Interim accounts for the 6 months to 31 December 2017 were issued by Newco over the Easter break. Income was up £3.1m, due to the new merchandise deal negotiated (paid for) with SportsDirect, higher ticketing and hospitality revenue, although no mention was made in the notes of the progress the club made with its first foray into European football.
Costs were up correspondingly, by £3.5m, leading to a loss of £926k for the period. The previous year, a corresponding loss of £238k led to a season-end loss of £6.663m. We can expect something similar for this season, leaving directors to find an operating loss in the region of £7m.
The good news is that “penniless” Dave King has convinced a Trust to provide the £11m required for him to make an offer for shares his concert party do not already own. The offer of 20p/share is likely to be accepted by some who have tired of the episode, including those who were ousted by King and colleagues in 2015.
It is likely all the money is in place to cover this season’s deficit and the share offer but the big question remains, how to breakeven? Competing with Celtic is not even a question.
If expenditure remains at current levels, reaching the Europa League group stage would bring in enough money to remove the spectre of running out of cash, but that is a huge challenge. Newco would need to overcome four higher seeds to get there (something I doubt has ever been achieved).
They could increase the football budget, but that would expose them to higher-still potential losses, with associated risks. Or they could downsize. Stick with Murty, get rid of the Portuguese vanity projects and develop a team from the ground up.
Downsizing also comes with risks. Vanity projects sell tickets and merchandise. A first team full of teenage graduates from Murray Park would be a hard act to ‘follow’.
In short, I don’t see financial viability in this club, never mind competing with Celtic.
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I went to Saint Tams wi Welshy who winched Claire Grogan at a Notre Dame party.
She is a wee beautful lady. Heart and Soul Tim.
DAVID66, thanks pal where have you been all these years.hh.
David66
Big Sinky never kicked a baw in his life. He hated fitba. He loved his puff like me. Crackin puffin mate fae the 80s. :)
Can we all say prayer for my best mate’s mammy please.
Maggie Doyle who is up in Hairmyres. One helluva women who is gravely ill.
WITS: Did you get the scones?
LEFTBACKAGAIN, prayers said.ktf.
I’m almost afraid to go off topic now. But the chooky Edinburgh is going to get a hip replacement tomorrow. At 96 (NINETYSIX) years of age! Can you imagine any of us getting this at 96 yo? Whats worse is there is a battalion of servants, police, secret service, to wheel him about in the most luxurious wheel chair ever known to man. Put him to bed, get him up. Dress him, feed him. Take him to the toilet, wipe his .rse.
I know it’s a private hospital, but where do you think the royal family wealth accumulated from over the centuries?
All for what. what is his life expectancy and worth to society? That, believe it or not are the questions that health professionals ask in the NHS. They would probably start us on a course of Diamorphine.
Pray for phil.
LEFTBACKAGAIN on 3RD APRIL 2018 11:32 PM
Can we all say prayer for my best mate’s mammy please.
Maggie Doyle who is up in Hairmyres. One helluva women who is gravely ill.
Prayer said. LBA
Almore
Scottish scones are not a thing.
Totty Scones wi a coupla poached eggs and four slice of bacon was my adequate breakfast today. Energee
DD: I love scones. Covered in real butter, loganberry jam and a dollop of cream.
Much better than those deep fried Mars bars:-)
Jimthetim…..
Funnily enough…
My mother in law’s friend, aged 83, had a hip replacement last year in the NHS
Just sayin’
NHSCSC
JTT
Due you know of any Royal family from any country in the world, where one of them suffered from cancer?
LEFTBACKAGAIN, thoughts and prayers for Maggie Doyle.
Almore
My favourite breakfast ever took place in a Tallagh cafè. The soda scones and multitudes of toasted soda bread was magic.
Sorry if I sounded a bit heartless there. I cant stand monarchy. But the present queen’s father died of cancer I think. Apart from that, I prefer the way henry the 8th went. Syphylis, gout ghonnoreah food poisoning scurvy fall from a horse madness VD piles. A good hanging would have been too good for him. Don’t get me started on Oliver Cromwell.
My uncle Joey had a budgie called Albert…..just sayin like……
Dear Sevco,
I heard you were coming.
Look over your shoulder, it is Lenny that is coming?
