Solid accounts figures from Celtic despite £7m


Celtic released accounts today for the year ending 30 June 2012, a season in which they won the league and exited Europe at the Europa League group stage.  Turnover was down less than £1m at £51.34m but bank debt rose £2m to £2.77m despite a £7.37m loss (the difference between the increase in bank debt and the trading loss is due to the amortisation of player registrations, which hits the accounts evenly over the period of a player’s contract).

Football and stadium income dropped by £2m and merchandising dropped by £1m while multimedia and other commercial income rose almost £2m.  Football and stadium operating costs rose by over £2m.  The drop in stadium revenue and corresponding rise in costs are indicative of the wider economic pressures.  Inflation is affecting Celtic’s costs and Celtic fans’ ability to spend with the club.

With debt sitting at around 5% of turnover and a significant uplift in income this season assured, the club is in remarkably rude health this far into an economic downturn.  Champions League revenue this season should have a transformational effect on how Celtic can forward plan, potentially reversing that £7m loss.

Economic headwinds are likely to supress key ticket and merchandise revenue for the foreseeable future but Champions League revenues seem immune from these challenges.  The primary plan for this season must be to qualify for the group stage of Europe’s top competition next season. Get there and we can continue to operate with the existing cost structures (and more) and still pay our taxes!

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  1. ernie lynch



    17:10 on


    18 September, 2012


    ”RANGERS will tonight send their support to those who lost loved ones at the Hillsborough Disaster with a minute’s silence before the game with Queen of the South.



    A total of 96 Liverpool fans perished at the FA Cup semi-final between the Reds and Nottingham Forest in Sheffield on April 15, 1989.



    It is completely unimaginable that anyone could attend a football match and never return home from it safely.



    The Rangers family can relate to the sorrow felt by families on Merseyside and beyond following the loss of 66 Light Blues supporters who died in the 1971 Ibrox Disaster.



    We hope the independent report released last week will help to bring some level of comfort now the truth about what happened that terrible day 23 years ago is known.



    Rangers and Liverpool followers have a strong bond as they have united to commemorate the tragedies which have so very sadly marked the history of both clubs.



    We ask everyone attending tonight’s Ramsdens Cup quarter-final with Queens to join us as we pay our respects ahead of kick off.”






    I wonder when the huns will start asking who was to blame for the Ibrox disaster.






    They don’t do self analysis. Don’t like what they find out.



    On that vein though, anyone who has never read this piece, take 5 to read it. It’s well worth it.



  2. Celtic a whopping £3m in debt ….how dreadfully concerning for a company with a turnover of over £50m ..aye right



    Can’t help shake the feeling that the fans were being fed a line as the transfer window closed



    A significant drop in squad numbers , sale of Ki and others and CL qual ….why couldn’t we have done better in the transfer window

  3. Those of you who have been long term followers of is blog will know that over the years I have been both critical and supportive of the Celtic board. The period around “Willo Flood Window ” was a low point for the board.



    Opportunities were missed, and to make it more galling these coincided with Executive Pay hitting an all time high. I and others were very critical. I think we were right to be , and the criticisms were justified.



    Since then the board has got a grip of strategy and has taken the club in a positive direction. We will shortly , in my view, be proved to have been cheated of many titles. We can’t forget either the incredible performance of Scottish referees during season 2009-10. Whether the SFA has any appetite for yet another enquiry is debatable, however this is and was a shameful period for Scottish sport.



    These were mitigating factors, however board performance in those years was poor. It is only fair then to give credit to the board, and to the CEO , for the transformation. We could still improve at board level. There are non execs who have been around far too long, and some areas are still underperforming.



    The next couple of years should see some welcome stability. The plan to develop young talent is working. We will not have to face the pressure of a corrupt opponent in domestic competition for a few years. This will allow us to build the balance sheet for the next stage.



    The next stage itself could be intriguing . The chances of The Rangers successfully exiting their current precarious position and returning to be a force are no better than 50/50. That may open doors for us, and may provide a platform for Scottish football to reinvent itself , with or without us.



    The very best thing we can do , is what we are currently doing. Play in the CL , develop new talent, and sell one every year or so for a Sizeable fee.



