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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that only big nat and a few understand!
In Jackanory they spell things out, in plain English, so that everyone watching can understand what’s being said! :)) por cierto
AN TEARMANN on 23RD SEPTEMBER 2021 12:06 AM
‘Ernie.
Point was it lab 74/6/8 :-)) in power in London,a maj power in sco.when the witch came to power 79 democratic deficit opened thereafter.’
###
That’s right. The SNP voted to bring down the Labour Government and paved the way for Thatcher.
Dreadful for he Scottish people, but great for the SNP.
Self serving grifters then, self serving grifters now.
WT @ 10.10
Gaelic was never a language spoken in Wishaw by the natives.
Back in the day — 1000AD’ish and before — the language of Wishaw was Welsh.
Not Jacinda and the Nats have a soft spot for the “Scots”.
They were Irish invaders / colonisers / expansionary chancers who married well.
Current Nat thinking forgets all about the Picts — the true owners of Caledonia / our Sunday or Roman name.
Then they forget about the what happened in the Central Belt / Southern uplands.
The dismemberment of the nations of Strathclyde and Northumbria when the Scots worked hand in glove with the Anglo Saxons in the south.
Move on a 1000 years and The Nats and the Tories are still two cheeks of Old Monkey glands erse — aka RM — just look at the Scum for the detail.
Griff could be banned against Sevco for kicking a flare into the crowd.
This guy will never learn…
GEEBEE1978 on 23RD SEPTEMBER 2021 10:30 AM
Griff could be banned against Sevco for kicking a flare into the crowd.
This guy will never learn…
————–
and we gave him a 12 month contract! To be fair, that was pragmatic at the time and likely a big pay cut – unless that was Dom’s ‘biggish’ error? 😎
Your blog of course Paul but if you are looking for a bit of a placeholder article at noon today before “Live Updates” appears at 6:30pm ….
… you could do worse than cut and paste St Stivs post last night in full ….
…. under an article title of “Celtic fans as evangelists”
And just leave it at that.
Brilliant, humbling stuff.
While others spin “anyone, everyone” with absolutely nothing behind the curtain our fans are actually living it.
An easier “sell” for us to undertake of course.
A club born from charity, humility and a desire for unity always appeals to the basic decency of humans wherever they’re from.
Hail hail
Keep The Faith
There’s a game on tonight (paid for but can’t go , arggh) and the Herald have taken the opportunity to dig up the 1994 LC final!!
My team (with subs if we are winning) :-
Hart
Juranovic Vickers Starfelt Bolingoli
Rogic(Henderson) McCarthy (Soro) Turnbull
Abada Ajeti (Giakoumakis) Johnston (Jota)
Random thought but was Ange gambling a bit on Sunday in order to get as many minutes into McCarthy and Boli’s legs as possible while still thinking we could win? Tonight’s the night fir match fitness. Play the guys lacking in that depth. I want to win everything but gambling is for the cups, not the league.
We need to win tonight and learn the habit of going on an unbeaten run.
Gambling with league cups are for those with settled teams and a more stable psyche than we currently possess. It’s where we are unfortunately. Let’s embrace it.
HH
.
Ernie will answer your lie later
https://twitter.com/bellacaledonia/status/1440772660481257482?s=19
Jeanette call it out
HH
SEAN THORNTON on 23RD SEPTEMBER 2021 8:08 AM
JHB.
I admire yer indefatigability.☘
🤣
HH
—–
I caught it from GG, who got it from Saddam – I wasn’t double-jabbed at the time. HH
ERNIE LYNCH on 23RD SEPTEMBER 2021 10:22 AM
https://wingsoverscotland.com/just-for-the-record/
https://wingsoverscotland.com/36-years-of-discontent/
SQUIRE DANAHER on 23RD SEPTEMBER 2021 11:35 AM
Is he still a thing with the cult?
Are you still sending him money?
Grifting the grifters. What a guy.
SAINT STIVS on 22ND SEPTEMBER 2021 8:42 PM
A great post and a thoroughly enjoyable read.
Hail Hail.
Our ‘kind’, if I may use the vernacular, who vote SNPcult, have no historical ideological tie to Nationalism and its inherent evils. It’s just a knee-jerk to “stick it to the huns”. I doubt if many know anything of the origin & history of the SNPcult – they certainly don’t know any of the policy, or, plans, if the ‘pie in the sky’ breakaway ever came to pass. There is no coherent economic plan – if there was even a plausible “pack of lies’ like the ‘thick’ White Paper of 2014, they’d be shouting from the rooftops and plastering it on every billboard that Government money could buy…..now that the ‘slush fund’ had been emptied.
FACT: We have numbers of colleagues, friends and like minds in England greater than the entire population of Scotland – and yet some would abandon them to be a oppressed minority under the boot of an emboldened and much bigger adversary in a smaller nation…..the mind boggles!
