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Knowledge resistant fans

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By on CQN BLOG & Comments

I see some confusion online regarding the submission of football club accounts.  All clubs have to submit annual accounts to Companies House.  In addition, Celtic issue interim accounts to shareholders and publish them online.  Newco’s annual statement for the year to 30 June 2022 was submitted in December (they made a small loss).  They are not obliged to submit interim accounts and commercial sensitivity reasons are good enough to inhibit publication.

Douglas Park stepped down as Newco chairman yesterday, making way for his deputy, John Bennett.  Newco have been dependent on shareholder support since their inception.  They gave the impression of surviving hand-to-mouth om 2021, a year which saw 11 share allotments – almost but not quite one per payroll run.

A successful run in Europe last year, coupled by Champions League group stage qualification and upwards of £30m earned in transfer fees, reduced the number of times the club had to go to the shareholder well to just twice.  Despite that boost in income, 2023 has already seen two share allotments. I expect more to follow – if they can find a shareholder ‘clever’ enough.

Share issues can keep the lights on, but Uefa’s Financial Stability Regulations means there are limits on how much of this money can be used for football purposes.  Newco have reached those limits and must now live within their means or forgo European income.  Even an actual ‘billionaire’ new investor could not spend money on football operations.

Living within your means is a 19-year-old mantra on CQN.  It is neither easy nor popular – there is a reason our board didn’t buy the bling some craved.  Football fans are entitled to want their team to improve without being required to learn about finance.  In this respect, even fans who should have learned the harshest lesson, seem ‘knowledge resistant’.

To resolve their problems, they need to win the league and automatically reach the Champions League group stage, or again succeed in the qualification rounds – a steep ask.  Alternatively, they could sell talent.  Park will know what chances the club has of achieving what is required on both these fronts.  You may be inclined to see his departure as an indication of confidence.  The actual only way out of this is a Celtic collapse far greater than they temporary on-field disasters we experienced in 2020-21.  That is the only strategic game in town.

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  2. Scaniel on

    HT 1-0. Davidson and Brooks the standouts. Big left winger ( Cummings?) could be a turn but getting starved of service. Has taken a bit of punishment from cloggers though.

     

    ST STIVS. Think Spartans would still top the league.

  3. bigrailroadblues on

    David66

     

    Put him in a cab about 10 minutes ago. No guarantee he’ll stay in it to Toryglen. I despair about you silly young fellows.

  8. Scaniel on

    2-0 to The Good Ghuys …. From a corner. Think it was Davidson. Big number 11 moved to centre forward-à la Yogi – and it’s made a difference.

  15. BelmontBrian on

    D66

     

     

    That’s what I said to Mrs BB, why as late home from the Shipwrecks last conclave. :)

     

     

    Nite Y’all

     

     

    Stay classy

     

     

    Brian

  19. Scaniel on

    FT 2-2. Honestly, that was ridiculous. Must have had 90% of play. Went to sleep for 5 minutes and were mugged. Carse gets pass marks second half.

  20. leftclicktic on

    Scaniel thanks for updates, saved me checking score every 2 mins.

     

    Goodnight all Thanks for being here.

  23. Burnley78 on

    Can’t believe after playing as they did to win on Sunday the. Team have blown it again against a really poor Dalbeattie team.

     

     

    I know it’s only the lowland league and I really do like all that Spartans Club is about so hope they do well but the chance to win the league was there for the reserves and we blew it.

  24. Timbhoy163 on

    I wholehartly apologies for the bad language I have used on here ,,but I was raging for being unsuccessful in the ballot for the semi final against Sevco ,and I am very sorry if I have offended some of my fellow Celtic Supporters.

  27. bankiebhoy1 on

    The Swearies have no place in The Dear Green Place……………..

     

     

    Hunnish…..

     

     

    Or more suited to the smaller fringe sites.

     

     

    HH to all who post, lurk, flirt or multi moniker here!

     

     

    Aye.

  29. bigrailroadblues on

    Night night my favourite eejits. Who will get banned/deleted tonight? Answers on a postcard. 😂

  30. Scaniel on

    BURNLEY78

     

    Yes, they really did blow it big time. Dalbeattie were awful. Didn’t have a single attempt, or attack even, in first half. Weren’t any better in the second but got lucky. Our crossing was very poor, so we didn’t even create any real goal scoring opportunities. A couple of tame efforts towards the end but that was it. Only Brooks, Carse and, to a lesser extent, Davidson worthy of a mention.

  34. Prestonpans bhoys on

    CONEYBHOY

     

     

    Mibbie he did see that comment last night……

     

     

    Anyway very offensive symbol – be careful 👀👀

  35. ‘GG on

    Deniabhoy. Much earlier

     

    If we have to lose or draw one game, let it be the Ibrox one.

     

     

    I agree. 3 points on Holy Saturday, even if gained by a single goal which is afterwards judged to be an offside missed by VAR, will end the title race.

     

    A 3 or 4 goal margin in our favour will kill their cup game confidence and probably cause the cancellation of a large number of season book applications.

     

    Player will need to be sold to keep the lights on, the good amount in the kitty 🐈‍⬛ will disappear and Beale’s search will be restricted to Bosmans and bargain basement youth players paid for by share issues and squad reductions.

     

    Does Paul predict a GOD still? Or are we still in it?

     

    Of Course we are.

  37. David66 on

    Good morning cqn from a dry at the moment, but damp underfoot Garngad.

     

     

    Bring on 4.30pm today when I finish work and start what will be a greeeeeaaat easter weekend.

     

     

    D :)

  38. Big Jimmy on

    BIGRAILROADBLUES on 5TH APRIL 2023 5:46 PM

     

    Big Jimmy

     

     

     

     

    That’s enough

     

    ………………….

     

    Who asked you anyway ?

     

    LOL

     

    HH

  40. David66 on

    Maundy Thursday – today I remember when I worked in Royal Mail we got a half day Annual leave for this day.

     

    Wonder if any other company’s done this or if it is still a practice anywhere?

     

     

    D :)

  41. Big Jimmy on

    DAVID66 on 5TH APRIL 2023 9:16 PM

     

    Cheeck out this mad

     

     

     

     

    song:

     

     

     

     

     

     

    https://youtu.be/9Gc4QTqslN4

     

     

     

     

     

     

    Bird is the word

     

    …………………..

     

    Pure Mad Mental Song Mate.

     

     

    I prefer the Glesga version ” BURDS are the Word”.

     

    LOL

     

    HH

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