The January transfer window is set to burst into life today with the arrival of 21-year-old striker Patryk Klimala from Polish club Jagiellonia Bialystock. Celtic met the €4m release clause. The player has made 20 starts in top-flight football, among 51 starts in total. Half of his appearances have been this season, as he made his breakthrough at Jagiellonia.
He is older and more experienced than Moussa Dembele and Odsonne Edouard were when they arrived in Glasgow, so his lack of match time will not be a worry for Celtic. Both started promisingly and quickly improved. The challenge now is to replicate the development work achieved with those two with Patryk.
Even fully fit, it is unreasonable to expect Odsonne to carry the load during what is likely to be a three-month spell where we play two games a week. Patryk should get plenty game time during this period. He also gives us the option of playing two strikers, a phenomenon we have seldom seen since the departure of Moussa.
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Extraordinary article from Bill Leckie, 100% on the button, but you just don’t expect journalists to write that kind of stuff. Makes you think is there a hidden agenda behind it.
You don’t need to be paranoid to fit in here but it helps.
Corky,
It could be that they know there is no offer coming in for him and he’ll likely play out his contract and leave at the end to look for a sign on fee elsewhere.
So they’ve decided to try and domesticate him
SETTING FREE THE BEARS FOR RES. 12 & OSCAR KNOX on 14TH JANUARY 2020 9:49 AM
“To lose this title – our first real challenge since 2010/11,”
Aye! They don’t really count as s Title unless the Huns win it or are in it
——-
It’s entirely possible for both these views to accurately co-exist. I savour everything we win…. match, cup, league. And if we’re being objective, this season is the first where we’ve faced an opponent with a strong chance of winning the title.
HH jg
I don’t know why we’re hoarding cash, but we are and have been for a number of years. Cash in the bank is inactive, it ‘does’ nothing. IN a regualr business, excess cash is distributed to shareholders via dividend, but this isn’t a regular business and we don’t pay dividends (except the coupon on Pref shares – about £500k/year).
As a ball park, we’ve got about 50% cost cover sitting at the bank – that is, we could run without any revenue for 6 months on the cash at bank. That’s not normal.
There are a couple of possible reasons for the hoarding;
1) There’s a big plan hitherto undisclosed – I asked at the AGM a few years ago when we had net £17M cash at bank. At that time it was the highest cash balance since Fergus raised the dough to build the stadium. PL said it was accrued ‘in case we needed it’. We now have c£40 Million net cash.
2) The club has resolved to self-fund, with a view to running long-term without recourse to bank borrowings. This would require sufficient cash to backfill the seasonal low point, and factor for a significant collapse in revenue – say two years without Euro football. If this was true, there would be a value set, perhaps minimum and maximum values, and it would be reported as such in the annual report. As it is, beyond noting the balance, there’s no comment.
3) We just don’t know what to do with it all, and until we figure that out it’ll just sit there. That’s not as far-fetched as it sounds. Celtic have a wages ceiling, so bringing in a £200k per week player isn’t going to happen. Or for that matter, 4 players at £50K per week. The alternative to wages spend is transfer fees, which are capitalised. We can see that we are inclined to pay more for young talent than in previous seasons, and this is a core part of the business model, but we are not exactly carefree.
The notion (sporadically sighted) that PL is rewarded on cash accumulated is one for the birds. He’ll be measured on Revenue, Profit and Cash like every other CEO, plus a handful of other metrics, but in this respect, beyond sustaining debt-free operations, Cash is not value-adding unless linked to points 1 or 2 above.
In the round, it’s a mystery. If anyone has any other ideas, I’d be pleased to read them.
Canamalar, If that was the genuine motive, I’m not sure getting a journalist to write that article would help.
I was wondering whether it was aimed at softening the Hun reaction if he gets sold for 8 million.
Corkcelt. Agree to disagree. Peter lawell was brought into cut costs It’s in his nature
There are many different types of CEO, I have reported to many different types
Some come in. Tidy business up
And leave. That was peter before he came to Celtic at Eg Scottish coal
Thats reason he was brought in His sell by date was about 2008 when he should of left
This is not the 1st time PL has failed to invest
It’s not his business
A different type of CEO would be looking for return if investment , growth etc ( something that our club doesn’t do , similar turnover to 10 years ago. So not the genius that spin would have us believe )
As for cash reserves. It was mentioned in a report a while ago that cash reserves was one of his KPI’s So not tosh
No conspiracy. Just peter does not build a business that can grow due to his autocratic style and having yes men everywhere
Wots that?
No offers for Fat Charlie???
Perhaps the EPL “cracks” are just keepin’ their “powder dry”?
………………………………………………..
In ither news…………
I see the sleekit hun troll has been rumbled by a fair few on here last night.
Realistically, anyone referring to Ryan’s case as a “fondling” and then bold as brass to go on and bring up the
horrible, heart-breaking, criminal case around abuse in the sly but insistent manner he did drew sufficient attention.
We are in a dirty war with these peepil on and off the park.
HHH.