    As far as strategic plans go, this one is currently hitting it out of he ballpark. Credit to all concerned

  4. My Dear Kojo….



    Struggling to be optimistic about tomorrow night’s encounter with Benfica..



    A fully fit Joe Ledley is essential to our team….



    He gives balance and stability to our midfield….



    Does all the seldom appreciated spade work….and provides cover for the occasionally wayward Izzie….



    And still manages to come up with vital goals….



    If one does not readily appreciate Joe’s contribution when he is actually playing in the side….



    One readily notices a considerable deterioration in team performance ,when he is absent….



    We must seize the initiative tomorrow..



    With a creaky defence and a threadbare midfield….



    ‘Attack’ should be our best form of Defense…



    Take the game to these fragile Latin Primadonas….



    And watch them fall apart….



    Giga-Watt MUST be the first name on the team sheet…..



    With either Miku….or the Girnin’ Gary Hooper playing second-fiddle…..



    Watt & Forrest are the players who make things ‘happen’ for us in attack….



    Hooper simply hangs around….waiting for things to happen….



    With Commons on the Left Midfield,Wanyama and Brown/Twardzik Central….and Forrest terrorizing them down the right wing….



    We should be three-up by half-time….



    And can bring on Matthews ,in place of Forrest….to see the game out…..



    Let’s Take Inspiration From The Dashing Spirit Of Lord Nelson….



    Back In The Day….



    Let’s Slice The Arms Off This Portugee’ ‘Man-O’-War….



    Sounds Like A Plan …?

  5. The exiled Tim



    I wear Ralph Lauren polo stuff ….the polo shirts are not too dear but are of significantly better quality than anything CFC sell



    Did buy a decent hoodie recently at only £40

  6. Mrs BT has argued that she should have the CL ticket for tomorrow evening..



    this having just watched the Benfica team arrive at Glasgow, I fear it has nothing to do with football…

  7. fanadpatriot



    16:58 on


    18 September, 2012




    I agree there is obstacles to overcome.Tomorrow we play Benfica,they are a club we should look at ,as a model,they are one of the best supported “Clubs”in the world.IMO membership is the way forward.Do you know that there is 50million people of Irish decent in the USA alone.Now I know that some on here will scoff at that comment,but as one who spent his working life in sales,I know who I would target.IMO.HH.



    Totally agree.



    Im in oz and would love to do something. Overseas season ticket is far too much for me but i would gladly do something.



    Club shop needs sorted. I orderd away strip and got it over 2months later.



    The derry club shop has been closed down so cant get family to buy from there. I will order the anniversary kit and give the shop 1 more go.

  8. saltires en sevilla on

    Paul67/Auldheid et al



    If you are around?



    I would be interested to know how our average annual gross turnover c £50m compares to other non – top 5 countries… and how those smaller countries/teams compare in terms of Euro CL or EL performances.



    It seems to me we don’t get bang for the buck …money we do have seems to be squandered



    £1m quid (pre-tax) a week playing in a stadium we own -surely to gawd we should be performing better?



    My point…



    If we do have a membership scheme (and I support you 100% on that ..) and harness the squillions of untapped Celtic market and get more bucks for tv etc., etc.,



    What assurances do we have that our leaders can be trusted to spend that money well?



    I am looking forward to Benfica tomorrow night, taking my daughter – her first big ‘euro nights’ season, and the feeling is superb



    Just a nagging doubt there is a fundamental flaw in the way we are structured -how we prepare for the start of each season – our development programmes -dareisay customer service? etc, etc



    50 million quid – it has been much higher!



    Something…somewhere in the background doesn’t feel right




  9. Owen Rodgers 917 379 0955


    Chair owenrodgers@mindspring.com


    Press Statement


    A Groundbreaking Tribunal to Examine the Irish Famine


    A Famine Tribunal will be held at Fordham Law School, New York City, on October 20 2012. The


    Tribunal will assess the Great Irish Famine within a legal framework.


    Even to this day, the Irish Famine (also known as the Great Hunger) remains one of the most


    lethal famines in modern history in terms of deaths and dislocation of population.


    The object of the Tribunal is to assess the impact of the Irish Famine on the Irish population,


    and to examine its political, economic, cultural and physiological legacies, all within a legal




    The Tribunal will also investigate the various steps taken to counteract its severity by the


    responsible institutions of government, not least the parliament at Westminster in London,


    which at that time governed both Britain and Ireland. Account will be taken of the number of


    deaths occurring in Ireland between 1845 and 1852 arising from starvation, malnutrition,


    famine‐related diseases and exposure.


