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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Don’t know who has got what on their coupons, but I hate the Italian cheats Juve.
Real are not much better and I dislike them also, but would rather they won.
Are Dundee having a laugh, they have had a £2 million pound bid for Caulker.
The wee rat McCann at it again
D. :)
Scandalous Dybala, dirty wee cheat.
I want one of those coats.
Bombard my Dad with requests. Shame him if he doesn’t buy me one.
TC45
Do what I did with my best ever childhood pal, Hans, my long haired German Shepherd. Took him for walks dressed in my last year’s Celtic kit.
Hans hated Huns. :)
Thanks for kind words of support. Appreciatos!
MIKE IN TORONTO, mike you are a star,that website is golden golden ,tell the celt 45 we have found paradise.hh.
FOD
TeT rescues Spanish street dugs. Him and his lovely lady are my kind of folk. Selfless couple helping defenceless animals. Wonderful
Happy Birthday Doc
You will have probably lost count by now :-)
HH
CRC
DD
Derry used to wear one of my old strips. She looked great in it!
The problem is my jerseys are not puppy sized!
:)
MIT
You have to get Seamus 1 of those coats.
He looks good just now, but imagine him strutting his stuff as proud as punch in one of thos coats.
You know it makes sense.
D. :)
Mike in Toronto, please get Seamus a coat for the winter, I understand it is very cold in Canada in winter. Only time I was in Canada (Nova Scotia) was mid summer and it was hot!
Woof Woof Seamus
MIT
Aye, didnae want to say, but you are a bit of a big unit. :))
Just logged oan!
Jist loggin’ aff!
Up the Celts!!!!
Delaneys
Much obliged mi amigo :-)
Clicking on my name takes you to the Rosary site, the other site is different, it’s called TheGemstoneCave, also on Etsy, I chop and change it now and again, the collars and belts are on facebook here, https://www.facebook.com/CRYSTALCOLLARS……I am virtually never on Facebook, that would be the domain of the Mrs, I also have a bunch of other FB pages, one is Celtic Bracelets, another is Football Belts and the rest no idea :-)
But every cent goes to help the dugs, I have never worked so hard and been so skint in all my puff :-)
HH
Phil
That was quick! :)
Hate to be a grump and believe me I love dogs but the site is getting nonsensical with all this dog stuff.
DD
I will have you know that, thanks to Fatbhoys, I am now a svelte 6’3”, 225 lbs!
TwiggyCSC
:)
CanineQuickNews
I didn’t know TET rescued street dogs. Respect ratcheted up a notch. My last dog was a rescue, a lurcher that had been forced to spend the first year of her life on the balcony of a high rise in Dundee. I don’t know which was worse – the high rise or the fact it was in Dundee! Imagine being what’s effectively a greyhound-lite and being forced to spend your life in a space 2ft by 4ft. It took us two years with her to get her to unwind. She died of cancer last year, but we gave her a few good years and I’m sure she taught my kids lessons that I don’t even know they learned.
Speaking of Dundee, can’t wait for tomorrow night. Rat boy McCann says they’ll come to attack us. Hopefully he means that in a footballing sense. I can’t bear the guy. Somebody is due a proper doing from us and I hope it’s tomorrow night. And every subsequent game, of course! But 6-0 would do me fine.
haw you, are you on that computer again ?
aye i im.
whit you dain ?
i am pretending to be a dug on the internet talking to guys in canada, spain, and england, asking for a celtic coat and signing off with a woof woof …………………..
aye right, your looking at durty wummin arnt you
Corky I agree,
Maybe the guys can post pics of their dugs and it would be like a Korean restaraunt menu
CR7 oh my word !!!!
What a goal
Corkcelt
I don’t mind occasional dug posts.
It is the talkin dugs posts that get me.
Snue Gliffin CQN :)
Great goal by Ronaldo.
WOW, The Strutting Peacock does it again
Juve implode.
Yes goals for Hibs & the Sheep
1-0 sheep
DD wait a minute, do you no remember the talking dug on Esther Ransons show.
Saaaaausages….. Woof
D. :)
i was ok with aberdeen getting a draw, letting us win the league earlier , and a better chance for hibs to catch them.
Corky
I get asked about what I do, I get asked where I sell things, I NEVER instigate it.
HH
2-0 sheep
2-1 Bayern
Getting harder to argue that CR isn’t the best ever … some player!
Wouldn’t go that far Canamalar, I’m very fond of the dogs, and I don’t mean to be a spoilsport but every topic has it’s shelf life and fine let it rest for a bit and fine have another session, ah maybe the pish weather here is making me a grump.
Goooood Evening CQN
DD, was it not that big daft from Motherwell who got us all the free drink from CR7
The DJ :-))
Doc, happy birthday Auld fhella
Now
I buy my season ticket knowing there will be at least 2 home games I don’t attend – never struggle to give tickets away for the game though
FtSFA for allowing a brand new team, direct entry into the Scottish game
Hail Hail
Canamalar
Someone asked earlier. Where have all the stray Glesca dugs gone?
Remember my late father saying, when a Korean family opened a takeaway in Knightswood. “There will be no more stray dugs or cats in Knightswood now.” He was ex army who travelled the world.
OK
If you don’t like my posts, i will revert back to being Hrvatski Jim.
Bet you wished I had stayed a dog.
mike in toronto on 3rd April 2018 8:25 pm
Have hunted everywhere State side to no avail.
Will check that one out.
HH
TC45