To properly analyse Celtic’s interim account for the six months to 31 December 2017, which were published yesterday, we need to take into account the same period for the last two seasons.
Revenue for the period was a staggering £71.5m, up £10m on the previous season (which also saw Champions League group stage qualification), but more notably, a remarkable £40m from the £31.4m recorded during the last Ronny Deila season.
Clearly not all of that £40 is directly attributable to Champions League qualification, but one division of a football club drives revenue to another. For example, merchandising revenue for the period to 31 December 2015 was £7.5m, this increased to £10.7m this season. On-field success drives footfall, which drives revenue across the business.
The attributable effect of the Champions League is contained within Multimedia and Commercial income, which to Dec 17 period was £34.0m, up marginally from £29.9m the previous season, but unrecognisable from the £9.1m to Dec 15.
Also within Multimedia and Commercial are the contracts with Dafabet, Magners, New Balance, Eden Mill and Intelligent Car Leasing. It beggars belief that some of the current deals were achieved in the months before Ronny departed. The multi-year Dafabet deal is comparable to a single-year Champions League qualification.
Although Champions League football remains of the utmost importance, these commercial partnerships fortified the club’s ability to speculate as they have since 2016. Don’t underestimate their importance.
I’ll come to how spectacularly successful a period this was in a moment, but the one area Peter Lawwell will be anxious about is the cost of football and stadium operations – which are primarily wages. Costs for the period to Dec 17 were £40.7m, up from £33.7 the previous season and £24.2m under Ronny.
In the space of two years we have come close to doubling our football costs. The revenue is there to support this growth, and the overall strength of the finances can withstand a season without Champions League football, but you and I know what happens to clubs who budget assuming they will always hit the Champions League jackpot (they sell to a spiv for £1 and liquidate).
It will also occur to you that it doesn’t feel like you are watching a more expensive football team this season than last. Put another way, we got better value for money last season than this. The primary reason for this is wage inflation in England, which forces a corresponding increase when contracts are being renewed elsewhere.
Most of the Celtic first team could earn more money in England. They stay at Celtic because they want to be here, but also because the differential is palatable. For some, the money available elsewhere will be irresistible (which doesn’t make them bad people, btw).
For a club who again retained all of their top personnel, this is an incredible set of accounts. I expect more player trading in the summer, as Brendan will try to build upon the team which has largely carried him through two season. Congratulations to the supporters, Peter Lawwell and his team, and to Brendan, his staff and players. As a club, we are probably more united than at any point post-Larsson – a period which had its own fragility.
I know Celtic continually risk-assess the future, but the level of professionalism throughout the club gives me confidence in the future. If I can attempt an understatement, things are going to be OK*.
*this does not indicate complacency about Partick Thistle tomorrow.
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From Cork School boys twitter
https://twitter.com/Gav300879/status/962103794912940033
Seven Feet an’ Risin’
https://www.youtube.com/watch?v=-1QDMFnLW2A
Sad sad news
PARK ROAD 67-belated thanks mate
I fully endorse Arsene Wenger’s call to stamp out diving.
Perhaps he’d like to review his assessment of this particular example:
http://www.dailymotion.com/video/xac6s6
Liam lived our dream of wearing the Hoops, really sad news
Liam Miller, 4 days short of his 37th Birthday, so young. God be good to you Liam.
http://www.youtube.com/watch?v=U2S3y43NqCU
rip liam far to young.
RIP Liam
HH
Hail Hail Liam. Thanks for the memories. To walk out wearing the hoops is our dream.HH
https://m.youtube.com/watch?v=SDrPghDvYA4
Contrite Liam. Whodathunkit?
