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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Summa of Sammi….
02:38 on
3 September, 2013
The Green Party are red.
The only sustainability they are interested in is Marxism.
Lee Rhiannon .Check out her provenance.
Adam Bandt.Ditto.
Entryists.:-)
macjay –
Come on man.
The “Reds under the bed” nonsense went out with Elvis.
Are you really that frightened of the bogey man?
Summa of Sammi….
02:38 on
3 September, 2013
Fidel started in`59 .Just after Elvis.His brother,Raul, still rules Cuba.
Venezuela and Ecuador languishing under Marxist dictatorships.
I fear totalitarianism.Whether of the right or left.See China.
History taught me that.
“Entryist” was just a throw away line to have a laugh with Summa.
All I look for in politics is an open and honest agenda.
That`s not what you get with the Greens.
Clive Palmer and the guy with the bunnet………The local equivalent of Screaming Lord Sutch and the Raving Loony Party.
Sorry ,Tom.
Comment at 6.09 intended for yourself.
Caught up with the latest from the Knox family, puts my life and that of being a Celtic supporter in true perspective today
All my thoughts with the wee man and his family
Good morning friends from a dry but heavily grey skied EK.
lionroars67
06:11 on 3 September, 2013
Caught up with the latest from the Knox family, puts my life and that of being a Celtic supporter in true perspective today
All my thoughts with the wee man and his family
………………………………………………………………………………………………
what is the latest??
this is to raise awareness to breast cancer….so I was told by the woman who sent me it ……..normal boobs ( . )( . ), the silicone boobs ( + )( + ), the perfect boobs (o)(o). Some boobs are cold (^)(^), and some boobs belong to grandmothers \./\./ And let’s not forget the very large boobs (o Y o), and very small boobs (.)(.), and lastly the asymmetrical boobs (•)(.). We love them all!. ……..my question is as men what do we post to raise awareness of prostate cancer….. :¬o…..jim royal comes to mind
Good morning timland!!
Hot and humid in the desert (what changes..?)
Just packed the missus off back to Scotland, so playing catch up……………..
CQN golfers……..
Any of you guys got any comment on, or playing with, Cleveland 588 Altitude irons??
Getting older and body deteriorating, need all the help I can get and heard these were a good option.
Eyesight also getting worse so can’t rely on my average 24 putts per round!!
is the blog broke………or is it just the huns?
must have frightened them all off
Just backtracked and found the update on Wee Oscar…thoughts with him and family, prayers later.
desertbhoy
I’m a crap golfer so not qualified to advise, (plenty bhoys on here who can help you though) but I did read up on these clubs in a few different magazines. The concensus seems to be that if you are a golfer who generally does not find difficulty getting the ball up, then you won’t see any advantage in that respect (altitude), however, everyone to a man says they are hitting the ball further with these clubs, as much as 2 clubs difference.
Might be worth trying before you buy, but if it’s length your looking for, sounds like these may be a good option.
BTW
24 Putts average – wow – same as me…..and I’m about 26 on the back 9!!
In the style of Jim Bowen, “here’s what we could have won….”
CELTIC failed in a bid for De Graafschap playmaker Anco Jansen before Saturday’s transfer deadline.
By: Scott Burns
It’s understood the Hoops tried to sign the 24-year-old on loan until January, with a view to buying him if he made an impact.
Jansen’s representative, Alan Love, said: “Celtic wanted Anco Jansen for half a year for a rental fee of 120,000 euros, and they wanted an option to buy.”
The Dutch Second Division side wanted more money plus £65,000 if Celtic failed to take up their option to buy. Jansen has since failed to attend training.
Thank goodness the day shift is back …….moon-howlers out in force last night…..transfer window closes, so back to Board-baszzzzzzzzzzhing…….hahahahahaha
Morning all. Improving down here, weather-wise. Any improvement on the mood on CQN?
