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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    TURKEYBHOY re. Your ABBA fav, Anna Frjd was mine too (the dark haired one). Did you know she was actually Norwegian, not Swedish? Does it matter a feck?




    I knew that she was in fact ” Norwegian”….and it is also claimed that HER Father was an German SS Officer in WW2 ?


    Being Norwegian….would that make her a ” Weegie” like me ?





  2. Good morning CQN



    Paul67 should consider tying up an advertising link with the disastrous GB news channel add a wee Union flag into the CQN logo and I’m sure Andrew Neil would throw Paul a fair few of the queens’ shillings his way, GB news would certainly tie in with the politics and age demographic of CQN as their output is regularly regurgitated by trolls every day on CQN



    At the end of each day on CQN, I now imagine a fair few posters standing for Queen and country toasting out of their own loving cup



    aff oot






    TURKEYBHOY re. Your ABBA fav, Anna Frjd was mine too (the dark haired one). Did you know she was actually Norwegian, not Swedish? Does it matter a feck?










    I knew that she was in fact ” Norwegian”….and it is also claimed that HER Father was an German SS Officer in WW2 ?




    Her Father was a Sergeant in the WERMACHT during the German occupation of Norway …I am NOT sure IF that was part of the SS ?


    His name was Alfred Hasse and he died in 2009.


    He was evacuated from Norway near the end of the war and shipped back to Germany. Her Mother and Grandmother took young Anna out of Norway in fear of reprisals against Norwegians who had been ” friendly” with the Germans during their occupation, and they settled in Sweden.



  4. Big Yogi rightly lamenting Sparky’s output and chances over the last 3 years………


    I’m disappointed but not surprised how the wee fellas career has stalled.


    I hope he re-invents himself at Dundee.



    Salvation awaits those who really want to play in the famous Hoops.



    He’s another one for whom the shirt doesn’t shrink to fit.

  5. The Norwegians carried out their own eugenics and persecution after the war.



    The Irish Catholic Church beat them all ends up in that period in terms of pure evil though.



    Not a penny out of me

  6. BB- ive said a few times, we could do worse than getting Yogi a position at Lennoxtown, good football man,full of positively, wouldn’t take any shi!@ from anyone and would set good standards. His Falkirk team a few years ago,were a cracking football side.

  7. An Tearmann on 3rd September 2021 11:27 pm



    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 :-)







    Hi Big Mhan



    Didn’t get to see WITS this time unfortunately but if he was doing as you suggest its far more important than meeting me for a pint. I hope to catch him next time maybe a wee session with him Almore and myself. I sure that would be worth sitting down for. What a pair of cracking Dubs they are.



    Re Rory Gallagher my wife and I were sitting at a restaurant in the temple bar and I asked two different waiters did they know were Rory Gallagher Corner was. Both gave me a blank stare so out comes the phone and the old google maps. We left our table walked about 50 yds and there it was. You could still see the restaraunt. Got a photo in front of it.



    You were sadly missed at the hoot. As was BIG JIMMY among a few others I would have liked to have met. But as above there’s always next time.



    Watched the JOTA youtube video he’ll get the shit kicked oot o him in this league.





    Rory Gallagher – Bad Penny




  8. Brilliant story about a brilliant Celt, George Patterson on


    Great read



    Can’t copy n paste

  9. Any time I see a few Rory Gallagher posts, I tend to post the fact that as a young Teenager in Cork, Rory, a mutual friend Jerry Osbourne & myself used to hang out together.


    My brother is buried not far from Rory’s grave , in Saint Oliver’s Cemetery near Ballincollig a few miles outside Cork City.


    Any time I’m there, I stop by & visit both graves.

  10. I think they mean RACISM, but editorial controllers cant bring themselves to say it



    and I also think intercepted means “met up, joined in and escorted”






    Five more charged after sectarian singing in Glasgow



    image captionA group of fans was intercepted by police in the Jamaica Street area of the city centre


    Five more men have been charged with singing racist songs in Glasgow before Sunday’s Old Firm match.



    Police Scotland said they expected to make “numerous” arrests after footage emerged online appearing to show Rangers fans singing a sectarian song before the game at Ibrox.



    The men, aged 20, 21, 23, 23 and 26 were released to appear at Glasgow Sheriff Court at a later date.



    It brings the total number charged in connection with the incident to eight.



    Earlier in the week, Ch Supt Mark Sutherland said racist conduct “would not be tolerated”.



    ‘Indefinite ban’


    The divisional commander for Greater Glasgow said: “We have made the first of what I expect to be numerous arrests following the disgraceful racial conduct shown by a minority of Rangers supporters who were making their way to Ibrox Stadium on Sunday, 29 August.



    “This racist conduct will not be tolerated and our investigations are continuing.”



    Following the first arrests on Thursday, Rangers FC released a statement saying they had written to three individuals to confirm their indefinite ban from all club fixtures.



    The club said: “We reiterate our club stance against all forms of discrimination and once again, underline our approach to so-called ‘fans’ who bring the good name of Rangers FC into disrepute.”

  11. offcourse they could have saved themselves a lot of man-hours, cctv replays and probable overtime, just by arresting the persons as the crimes were committed.



    you know old fashioned policing

  12. Corkcelt/Tony Rome



    If ever up in donegal The Rory Gallagher festival is a must visit in Ballyshannon.fair play to you Corkcelt


    :-) Tony working lots and was sorry to miss hoot.always another.hope yon Bobbymurdoch fella had a good day with you Celts.




  13. TONY ROME…


    Sorry mate but in recent weeks I havent been able to drink cos of the anti Biotics I was on, and thats why I missed the Hoot last week.


    Hopefully we can arrange a wee bevvy session real soon if you are availble ?


    Cheers mate.



  14. GuyFawkesaforeverhero on

    Is the game still on? Aye. Are there still tickets available? Aye. What time’s ko? 3pm. Can I watch your train, mister? If you like, son. All the best to the wee Celts v Morton.





    ParkheadcumSalford on 4th September 2021 11:37AM



    My dad was born in 1924. His favourite player from those times was Johnny Crum, not Malky or McGoals.



    He told me why that was, a singular amount he received as altar server at JC’s wedding, St Charles, Kelvinside. Another half story only, lost to me with no-one to confirm whether it was a half-crown or ten shillings. Earlier in my life, I knew exactly.



    Is the game still on? Aye. Are there still tickets available? Aye. What time’s ko? 3pm. Can I watch your train, mister? If you like, son. All the best to the wee Celts v Morton.





    Me and Da just getting ready to head down to Imperial Bar for a quick one, then off to Broomfield (that’s what Da calls it) to see the Wee Hoops.



    Then taxi into Glasgow for a wee trip round some hostelries in Candleriggs – great day!!!

  16. Long time lurker but never post. I am looking for advice – does my 5 year old son need a ticket to get access to stadium. I have a ST and was hoping he could sit on my knee for a one-off game. Many thanks for any info. HH

  17. Michael Stewart,saying today that he is totally bewildered by Clarke’s tactic in Scotland games.Join the queue Michael.


    To think some were calling for him to be our next manager.A giant bullet dodged there.

  18. CELTIC: Mullen, Murphy, Urhoghide, Corr, Anderson, McInroy, Davidson, Dickson, Shaw, Carse, Brooks


    Subs: Letsosa, McLean, Robertson, Jackson, Deane

  19. Thanks NOTTACLUE1 – I will speak to a steward at next game. I was hoping to take my young son to the DU game in a few weeks time.