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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BMCUW @ 02:08
Herald has been paving it’s way towards change of loyalties for some time.
NEVER to be trusted.
Nowt for our Club to explain itself. But PL et al. obviously think different.
The times they are a changing.
We know nothing amigo. Nothing.
Am not complaining. I’m comfortably observing :)
Right about now the slimy green fella must be sittin’ in his y’s thinkin’ : “how did it ever come to this? How am Ah gettin’ outta this? ”
He’s insinuated himself into a nightmare of his own making, wrapped hinself in orange velcro, pulled out his bullhorn and headed for iPox.
Now he’s stuck. A share issue? Don’t make me laugh…it’s a beggin’ bowl,ffs.
Right now he’s wonderin’ if he can pull the old switcheroo, nick at least some of the p.a.y.e and taxes ; well,it’s worked before and CW still has his gaff in Monaco? Right? And Craigy’ll always have a spare verandah for Chucky to kip on. Right?
And the panic will increase as he realises he can’t unload this turkey….not even for a nugget.
It’s toxic, it’s rotten, and after all th ranting and raving, the whole world’s got the picture.
Charles Green, easy money junkie, gone a step too far this time. If the poorhouse or debtor’s prison still existed, he’d be hearing their call right about now. As it is, the best he can hope for is bankruptcy or a moonlighter.
Stupid huns & greedy man : a match made in Govan.
Btw, ‘james forrest is neil lennon etc.’ : what a brilliant post.
HH!
MIKI67
You paint such a pretty picture;quite splendid,in fact.
The deluded Rangers fans surely have to waken up,etc.
And don’t forget that Charliebhoy,as well as drawing a salary at the moment,is also charging 8% interest on money spent so far.
I wonder if he’ll do the same with the fines he’s gonna incur…
Jude 2005 asks, “is that a family trait thingy”.
Well jude, I would say definitely. I know of at least four, possibly five generations of my family who have despisef the hun and what they stand for.
Some, in fact, most of those generations are now gone but my feeling lives on.
Please put your question to me again, with more specific points. If you doubt my credentials. If i,ve taken you,re point the wrong way, i apologise. If not, come see me at half time tomorrow . 406, S, 17.
HH bruv.
FFM
I doubt ANY paper is to be trusted these days.
When I look at the date on one,I check my calendar!
Off 2 bed now. thats the lidls whisky belted. Tassted wurrse BTW.
HaiL HaiL
ACEILERGONOFRUST
Wishing you hadn’t used an anagram which include the letters rangers,or huns?
Enjoy the match,bud-wish I was going.
A C G R
Blesss you my son!! Go 4th and kong kerr!!
Good fholks !!
My fav CQNers tonite. I luvs it :))
Again.
Enjoy:
https://www.youtube.com/watch?v=nv6h8Q3p6FA
Class singer!!
http://www.youtube.com/watch?v=6Mylo0piAgc&feature=related
Saw the first half of the sevco game in the pub before going to the cinema, I’m pally with barman who is a sevcovian and he was angry in the first half never mind later!
Best bit was that there was one of the more extreme Sevcovians hanging off his bar stool blabbering to anyone who would listen about the EBT Henrik Larsson apparently had (“I’VE SEEN HIS SECOND CONTRACT!!” yes, he actually did say that lol) after I made the point that a single, correctly used and declared EBT for Juninho was a bit different from a the systematic way Rangers (RIP) used them to cheat the system for players, managers, chairmen etc etc. Needless to say reason, logic and facts were dismissed out of hand.
When I think of how much that guy will be hurting tonight, I smile.
It’s all going to come crashing down. Again. And you just know when it does that guy at the bar will be the one crying “NOBODY WARNED US!!!”
No. You simply wouldn’t listen.
Peter dismisses talk of reconstruction, EBTs and Green’s charges of undue influence.
http://www.scotsman.com/sport/football/spl/peter-lawwell-catches-whiff-of-paranoia-as-he-rejects-rangers-ebt-complaints-1-2534512
By STEPHEN HALLIDAY
Published on Wednesday 19 September 2012 00:00
CELTIC chief executive Peter Lawwell has dismissed complaints from Rangers of uneven treatment from the Scottish Premier League over the use of Employee Benefit Trust schemes.