Good morning cqn from a bright but chilly Garngad
Saint Stivs – A great read about your meeting yesterday.
D :)
ROBERTTRESSELL on 23RD SEPTEMBER 2021 11:07 AM
Random thought but was Ange gambling a bit on Sunday in order to get as many minutes into McCarthy and Boli’s legs as possible while still thinking we could win? Tonight’s the night fir match fitness. Play the guys lacking in that depth. I want to win everything but gambling is for the cups, not the league.
————
I think he might have assessed the squad after the exertions in Seville (e.g. Montgomery and Ralston) plus the fact Taylor is medium term out the team (Bolingoli)
It was a much richer and stronger team than Livi so we should have panelled them anyway
https://fatllama.com/rentals/london/hire-raleigh-grifter-52579488
ERNIE LYNCH on 23RD SEPTEMBER 2021 11:47 AM
Deflection deflection deflection ha ha
I have never paid a penny to any political character or cause in my life.
Save The Last Dance For Me …The Ole Grifters .
My mate got a Raleigh Grifter for his birthday and I was sooooooooo jealous! I had a Raleigh Tomahawk, pish in comparison.
A Raleigh Chopper in 1973 cost £33.75, todays equivilant of £290.
walterraleighcsc…🍀
ERNIE LYNCH on 23RD SEPTEMBER 2021 11:47 AM
SQUIRE DANAHER on 23RD SEPTEMBER 2021 11:35 AM
Is he still a thing with the cult?
Are you still sending him money?
Grifting the grifters. What a guy.
****************************
So, SD provides links (as you often demand) to articles which completely refute your assertions regarding the 79 election and you reply with the nonsense quoted, above.
Dearie me…
18 YARD MAN on 23RD SEPTEMBER 2021 12:44 PM
‘So, SD provides links (as you often demand) to articles which completely refute your assertions regarding the 79 election and you reply with the nonsense quoted, above.’
###
You are using the word ‘refute’ the way Sturgeon does when facing down whatever she stands accused of at the time, to mean deny, rather than its principle meaning, to rebut.
Must be a cult thing.
The Bath based weirdo that is the RevStu, was at one time a darling of the SNP’s cybernats, but I think fell out of favour with the party hierarchy, and now seems to be flavour of the month with the Salmond clown car, Alba.
The idea that he is still regarded as some kind of objective or reliable authority on anything is indicative of the depths to which political discourse has sunk in this country.
“I was just practising a shooting tip Ryan Christie gave me. I had no idea it would end up back in the stand.”
I’m still a Griffter
ERNIE
I am not a member of any cult and, in fact, voted Labour in that election and in many subsequent elections. However, if you actually read the the second article, you will see that it quotes extensively from James Callaghan’s memoir. Here, Callaghan admits that Labour’s defeat in 79 was inevitable, irrespective of whether of not it had won the vote of confidence which precipitated the May election.
18 YARD MAN on 23RD SEPTEMBER 2021 1:08 PM
The truth of the matter is that the SNP were intent on bringing down the Labour Government because they calculated that it would be to their political advantage.
The SNP love the Tories and will do anything they can to ensure a Tory government at Westminster.
That’s why they supported the Tories in bringing the last UK Parliamentary session to an early close.
Though their other motivation on that occasion was in getting the election out of the way before Salmond stood trial for attempted rape and other stuff.
“The truth of the matter is that the SNP were intent on bringing down the Labour Government because they calculated that it would be to their political advantage.”
To criticise the SNP for this is petty. Surely all political parties operate on this basis?
However, as I stated before, the urban myth of the SNP’s culpability in heralding the onset of Thatcherism is rebutted/refuted by James Callaghan, himself.
21-5-79 🍀 on 23RD SEPTEMBER 2021 12:26 PM
My mate got a Raleigh Grifter for his birthday and I was sooooooooo jealous! I had a Raleigh Tomahawk, pish in comparison.
A Raleigh Chopper in 1973 cost £33.75, todays equivilant of £290.
_________________
I’da killed someone for a Raleigh Chopper or Tomahawk!!
Our fam was not flush so I got a hand-me-down RSW 14 from my cousin Catrina – whit a riddy I had on that!
Plus it was Blue.
PUREBRASSERCSC
ERNIE LYNCH on 23RD SEPTEMBER 2021 10:22 AM
AN TEARMANN on 23RD SEPTEMBER 2021 12:06 AM
‘Ernie.
Point was it lab 74/6/8 :-)) in power in London,a maj power in sco.when the witch came to power 79 democratic deficit opened thereafter.’
###
That’s right. The SNP voted to bring down the Labour Government and paved the way for Thatcher.
Dreadful for he Scottish people, but great for the SNP.
Self serving grifters then, self serving grifters now.