TBB. Excellent Post, you said what was on my mind, only a million times better than I could.
If you are giving lessons, I will sign up.
TBB
I think it’s 3 (for what it’s worth!)
HH jg
The Battered bunnet It’s item 3 and not as far fetched as it seems
We are basically not set up as a business to mange growth. Our football department is very low on experience
As another fan said to me today , we have the guy who used put our cones for BR now assisting Neil with tactics!!!!!!
We , believe it or not are now that successful financially that our business model is stifling our growth
We could afford 4 players on 100k a week and we still would be financially sound and we might have a better chance at CL qualifying and all that income
Funny that eh
In summary our business model of being controlled in all by PL is holding us back
TBB,
The value added IMO demonstrates to prospective buyers that the business is profitable and will provide good return on investment so making it attractive to all kinds of investors and buyers alike. That increases share value which increases the asking price.
Or they could be waiting for the much prophesied market crash but if that was the case then the big problem is going to be the value of the cash and they would be hedging in commodities, gold or bitcoin. Maybe they have and that’s why it’s just sitting in limbo.
Irrespective we can force them to tell us through a freedom of information request.
Realistically we may not win the SPL this year.
Realistically we may not get access to Euro funds next year.
Sensible to keep a few bob in the bank to cover that possibility .
The most plausible explanation, or perhaps the one we (some of us) want to believe the most, is that the cash hoarding is not so much our ‘rainy day’ fund but more for when we are given the green light to move to a new competition and having this facility available will give us a better chance to become competitive immediately.
Still, you’d think we’d have found a way to make it (or part of it) work for us rather than just sitting there.
HH
As you say Sydney we have to agree to disagree. Maybe there is symmetry in the fact we are on opposite sides of the Planet.
Cash Reserves are OK and as a Shareholder & a Celtic Supporter I would want my Club to have Cash Reserves and to be debt free, as long as we also have the correct product on the field.
However as TBB spelt out , we are gone beyond normal Cash Reserves territory, so yes I do think there is something else in play.
TBB
Great questions.
I can’t claim to understand the detail of fitba club management, but I’ll plump for option 3.
I think the CEO knows we have more than enough treasury for Scotland but given the escalation of the fitba finance world to achieve anything bigger is till outwith our reach. I think to over commit would prove this and fail to achieve both the fans and shareholder aspirations. In relative terms we’re minted but no’ really when you take the wider view.
Our nearest rivals are spending other peepils money and wagering everything on stopping the 10. ( They’ll live with the 9 I think, but the 10 would crucify thum)
What does it take to guarantee the 9 and the 10? Probably more money than we have.
HH
Lewis Morgan has agreed to sign for Inter Miami.
A good deal for all concerned – from Celtics point of view, come in be a success and we’ll let you go to EPL and 4X your wages.
Come to Celtic and don’t establish yourself and end up with a 4 year deal to play football in Miami.
Not bad at all.
HH
Corkcelt I just think it’s that our business is not set up to invest and our business model Closes the gap on the park to teams run as football clubs With massively less incomes than us that we seem to loose to on a regular occasion at Champions league qualifiers
Maybe we should pinch their CEO’s and give us a a better chance
Corkie
Sorry, I hadn’t read your post as I was scribbling my own at the time. We’re on the same page though, so to speak.
I’ve seen the notion about providing for compensation claims, but that doesn’t stack up either. Horrific as the child abuse cases are, I’m afraid we (in Scotland) compensate primarily for economic loss, not psychological or emotional. Even the most serious cases involving rape over a sustained period are awarded tens of thousands, not hundreds or millions. And in all of this, there are unknowns around duty of care/liability and the position as regards insurance.
If £1 Million was set aside for the purpose, that would be more than sufficient even for legal fees.
As for lessons, I run an egg-sooking class for female grandparents. I’d let you join but you fail the entry requirements :¬)
Bankie..,
I expect if we guarantee nine the their tea is out as they have spent their wad on stopping 9.
I don’t see how they could afford to stop ten since we would then be topping up an already decent team while they would have to go some just to match this seasons investment.
Win nine and ten will take care of itself
…..oh and I meant to add in something that has often crossed my mind.
At some point some considerations will have been given to the consequences of us doing the 10 and what it would do to the game in general, knocking out the huns in particular.
If the boot was on the other foot I don’t think Scotland would see it as cataclysmic – but the huns gone – different kettle of pish……….
Our shareholders must have at least evaluated the future cost of a ” Norwegian Blue” league set up.
SYDNEYTIM on 14TH JANUARY 2020 9:45 AM
Timaloy29. Very true about the jan window
Usually a emergency window
Shows up more the shambles last summer
___
I don’t think the summer window was a disaster. The squad Neil Lennon inherited required major surgery and was successful in addressing some but not all of our issues.
The previous January 2019 saw a few loan deals tide us over. Rodgers was off and there was no long-term planning in place.
The summer of 2018 was a disaster.
January 2018 was a disaster (Hendry and Compper).
We’re still recovering from those windows.