On the day Celtic announced a pre-tax loss of more than £7 million for the last financial year, Lawwell also scoffed at suggestions he now enjoys an improper degree of power in Scottish football.
Rangers chief executive Charles Green last week claimed “powerful representatives” from SPL clubs were “hell bent on inflicting as much damage as possible” on the Ibrox club in the wake of their descent into liquidation and Third Division football.
As an SPL independent commission prepares to consider the case of alleged illegal registration of players by Rangers as part of an EBT scheme from 2001 to 2010, with stripping of SPL titles one of the potential sanctions if found guilty, manager Ally McCoist also hit out at the SPL’s decision to clear Celtic’s use of an EBT to pay Brazilian midfielder Juninho in 2004. But in a wide-ranging media briefing, Lawwell – who also admitted Celtic had effectively gambled on making their £7m loss to regain the SPL title – robustly defended both Celtic’s position and his own role in the administration of the game, which sees him sit on the SFA’s Professional Game Board.
“It’s absolutely straightforward,” said Lawwell. “We know we operated one single EBT. HMRC know how we operated that EBT. The football authorities know how we operated that. We’ve no case to answer. I don’t know how Rangers operated their EBT. HMRC know. The football authorities know and there appears to be a tribunal and a commission set up. So it’s straightforward. In some quarters, people have tried to drag us into the debate. But it’s nothing to do with us. It’s a red herring. It’s my understanding that it’s not about EBTs, it’s about dual contracts but, again, I don’t know how they [Rangers] operated it and I can’t comment. But I know how we operated it and so do the football authorities, so I think it’s quite straightforward and there should be no muddying of the waters.
“There is a whiff of paranoia around somewhere. I don’t have an undue or inappropriate influence on Scottish football. There is nothing covert in terms of what is happening.
“It’s been extraordinary what has happened to Scottish football and what has happened to one of its biggest clubs. So that leads to a number of dynamics and a number of accusations or people looking to blame others. My job is to do the best for Celtic and maximise the potential of Celtic. That’s my sole concern. Well, not my sole concern, perhaps, because I would love the game here to develop and, as part of the PGB at the SFA, I have a responsibility for the rest of the game. That sort of input, hopefully, will help.”
Reaching the Champions League for the first time in four seasons, with their opening Group G fixture against Benfica taking place at Parkhead tonight, has allowed Celtic to ride the financial storm created by Rangers’ crisis and the subsequent fall in domestic TV and sponsorship revenues.
Lawwell is satisfied with Celtic’s current position and believes the state of their relationship with the Ibrox club is now of lesser significance. “We said months ago that we had our own plans, our own strategy for particular outcomes,” added Lawwell. “We are keeping to that. We are coping well. Our supporters have re-engaged with the club. Our season ticket sales have been fantastic, taking account of the economic conditions. The three home Champions League games are sold out.
“So we are doing okay and I’d rather just concentrate on us. In terms of Rangers at the moment, we would be saying that we would give them the same amount of respect we would any other club in Scottish football.
“We would give them that respect and not interfere with their affairs or business. We would expect that same respect back. We are just getting on with it. I think there‘s less relevance now. When Celtic and Rangers were in the SPL, I said before that for two clubs who were so highly competitive that the relationship was good.
“The relevance of that now, with Rangers in the third division and Celtic in the SPL, is probably less so but we would give them at this particular time as much respect as we give any other club and we would like to see that reciprocated.”
While the annual accounts released by Celtic yesterday show a debt of £2.77 million, an increase on the £530,000 figure 12 months earlier, the recent sale of South Korean midfielder Ki Sung Yueng to Swansea City for £5.5 million and Champions League qualification effectively means the club are now well in credit at the bank.
