Commenting on following on from his predecessor Dr John Reid, chairman Ian Bankier, told a Celtic AGM he was not a man to deliver an insightful one-liner but Celtic’s Preliminary Results, released yesterday, are best summarised by the chairman delivering exactly, that, “This year demonstrated above all, the impact that football success brings to Celtic plc in its current shape”.
In short, there is no success, debt reduction, profit increasing, stadium improvement, squad development, retail or PR, without football success, those who suggest otherwise are overlooking the obvious.
These are wonderful financial results, delivered against an uncertain landscape when some, who should have known better, were delivering all kinds of alternative predictions for Celtic’s future, but there are cautionary tales within.
Any single event (in this case Champions League qualification) which can increase turnover by 47.7% is to be welcomed, but this is sport, where qualification cannot be guaranteed, no matter how many resources you commit to getting there. We don’t have to look far to find the unedifying consequences of clubs who bet the tax money on getting to the Promised Land. The challenge for Celtic is to fortify football operations every season without gambling recklessly.
In the year to 30 June 2012, when more season tickets were sold and we reached the Europa League group stage, turnover was £51.34m. This is by no means a worst-case-scenario going forward, but it is a good budget starting point. With operating expenses, including significant bonus and Champions League costs, coming in at £62.71m last season, our potential loss from failure to reach the Champions League is of the same order as our actual profit last year. Any individual bad season would not wreck plans.
Like-for-like merchandising sales were up 29% on the previous year. Celtic put this down to three elements: Champions League participation, improved retail performance, in particular at Glasgow Airport, and 125th Anniversary products.
It is likely that recent changes in the UK sports retail market has had a greater impact in Glasgow than any other UK city. Sports Direct consumed JJB during the period and are now the overwhelmingly dominant sports retailer in the UK. The firm’s owner is also one of the largest shareholders in a new Glasgow football team, who’s merchandising Sports Direct now operate. I’m delighted Sports Direct own other local football brands but Mr Ashley will have discovered that you can’t ride two horses in this town.
In 2011 and 2012, with significant changes in Scottish football up for grabs, we debated the potential impact on our club. Looking back on subsequent events it is clear to see that the arms race we were embroiled in for around a century was not good for Celtic, not good for any other Scottish club and not good for Scotland as a whole. Football today is like a breath of fresh air compared to the way things used to be.
Read ‘em and weep, Armageddon-merchants.
1254125 at The Great Scottish Run.
On Sunday 6 October there is a 10k and Half Marathon. If that is beyond you. There are family events taking place the day before. This is your club, remind the world of what really counts and get involved in 1254125.
The first thing you need to do is sign up for the Great Scottish Run, or here for one of the family events.
Once you’ve done that, you can register for the 1254125 campaign here.
Then you can create a donations page here. Click Start Fundraising, search for Celtic Charity, setup your My Donate account).
Email me and let me know if you are having trouble signing up or need any more help, celticquicknews@gmail.com.
To read the new issue of CQN Magazine click here (don’t try to read the graphic below).
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304 Comments- Pages:
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Paul67
All well and good but why are we buying so much Amortisation – it’s costing us a fortune and we don’t need it.
Surely we shoudl just do without the Amortisation (after all, who’d miss it?) and spend that money on footballers!
Harrumph.
SwanseaBhoy
On the other hand we could have splashed out and bought expensive MF/strikers and could still have blown it v Shakhter K.
Then we have some pretty expensive, demotivated and diminishing assets on our hands, with a season income well below what we had last season.
Life is indeed a gamble.
We finish up with a loss of £9m if we don`t qualify for the CL
How much of that £9m would be covered by EL participation ?
How much of the operating expenses inc CL expenditure and bonus ?
What is the bonus structure ?
Do players receive a bonus for winning the one horse race league ?
Removing bonues , CL expenditure and adding EL income ….surely we shouldn`t be too far away from covering the £9m ?
VJ = Vinnie Jones?
Falkirkbhoy- WGS made us a lot fitter in terms of stamina [ the best example is the E-T win over the undead in the Diddy Cup].
But ther emust be more to training than just stamina- you have to work on skill, and if possible, pace and acceleration.
There are times we may not make the group stages NO MATTER HOW WELL WE PREPARE,
Being in a position to take the hit is crucial,
IMHO making the last 16 this season ensured that we are in a position to do so.
live today but plan for the future csc
Till later all
nursery run
“…….but Mr Ashley will have discovered that you can’t ride two horses in this town.”
Well he is fat enough…
Auldheid – with you all the way on summer football.
It would greatly increase the chances of other Scottish clubs reaching the EL group stage, which would in turn increase the national co-efficient and hopefully reduce the number of CL qualifiers we have to play.