Canman………
Ye might be right bud, my thoughts ( fwiw) I think they have a two year contingency plan.
While we are reasonably transparent financially, we have no idea where their financial support is coming from and my irrational fear is that some Sky/ Media/ Big League backed beast wants to invest in a rejuvenated “Ibrox based franchise” to sell on an O&& F%%% fantasy…….
but I really have no idea (as evidenced by the my pish above!)
:)
HH
Off topic but very interesting move by Barcelona to bring in Quique Setien. His Betis team were great to watch with their games averaging a lot of goals, for and against. They seemed to reign it in a bit in the months before he left which ultimately cost him.
Was available last summer but don’t think he speaks much English.
If his Barca team play a similar style it’ll be compelling viewing.
HH
Bankiebhoy,
That’s a fair point and alludes to something bigger. I mean let’s be brutally honest here if we do not win 9 it will be because we never invested in the team when we had a financial advantage that. Hold guarantee it without any financial risk.
That in turn would actually impky malfeasance by our executive
Impky should read imply but it looks better
Syd, I agree with most of what you’ve written, but the continuing cat-calling of PL tends to undermine your argument.
This is a plc, and strategy is determined by the board collectively. The CEO’s job is to implement the strategy. If we don’t like the strategy it’s an issue to direct at the board, not the executive.
His performance in doing that is entirely within range though, and there are myraid things he might do/have done better – he’s got 15 years of triumph and disaster behind him after all. However, we can infer from his rewards package that the board is content with how he’s doing.
Canman – the value of £1 in the bank is £1. There’s no multiplier on cash in the bank. True, there’s a multiplier on cash generated annually, and that’ the basis for the standard discounted cash flow valuation method, but you’re supposed to use the cash to generate more or return it to shareholders, and we don’t do either, hence the anomaly.
Bankiebhoy, Jamesgang and others – I’ve been stuck on option 3 for a few years now.
Canamalar
I can see your perspective.
The optics of failure in this would be unforgivable….and I suspect you will disagree with me on my perspective – we set ourselves up to play the game in Scotland / scoddland with a fairly straight bat…..however all around us we are confronted by hand-shakin’ enemies or better as The Tontine Tim says ” knuckle-rubbers”
It’s a mis-match from kick-off to Final Whistle. The Game’s a bogey……
I’m surprised we’ve manged to win what we have already and I’m grateful for it.
My last thoughts are that the Club owes it to all and those who have come before us to secure 9 and crucially 10.
Failure to achieve 9 and 10 will however achieve removal of the current Executive.
HH
TBB,
Are you saying they cannot have good in the bank with a cash value?
SIEMPRE CELTIC (FORMERLY TRADITIONALIST88)
Re-Barca: Quique Setie style of football could mean the end of Busquets, Alba, Piquet and maybe a couple of others, I dont think they have the legs anymore to play the way he wants, por cierto.
Rumour has it we’ve just signed a number 9, the in-form, French crack,…………… “Impky Malfeasance”
:))))))
Gold
😃
POR CIERTO on 14TH JANUARY 2020 11:13 AM
True – don’t think it will be possible to make wholesale changes right now to personnel so will have to play to their current strengths as they have a serious challenge this season. Still, with the talent they have I suspect he will play a more expansive and exciting game than Valverde,
HH
game=style
Whatever about Impky Malfeasance what about Polish Paddy. White Smoke please Celtic.
If Celtic close the year with – say – £40 Million cash in the bank while the league trophy sits on the boardroom table in Ibrox, there won’t be a desert island remote enough to save PL and the senior leadership at Celtic. The fallout would be catastrophic.
I don’t doubt that this is recognised by PL and his team, and while the chance to make history is compelling, the risk to corporate, professional and personal wellbeing of blowing it at this point does not need reinforced.
The performance of the current Celtic team is ‘good’ by any standard measure – points won, goals scored, goals conceded, Euro results. Any other season and we’d be pretty pleased with it all.
The problem is that Sevco now have a team which predictably beats all other runners in the league. That’s as much an issue of the quality of opposition as the quality of Sevco’s team, but they’re winning virtually every week, and we cannot influence that, (although I did suggest we loan some good players to Aberdeen and Hibs).
If the second half of the season plays out like the first, the title will be decided on the remaining two derby matches. If anyone has any sure-fire way of guaranteeing a win in both of those, I’d be pleased to hear it. I’d take wee Messi plus Suarez and Salah on loan, mind you, but we’re now in the realm of trusting good judgement and good process to deliver results irrespective of how luck or ‘influence’ plays out.
Canman – cash, gold, premium bonds, it’s all the same. It has its value printed on its face, and no more than that.
When you buy a business you determine the working capital requirement and any cash over and above that is given to the shareholders before the sale. There’s no point ‘selling’ or ‘buying’ the cash in the bank as it’s worth no more than its sum.
TBB
“When you buy a business you determine the working capital requirement and any cash over and above that is given to the shareholders before the sale. ”
Just the preferential shareholders? Is so, then that strentghens the selling up arguement, does it not? por cierto