=====================================
Grifters…..yup I remember that at an insult in 1979
Its great your using it as a peice of self analysis turned abusive term.
Now 1979.
Denis Healey 3 years into liblab pact and it failed.
Miserable was not the word.
Imf insisisted Denis CUT public spending as structural adjustment programmes were laid out.he introduced monetarism to point where the witches chancellor could argue he did not cut as much as Healey did.
It meant
Record loss of strike days- do you remember
Bin strikes- piles of garbage everywhere
Army on the streets clearing it,assisting firebrigades
(Shocking that eh armed services doing all
Inflation 27% 1977 bout 8 when as 18yards points out wee jum callahan lost the plot.
The country was a mess,a whole mess and we remember.
.
Labour and the good ol brit amnesia /selective memory
Red envy/happy powerless eunuchs.
Blame the snp.its what your party do- forget! No insight.
Any insight bout new red envy Tony and the iraqi dead?
As per that’ll be snp fault as fake socialist deny themselves.
You be good now Ernie
HH
18YM @ 1.29
Much of JC’s work post the 79 election was a case study in trying to explain away the biggest mistake of his political life — not calling an election in Oct 78 when he had a much better chance of winning.
The Nats knew that they were a busted flush in the spring of 79 yet still they voted for Maggie in the no confidence vote.
And as the great man said himself at the time — it was the first time in history that turkeys had voted for an early Christmas.
The giveaway in all of this is the Nat effort that goes in to try and re-write history where we had a gold standard progressive political party doing its best to hold back the forces of the right wing press / the economic establishment / Chicago boys economics — when in fact we had a tartan tory glee club with legendary levels of political stupidity swally’ing their way towards oblivion and all the while complaining about the RC influence in Scotland and how this was holding the country back.
Add in their anti EU tendencies — no Treaty of Rome for them — and their desire to get out of NATO ASAP and you had a political movement with a very high level of political toxicity.
Things have gotten better but not by much and they have found in government a level of hopelessness / cluelessness / uselessness that cannot be found anywhere else outside of BoJo’s brain.
MM
“Much of JC’s work post the 79 election was a case study in trying to explain away the biggest mistake of his political life — not calling an election in Oct 78 when he had a much better chance of winning.”
So, it was James Callaghan who was principally responsible for the timing of Thatcher’s win in 79?
I agree and will leave the field free to the nostalgic cyclists…🙂
Toaty Trumper @ 1.40
You have a history of talking tripe but today you really have lost the plot and with it any level of credibility you ever had — all that effort in the Tech so that you could have a career counting beans in the City (of London) — what a waste that it should come to this farrago of nonsense.
Mid 70’s — high inflation …
Please blame the Vietnam War / post colonial economics / the Barber boom / the 1973 ME conflict.
Nothing to do with HW / DH / JC or anyone else with a red rosette.
1976 public spending cuts — Treasury inspired drive by claiming that the Debt Office couldn’t sell gilts.
Seemingly there was no appetite for UK debt in spite of the fact that the oil was beginning to flow and the Tory three day week was history.
You are right DH cut public spending in 1976.
But guess what — he increased it in 1977 / 78 / 79.
The dead sheep / GH under instruction by Maggie cut public spending in 1980 / 81 / 82 and kept on cutting.
Even someone as limited as yourself can see the difference between these two events.
You might have been taken in by the piece of political sophistry put forward by GH.
However anyone who lived through this period — and is fair minded — will be able to help you understand the reality behind the Trot / Socialist Vanguard sloganeering.
And then you go on to talk about the problems surrounding the winter of 78/79 where on each telling — by a right wing press owned by foreign domiciled billionaires no less — the issues get worse with every telling.
No attempt to understand the influences in play at this time be it Detroit Big Auto needing the profits from “Treasure Island” / greedy skilled worker unions not happy with JC’s effective pay policy / half witted shop stewards desperate to hear the sound of their own voice / Tory supporting press out to cause trouble.
The winter of 78/79 — there is a story waiting to be told.
Unfortunately you are not capable of telling it.
Consequently keep on howling at the moon.
18YM @ 2.19
The 79 Nats were given a choice — and guess what they voted with Maggie to bring down JC’s government.
They voted for an election where they lost all but two of their MPs.
That is turkeys voting for an early Christmas.
And you have to ask why?
Why bring down JC’s very progressive government at that particular time to the benefit of Maggie rather than letting JC govern for another 6 months as the economy grew as the global position improved and the oil flow increased.
Why did the Nats vote for their own destruction — it didn’t make sense then and it certainly doesn’t make sense now.
i predict 3-0 tonight. Solid and with a clean sheet
anyone think we might stumble again? I really don’t think the squad have enough resilience to recover quickly if we do
#matchday #monthehoops
30 million for Glen Kamara!!!.
Somebody, anybody.
Oh ma sides.☘