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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Pauloantony
Dont let facts get in the way of a good argument
Turkeybhoy
I tell you I wish I was as witty as you!!!, your wasted on here, should you not be on the telly with that kind of witty patter???
sandman
It’s a sad state of affairs when one section of society have to be tiptoed
around to save mass destuction…just jail the bastards.
pauloantony
If ma granny hid baws………
CRC
Me and mrs j were just admiring his hair the other week. He is always in our thoughts and prayers. God knows what is going thru his wee mind. So traumatic for the family. God bless x
Sandman
23:42 on 2 September, 2013
He only said what he said to avoid Celtic fans being murdered?
Really?
‘I couldn’t possibly comment’ would have sufficed.
Canamalar :
My apologies for harping on about that, I have read back ( while searching for your comment) and now see Chairbhoy dealt with that those “maximise” comments from yourself and others. Must be the water in Wycombe that gets us down here :-).
Sandman
You are right of course
But you wont convince anyone
Four legs good,two legs bad
.
Bourne..
When l read:Rangers IS a Great Club..
I thought it was One of Ole SydneyTims now Legendary ‘Quotes’ that he Found on the ‘Internet’..;-(
Summa
society,should have been brainless hun scumbags….sorry.
ernie lynch
Seriously……..is there anything positive you can say about Celtic? …..seriously
Calabam,
You no got a bed to go to :oD))))
Canamalar
Hows life over there?
Why dont we bomb the company’s in this country who are supplying the nerve gas to Syria? Exporters of death!! Hang the bastards!!!
I wish everyone would stop the bitching about the board.
It makes me feel like a happyclapper-and that won’t do!
Just think bhoys nd ghirls, we have another two weeks without proper football……that means another couple of weeks of fighting with each other……..get in there…bring it on >}
HH
canamalar
naw dez pissed it hehehe
The absentee Landlord has an interest ing past if any of you boys check him out. Telecom eirean is one business deal he did well to come from nowhere under Charles haughe y to win government deals and business!!!
In Spain the worlds supposed greatest leagueCeltic have spent more money in this window than :
Almeria
Catania
Celta Vigo
Elche
Espanyol
Getafe
Granada
Levante
Malaga
Majorca
Rayo vallecano
Real betis
Real sociedad
Real Valladolid
Valencia(we spent the same amount)
Villarreal (spent £1.5m more)
Barcelona(take away neymar deal we spent more)
Sack the board lol
Canamarlor :
As part of that searching back, I also saw that it was Mike you where backing up, didn’t realise till now. Just after I read your last post :-(
I thought no one had made the point it wasn’t a legal responsibility, I now see I was mistaken and Chairbhoy had made the point rather well already… and as he’s also a wycombe bhoy.. I best buy him a pint :-) Apologies if I seemed argumentative.
Paolosboots
Desmond and Haughey
Ah yes,now theres a story
pauloantony
Knowledge is power!!! dont think that will win us any games all the same,
Wits if you the history!!!
Drip drip drip little April showers, heard you like a good piss up, titter yea not, there’s a name for them kind of shenanigans :oD))))
Chortle chuckle guffaw
pauloantony
23:54
Sorry, but this is to misunderstand the situation in Spanish football. A lot of clubs are really struggling financially and have only done Bosman-type deals. Almost all of the ones you list are in this situation. Some have suffered recent insolvency events. One of them is actually in Italy.
Good night all
thank you for being here :)))
BMCUW happy clapper sounds awe right tae me :)))
What is the Stars
I am quite sure the terminology”Twat”transcends any international boundaries.In fact,over here in Turkey,we have quite a few Irish “Twats”,as we have quite a few Scottish “Twats”,probably,some people think I am among the latter.We also have Dutch,German,an innumerable amount of English “Twats”and so on.Did I offend your “Plastic Paddy”personna?.Apologies from someone born in Scotland with a proud Irish father.
What is the Stars
Whats the Jimmy there??
31003
23:48 on 2 September, 2013
‘ernie lynch
Seriously……..is there anything positive you can say about Celtic? …..seriously’
######
I don’t think I’ve ever posted anything negative about the players or the team.
I’ve posted criticism of the board and officials where I think it’s appropriate.
And on occasion I’ve posted in defence of the board and officials where I think it’s appropriate.
I suspect your reading of my posts is subject to an element of confirmation bias.
Whats that name then? I am right in saying if anyone knows its you? what time is it there? you not had the pump yet?
With all those Spanish clubs broke why couldn’t we have found a playmate there?
Oops playmaker !!!
Turkeybhoy
Plastic Paddy Persona
Curiouser and Curiouser said Alice
LEFTCLICKTIC
Happy being a Middlegrounder….
In Spain the worlds supposed greatest leagueCeltic have spent more money in this window than :
Almeria
Catania
Celta Vigo
Elche
Espanyol
Getafe
Granada
Levante
Malaga
Majorca
Rayo vallecano
Real betis
Real sociedad
Real Valladolid
Valencia(we spent the same amount)
Villarreal (spent £1.5m more)
Barcelona(take away neymar deal we spent more)
In the bundesliga Celtic have spent more money this window than:
Augsburg
Bor. mgladbach
Braunsweig
Eint Frankfurt
Eintract
Freiburg
Hamburg
Hanover
Hoffenheim
Hertha Berlin
Mainz
Nuremberg
Stuttgart
Werder Bremen
Sack the board
Night all. Night Oscar, with you in your pain. God bless x
Ok playmates there aswell so…u