I caught a bit of yesterday’s newspapers; the contrast between an article in The Herald, linked from the Quick News section, and one elsewhere was stark. It brought to mind a very politically incorrect cartoon depicting a conversation someone trying to explain the consequences of a football club getting into vast amounts of debt. “You don’t have the intellect to understand what is happening” was the active line.
This far into actual news [def: hard information about a subject] on how Rangers were being run by the board in charge prior to Craig Whyte’s takeover, some are still flogging “EBTs were legal”, “No one complained about EBTs at the time”, “Juninho had an EBT”, as though somehow any of this was in doubt or relevant to the question.
The only show in town, to use our favourite phrase from last season, is ‘Were players illegally registered?’ You can pay them in cash, by EBTs or by boatloads of bananas, you can pay them when they were playing, before they were playing or after, the timing makes no difference whatsoever, but did you record all contracts or did you hide dozens of contracts from oversight?
Anyone who, this late in the debate, is blabbering on about EBTs being noted in Rangers annual accounts either doesn’t have the grey stuff to grasp the point, or somehow believes they can knowledge manage their readership. “You don’t have the intellect to understand what is happening”, is perhaps the message they are sending out.
402 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- »
When you break it down , we are losing 8.25k a day, or have I got the sums wrong ?
Mort
My view is that Celtic cannot grow and will retrench unless other ways can be found of sharing the load across the full range of the support to allow each to contribute according to their means. We depend too much on home SB sales.
I stand in awe of the sums some folk spend on supporting Celtic and I have just sent an article to Celtic Underground expanding on that perspective and pointing to the Overseas Season Book as an example of the kind of thing that could be done.
Why limit it to overseas? Many in the UK cannot travel but want to do their bit.
It is possible of course that we have reached saturation point across the support spectrum as a whole. In many ways the response to the OSB initiative, whether that be in take up or what folk would like to get in return for their support or other ways of contributing to keeping Celtic in the upper tier of European football (we will always be great as a movement) is very important but we are in very difficult times and imaginative solutions are needed.
Auldheid
These figures go to show just how much money the Celtic supporters put into the club, from ticket sales and merchandising.
Other revenue streams are on the decrease (although CL money this season will be a timely boost).
Even if supporters continue spending at a similar level, the club will need either a good run in Champions League, or to sell a player or 2 each season just to keep stable.
Mort
‘the Corp Hosp division is not selling out’- what happened to the ole gazebo money?
THE EXILED TIM
16:32 on
18 September, 2012
When you break it down , we are losing 8.25k a day, or have I got the sums wrong ?
It’s £19,178 a day. (excluding VAT)
BlantyreKev
I sure do have the sums wrong.
Worse than I thought.
I assume we will pay the Vat :>)))
In the close season we let go
Cervi
M. Wilson
Cha
Loovens
Mastorovic
Juarez
McGinn
O’Dea
Thompson
Brozek
Rasmussen
Now I’d guess that they averaged about £10k a week, so thats £110k in total and thats not that far off £6m a year (or roughly the lost 10k season tickets cash).
We’ve also sold Ki bringing in £6m and saving probably about £1m a year on wages as well. Next year we’ll have the CL money and have hopefully qualified for the cL next season as well. We’ll also more than likely sold Big Vic, for the same if not more than Ki.
I think we’re back on an even financial keel
Does anyone know the value,to the club,of our games in the USA.Do we go just for the match fee,or do we take the opportunity to sell our club ie merchandising.
My view is that if we increase our profile,over there,is firstly start winning these games,create an interest,then introduce a membership scheme IMO we are missing out big time in various countries,the world is now a smaller place,we need to start thinking bigger.HH
BB
I blame EDB
All revenue generated by the Gazebo is reinvested in the Gazebo over the business cycle. (The business cycle was acquired during a sale of delapidated football memorabilia during the summer)
Auldheid
16:33 on 18 September, 2012
Could I be so bold as to suggest that the revelations about the lengths some Celtic players and staff are prepared to go to in an attempt to ‘minimise’ their tax liabilities might discourage an element of the support from throwing more money at them?
danso_1888
That is exactly how I feel.
If it is the Celtic Experience that is important, then let the club diversify into another realm of sport.
Basketball, GAA, Cricket. Anything, but to continue to operate within an unreconstructed Scottish football system, is a betrayal of generations.
