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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WELLBHOY7
Depends on the age and size of the wean, seen bhoys carrying babies in before.
BTW usual CQN introduction are you a hun
Dream start for Liam Scales as he scores on his Celtic debut playing left back. Not a prediction, I dreamt I read it on CQN, but sometimes dreams come true!
Steve Earle ~ Some Dreams
https://youtu.be/PzHBCgKvEn4
@ PRESTONPANS BHOYS
No – I’m not a hun. ST holder since Hampden. I sit in FS3, so glad to be getting back to my original seat soon. I’ve actually had a CQN login for years – I usually just read the articles, how the weather is in EK etc. It’s very rare for me to post.
The Ireland game is awful.
Thank you for your kind words earlier Jimmy..
Hope yer better soon and get oot for Swally!.
👍☘.
HH.
And everyone else who took time to pass on best wishes regarding my wife Margaret and Aunt..
Thank you👍☘ HH.
coybig
Not a lot of football on at the moment, Ireland game on in the background…genuinely feel for those on here that follow this Irish team, they really are painful to watch, not a single quality player on show…
And to emphasise my point, the pub singer Duffy, unmarked on the halfway line, pings a wayward pass straight into the stands, twenty yards away from his nearest teammate…
Get in shane….
Delighted for big Shane.
draw
Kris Boyd: Scotland need the win tonight. If we get goals that’s a bonus.
Must be a while since there were last no Celts in the Scotland starting XI
Patterson, is he the deid team’s player? He was dire there.
Glad McGregor isn’t playing.
I like golf, I don’t have Sky TV. Following the bbc updates on the Solheim Cup. Europe were brilliant in the first session, three wins and a draw.
Second session on now, fourballs. Live reporting from Paul Higham, Steve Sutcliffe, Ros Satar. Here’s an example,
That’s more like it – Nelly Korda sinks that putt and drags this match bag to all square having been two down previously. It also messes up the all-blue leaderboard, not quite any red on there yet but it’s not total blue and that should at least give the crowd more to shout about.
Pathetic.
Nothing from Hairlikespaghetti since 6.25PM.
I expect he’s as keen on women’s golf as me and is rivetted to the Solheim Cup. His advantage is to be a Sky TV slut. I’m not.
Ernie Lynch
If you’re looking in, I have been reading back and unreservedly apologise for calling you a Tory. I misinterpreted an earlier comment from another poster. We may differ on independence and that’s politics. I will continue to oppose you on CQN as far as that goes, but I was wrong to call you a Tory. Sorry.
Just received a text. Scotland leading Moldova .
Was Groucho Marx not the president of Moldova?
Sometime pre-war.
WESTCRAIGS
Why belittle another country?
Callum rested for Tuesday v Austria who are 0-3 down in Israel.
Tom,
Being called a Tory,should be the least of his worries.
Scotland missing opportunities- if they score – game over, if they don’t- watch for a 1-1 draw
B…B…Billy – all but invisible
This Scotland game is dire
As for Nisbet – I think he is sitting next to me with a hauf😀
Still to see how Nisbet is £3 million plus…
A Kilmarnock manager doing what Kilmarnock managers do – the odd win, some creditable draws – what gets you sixth in the SPL gets you nowhere internationally
Watching future opposition Israel vs Austria. Austria have had 18 attempts at goal to Israel’s 3.
Amazingly, the Israelis scored from all 3. Leading 3-1. Israel ( featuring El Hamed ) have 2 lethal front men, Dabbur and Zahhavi. Can’t see Scotland beating either team away from home.
Now 4-2. Some game.
Guy fawkes, I’m flattered that you feel compelled to monitor my presence on CQN, I had popped out for a few teatime refreshments with my better half. On reflection, probably should have kept you in the loop, saved you fretting.
Amazing match in Israel 4-2 and could easily be 7-5.
Bitton very lucky to get away with a late tackle on Arnautovic. Against Sevco, that would be a penalty. Solomon looks a smashing player for Israel.
Hairlikespaghetti on 4th September 2021 9.15PM
You insulted Shane Duffy. You are a nothing.
Abada on bench for Israel. Some smashing goals in this game. Contrast with Hampden is marked.
Catching up on last half hour of Scotland game, (don’t tell GuyFawkes but I’m watching Sky Sports again).
Seems both Scotland & Ireland finding their true level on the international stage. Ireland ecstatic at a last minute equaliser against the team ranked 112 by FIFA, Scotland huffing & puffing against the footballing powerhouse that is Moldova (ranked 175th).
Hi Guy, where was the insult? Xx
Christie blazes over when it seemed easier to score. Where have we seen this before?