It should also bring in larger crowds and greater tv revenue. We would hopefully see a better standard of football, with better playing surfaces, which would also help to minimise the gulf between domestic and european football.
It’s a no-brainer for me, but the charlatans running our game didn’t even discuss it following the demise of a certain club!
T4
Keepthehighballslow
I believe Bishop Crosas CSC is an Aberdeen based Club that travels.
You’ll get them on Twitter at @BishopCrosasCSC.
SwanseaBhoy
http://www.insideworldfootball.com
Quite a few interesting articles……..
Tommytwiststommyturns
I would rather be lucky than good.
Falkirkbhoy- just read this, a good initiative indeed but too late for me, already made my plans for Saturday.
MJ should have acted a bit quicker.
Hope this idea gets repeated in a reciprocal fashion by all clubs.
Penny is dropping on FF..
…their ‘model’ is better than ours: less boom and bust, better scouting, far more income from player sales, and less ‘periods of catastrophe’.
Auldheid
12:40 on
24 September, 2013
Or go the whole hog and have a Scandanavian style summer league running from Feb/Mar to Oct/Nov. Complete shutdown Dec & Jan, and winter transfer window becomes the more important one. More attractive to TV companies as no competition from big European leagues during the summer months.
weeron
Have to run after this.
“Waiting until the end of the summer transfer window may no longer be the best approach. One could argue that, only this week do we have our full squad available – and it is mid-September.”
We did not do this. Like most other clubs, including CL teams, we did some early business where everyone agreed, seller, buyer, player and agent. We did some business midway through the window and we did some at the last minute. Just as Real did with Bale and Man U did with Fellaini.
I’m afraid we cannot square this circle and get all our deals in early as selling clubs use the window to start bidding wars. You could avoid that pressure by only buying your 3rd or 4th choice targets as you may get a more willing seller there, but clubs with wanted players want top price and will not roll over to Celtic.
We will have more of the same in January and next Summer. What ever business we do will be criticised and get the Goldilocks critique (too late, too cheap, chased off by Bears) :-)
TTTT 12.41
You know what Gary Player famously said about ‘being lucky’.
:¬))
I’ve concluded that this argument about do we invest/gamble enough is unwinnable by either side.
This year, people like me win the argument because we’ve qualified for the CL and we look pretty healthy. Next year, people like NegAnon win the argument if we don’t qualify (no disresepct intended NegAnon – you’re the first person I thought of who has consistently held a contrary perspective to mine).
On balance, I think the Club have it about right but it won’t feel like that the first time we don’t qualify.
SwanseaBhoy
Good job wee Shaun wasn’t transferred to St Johnstone or the entire SPL would all be blowing oot their e(⊙_⊙)(⊙_⊙)(⊙_⊙)(⊙_⊙)
Mince CSC
Had we not sold Ki last year would have been marginally above break even. Loss to break even is the difference Champions League participation makes based on our salary and cost structure in 2011/12. I believe we have addressed that and the squad is leaner.
We have cash in the bank at 30 June because the season ticket money is (largely) in. CL tickets and player sales (if income not staged) means we’ll maybe not use the overdraft till the turn of the year but with costs of £60m+, we will still be using it.
Celtic’s accounts do benefit hugely from Champions League revenue but true sustainability, while we play in the SPL, is:
1. Punters through the turnstile
2. Talent development and sale
Looking at availability on the ticketing site there will be a paltry crowd tonight. I have no complaints, we’ve just shelled out for 2 qualifiers and the group stages, as well as new strips, the Stan game etc, but Motherwell next week and all the other home fixtures are not makeweights that the Champions League should compensate for. We need the fans behind us every step of the way and let the CL bonus be just that, additional income that we can use to lay platforms for growth, youth, talent ID, infrastructure that provide the sustainable income. If CL becomes the fans ‘fix’ we’d be in trouble. Linking access to CL tickets to season ticket ownership is the only way to go.
How do we excite the fans in the SPFL when they can get (this year including qualifiers) at least 12 CL games home and away, TV or in person. Perennial qualification will need this addressed, failure to qualify would give us a double negative of no CL income and resultant negativity around the domestic offering.
The Club has a strategy, I respect that entirely. That strategy limits player spend to somewhere around £2.5m. I reckon it’s time that was looked at. How many season tickets would the fans’ choice of player add to the gate, with resultant peripheral spend, and habit and routine forming in the younger generation. Child ticket prices and new area this year was a fabulous incentive and has worked to some degree. How many more adult tickets would have been sold had we captured the next level of player. That is a risk, of course it is, it’s also a marketing and sales initiative. If the player is young you lessen the risk on recovery of your outlay, if the wages are no higher than the £2m player there is nothing incremental. So for example (and thankfully he’s had a good start so no negativity here) at one point Finbogasson was mooted at £6m. Pukki was £2m. Assuming they would command similar wages, over a 4 year contract that’s an incremental cost of £1m per year. It’s totally subjective but how many season tickets would have been sold with the marquee signing. I honestly don’t know. It’s an unfair comparison to the new bhoy Teemu and I hope he’ll be a rip roaring success but it’s the general point. You could find Teemu’s value rockets like Victor’s. Alfred may be a flash in the pan.