“It is difficult to forecast and there are stock market rules,” said Lawwell. “But I think you can safefly assume, by doing the numbers, we would be in funds at the moment. The prospect of remaining that way is there. We have a duty to re-invest that at the right time going forward.
“Five or six years ago, we were maybe ahead of the curve. We saw that we could no longer compete with the big markets in Europe in terms of transfer fees and wage inflation. So we set about this new strategy.
“We could have eliminated the loss we have just posted by selling players in January. We had interest in one or two and we could have reduced our wage bill. However, we decided not to do that to go on and win the league and we were able to make that decision because of the financial strength we’ve built up over the years. Our debt level is really manageable.
“It’s about the importance of the Champions League and also player trading – finding good, undervalued talent and developing your own and giving them a stage. If they want to stay – fantastic – but if they want to move on to England or elsewhere, the path is there. That model has been built over the last five or six years and we’re beginning to see the green shoots of that policy. We have a good foundation today. There are huge challenges ahead for Scottish football, but we’re in good shape to face them.”
Lawwell, meanwhile, also cast doubt on any imminent prospect of league reconstruction in Scottish football, despite the ongoing efforts of SFA chief executive Stewart Regan to implement a new set-up.
“There’s nothing on the table at the moment,” said Lawwell. “I guess there is a body, or a group within the game who would like to see that, but there’s nothing on the table for anybody to consider at the moment.
“If anybody can show what is the benefit of any kind of league reconstruction then, clearly, we will sit down and listen to them. At the moment we would be saying that, if there is a will for a pyramid structure or a new distribution model, in principle we would support that because others would like it.
“But will it change the game or get more Scottish clubs into Europe? No. Is it going to grow the GDP or benefit the national team? No. So, in principle, fine. But is it going to make any difference?
“Not really, I don’t see it. But if somebody can come up with something, then fine. But it has to be more radical than the sort of discussions happening now. I think there has maybe been a lot of attention given to that and energy given to that which might have been better focused somewhere else.”
Related Articles
I saw Slippery Sally referred to TONIGHT as ….
.
.
LECOIST
Long may he stay in place.
Night Bhoys 3-0
http://www.youtube.com/watch?v=7_SIfLzccbc&feature=related
OK.
Enjoy:
https://www.youtube.com/watch?v=7LYfUtRSZ5I
https://www.youtube.com/watch?v=7LYfUtRSZ5I
Musnt titter musnt!! HaiL HaiL
Jude, i dont want you’re blessing. Just a straight question pal.
Acgr
Thought we were crashin at the beauty of Lykke Li. (https://www.youtube.com/watch?v=Oy7ugH15oqQ)
Anyhoos.
Spot the Differrence,
https://www.youtube.com/watch?v=Oy7ugH15oqQ
BMCUW, I wish you were a large titted burd that turned up on my doorstep tomorrow night after I return from CP wi a 3 -0 grin oan ma face.
If you are and you intend to to do so, keep the noise doon, As much as I like a grunter, Mrs Ceier needs her kip.
Nae woneder yon hun eddie ursus walked away from here. What a f****g welcome a celtic man gets.
I;ll enjoy the game bud, win / lose or draw. I’ll support the Celtic.
Paranoidfannies.com
BMCUWP…………………………………..
But then, you cant have everything in life that you “want”,
I’ll take a good result tomorrow / today, i dont care about the performance. Just give us a win. Give us a winning start Celtic, do it..
HH Bruv, I wish you could be here too. You seem like a right good tim:-)
Mrs. C just woke me up because I was sleep laughing
ACEILERGONOFRUST 0345
Cheers,pal-I’m gonna frame that!
No need to worry about me,my two sister’s will be there giving it large. They make me and Dad seem like beginners.
He can’t make it either,btw,as my Mum demanded a holiday at just the wrong time. He’ll be there for the other two though.
Off oot,work to do. Fingers toes and eyes all crossed for tonight!
Don’t tell McCoist ….
Ally McCoist …..
I just don’t think he understands…
And if you tell McCoist…
Ally McCoist….