Collie, now there was a real man’s dug.
Tail – a – waggin’
31003
My Uncle Budgie had a goldfish named Joey.
Uncle Albert starred in Only Fools.
big packy
if they dont like the dog talk they can always scroll by.
When Albert died Uncle Joey took him to work in the east end and buried him in a builders yard. When he retired he’d go and visit his grave at least once a week.
If he wants to visit his grave now he has to stop his car 63 yards up from the lights, on the central white line between the two lane turn off on the M74 at Polmadie/Rutherglen.
Celtic Squad v Dundee
13 Games 8 Shut Outs Craig Gordon
01 Games 1 Shut Outs Dorus De Vries
14 Games 4 Goals Scott Brown
13 Games 5 Goals James Forrest
12 Games 6 Goals Leigh Griffiths
10 Games 2 Goals Nir Bitton
08 Games 1 Goals Callum McGregor
08 Games 0 Goals Mikael Lustig
08 Games 0 Goals Kieran Tierney
07 Games 1 Goals Stuart Armstrong
07 Games 0 Goals Dedryck Boyata
06 Games 0 Goals Patrick Roberts
05 Games 1 Goals Tom Rogic
05 Games 1 Goals Scott Sinclair
05 Games 0 Goals Moussa Dembele
05 Games 0 Goals Erik Sviatchenko
03 Games 1 Goals Olivier Ntcham
03 Games 1 Goals Jozo Simunovic
02 Games 0 Goals Kristoffer Ajer
02 Games 0 Goals Kouassi Eboue
02 Games 0 Goals Cristian Gamboa
01 Games 1 Goals Nadir Ciftci
01 Games 0 Goals Ryan Christie
01 Games 0 Goals Odsonne Edouard
01 Games 0 Goals Jonny Hayes
01 Games 0 Goals Michael Johnston
01 Games 0 Goals Anthony Ralston .
Craig Gordon
199 Competitive games for Celtic
198 Starts
001 Sub App .
TIMHORTON two minds think a like how you doin pal.hh.
JTT
Naw he didnae. The poxx.
Aint it great being a pawn.
Strange thing is…..when they were building that turn off I think one of the tar boys knew wee Albert was buried there because he put a cats eye right on top of him…….like a wee gravestone…….but wi a light……..and ah say a tae Uncle Joey….”look, a wee gravestone” n he says “d’ye think so?” N ah says “aye”
DD: I’m having a full Irish on Thurs before I leave – Kearns sausage, smoked rashers, egg and tomatoes with a little portion of Spanish tortilla to appease the locals.
Willl be in Timmy’s in Torreblanca tomorrow night for the match for any lurkers or regulars who might want to catch up.
Oíche mhaith.
Delaneys Dunky on 3rd April 2018 11:18 pm
I went to Saint Tams wi Welshy who winched Claire Grogan at a Notre Dame party.
She is a wee beautful lady. Heart and Soul Tim.
======================
Ha,ha, she is – sat beside Claire at a mate’s wedding in the 90s. After a few hours of bevvies and mixed conversation she pulled me up and asked if she should call me by my full first name or an abbreviation of it or a nickname a few folk had used.
I just could not resist it. ‘You can call me Mr.Spaceman, baby…’
She took it well, a right lovely girl for fun banter.
GregorysGirlCSC
Almore
Sounds amazing. All that is missing is a lump of fried haggis and a couple of thick totty scones on poached eggs.
Seems it’s only dugs people talk aboot on here……….sumthin wrong wi budgies?
Klerk right enuff
Kleek……no klerk
Had a cousin called Jiminy………I’m not telling anyone what he had as a pet
…….not to mention my cousins on my mothers side……Mickey and Donald
Sandman
I grew up wi Gordon Sinclair. We were Ķnightswood stoners. Claire could smoke us under the table. ;)
Hope to meet a few auld Tim pals again tonight. Hope we destroy EBT McCann’s mob.
The blog is asleep
GNGB CQN
Nae wonder
Just been reading back,yeezuraw aff yer heid.
https://m.youtube.com/watch?v=6yrtrDjmw5c
HRVATSKIJIM
If you’ve stopped posting as Seamus Larsson,does that mean that we don’t care what the animals say?