Newco finances writ large, an echo from a decade ago


Celtic’s accounts were later than usual last year, doubtlessly due to world events, but I expect them to be out this month.  The year to 30 June 2021 will make grim reading, although the notes will record monies received and pledged for the subsequent sales of Kristofer Ajer, Odsonne Edouard and Ryan Christie.  Celtic will recover from a remarkably difficult period solvent and in competitive shape.

As you don’t need me to remind you, this season’s title brings automatic entry to the Champions League group stage, with riches that can significantly influence domestic competitiveness.  Last season’s title was about history, this season’s is about the future.

Solvent and competitive shape is a condition Newco also aspire to.  Their last published accounts, to 30 June 2020, noted an eye-watering loss £17m.  We will hear what their title win cost at some point this autumn, it is unlikely to be an improvement.

When they lost to Malmo, discrete comments were made that they needed to sell players, a feat that proved beyond them in the transfer window.  Their recent pubic share issue was undersubscribed, although it will go some way towards repaying borrowings from former chairman, Dave King, due next month.

With season ticket money expired, they were forced to issue shares on 10 separate occasions between November last year and June.  The club’s appetite to burn cash has not abated since.  Uefa intend to tweak Financial Fair Play regulations, but they will remain and may become more onerous.

Clubs cannot lose money indefinitely, they eventually need to live within their means or face an insolvency event.

It does not matter how bare the bank account is, I suspect Newco will find the money to keep the lights on between now and their visit to Celtic Park on 2 January.  They currently have a three-point advantage and will hope they can build a firm advantage in the title chase by then.  If they do, they will find the money for another 10 share issues if necessary, in order to win the Champions League bounty.

If they leave Celtic Park with their league chances looking grim, how easy will it be to fund an enterprise that will forever lose money?  We are approaching the 10th anniversary of when Rangers went into administration (14 February 2012).  The weeks and months running up to that date were characterised by a circling of the wagons and firm denials of the problems ahead.

We covered Rangers finances on these pages at the time.  We could not be sure how events would play out, but the facts were writ large, as they are now with Newco. It’s like an Ibrox echo.

What’s more important, a title for history or a title for the future?  Right now it feels like history, but by the spring that will change.

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  1. Agnetha was possessed of “a clinically interesting lordosis” according to the writer Clive James. I think that’s a thesaurus-based way of saying “nice arse”, a sentiment with which many of us would undoubtedly agree.

  2. @Majestic Hartson…i had the same thoughts…..I don’t read much of JHB’s stuff..


    But straight after he posts there is some big time vitriol….directed at him.. Painful to read..


    Another guy gets called a Tory……Jeez over the years He has left me bleeding.. with his views on life.


    But never a Tory…….Guess we all make assuptions ……






  3. Seems to be a lot of confusion about our pecking order on here tonight? I mean concerning the status of us Irish Brits in this beloved northern region of the UK.


    Why try put into words when a song will do, it’s Friday nite after all.


    “No Blacks, No Dogs, No Irish”


  4. “I don’t wanna talk


    About things we’ve gone through


    Though it’s hurting me


    Now it’s history….”




  5. ooft great link weebeefceee. The Jimmy boy nailed it…


    and leads us on to the Great Allman bros……







    H.H. son

  6. @Fox….sly digs don’t work best to say whit you mean no????


    Enjoy your music links……








  7. BIG GEORGE @9.46pm



    Re Chris McLaughlin. He is obviously trying to ‘sook back in with the hordes. Apart from the fact he CAN be a good investigative reporter, the other fact that he is from a Tim background sullies his crawling towards the hordes and his sectarian (BBC word of choice) bosses.

  8. Oooft great bass playing on that 11.05 track….is that a girl playin on the 26th fret???



  9. funny how a comment can stick in the hidden pleasant side of yer napper..


    I read a 2525 post today….and now i’m 16 wae Zager and Evans …citin times..

  10. @Fox…32 you say ??? well my beloved Jack Bruce will be proud…..








    CreamCream Cream

  11. Tony Rome



    Quality range as per,todays cherry was the wee glint into the talent that was Rory Gallagher.His live album is a listen.


    Did you see Wits? Or was he to busy conspiring with DD to sign PLs wee cousin Liam Scales,something bout a bonus :-)








  12. Emeraldbee,



    Yep,Anna was a honey.Great figure as well.Watching the making of the “Virtual concert”.Amazing stuff.Will be well worth watching,just to see both of them in their glory again.

  13. The Cream -was that where the great Eric Clapton came on the scene. Good man.


    Great guitarist and – guy who sees through the covid scam.


    Just released a couple of good songs against the currant criminal virus madness.


    Said he’ll never play to an audience if there are vaccine passports required.

  14. On Saturday September 04th, 2021 Anno Domini, the Friends of Irish Republican Prisoners Welfare Association are planning to march through Glasgow city centre from Blythswood Square to George Square.



    The estimate that 500 people will take part in the march starting at Blythswood Square.



    The proposed route is onto Blythswood Street, along Cadogan Street, Douglas Street before heading along Argyle Street and up Queen Street into George Square.

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