No matter what Auldheid counsels on the other issues that tie the club, as apart from the freedom of the support to act, what line does the club draw?
People have abandoned political parties and even marriages when they have found a situation within these institutions to become incompatible with their beliefs, so, what is the pull of a football club.
I sincerely hope that it doesn’t become nuclear for us, but, Celtic have to adopt the Bob Kelly approach in this and put integrity in the front line.
If it was good enough for Extensiongate, it is surely good enough for what is going on now.
There has to be a move from Celtic shareholders, not directly involved in the club, to present a legal case to UEFA, impeaching the Scottish Football authorities.
The evidence is all there.
Failure to act is to be complicit.
DC or BC.
If it hadn’t been for the Ki sale the Gazebo may have been released on a sale and brattbakk.
BlantyreKev
I make it £20,191.78 per day.
HH!!
TBB- is that the St Etienne business cycle?
ernie lynch
yep, that’s the reason for the drop in revenue. Supporters are boycotting the club because some attempt to minimise tax liabilities.
Mort
I think the accounts released are the tale end of the long term plan to get Lennoxtown up and running and produce our own players. I am pretty sure it has been mentioned on here before maybe even by Paul67 that Celtic invest a huge sum into scouting and their youth academy.
Onwards and upwards…
fanadpatriot
I don’t disagree, but how do we maintain the interest of a potential new supporter in the States when kick off for half of our games is 7am their time? We know the ex-pats will be in their CSC’s but what chance have they of bringing along a friend or 2 at 7am on a Saturday or Sunday morning!
Saturday evening SPL kick offs for TV? Experiment while theres no huns?
HH
ernie lynch
16:41 on
18 September, 2012
Auldheid
16:33 on 18 September, 2012
Could I be so bold as to suggest that the revelations about the lengths some Celtic players and staff are prepared to go to in an attempt to ‘minimise’ their tax liabilities might discourage an element of the support from throwing more money at them?
……….
Oh FFS!!!
Dontbrattbakkinanger
16:43 on
18 September, 2012
TBB- is that the St Etienne business cycle?
oui je mappelle etienne.
i frippin hated French at school
SoT,,Mighty tim,TheGreenManalishi-Thanks for replies and duly passed on.
AS everyone looks ahead to an exciting season, domestically and in Europe, Celtic’s strong foundations will stand the club in good stead for the challenges that will face Scottish football in the future.
Speaking today to the official Celtic website, Chief Executive Peter Lawwell reflected on the club’s annual results and what it means in the short and long-term.
The results show a slight decline in turnover to £51.34million, an increase in operating expenses of £1.93m and an overall loss in the period of £7.37m against a very slight profit the year before. The level of debt has risen from £0.53m in June 2011 to £2.77m in June 2012.
Peter Lawwell said: “You can see that we have registered a loss, to June 30, 2012, of just under £7.4million. Now that loss, we could have eliminated if we had taken the opportunity to sell one or two players in January and cut the wage bill, but our main priority was to win the SPL and hopefully give us a pathway into the Champions League, so we made a conscious decision to keep the squad together, not to sell, and to keep a level of investment in the wage bill. Thankfully we won the SPL, which is great credit to Neil and his team.
“We were able to make that decision because of the financial strength that we’ve built up over the previous years, which put us in a very good position, and you can see that – that’s reflected in our debt.
“Although making that loss, our debt level is still under £3million, which is very comfortable for a club of Celtic’s size and revenue streams.
“In terms of our planning, and our scale, we would be comfortable with that level of debt and, of course, going forward, with a successful transfer window in terms of player trading, the fact that we’re now in the Champions League, that becomes even more manageable.
“It was a fantastic achievement to win the league last season, for the first time in four years, and it was really critical for us to do that. And then, over the summer, there were fantastic performances in getting us through to the group stages of the Champions League, winning every qualifier to get us to this level, where the club should be.
“Neil and the players have done superbly well to get us to this stage, and they deserve enormous credit for their efforts.
“This is where the profile is, the exposure is, and we’ve managed Celtic as a Champions League club over the past few years and this is where the club deserves to be.
“There is a real unity at the club, from the board, the management team, the supporters, and in really difficult economic times, they’ve come up to the mark again.
“There was a fantastic renewal of season tickets campaign. They’ve also snapped up the Champions League tickets, and I feel that our fans deserve to be in the Champions League and have that excitement.”
