After Celtic’s reversal in Astana I pinned the decision to allow Kelvin Wilson to leave after the Elfsborg tie as critical. It left us playing an unaccustomed central defensive partnership against Shakhter while generating only £2.5m.
Before Saturday’s game with Dundee United Neil Lennon suggested the player and his agent had been “naughty”, which might explain things.
It is not unknown for players to cite that they are “not in the right frame of mind” to compete for the club which pays their wages while there is an alternative deal on the table. This tactic is a certified banker for the player, who does not need to fail a fitness test, he just needs to look a bit down in the dumps. It is a shocking state of affairs which can cost their employers dearly.
I’m absolutely delighted to see the emergence of some interest in Celtic’s financial position over the last week. The club have long term loan agreements, an overdraft facility, and, at any point in time, cash on deposit. We have preference shares which, as long as the club attains certain financial covenants, will attract a dividend. At any point in time we also money owe trade creditors, utility companies, other football clubs and HMRC, but as you know, for 126 years Celtic have always paid their bills.
Our NET debt position at on 30 June 2012 was £2.77m. Since then we have had an excellent financial and footballing year. In 2005 UK accounting rules changed, re-classifying some equity categories and debt. In their 2006 financial statement, then chairman, Brian Quinn wrote:
“Under FRS 25 the group’s Preference Shares and Convertible Preferred Ordinary Shares, previously defined as equity, were reclassified as a combination of debt and equity; and non-equity dividends were in essence re-classified as interest. As a result, net assets were £3.8m lower, net debt £4.7m higher and interest charges £771,000 higher than would have been reported prior to the implementation of FRS 25.”
This was “hidden” away on page one of the accounts. Further details were published at appropriate places throughout the accounts. A video presentation was also given to shareholders and the media to explain the situation further.
Perhaps the word “transparency” should be used instead of “hidden” by some.
For further reading on FRS 25 see page 5 of this report.
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67 heaven
The more the MSM pretended …the harder the kick in the cobblers will be when the big hoose comes tumbling down again
They think its great just beating teams of plumbers and postmen 5-0 ….they can’t grasp that they are heading headlong for further ruination trying to pay for it
Bentley stalled at Spurs….classic case of too much too young
Bada bing
Get VP to take him down …ill cover the fare :-))
PFAYR
I can only speak of personal experience.
Without giving away too much personal information on a public forum.
I suspect that loans will be due to DD.
TT
Excellent news for us http://www.football-oranje.com/atletico-confirm-alderweireld-signing/
Player like David might attract interest from Europe,
Might Bentley go Continental?
BRTH
I am left Handed I will come and type for you, Hope you are not incapacitated for long
Anyone one got any info on the new Celtic Travel (taking over from Thomas Cook) that was due to start yesterday
Only reason for watching deadline transfer night is to see the anxiety on the faces of the reporters as the fans make signs behind them.
http://www.thefootballlife.co.uk/post/58170721789/spfl-viewing-figures-2013-14
TV figures for the season so far and the reveal that ITV will be showing Celtic vs Barca on 1st October Live.
Why have sevco only registered one of their trialists today goin by sky news, why not them all?
Arsenal end their interest in Demba Ba – Humbug
Bada Bing
£4 million for Kayal would be marvellous .
TT
BRTH,
Very sorry to read about your accident.
Stick with the physio when appropriate.
scotlands shame
Which one ?
I bet it was Law………
The rest are pish >}
HH
law is as well mind you >}
Tbj.
Yip ringtone sorted on my old phone…my old ringtone was “The last post” that wasn’t very popular with the hunchbacks either ;-))
We cannot afford to sell any more players .
No matter what is offerred.
….PFayr-I would have the motor running as well,injury prone and lost trust in him after 3-3 Rugby Park game.Would give Rogic and Biton a chance.If Kayal doesn’t play we don’t miss him IMO
At least we are not linked with any half wit EPL player at the last moment.
Peterborough chairman on Sky tonight. Lot to say for himself.
He was a Celtic fan until this weekend when we tried to buy Lee Tomlin.
Trying to Think of more Bentley puns is exhausting…
scotlands shame.
Does registering them meen he’ll get a wage now?
the exiled tim
20:43 on 2 September, 2013
It certainly has always been the case…..but it will get even worse as they try to give this second dying entity the kiss of life …… my only disappointment is that some of us will react to it all, which is just what they want….
TT
If the loans are owing to him it makes perfect sense
I thought as previously stated they were to the CO OP
Jim White’s Botox is under severe pressure tonight.
so i have to say this, its not often i am let down by some subject on this great forum, but today well, kind of sad to say i am.
so some italian ssn person is a bit of a looker,
and the saddest part…………
no one provided a name.
me and ally demand to know the names.
Seems the Peterborough chairman likes more clubs than Gary Player.
Seems he is a Liverpool supporter as well !!
Obviously a blowhard!
Arjen Robben Reliant
Reds losing 0-2
Have they registered Jon Daly????
BSR
It would appear that Arsenal are running around at the last minute trying to sign a striker – they have somehow lost out on their early targets…………..
Hmmmm………. where have I heard that one before?
TET
It was Law
I was expecting an immediate influx of pseudo trailists signing up …
Is there a restriction on how many can be registered at once ?
Paul67 et al
Mixed day on the emotions front, commemorating the centenary of Bill Shankly’s birth in Glenbuck, Ayrshire on the same day as the funeral service in Dublin and later burial in Bellaghy, County Derry, of Seamus Heaney, Ireland’s literary giant. Maybe dig out a poem later.
Well for better or worse we are not chasing a midnight sighting on the steps outside Celtic Park. Assuming we do not lose any of our own players. Do not see us any weaker in defence, or midfield, only real question is whether we are able to replicate Hooper’s goals without a direct replacement. Commons, Forrest, Samaras and Stokes are all off the mark and Derk looks like he knows the way to goal. Teemu’s first game as a Celtic player, will be against Spain on Friday, good few Barca players in that team, let’s see what he can do.
Just watching SSN on transfer day.Why did Celtic not say to Finnbogason to buy out his contract with Herenveen,as many have done tonight,then compensate him with a signing on fee,plus his bigger wages.That is of course if he has not signed for someone else.Just in from a bevvy session,but cant see a problem with this.
praecepta
Peterborough won’t like the way they conduct their business
Ohmni
Trying to Think of more Bentley puns is exhausting…
——————————
Slow down don’t tyre yourself out :o) boom beat that one
Interesting to note the recent batch of coordinated and well placed misinformation casting the tic in a bad light- the Lee Rigby lies- the opportunistic outcry over the apparent Muslim supporters club banner and now the financial bull- all attempts to smear us and create uncertainty within our support. I suppose its coincidental that the Polis/ SNP faction are determined to jail our supporters for singing republican songs- despite several previous cases being thrown out- another smear campaign. Who could be at the centre of such a campaign?
Googy
Do they need to register him every day :),
Financial transparency – So we didn’t know all the facts when we were getting ripped into Big Peter bloody liberty so it is!,