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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TET it was law, wonder why no others officially signed. Strange but don’t really care just hoping it meant more bad news but no doubt its just another way of circumventing the rules while claiming that been punished enough.
malorbhoy
21:20 on 2 September, 2013
It’s yours…..young fella
Emdy posted that article on Sevco.co.uk about Forces Sauces?
In the name of the wee man……
The Legend Johnny Doyle
21:06 on
2 September, 2013
Ghuys
Just back from Santa Ponsa
I’m going there on Thursday, any pubs likely to show the game against Hertz?
BSR
Catchy wee song
turkeybhoy
21:23 on 2 September, 2013
Would suggest you drop ‘bhoy’…..LOL
Hunbelievable, that’s what I’m finding it for anyhun that puts our Club at the mercy of any profit driven philosophy, obvioisly we have many among us that would sell their granny for a buck, for whatever reason they seem to think advertising their politic is currently acceptable, the same clowns who for the sake of a cohesive argument condemn political discourse, we should simply accept our club will never be used for anything other than corporate profit and should be thankful the corporations found a return, hmm
67 Heaven
You are a Star
Hail Hail
If the deid team have registered only 1 of their trialists, could it be that the predicted administration is imminent?
Evening Celts,
Any advice on accommodation for Amsterdam for Ajax game, been before but I was staying outside Amsterdam and would like somewhere central, any advice gratefully received.
V
Not read all todays posts but don’t see any regards Wilsons scam to get back to notts.
Where did p67 get the info
Prestonpansbhoy
Steins Bar in Santa Ponsa shows all Celtic games it is down behind Mrs Murphys kitchen used to be called the canny lad , and my cousin owns it
Sorry bhoys, I got a little carried away there with the puns.
A lot of you have more taxing matters to discuss.
I can insure you it won’t happen again…
Malorbhoy.
You have mail.
….PFayr supports WeeOscar
Clubs of the stature of Arsenal and Man Utd need their erchies kicked for scrabbling about in the transfer market in the fashion they are doing this evening
As for Everton …all Martinez seems to want to go is sign Wigan players …players who go them relegated last season ..hhmmm
==========
It’s a bizarre trait of new managers, sign up players from their old club.
Everton at a 6th placed team at best, signing players from a relegated Wigan isn’t going to improve them.
Likewise Man U win the league and Moyes thinks signing 2 players from Everton is going to improve them.
Sure there’s always the odd exception but generally it’s poor play.
Malorbhoy.
I’m looking for a couple of tickets for Amsterdam also.get your begging hat on again.
Malorbhoy
21:30 on
2 September, 2013
Good man, I’ll find that one, while Mrs Prestonpans is shopping :)
THE BOY JINKY
Pretty sure “The Player” in 4-4-2 did an article this month on scams to get out of a club.
Perhaps either Paul67 or Kelvin read it.
No word of Baines going to Man utd. Means we probably wouldn’t have got Buttner anyway.
Turkeybhoy
“Thaks Kayal.I cant believe how many fans on here today are showing their true colours.Bean counters.”Are we paying dividends””Is anyone making money”
Are you suggesting that this topic should never be discussed?
Are you suggesting that today is a particularly bad day to raise the topic?
Are we allowed to discuss anything that isn’t narrowly within the football range?
Did you read any of the posts you are criticising? If so, did you gain the impression that people were fascinated by the money or were concerned about its effects on our playing ability?
Are you aware of why this blog started?
I would courteously suggest that it may be time to engage neck-winding-in gear.
Vmhan – YNWA Wee Oscar
21:29 on
2 September, 2013
I stayed here for my 40th although it seems to be even more expensive 10 years later………..
http://uk.hotels.com/ho123513/park-plaza-victoria-amsterdam-amsterdam-netherlands/
Sipsini
There are about three or four shops in argyle st at Finnieston st. Check with them all as they vary greatly in price for screen repairs.
Ozil of the Arsenil
Oldtim
I’ve got quite a few business contacts in Holland. I’ll call tomorrow and see if I can get a few, but they’ll probably need to be for the main stand areas since there won’t be any celtic end tickets I don’t think. If you’re interested let me know.
Oldtim
Mail back to you
Prestonpansbhoy
It’s his first year with the pub you can find the info on Steins Bar Facebook,
TBJ
Wilson was a real enigma for me …first season awful …really improved second season ….but persisted in making real howlers…often muscled off the ball …
The timing of his sale was mental …with no on form CBs for the CL qualifier
However …we qualified and got £2.5m for a player I never really trusted …..despite my protestations at he time I think it ended very well
The Legend Johnny Doyle
21:06 on
2 September, 2013
Ghuys
Just back from Santa Ponsa
I’m going there on Thursday, any pubs likely to show the game against Hertz?
The Celtic Well in the Square shows all the Celtic Games. Thats me at the start of the you tube video just after the Karaganda game on wednesday :) enjoy
http://www.youtube.com/watch?v=f7xOrQ9Bcqs
vmhan- we were in Amsterdam last month, stayed at the Ibis Amsterdam West, a bit out the way but a mere 10 minute train journey to Amsterdam Centraal.
Maybe not your ideal choice but modern, spotless and good value for money
Bmcuw
I think a few people in my work read that article. .. in fact… i think they wrote it
Prestonpansbhoy.
If the bhoy is anything like malorbhoy you will be in for a treat..
The Ajax chairman must be getting it in the neck worse than PL did..4th high profile player sold. Toby Alderweireld sold to Athletico Madrid..good news for Celtic.
They must have good youth players ready to take their place. That’s what Celtic should do more, this season should see at least 3 of the best from youth blooded in SPL to see who can be 1st team material. There will be a gem or 2 in there if given chance.
THE BOY JINKY
Lol…..
oldtim67
21:32 on 2 September, 2013
Watch this space….
Turkeybhoy – so our club was in collusion with the sfa to close the transfer window early.
Explain how/why.
JD
Loving the yt clip. .. cant beat a celtic celebration
67 heaven that is incorrect – I dont have the details at hand but we had a huge debate about this at the time.
lee tomlin the subject on sky..his manager slaughtering Celtic for email his club with derisery offer for his player on the morning of a game,six weeks earlier they showed their interest again by email..bigger offers were made by other club..manager none too happy lol
Twists N turns.
It’s my niece and her pal that want’s tickets to go, and I think she would rather be in amongst the bhoys. I could be wrong, but I’ll ask her.