Any word on the registration of the ole trialists down Govan way?
twists n turns
07:59 on
3 September, 2013
thanks….. getting it up is also a bit of a problem, but not with the golf ball.
May well wait till i’m home next month to try them out.
Will see if anyone else provides any feedback.
Sandman
00:05 on 3 September, 2013
‘I pointe dout what would inevitably have happened had he said what we would all have liked him to say.’
######
What I would have wanted him to say was a polite and diplomatic ‘I couldn’t possibly comment on that’.
I doubt such a comment would have led to packs of marauding huns murdering Celtic fans in the street.
The efforts of those trying to justify or excuse the comments are becoming more and more ridiculous.
Face facts. He said what he said because it’s what he believes. Fair enough, he’s entitled to his opinion.
The unfortunate thing for the rest of us is that he dictates Celtic policy.
Kayal33
08:11 on
3 September, 2013
…………………………
yes, read that article earlier… seems we’ve upset him as well as the P’boro guy who had to be subbed as his head wasn’t right.
Is it true that Aliar McCoists Spivco have registered only one of there
trialist ?
Happy Celticing
GBWOK
Which Englishman commanded the highest transfer fee during the transfer window?
Just in to say…
_____________
Sandman
23:42 on 2 September, 2013
He only said what he said to avoid Celtic fans being murdered?
___________________________________________________
I can’t stand most of what you say but – I agree with you here
re: DD’s statement about the huns / sevco / whatever.
DD, imo, taught the then huns supremo – Chuckie Bhoy – a lesson about respecting yer ancient ‘foes’ in public.
To a backdrop of – Chuckie trying his damndest(spelling) to draw Celtic’s ‘bored’ into the ring with all his whining and moaning about the huns predicament – Sandy Jardine saying – “There will be blood spilled on the streets if Rangers are moved oot the SPL…” – DD was giving it like MO’N – ye know MO’N’s ‘hoodwinking’ they are the benchmark routine.
It would have reached the bottom line ie: folk wearing green n white would have become the targets of the ‘hard done by’ mob of the peepil. imo
So – DD’s sounding off might have been a bit misconstrued on here and elsewhere but
for me – DD’s statement could most certainly have been life saving. imo
Oh and btw – to all these Cellic supporters who want rid of the ‘bored’ …….I wish yeez would just DO IT !!!
You give the ‘bored’ yer money – you vote them in. imo
You don’t give the ‘bored’ yer money – ye vote them oot. imo
It’s as easy as pie :) – CSC
Hail Hail – Off oot.
Morning Celts,
Seems like the entire ES2 section of the main stand is being relocated for the Champions League games to ES1, where are they going to go?
Always been some individual seat movements around us but this time everybody I know is being moved.
ernie lynch
17:11 on 2 September, 2013
The Battered Bunnet
16:12 on 2 September, 2013
‘Ernie
Perhaps fholk don’t realise that the pref dividend was part of the cost of rebuilding Celtic Park, and creating the platform for Celtic to re-emerge as a respected European Football club.’
###
Perhaps.
And perhaps what people need to know, in order to get a fuller picture, is how much each shareholder receives annually from the club.
ernie lynch
17:15 on 2 September, 2013
Barcabhoy
17:04 on 2 September, 2013
‘Celtic cannot unilaterally decide not to pay the dividend.’
####
No. But they (ie the board) can decide how much, if any, profit is to be made by how they chose to spend the income.
So, put crudely, it could be either new signings or dividends.
……………………………………………………………………
Ernie
In your own way your not so different from Ally McCoist are you. I don’ t care how much each shareholder gets. If they sacrificed their money at a time when the club was in dire straits and were told that they would get a dividend then that’s fair enough.
Your second post above makes you sound much different from the Board of RFC who stiffed creditors. You would happily stiff shareholders.
For your info Ernie, TOSB received his dividend cheque yesterday. It was for £16.20. It will be used to defray the cost of a CL ticket. Do you feel better for knowing?