We’ll all start laughing in
this land……
Just went for a wee hunt to see what you guys were on about after being out of touch last night.
Magic! It just keeps giving……
Morning Celts, a solid performance backed by a magnificent Celtic support on a CL night should bring us at least a 1 goal victory, that would do it for me. It’ll waken up Europe that Celtic are back.
C’mon Lenny’s young Lions.
HH
Couldn’t resist a wee peek at ff. Someone’s posted this….I can’t get it to play past the first few seconds but I suspect Green insults our country in it….
And now the link…
http://www.youtube.com/watch?v=OEh8jMLQMsk
This may have been posted already so my apologies if it has.
Update from Wee Oscars Mum & Dad
http://oscarknox.blogspot.co.uk/2012/09/radiotherapy-gets-underway-and-all-rest.html?m=1
Radiotherapy gets underway (and all the rest…)
WHAT a month. Both very good and some very bad. I honestly don’t know where to start – can you imagine trying to go back and write a diary account of your life for this past month? Where you were, what you did, how you felt… I don’t know whether to split it up into separate posts or just do a huge “brain dump” in this one. Please don’t switch off on me, just go and make a cup of tea and have a packet of chocolate digestives to hand before you sit down to read this one…
First and foremost, the most important thing of all – Oscar. He has been well, REALLY well, during this break in treatment. He is full of fun, pestering his little sister Izzie, and just BEGINNING to act like any other child his age would/should. We are trying to build him up again since all that nasty chemo which really took its toll on him. His favourite foods right now are pure butter, carrot and parsnip mash, porridge and honey, and of course a full fry. At least McDonalds cheeseburger Happy Meal is no longer a daily request!
11mths old and several hair cuts already!
His finger nails have all fallen off, but are almost completely regrown, and there are hints of hair regrowth! Most people assume little kids Oscar’s age wouldn’t be too worried about their hair, but he really misses his. If we draw pictures with him we MUST draw his spiky hair, when he is getting bathed I have to “wash” his hair, and when Izzie is getting hers dried after their bath I have to dry Oscar’s too. He asks me to do all this, go through all the motions, but will then say things like “I need a new head, this one is no good”. When he first lost his hair he wouldn’t look at himself in the mirror, and seemed embarrassed by his appearance. It is the one thing that has constantly bothered him about all this – he asks almost everyday: “Mummy is my hair coming back yet?” Of course now everyone knows our little man as he is, everyone new in Oscar’s life is shocked by the fact he used to have a mop of thick red hair! I just CAN’T WAIT to buy gel for him, and run my fingers through it again, and take him to the hairdressers. Those will be great milestones, because I know it means so much to Oscar. Come on hair follicles – DO YOUR JOB!
Our fundraising campaign is going AMAZINGLY well – we’ve said it many times already, and will many times more I’m sure, but the kindness of strangers is unbelievable. It’s surprising the new people who come into your life at times of need, and who quickly become very important and special friends. Each and every single person who has organised or attended an event, bought a wristband or made a donation, is helping to give us hope of a future for Oscar – that kind of thanks can never be expressed. But THANK YOU, from the bottom of our hearts.
Oscar has an amazing effect on people – “Oscar is such a friendly and engaging four-year-old. He’s such an inspiration and of such good character” (said Lord Mayor of Belfast, Gavin Robinson). Others have commented on how “mature” his conversation skills are, how funny he is, and what a sweet nature he has. He has now 12,500 followers on Twitter – people feel like they know him as we post regular details of his progress (and his antics!), and we feel as though we have a huge army of supporters all helping us get through this awful nightmare. Some days I even think “Oscar has to get through this, there is no way anything bad can happen him with all these people aware of his story and right behind him”, but unfortunately there are no guarantees on this journey, we just have a lot of people sharing our highs and lows and it really really makes a difference. The positive energy we get from Twitter helps us to get through, and stay positive for Oscar. But we also like it when, if things are bad, there are people right beside us cursing this world and venting their frustration about what Oscar, and indeed our wee family, has to go through. So all in all, THANK YOU #TeamOscar, you are doing a great job!