Celtic Squad v Patrick Thistle
14 Games 10 Shut Outs Craig Gordon
13 Games 00 Goals Scott Brown
12 Games 07 Goals Leigh Griffiths
12 Games 03 Goals Callum McGregor
12 Games 00 Goals Nir Bitton
11 Games 00 Goals Mikael Lustig
09 Games 04 Goals Stuart Armstrong
07 Games 00 Goals James Forrest
06 Games 03 Goals Scott Sinclair
06 Games 02 Goals Tom Rogic
05 Games 01 Goals Kieran Tierney
05 Games 00 Goals Jozo Simunovic
04 Games 02 Goals Patrick Roberts
04 Games 00 Goals Dedryck Boyata
04 Games 00 Goals Cristian Gamboa
04 Games 00 Goals Erik Sviatchenko
02 Games 01 Goals Olivier Ntcham
02 Games 00 Goals Kristoffer Ajer
02 Games 00 Goals Moussa Dembele
02 Games 00 Goals Odsonne Edouard
02 Games 00 Goals Jonny Hayes
01 Games 00 Goals Jack Aitchison
01 Games 00 Goals Ryan Christie
01 Games 00 Goals Nadir Ciftci
01 Games 00 Goals Kouassi Eboue
01 Games 00 Goals Michael Johnston .
Sat 12th March 1988
Scottish Cup
Quarter Final
Patrick Thistle 0
Celtic 3
Andy Walker 07 min
Tommy Burns 55 min
Billy Stark 60 min
Patrick Thistle
A.McLean
Alan Dinnie
J. Mitchell
Purdie
Billy McGhie
John McCormack
Pat Kelly(Willie McGuire 77 min)
McNaught
Eddie Gallagher-sent off
R.Law
Billy Dodds(John Workman 67 min)
Celtic
Pat Bonner
Chris Morris
Anton Rogan
Roy Aitken
Derek Whyte
Tommy Burns
Billy Stark
Paul McStay
Frank McAvennie
Andy Walker
Joe Miller
Subs not used
Tony Shepherd ,Owen Archdeacon .
att-16,800
ref-G.B.Smith
at-Firhill Park .
FRANKMARKEgl
Gies peace ffs.
So the manxhild #leytonbhoy blocks me as I call him out .. cannot even speak English bar abuse. Using the words ‘f##ing and sh##t in a celtic newsnow constant in his today ‘blog’ Scum as any.
All over Liam Miller. Post it you ADHD ass.
Although Murty clearly says
“the first trophy”,
on folly folly their transcript of the interview changes it to
“the next trophy”
No comments mention this error in the transcript….
pretendybears
Is it time for kick-off yet???
‘Mon the Hoooooooops!!!!!!!!!!!
Rip Liam…….
Sad news about Liam may he rest in peace.
Liam Miller RIP
TopKat & EuroChamps: best wishes on your continuing recovery.
Off to Malaga for the week. Will be in Timmy’s in Torreblanca later for today’s match.
RIP LIAM MILLER
Shocking news about Liam Miller. A tragedy for someone so young. Thoughts and prayers for his family and friends.
Just logged on to post my horse on fleagles comp and had s quick read back, sad sad stuff about Liam Miller was hoping when there had been no news things were getting better, gone far too soon
just reading back, such sad news rip liam.
I have every confidence that Eurochamps is ready for the next leg of his battle to fully recover and he has the full support of a lot of people who know him, both well and barely, in doing so.
Never forget that night against Anderlecht at Celtic Park Liam, RIP HH
May I add my condolences to the family and friends of Liam Miller, a genuine unassuming football talent who shone briefly with our club and all too briefly in the real business of life.
Thoughts and prayers with Liam Miller, his family and friends at this sad time.
Eurochamps 67 – Your spirit is inspirational, may your recovery progress well.
Topkat – May your recovery continue in a positive way.
HH
RIP LIAM MILLER
Eternal rest, grant unto Liam O Lord
and let perpetual light shine upon him.
May he rest in peace. Amen.
Dorus…
Ajer *Simo *Wee KT
Jamesy–Kouassi- Broonie– Charly
Ollie
Eddie n the Moussa.
**Only if Hendry is cup tied **
Release the 3 Musketeers Brendan you know it makes sense…
Thats my team prediction till Mrs Musonda tells me different:-)
Sad news about Liam Miller.
Prayers will be said for him and his family.
HH
Why do we let trivia get us down?
So often bogged down by unimportant stuff.
I watched Liam come through the ranks and thought we had a great player on our hands.
I remember being so disappointed when he left .
RIP Liam son, taken far too early
RIP Liam – gone too soon
Thoughts with the family and friends of Liam Miller.
Eurochamps and Topkat
Keep on keeping on
Good morning Bhoys. On route at the moment from Glasgow airport to the city centre. Flight over from Ireland was quite subdued and the mood was sombre following the passing of Liam Miller. He’s gone way before his team and it’s good to see Celtic are doing a tribute for him today. Ar dheis lamh Dé go raigh sé.
HH