RobinBhoy – Supporting Wee Oscar and Mackenzie
08:43 on
3 September, 2013
My STs are in ES1 and we have been moved to the Lisbon Lion rear, 118/119 (the empty area where the banners are) for all 3 CL games.
TheOriginalSadiesBhoy
08:53 on 3 September, 2013
I wasn’t suggesting that anyone be stiffed.
You’ve imagined that bit.
THEORIGINAL SADIESBHOY
Glad to see yer back after yer trip to hospital.
Not the type of ailment I would expect to be so serious. And not a nice way for you to find out either!
A 6% return is only excessive in today’s strange financial climes. Historically,it is little better than would be returned by a building society.
It was a good idea at the time,it worked for us then. No point in trying to move the goalposts now.
robinbhoy- I’m in ES2, went yesterday for my tix, was told I could wait a few weeks to see what seats in main stand could become available.
Decided to move over to North stand lower rather than mess about.
Morning all.
Medical update on my dad:
Saw him this morning and he looked quite good – had a restful night, and he seemed quite relaxed but is bored.
Best wishes to all the other CQN parents/relatives/friends who are having health problems.
Special mention for wee Oscar and his family.
BMCUW
If you are about thanks for the mail – will reply soon.
KTF.
HH!!
Just had a laugh there reading the wonderful Leggoland blog.
There seems a marked difference in writing style to his last three articles than his usual nonsense.
I would have sworn they read more like Traynor articles.
Is that what Jabba is reduced to nowadays? Writing for Leggatt?
Pip pip!
Desertbhoy- re clubs – new cobra amp oversized irons are good- hope you find what you are looking for hh
Middlesbrough’s £4m bid for Genk’s Belgium international forward Jelle Vossen, 24, was described as “a timid attempt” by the sporting director Dirk Degraen.
To even think Middlebrough wjhre in for him and if they made the right offer, he could have went to them.
Top of the morning to you all from a fair but blustery Fife.
The latest from Charlotte is interesting or is it?
Similarly the Question and Answer session with Andy Muirhead and Jack Irvine leaves me with a feeling that it is designed to show Jack as being the all-powerful PR man while at the same time allowing him to imply that supposedly harmful docs related to him were illegally obtained and would therefore be inadmissible as evidence in court a la Levison!
I originally thought that CF was Whyte’s proxy and a means of getting a pay-off for Craigy boy from SDM but the more I see of Irvine strutting his stuff as the man who must be feared and revered the more I tend to think that Irvine is running a court spoiler to protect his chums should the beans be spilled.
Inadmissible evidence obtained by criminal acts.
Lord Bingham: “fraud unravels all: fraus omnia corrumpit…….. it vitiates judgments, contracts and all transactions whatsoever”.
Talking of Law Lords there is this petition with the Scottish Parliament that demands that they declare membership of secret societies. Heard of it? It is here: http://www.scottish.parliament.uk/GettingInvolved/Petitions/judgesmasonregister
H.H.
Standin’ up for Fergus, Martin, NFL, wee Brian, BIG Peter, and “ma mate Dermot”
HH, and thank-God you passed thru Parkhead’s gates.
ernie lynch
08:31 on 3 September, 2013
I actually fully agree with you……Dermott obviously doesn’t have to live amongst them …… He may have been thinking finances etc……he may have been avoiding the backlash from laughing in the interviewers face…….whatever reason he had for saying what he did, his comment should have been “I would prefer to comment on Celtic only and leave officials of other Clubs to comment on their Clubs” ……..At the time I assumed he was using the ‘ for Ceaser is an honourable man’ scenario but, in hindsight, silence would have been golden….
Anyway, he, and the others on our Board, are doing a great job for our Club, and that’s the bottom line ….. We don’t need ‘them’, and I am concentrating on enjoying the non-corrupt / sporting atmosphere surrounding Scottish Football at the moment…….with a wee bit of luck, we won’t return to the hate-infested yesteryears……