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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Liam
You adorned the hoops with elegance and passion
You strode the park with precision and drive
You played your part in lifes big game
May our Lord now guard you , you bonny young man.
Rest in peace now Liam
Very sad news of the loss of Liam Miller,God bless him ,thoughts with his family and friends.
https://www.youtube.com/watch?v=U2S3y43NqCU
Liam Miller R.I.P
YNWA
Just heard the news about Liam Miller. Horrific and tragic. Enjoyed watching him in the Hoops for a short time.
His death emphasises the cruelty and randomness of the world. And reminds us all, it’s later than you think.
RIP Liam.
Eurochamps 67 and Topkat
Great news for you both and may your recovery go from strength to strength.
YNWA
Liam Miller Rest In Peace 36 is no age at all, may his family be comforted in this sad sad time..
Terribbly sad news about the passing of Liam Miller.
My thoughts are with his family and friends.
May he rest in peace.
The “Cash in bank”31 million.Will there be any more payments from UEFA in the next 6 months?.Was the VVD money included in these figures?.
Does anyone know?.
I would hope this money puts us into a position in which we could bid for Paddy on a permanent basis this summer.
RIP Liam Miller
Devasted that someone so young can succumb to cancer.
Sad news about Liam Miller. Those of us who were granted the privilege of seeing him were well aware of the great talent he possessed. It is wonderful to see former colleagues lining up to praise not only his football talent but his greatness as a human being. You will be sadly missed, Liam. RIP. Thoughts and prayers are with his young family at this time.
LIAM MILLER,R I P
AWATR – Stirling 8-11
LB – Bradford 8-11
TET -Shrewsbury 4-5
BMCUWP -Ipswich 5-6
Jobo -Brentford 1-1
GFTB -Fulham 10-11
Pog -Forest 13-10
Which is about 86-1 if my mental arithmetic is any good.
Devastating and terrible news on poor Liam Miller, there will be many heavy hearts around the world today but especially in Cork, God rest his soul.
Thanks Voguepunter, some great memories there.
I have always thought that Celtic’s best ever CL performance from a technical perspective (the Barca 2-1 result was bigger and better but the performance wasn’t) was against an excellent Lyon side when we beat them 2-0. Liam was fantastic that night and scored a great goal.
R. I. P. Liam
CONNAIRE 12
Re Liam Miller…
https://mobile.twitter.com/i/web/status/962169376391786496
Celtic, Celtic thats the team for me,
Celtic, Celtic on to victory,
They’re the finest team in Scotland, I’m sure you will agree,
We’ll never give up till we’ve won the cup and the Scottish football league
They come from bonnie Scotland, they come from county Cork,
They come from dear old Donegal and even from New York,
From every street in Glasgow they proudly make their way,
To a place called dear old paradise and this is what they say.
Celtic, Celtic thats the team for me,
Celtic, Celtic on to victory,
They’re the finest team in Scotland, I’m sure you will agree,
We’ll never give up till we’ve won the cup and the Scottish football league.
There’s Fallon, Young and Gemmell who proudly wear the green,
There’s Clark, McNeill and Kennedy the best there;s ever been,
Jim Johnstone, Murdoch, Chalmers, John Divers and John Hughes,
And sixty thousand Celtic fans who proudly shout the news.
Celtic, Celtic thats the team for me,
Celtic, Celtic on to victory,
They’re the finest team in Scotland, I’m sure you will agree,
We’ll never give up till we’ve won the cup and the Scottish football league.
Repeat to Fade CSC
On Iron Horse heading to Paradise.
Hail Hail.
God Bless
Horrible news about Liam Miller, RIP.
Sad morning here, once more we look to Celtic to pick up our spirits and go out & put on a show,
A few words from an Irish website about Liam, I was at the Lyon game will never forget how proud I felt when a fellow Cork man sent Celtic Park into raptures. Now 15 years later, he will send the same Stadium into silence. Rest in Peace Liam.
Former Celtic, Manchester United and Republic of Ireland midfielder Liam Miller, who died last night at the age of 36 after suffering from pancreatic cancer, fulfilled two boyhood dreams.
Miller grew up in Ovens, Co. Cork, and although he played Gaelic football, his real passion was soccer, with a fondness for Celtic taken from his father Billy, a Scotsman from Motherwell.
He joined the Parkhead club at the age of 15 and, on May 21 2000, in Kenny Dalglish’s last game as Hoops manager, he made his debut as a second-half substitute in a 2-0 home win over Dundee United.
A loan spell at Aarhus in Denmark followed and the talented playmaker with good pace and mobility did not break into the Celtic first team properly until 2003-04 under Martin O’Neill and he picked up a Scottish Premier League medal that season.
Sad news about Liam Miller – taken far too young.
RIP Liam
RIP Liam Miller taken far too young. God Bles you young man and you’re family.
CORKCELT
We had a marvellous player in Liam. I’ll remember him for that.
Rest in peace Liam.
Prayers said for those who remain.
Rest in Peace, Liam Miller.
Puts into perspective how lucky we are.
Eurochamps67
TOPKAT
Best wishes to you too!
Good to see you posting again.
RIP Liam
Moved on from Celtic too soon , moved on from this life too soon.
LIVE UPDATES UP
RIP Liam, so young so sad.
Liam Miller RIP.
With regard to PL’s interview with Tom English one of the things that bothered Res12 guys was Celtic’s reluctance to approach UEFA as the Res requested and instead with deal with the issue domestically.
One possible answer has emerged from the documentation Celtic released last September which contains a letter of 25 May 2012, a letter Res12 guys don’t recall seeing although it tells us Celtic were active in trying to protect the integrity of the game.
Note Well:
It’s not a defense of Celtic. It is an observation based on realising who was involved and if your core belief is its all part of a pretendy put up job then dont go to the link for it will change nothing.
On the other hand if you are prepared to be a bit more informed and put aside suspicions (that the Res12 guys themselves had because of reluctance to approach UEFA) then have a look at
https://www.sfm.scot/is-regan-a-diddy/?cid=167457
GERRYFAETHEBRIG on 11TH FEBRUARY 2018 7:54 PM
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True enough GFTB.
HH.