The point is we need to think about filling Celtic Park again for domestic football. That’ll be a mixture of price and product. The price can’t go any lower and we’ve 4 sections closed on the LL upper. Maybe product then. What’s the risk if we try an alternative strategy next year and set the price bar that we bit higher. Just hypothesising cause I’m having my lunch.
Anyway, looking forward to tonight, I’d love big Rogic to stake a claim on a place. Guy seems to cover the ground brilliantly when running with the ball, back to front quickly, a massive part of the game now. Game time and confidence. McGeouch needs time too, he destroyed Raith Rovers at this stage last year, with Derk on the other wing Morton could be in real trouble of a doing, and a Teemu hat trick could really bed him in or the long haul.
Mon the filthy rich hoopsters!
DBBIA @ 12:45 – “TTTT – you should get him to pick your gee-gees” lol and ouch! :-)
I could certainly do with some of ole Pedro’s magic!
T4
KK
Granted Di Canio was an immensely gifted footballer and a highlight at Parkhead when they were rare.
However, just for me personally, his off field persona and his politics outweigh what I witnessed on the park.
Modren double negative of no CL income and resultant negativity around the domestic offering is rubbish.
falkirkbhoy says never give up oscar
12:44 on 24 September, 2013
YorkbhoyI seem to recall some scary final minutes in games at parkhead. Also a final game of the season when the team looked dead on their legs and we lost the league.Chris Sutton at the corner flag against Aberdeen at home I think playing for time.I would say the complete opposite to your comment. Allowing players not to train during the week and then play at the weekend the fitness was at a long time low when he left.WGS made a massive difference in our fitness levels.
Mind reading a story about WGS taking up a managers job prior to Celtic. Was along the linesof a workman stating that he was doing work in the ground and WGS had the players out training constant, something he hadn’t seen previously. Fitness gives you an edge, I wonder if Scottish players or teams just do enough to get them bye. Whenever you see any training clips on TV it’s just a wee light jog, a wee laugh in amongst it….
Get them oot running six miles every other day, sprint training in between those days and ye’ll no be long in being up there in fitness.
Maybe they do, just saying
HH
Regarding fitness levels last 20 minutes of the Meeeelan game Celtic looked dead on their feet
Don’t like this talk of the treble, and the Morton game tonight, there’s a quadruple to be won.
OldTim
I’ll tell you a couple of tales about Watt when next we speak.
TTTT -you’ve replaced Ian Black as the bookies’ pin-up punter ;/)
And quite right too, you’re much better lookin’.
League Cup Record v Greenock Morton
18/08/1951 Section H W 2-0 Evans (29), Heron (35) 40,000 – Gil Heron scored on his Celtic debut
01/09/1951 Section A L 0-2 21,000 HT 0-1
29/09/1964 SEMI Ibrox W 2-0 Lennox (54), Gallagher (88) 60,000
11/10/1967 SEMI Hampden W 7-1 Hughes 2 (4, 66), Wallace (7), Johnstone (18), Lennox (20), Craig 2 (21, 53) 45,662 HT 5-1
14/08/1968 Section H W 4-1 Wallace (16), Hughes (21), Murdoch (50), Gemmell (69 pen) 41,000 HT 2-0
28/08/1968 Section A W 3-0 Wallace (8), Lennox (33), Hughes (63) 25,000
18/08/1971 Section A W 1-0 Lennox (58) 20,000
25/08/1971 Section H L 0-1 27,000 HT 0-0 – Dalglish missed a penalty
21/08/1991 Round 2 A W 4-2 Nicholas 2 (21, 44), Creaney 2 (28, 41) 9,518 HT 4-1
P 9 W 7 D 0 L 2 F 23 A 7
Win Ratio – 77.8%
All Time Competitive Record – P 145 W 101 D 28 L 16 F 328 A 112
KK @ 12:55 – very true, auld yin! :-)
May the luck continue, but my beef is about the level of risk we take.
T4
Auldheid at12:40
Fully agree with your post and this change would lead to much more TV coverage and therefore higher revenue.
HT…..
Defer to your acquaintance with TB, and agree with your assessment, but still no getting away frm the fact that DiC was a good player for us, and at that time his beliefs,if he had them, we’re hidden from us.