    To this end, the Tribunal will bring together ‐ from Ireland, Britain and the United States ‐


    expert witnesses and lawyers. It will also offer students and teachers in related academic fields


    the opportunity to explore this tragedy from a unique and ground‐breaking perspective.


    A second day of activities will be devoted to educational issues, including a study of famine in


    today’s world.


    For further information


    Visit the website at: http://www.theirishfaminetribunal.com


    And follow us on Twitter: @faminetribunal

  10. Saltires..



    enough, or you will be condemmed to the mine shaft with us who have the temerity to question the running of the club… o))

  11. Reading comment about inverness club went from few buses to small bus is sad to hear.



    Club should try everything once..free coaches or simply give away a thousand tickets to school children for normal league game. Hopefully an adult gets dragged with them resulting in more ticket sales.



    More can and should be done to bring the celtic family together so we can move our club forward together.



    Espcially now when the huns are dead and buried.

  12. proudbhoy



    I was in a bad position today…



    orcs/sevco fans are worse than ever.. I was too disgusted and shocked at their behaviour to say a word, I just got up and left..



    sometimes saying nothing makes a better point..

  13. Anybody know what the Stirling chairman said about the Huns



    Apparently he made comment on fans forum and has resigned ….



    I’ll take a guess that he was telling the truth and calling them what they are

  14. Big Efe , reporter asks ‘ are u ready to play’ ……… ‘Of course ‘says the big man…………like his style!

  15. ….PFayr



    As I said, I would happily pay good money for quality.



    I bought a Nike Celtic top, classed as a golf top, wasn’t the cotton, more like synthetic, cost 50 quid, still like new, and I would buy whatever new top came out, if the quality was there.



    I think the club are losing out, but what would I know….

  16. Squad for tomorrow: Forster, Matthews, Lustig, Wilson, Mulgrew, Izaguirre, Rogne, Forrest, Commons, Brown, Ambrose, Wanyama, Hooper, Keatings, Lassad, Miku, Zaluska, Chalmers, Watt, George.

  17. Bada bing



    Shocker….. Lucky didnae try and get him lifted for being offensive with a religious prejudice aggravation




    Hells teeth they call themselves Huns

  18. FIFA confirmed two months ban for Benfica captain Luisão in all competitions incl. CL. He won’t play tomorrow.

  19. Deary me the loon are out in force on close tonight .


    Anybody hear that rocket just on?



    Man newco fans are hurting bad .;-)




  20. PFAyr



    See the post timed @ 09:42 hours on the previous thread from today regarding the Stirling Albion Chairman

  21. !!Bada Bing!!


    18:28 on


    18 September, 2012


    HC-Paul George back fit again…..




    Sorry BB ignore me, that squad is from sporting life ……………….doh!!!!

  22. If the authorities governing Scittish football are afraid that the huns will “kick of” upon the stripping of titles then what does that say?

  23. Paul67



    Looking at the figures it has to be three cheers for the mad, mental, mentalist of Sion.


    Take out the EuL numbers and we would be looking at a train wreck of biblical proportions.



    PL has reduced us to a selling club where it needs luck rather than skill to get us above £50mill in T/O. Interesting to see what his bonus will be this year and last, plus the issue of dividends looms large – is it an annual payment or do some level of performance criteria need to be met?



    Finally I think that no EuL money and Ki was for the off in Jan last season.


    This may explain his poor on field attitude in the autumn last season.


    That is the downside of becoming a selling club.


    We need to sell and the squad no it.



    Consequently I will hang back from the cries of congrats to the board and PL.


    PL needs to go and the new guy in the boardroom needs time to produce results.


    One thing is for sure we need a spark to get us back to the good old days.


    This season’s CL group stages may be that spark but we need progress.



    We need to build the brand, the squad and the stadium / match day experience.


    We need a “Reserve” stadium at Parkhead and we need vision to make the most of the CG both for Opening Ceremony at CP and the crowds the venues across will generate both then and into the future.



    Our efforts so far have been poor quality retail park at best.

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