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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ThankFekCSC
;-)
This goes out to all those on the blog that are barking ;-))
https://youtu.be/v044SCWA4LA
North Cyprus.
Bobo v Scott would be like Ali v Foreman
Big Packy
I started the Seamus stuff to wind up my friend Mike and I don’t think anyone will not shake my hand at Cqn corner because of it but I was thinking that it was time to move on so I outed myself. People can express their opinions with no hard feelings either way. I,for one, would miss your posts so I do hope that you stay on here.
Well done BP
D. :)
Corkcelt
I find that rather offensive , i’ve never and woukd never tell anyine to eff off . Just like you i get bored with some of the subject matter , unlike you i would’nt ask anyone to move on from what clearly gives them and others some joy .
Saddens me you’ve taken that tone with me .
Anyhoo hope your mood lightens , afterall there is a game tomorrow .
From one grump to an other good night and God Bless .
GORDYBHOY64, okay i apologise to corkcelt, but it sounded like he was sick of the dog talk for which i apologised, ffs we are all celtic supporters, including my frankie and benny, hope you are well.hh.
WITS
Awe naw. You another wan wi a talkin dug. ;)
Mon Hoopy
I mean the Hoops
D. :)
Jamesgang
You’re confused huh ?
Think about this wee guy:
https://goo.gl/images/KY7YnL
BCW
Bollocks, you’ve found my Facebook profile!!!!
The site has gone to the dogs :-)
Doc even starting to believe his sleeping beauty mirror
HH
CRC
Delaneys,
seen this video of WITS
https://youtu.be/nGeKSiCQkPw
So naebudy noes if big Jozo was suspended on Saturday?
Nytol
Hoppy birthday Doc, you handsome young Tim you!!!
DD
Are you saying Brian Griffin (the family dug) from family guy canny talk…
D. :)
NorrieM
He was suspended for the last two matches but i believe he is also injured.
David66, that quote may well have been in the movie too, the Wongs were certainly another gang.
As I have a vested interest in the Baldies that line stuck with me:-)
CRC, mirrors broke!
Hope to make it tomorrow, see you at the Pools office?
frankie and benny, say we love the glasgow celtic who is gonna take that away from them.hh.
JamesGang, cheers, and to anyone else I may have missed.
Everything in moderation in my life now.
But this Jamaican Haze is dynamite herb.?
HRVATSKI JIM on 3RD APRIL 2018 10:53 PM
That Seamus admission clears up something that has been bothering me. So many posters apologise for spelling errors caused by fat fingers yet Seamus never had a single error despite posting with paws-))
I actually thought SL was quite an amusing idea although I am not a doggy person and have little interest in the doggy posts.
And have I ever inadvertently disappointed the godfather of soul, Roy Croppie????
——–
Could be about that time i asked if he had any Justin Bieber in his duke box ?
David17 and NorrieM
How the feck could Jozo be suspended, unless to do with Huns game sending off, he has hardly kicked a baw for us.
D. :)
Delaneys
Dugs eh ?
Just home after a few days in the Bonny Bonny Banks
Dogs everywhere. In hotels pubs coffee shops etc
Anyway good will to all. Cork Celt didn’t mean any harm. I have posted similar myself. I remember one time when the blog was having one of its Clare Grogan love ins (went on for weeks with “I kissed Clare Grogan ” and “I never kissed Clare Grogan but I kissed a guy who did” etc ) until I felt obliged to call time on the Grogan talk. Nobody objected and the Clare Grogan talk continued.
CQN a club open to all..except bald and hairy dog lovers from Clydebank or Coatbridge who may or may not have bought Clare Grogan a toasted cheese sandwich.
DAVID66 on 3RD APRIL 2018 11:03 PM
He got a two game ban for the Huns red card, we’ve played two games since, he was suspended for both.
It’s cheese on toast ffs!
DAVID17
Naw
Thank God that’s us all sorted out on the dog front. Hoopy will be well pleased.
Meanwhile Aberdeen have leapfrogged them and Hibs are only a point behind. Might not mean much in terms of Euro entry unless those at Hampden grow a pair.
But it’s worth it for the humiliation of thinking they were coming after us! 3rd. possibly 4th. Ha feckin ha.
WITS,
dont you might not believe this but i used to walk
Clare Grogans dug ;-))
David17
I thought that might be it right enough.
Thanks
D. :)
ONLYMALLONY on 3RD APRIL 2018 10:17 PM
No excuses for holding back on the fixtures. People need to make travel plans etc.
Level 5 just rubber stamping it……
JIMTHETIM53 on 3RD APRIL 2018 11:08 PM
Thank God that’s us all sorted out on the dog front. Hoopy will be well pleased.
Hoopy? Now you’re talkin’……..there’s a REAL dug!
DD
Have you told WITS about John Gordon Sinclair ( he who played opposite Clare Groggan in GG) staying opposite the Kwood shopping centre.
Don’t hit me WITS.
D. :)
to all you ghuys, who have supported me tonight, one thing i will say i will support you to the end of my days. love you to bits.hh.
BP love yer passion big mhan.
Hail Hail fellow Tim
D. :)
Nytol. Time ti hit the Kennel.
Embdae handed in a title race?
JIMTHETIM53
The Huns will go toonto if NFL finishes above them.
D. :)