights not till 5pm, what we going to do now, well guys its a free hit, email or a tour around glasgow ?



    Celtic Park anyone ?



    Signed up.



    I showed them The toilet block , “it was a pity rangers got relegated, it spoiled the laegue for a while ” one said. The true story presented, and the losses never paid and the fraud of the phoenixing they were agog. How can that happen ? If derby go under they go under, aye well scotland that is.



    Onto Celtic park, the plaque for the original park, round to the statues, a look at the banners, the stories of them, tommy, walfrid, jock, jinky, they loved our history a few wow reallies ?



    the celtics for change stone, the cqn one, family members, down to see billy, he is the most impressive.



    down the london road i told the story of the migrants, the irish, walfrids dinner tables through bridgton, there is a flat across from the old police station, every window bedecked in orange crap.



    they never heard before the religious elements, or they didnt pick up on it.



    showed the huns bars, told of the murders, turned up abercromby street and went to saint marys.



    even today, today 2021, the level of poverty on show in that street on an ordinary day, is pitiful, a strange thing occured, a rangers top wearing equally pitful guy walked past the gates and the statue, and looked haunted, he is just poor i thought, and addicted, and it is a shame.



    i told the story of an gorta mor, i took them in the church , showed wlfrids pictiure and tfather peter on the walls, the paving and the peter howson.



    some fella is in praying, in a devout way, looking high, arms out, dont know why, but against the walfrid painting he looked as tortured as those in the frame.



    we didnt go past the back row.



    back in the car, the tommy burns story, down the gallowgate, bar67, the hoops bar, the story of bairs, the brake clubs, onto the saltmarket, more walfrid story of charlotte street and the brothers.



    up high street, the waves of irish, the banners on the lamposts “the famine” statements.



    provands lordship, cathedral, infirmary, and the garndgard, mcgrory, royston road.



    told them more about walfrid going to saint annes,



    dropped them back at the airport a wee bit early and said there is a celtic shop in there.



    best business meeting ever said nik from watford.



    cant wait to get up far a game and i am buying my kid something from the shop said david.



    if you know our history.

  11. Dunno whether to play Jerusalem ot land of hope and gory while reading the sustained pish on behalf The is one sided vomit accounting for who pays?



    Scotland has voted with increasing divergence from Westminster since the 2 elections of 1974


    The selfish unionist vermin barely had barely one not that prick Galloway but the deviant and husher of Dunblane forsyth,thatchers penus.all added to the democratic deficit.


    Then we had the war criminal and that kiddy onny fake socialist pish that adhered to and never repealed any of the witches policies.Gordon the 11 fingered chancellor had years to control City excess he didn’t.our banks began to jog then run…out of business.


    And now we have had 20 years of Scottish government,acting on the wishes of Scots.tho no power over nuclear or drugs to name 2.


    Funny since then Tory scum and the Red envy are critical yet have no democratic base in Scotland and no insight into why they both are unelectable




    Seems to me your arse licking Boris Tam,still swallowing all its chunks



    Holyrood horlicks-as opposed to westminster wank in!!



    Your “othering” of differing parts of your union is ancient as well as racist.Gerald of Wales done your sycophancy better in 12th century.It gave birth to racism and your union has form on it.



    Tam your mentioning of cult.


    Yet still no mention of your critique of the real death cult.


    World beating covid death rates-


    World beating chaos and incompetence-more deaths


    World beating inaction- emdi left we can theorise bout natural death rates,herding etc all as deaths go off scale



    Yet to suckling vermin like yourself not a word.its all the snps fault.



    Global fin crisis- the poor weak and needy pay austerity remember


    Covid-ni to increase@,excess on Universal credit the poor weak and needy already paying with fuel and Brexit inspired price rises to come…pity there was not a tax loophole to close but you being a tory enabler couldn’t give 2 figs.


    Furlough- see the lay off figs as it ends another % point on inflation ach the poor will pay,all helped by tory enablers like yourself


    World beating vaccine delivery,jab rate bout late 70% Ireland 86% 👈 and that is low by European Standards.



    It is the UK govt that will do nothing but stand by as bodies pile



    Disney or the rancid real life horror movie your tory enabling should read


    There you go at the othering can be to pro union so its easier to belittle scots.or is it that you think you can only be Scots inside the union?



    No say on drugs policy.


    No say on nuclear


    No say on the burroo tam(saw rite wullnae cut your courses:-)



    An administration voted by the people doing what those people want.your looking for a wee jack administration who actually gave money back


    There is no grievance,your othering will invent one.even tho With Brexit they have a fundamental one



    Tam your a tory misread 50 years of democratic deficit in Scotland england .