So – we’re back to treatment now, radiotherapy started on Monday, and all is well so far. His liver is the target for this phase of treatment, as that’s where the stubborn neuroblastoma still remains. To think he has come this far – cancer from the top of his skull right through his whole body down to his right ankle – and now just 2 small areas still detected on his liver! 10 months of extremely tough treatment, and our little champ is still winning this battle. Radiotherapy is expected to make him feel a bit sick, and very tired, but that is is nothing compared to the hell he has endured already. We just want to keep him comfortable, rested, and well fed, and hopefully nothing too bad will come of this. Nutrition is a concern apparently, as he may go off his food due to the nausea, but today and yesterday he woke up after anaesthetic and asked for a fry!
His radiotherapy treatment sessions only last minutes, but it is vital he remains totally still so the beams hit the target precisely, and so he is having a general anaesthetic every morning to allow this. He’s enjoying all the fun of being in a different hospital, and the attention he gets from all his new nurses! He looks forward to seeing “the sleepy doctor” (anaesthetist). As his body is still tiny, movements caused by breathing, and the “route” the beam takes through his body to reach his liver mean that his lung, bowel, and right kidney are also getting exposure to the radiation. These are healthy areas of tissue which will now get damaged, there are numerous side effects both immediate and long term for that, including possible future cancers, but we were simply told we don’t have a choice. Everything that can be done needs to be done right now. The other effect of radiotherapy is that his skin (where the radiation hits) may become very red – like severe sunburn – so we have to put loads of cream on to try to prevent this. I often think, that in 20 years from now, we’ll look back at the best treatments we had available for cancer sufferers, and be disgusted by how crude they were and the damage they caused in the quest for a cure.
I’ve just realised I’ve been waffling on, and haven’t even got around to talking about what we’ve been up to! Oscar had a busy week last week, but it’s getting late and I know I won’t do it justice if I start trying to talk about it now. 6.30am starts for radiotherapy, research into complex treatment options for Oscar, pushing the Appeal forward as much as we can, running around after 2 (squabbling) toddlers, all the pressures of our situation, “normal” concerns like remembering to submit child tax credit forms on time, grocery shopping, laundry and cleaning – I could bore you to tears moaning about the stresses we are under but I’ll stop there! Both me and Stephen are physically, mentally and emotionally exhaused. 20 hour days have been taking their toll, but adrenaline is driving us on, and nothing is going to stop us on our mission to get Oscar well again. So I’ll shut up for now and try to get some sleep – everything else can wait until tomorrow!
Don’t it cheer you right up?
Was blissfully unaware of last night’s comedy gold result til this morning.
Fabulous!
Alasdair:
The link worked fine for me.
The Green (and Whyte) man’s utterings become more hunnish by the day. All bluster, entitlement and victimhood. He bought those titles you know, tremendous…
FPLG has hired Kate Middleton’s Solicitors to stop his T—s appearing in public…:)
Keep the Faith!
Hail Hail!
Oldco will certainly be turning in their grave this morning…:)
Keep the Faith!
Hail Hail!
In Turkey at the minute and just started reading back;
did the mighty sevco suffer a wee reversal last night
please say it is so
The finance from the C.L.was as much as I was hoping for this year.
In addition,I expect some valuable experience at the top table as part of a forward plan.
Anything else is a bonus.
Roll on the bonus.
Good Morning CQNrs,
Its a cool and bright sunny start to the day in north Glasgow. The sun is just about to rise and all is well.
Getting really excited about the game and we need to be at our level best. I am sure that Lenny is growing and maturing into the role of management for these European nights, he will get better too.
Good luck to my son who is tying the knot on Saturday and his soon to be wife. ( chose the date when Club 12 was a gamble !)
I am calm enough about the MSM publicising the great loss……as usual they get the wrong one publicised !!!
Hail Hail
Best of luck to everyone tonight-players,fans,and management.
MONTHEHOOOOOOOOOOOOOOOOOOOOOOOOOPS!!!!!!!!!!