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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TBJ Praying for Oscar Knox
Naughty naughty bhoy.
I used to glance o Rankers (deluded ) media & was unfortunate enough to look on FF ONCE:))
If the had even a fraction on the financially aware posters and sometimes uncomfortable question askers that come onto CQN,I doubt they would have died.
But hey ho unfortunately for them they didn’t and only have hate filled bile spewers and lamb eating MSM lipsickles :)))
Well done bhoys and ghirls keep asking and explaining.
Anyone think a loan signing with a view to signing could maybe happen tonight for any of our clubs.
Scottish clubs are sitting tightly hoping they don’t recieve an offer they cannot refuse tonight as they will not be able to buy a replacement due to a silly rule.
We all know the real reason why the windy slammed shut on Saturday.
Only in Scotland.
Valentino
Now you know ^ was the answer I was looking for ;)
Hows you amigo
TBJ Praying for Oscar Knox
19:08 on
2 September, 2013
Corkbhoy
Ive got a problem with you pal ….. I cba writing the whole blog name .. so my pal corkcelt gets shortened to corky…
Wtf do I call you …
Btw… as im tbj.. bt is bt … t2 … t3… t4 .. sftb .. crc .
What do you reckon valentines day is ?
you think you got problems i been called F.U.ps.what do you reckon valentines day is.??brill do you think he will get that??
Sipsini, the Carphone Warehouse at the Forge used to repair screens without too much expense, not repaired by the manufacturers type of thing, £60 to get my HTC repaired, but that was a couple of years ago. Worth a try, even just phone them and ask.
kikinthenakas …tbj.
Cheers for the info.
Tbj.
I lost all e-mail addresses.
I’ll text you the info re:-shares from Canamalar, could you pass it on to Weefrathetim.
after shatk game im was pyhiscally and mentally drained up there with the murdo 4 2 haralds 98 clincher how do you think neil felt I know hes this that etc cant walk down any major street in Scotland without being attacked fat boy can fact hes got faults yea 2 champions leagues says it all love him life of pressure gets on with it
Isn’t it great to have so many financial experts in our midst…..he he
That female presenter on SSN Italia I mentioned earlier has just come back – and she is still bursting out of her blouse!
Blouse malfunction alert!
HH!!
oldpervcsc
Canamalar – if you’re around, I’ve sent you an e-mail.
Uncle favor
I struggle for a nicky name for you ;)
Sipsini.
No text received mate
You coming to the hootenany end of the month
TBJ Praying for Oscar Knox………could nae be
happier pal.
FAVOURITE UNCLE……did not see that when I
was thinking about a moniker……would change it
but you know what they say……..you sh*g one sheep
and are forever known as a………..
Taliano
Behave… ive no got ssn … just babe station ;)
Weeron @ 18;57,
This is exactly what CQN is good at, debunking hun myths and enlightening Celtic supporters.
Sometimes it seems we generate more heat than light but I’m sure we are far more educated on Celtic PLC’s preference shares and why we have them.
The “hidden Celtic debt” has been debunked, dividend payments have been explained, most are very comfortable with the situation.
Could SevCo supporters give you that sort of detail of their share issue? I doubt it.
Hail Hail
Tallybhoy-not as big a t#t as Jim White i’d guess….
sipsini
theres a pc shop at argyll st top of finniston st..good quality replacement screens,watch out for cheap poor glass.its a£400 phone..get a rubber cover silicone type hh
Tallybhoy,
How right you are!! A malfunction of substantial proportions!
GoodthingsaboutItaly csc
Good God!
I think she’s undone another button!
Goin’ for a lie doon!
HH!!
Dermot Desmond invested millions in Celtic initially.
He then underwrote a further share issue investing further millions.
Celtic benefit and he has a tax efficient way of getting a return on the millions he invested.
Also if Celtic are failing then he can’t get a return on his investment.
Why anyone would think that he is not entitled to a reasonable return on his investment is beyond me.
TT
Tbj.
Text sent.
Ye I’ll be there…looking forward to a good tim night.
valentinesday .i thought it was a subtle way of asking if he was a current.honest.when i read on i got the message.
Chairbhoy….
yes, the blog still has some value. However, I am not sure that the myth is debunked. Some will hang on to it until another stick becomes available.
Away tae watch that tally burd wae the
magnificent cleavage on ssn.
toscanabhoy
Seems like a ‘nice’ girl – and very professional.
HH!!
No point in me watching the chesty presenter alas……. arm broken at the Elbow! X-rays and positioning the arm one of the most painful y
tallybhoy,
I would tend to agree.
Can you imagine her interviewing Barry Fry?
HH!
Sorry can’t type left handed– one of the most painful things I have ever experienced.
Tonight I will be mostly watching SSN Italia.
There’s nothing else on worth watching anyway.
HH!!
Tiny Tim
Nobody stated he had no entitlement to a return. Questions were asked about how much and for how long and whether there should be dividends in “bad” years. All of those are legitimate questions and they produced legitimate answers for most.
We give around £500k each year to all those with preferential shares who take the dividend. Like PL’s bonus, it may be too much, but it is not the difference between us getting and not getting good players.
That is a good thing to have learned from today.
Weeron @ 19;45,
It’s true, some will always be unhappy, some will refuse to accept the facts, but in the end the vast majority are better informed by CQN than the disassembling of the SMSM.
Hail Hail
BRTH
More power to your elbow, sir :-)
Cqnrs on ssn
Im shocked . ……. And jealous
Tallybhoy
I do not approve of weemin coming on to my telly wearing low cut blouses to distract me.
Good heavens! You can see what she’s had for breakfast.
toscanabhoy
19:52 on
2 September, 2013
tallybhoy,
I would tend to agree.
Can you imagine her interviewing Barry Fry?
Benny Hill “chase scene” comes to mind…and I don’t even have Sky!
BRTH
ah feel your pain fella. “broke” my elbow about 18 months ago. Best of luck with your recovery
greenyin
TinyTim
19:43 on 2 September, 2013
‘Why anyone would think that he is not entitled to a reasonable return on his investment is beyond me.’
###
I haven’t seen anyone on here suggest that.
Damn!
She’s away again!
Changing channels.
HH!!