    What a pity you can’t say which part of English nationalism/union tumor you are voicing is not and never will be of the left.Your union is dying.Democracy will see to that.



    Keep on with the othering tour a handy “jock”

  12. I thought Stanley Unwin had passed away around twenty years ago – and yet here is, as large as life, appearing regularly on CQN, and delighting us all with his command of Unwinese – wonderful stuff, takes me back🤣!!!

  13. Saint Stivs



    Brilliant day.



    So important to remember what we have.



    Real Brands are about stories and heritage



    Celtic is a real brand, so much more than just another club, without the fake manufactured fake value bought in an EPL or MSL type environment.



    I guess that’s why our current custodians will hold


    On for the day which they think may come when that brand equity can be leveraged on a much bigger platform than the 5 million tv audience in Scotland.

  14. Roofe just looks like he belongs with those lot




    As my wee mum used to say about Alex McDonald and Willie Johnston and the like.

  15. Saint Stivs


    Fantastic story, you should take up the PR promotion of the club full time. Hugely impressive – well done 👏 🍀






    Stop using a.b.b.r.e.v.i.a.t.i.o.n.s. – ffs 🙄










  17. Dundee losing to St. Johnstone. Griffiths still not off the mark in this, his third game. Still time left.

  18. Celtic 40me


    Cheers. No offence taken on my side, just wanted to reassure you (and myself) as Mrs Spidey101 keeps reminding me I can come across as a bit arsey at times!

  19. Watching the orcs – Livingston shot themselves in the foot twice. Changed the game. They were finding it just as hard as we did up to then. Patterson was dreadful. Craigan thinks he’s commentating for Zombie TV – utter fan(ny) boy.



    Livingston offered zero attacking threat.



    We should not be losing anything to this orc side but we need to get our act together.

  20. Livingstone no corners, no shots on target, no shots off target, i.e. no shots at all, 38% possession, largely due to blatant time wasting before they went behind. They really are a dreadful football team. Just can’t imagine them beating anybody. Oh! Wait!

  21. More gerry sadowitz! skank.


    Your racism is old.ancient worn and as torn as your othering


    A thatcher a nice little unionist





  22. INIQUITOUSIV, they didn’t offer that much more against us. Let’s see what happen when der Hun play on Livi’s carpeted concrete. Will more of der Hun players put their career on the line than ours?


    Will Nicky Devlin (Livi Captain) take out their most potent threat in less than a minute like he did with Rogic?


    Remains to be seen.

  23. Ange has said:



    “I haven’t felt that the supporters are thinking this is going to be a quick fix at any stage.”




    I agree and have posted as much a couple of times recently.



    Can we get to then end of the year and still be in touch? By being it touch, I mean no more than six points behind when they come to Celtic Park.



    Without being pessimistic, a couple of away draws, say at Aberdeen, or, Hibs, or, Motherwell, or, Dundee Utd, could leave us eight points adrift as we entertain *Rangers – a loss then will, in my opinion, kill our challenge (11 points will be too much surely). Based on recent form, if anyone on here is confident, please share your reasoning with me.



    The turn of the year will be pivotal and January to June could be a long haul with Ange’s statement tested.



    I am ready for at least a two-season stretch, but will the overwhelming of supporters be as patient. Ange’s task is not only to keep the team progressing, but also to keep the fans on board – this will not be a ‘walk in the park’. I wish him well and admire his ‘bottle’.

  24. Disappointed to hear Callum is out another game. It may actually be a really good thing as he can Mentally recharge the batteries – he will be thinking about Celtic 24/7 and what he has to do though. A truly Wonderful fitba player.



    Going along the morra and if James plays passes like he wis daeing in the 2nd half, yer better getting me on, even at the frenetic pace of the Scottish game…. I could make them.

  25. Our status quo at anytime between now and decision time depends on which of our snowflakes are fit and ready for battle.


    I hope to God AP isn’t relying on that numpty Jullien making a return. Any player making a concious decison to smash his knee into an upright post against Dundee Hibernian whilst 2-0 up deserves no award other than for stupidity.

  26. AN TEARMANN on 22ND SEPTEMBER 2021 8:45 PM







    ‘Scotland has voted with increasing divergence from Westminster since the 2 elections of 1974’






    Check the number of votes cast for the respective parties in the General Election, and for the Holyrood Election.



    You’ll see the majority voted for unionist parties.



    It’ll maybe help you understand why the SNP have absolutely no intention of holding a referendum.



    No wonder they spent the money from the fighting fund. They knew there isn’t going to be a fight. Grifters the lot of them.

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