Ole Old Tim should get wee Tony Watt to chauffeur him around for awhile.
That will teach young Tony all about sociable socialism.
I was at that game in 1967 at Hampden.
Back in the day when Morton had a team and a player called Preben Arentoft who went on to help Newcastle win the ole Inter Cities Fairs Cup.
Fine midfielder.
25/08/1971 Section H L 0-1 27,000 HT 0-0 – Dalglish missed a penalty
WG -is that a real 27,000, or an ole Desmond White 27,000?
DBBIA – and I’m currently doing a lot of painting and decorating in the ole money pit !!
The bookies won’t grass me up though, as I’m giving them too much money…! :-(
T4
RANkERS owner Charles Green last night insisted the Ibrox club would be in a stronger financial position than Celtic in a year.
The battered and bruised club began life as a newco with an edgy extra-time 2-1 Ramsdens Cup win at Brechin but the new chief executive was bullish about the club’s future and claimed within 12 months their balance sheet would be stronger than the SPL champions.
Green said: “If you look at the balance sheets at the end of next season you should see the strength of the two companies.
“We are in the Third Division and Celtic are in the SPL and what I’d like you to do is promise me at the end of this season, when all the games are played, examine the balance sheets of the clubs and tell me which one is the strongest?
“Then let’s see who has got the strongest balance sheet.
“We’ve not got the debt that any of these clubs have and on the last day of the season I would really enjoy some clever financial analyst looking at the balance sheets and debt-to-equity ratio of every club in Scotland.”
Green revealed he will jet to London today to start the process of bringing £20-30million investment into the club by floating them on the stock exchange.
He said: “We said we would raise between £20million and £30m but the reason we couldn’t put the season tickets on sale was the same reason we couldn’t go out and raise further money until we knew we had a football club that was going to be allowed to ply its trade.
“That’s why we got that signed off on Friday and we have a meeting at 8.45am on Monday so we are hardly letting the grass grow under our feet.
“This is the start of the process on Monday when we go to London to start the meeting with stockbrokers.
“That is when the fans can take up ownership. They can buy into the club.”
Green, who revealed the newco will change their name to “The Rankers Football Club” this week, said he had no intention of cashing in on Ibrox or Murray Park.
The chief executive said: “Ibrox and Murray Park are owned by Sevco who will be changing its name to The Rankers Football Club.
“All the assets are owned by the company and nobody is trying to do anything with the assets. Ibrox and Murray Park won’t be sold.”
Waaahhhhaaaaahhhhhaaaahhhhaaaa
and they believed every word of it
wwwwaaaahhhhhaaaahhhahahahaha
stupid stupid gullible zombies
=============================================
By Alexander Krassimirov
September 24 – Bulgaria’s CSKA Sofia will work together with Scottish giants Celtic, according to Laurence Davis, the English chairman of the club’s Supervisory Board.
The British businessman was on a three-day visit to Bulgaria, his first since he was named as the head of the club in July this year.
Davis said he has held talks with his counterparts from Celtic and soon expected both clubs to start cooperating. He revealed that he had also held talks with Everton and business groups from Qatar, the UAE and other countries from the Middle East.
The main task of the new leadership of CSKA will be to bring back the club in the Champions League and create a strong youth academy.
“When I was young, I loved the football a lot. At that time, one of the biggest names in Europe was CSKA. Everybody knows how they conquer Liverpool in the European Cup (now Champions League). CSKA is an illustrious club, giant with many problems at the moment, which suffered from its previous owners, but it will no longer continue”, Laurence Davis said at a press conference in Sofia.
“In the last two days I talked to many people and saw a lot of enthusiasm, but also a concern. The main goal that we set is to bring the team back in the Champions League. After the problems in the summer when we were left with only two players, now we have a strong coaching staff and a much better team. During the winter will bring more new players”, he added.
“We had talks with Celtic and we’re close to partnership. I have talked with Everton, as well as representatives from Qatar, UAE and other Middle East countries. CSKA should develop a strong youth academy, because everyone knows that footballers like Dimitar Berbatov, Hristo Stoichkov, Stiliyan Petrov and Martin Petrov, all started their careers at CSKA.”
“It is clear that we will never be able to afford to buy Gareth Bale, but we can create it. Moreover, the Bulgarian national team is stronger than that of Wales”, concluded Laurence Davis.
Back in August, CSKA signed a contract with financial consultants and accountancy firm Ernst & Young. The club is preparing to become Bulgaria’s first quoted club.
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dontbratt –
aye those 70s and 80s attendances were regularly Whitewashed and smoothly (down)rounded to the thousand
regards to you and yours
WG, ML2