As well as keeping the squad together and maintaining a level of investment in the wage bill, the club has also made a considerable investment in the football infrastructure at all levels. This long-term plan is now beginning to show positive results.
“Five or six years ago, we took what was a brave decision to take some money out of our first-team budget and invest it in the facilities at Lennoxtown, our recruitment, sports science, performance analysis and, of course, our Academy,” the Chief Executive explained.
“And we’re now beginning to see the green shoots of that strategy beginning to come through. We have a young, ambitious, energetic management team. We’ve got a young and exciting squad with considerable value.
“We’ve got an Academy now which, though it’s early days, is beginning to look as if they’re producing players for the first-team, and there are three of four players that are around the first-team at the moment. So that is beginning to show positive signs, which is really satisfying for everyone at the club.
“Looking forward, there are huge challenges that are still going to face Scottish football but we’re in a pretty decent place. We’ve got a strong financial foundation to take those challenges on.”
There are three strands to the way Celtic is run. On the football side of things, the club aspires to excellence on the field. The commercial arm of the club aims to optimise opportunities to feed the football side, and then there is the charitable aspect, which goes to the very heart of why Celtic Football Club was formed.
The level of charitable output, particularly during a tough economic climate is something that the Chief Executive believes everyone in the Celtic family should be very proud of.
“We’re really delighted with the way Celtic Charity Fund has grown,” he said. “We’ve re-arranged and re-organised the trustee board, and if you look at the club at the moment, we’re doing more for our charity and social projects than we’ve ever done in our history, which is really pleasing.”
As for the future, the immediate focus is on the visit of Benfica to Celtic Park this Wednesday night. The stadium is guaranteed to be packed for that game as UEFA Champions League football returns to Paradise.
And the positive feeling engendered by the team’s success in reaching this stage of the competition is felt throughout the club.
“The club’s in a decent place and we have built up over the past few years,” Peter Lawwell said. “We are in the Champions League and we have a great foundation, a great basis to take the club forward. There will be challenging times ahead but we are prepared for that.”
Could EBts be the way forward?…after all they are not illegal….I think we should explore this..after all if its good enough for the SFA el presidente.then……..hold on……….wait a minute
DBBIA
You don’t miss much. The St Etienne cycle is similar to the Rankine cycle, although considerably less thermo-dynamic, thus it doesn’t chill the sherry quite so well.
Just think how good our accounts would have looked if we decided to disregard the common practice of paying PAYE/NI and VAT to HMRC.
Mort
For £50 it disnae look that great tae me.
; > )
http://celticsuperstore.co.uk/stores/celtic/products/kit_selector.aspx?selector=498
Saint Stivs.I détestait français à l’école aussi, j’étais ordures à l’
Allez les celtes!!!
HH
From the “And we think Scottish refs are bad” files:
In the NFL because of a contract dispute they are using replacement refs with experience in college games, etc. This has caused a fair few strange decisions.
LeSean McCoy of the Philly Eagles was today quoted as saying that a ref had told him he had to play better as the ref had him in his fantasy team.
12 quid furra perra sox !!!
“Looking forward, there are huge challenges that are still going to face Scottish football but we’re in a pretty decent place. We’ve got a strong financial foundation to take those challenges on.”
Interesting…
HH
I used the wrong figure…Doh !!!
miki67
Not sure why we need another black kit!
Mort
Betcha Celtic are the first sports related article on STV news tonight before their beloved Sevco!
SPF
Embdy seen Dale Winton recently?
!!!Bada Bing!!!
Crosslands used to be good but it’s not as good now. The quiz was legendary.
But your lad is spoiled for choice as there is many a boozer around him. The Bell is arty and a tad over-priced, Black Rabbit the same and I really like the Wise Monkey for their fabulous selection of strong lager and food. All on Great Western Road and within stoatin’ distance.
thomthethim,
its my opinion and its only and opinion [or feeling]that our
leadership will not take the stance which i and yourself and
many other’s would like because of money, i accept i might be wrong and will make my profound apology in this forum and will
accept any abuse that might come my way and deservedly if i am wrong,first and foremost no ceo is gonna take a stance if it effects his salary, likewise any paid director’s and this is
why i feel we will not take a stance, like i say its just my
opinion thats all.
So the anniversary kit is all black then?!
Should sell well in New Zealand.
HH!!
Does this mean the bhoys in the ole gazebo are putting it on a care and maintenance basis only for the year ahead rather than the full refurb ?