State of the Club Report, December 2024

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My friends in Celtic, the third domestic trophy returned to the boardroom earlier this month.  We sit 14 points clear at the top of the league table, and with 20 games remaining, you can get 20/1 on Newco for the title and 750/1 on Aberdeen.  Yet again, Celtic are not so much a sporting favourite, than an investment asset (this is not gambling advice!).

We have nine points after six games in the Champions League and could confirm qualification for the knockout round next month.  The club reported record turnover for last season of £124.6m, with £77m in the bank.

Good performances in Europe contributed significantly to this calendar year seeing only two defeats in all competitions: a random 10-man loss at Hearts and an absolute drubbing at Dortmund.  2024 is the year that delivered more major trophies than defeats.  This has never happened before and surely will never happen again.

The summer transfer window saw £31.2m spent on in-coming players, with a new high watermark of £11m splurged on Arne Engels.  How easily we moved on from the loss of Jota and Matt O’Riley.

A new transfer window opens tomorrow, so before the madness gets underway again, recall the angry and entitled writers who despaired all summer at Celtic’s transfer activity.  Their form is as consistent as Cameron Carter-Vickers, so you will hear from them again soon.  Transfer business is skewed to the end of the window and is more complicated than many would have you believe.

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2025 opens at Ibrox, where it is seldom easy.  However, a Celtic defeat would not convince any of the 50,000 attendees that their ‘heroes’ are capable of catching the champions.

In February we had slipped behind Newco and were playing poorly.  I was concerned the title would be lost, Newco would earn a Champions League lifeline and Celtic would plunge into disarray.

As it turned out, the Premiership, Scottish Cup and League Cup were all decided in pivotal games against Newco: 3-3 draw at Ibrox, the 1-0 Scottish Cup Final win and the penalty decider in the League Cup Final.  All of these games could have gone the other way, and for a period, looked as though they would.

It is to Brendan Rodgers eternal credit that he knows how to win tight games.  Marginal differences in the game at Ibrox were enough to change Scottish football history – and not just for last season.  With £77m in the bank, Celtic would have coped with a second place finish, albeit, there would have been a trauma.  Newco, however, were devastated by the consequences of only taking a point that day.  They celebrated the passing of their last chance.

We are in the fortunate position to have a manager, players and entire club who collectively have the corporate experience to get the job done.  As long as Celtic perform as they have been recently, we will dominate in Scotland and give a reasonable account of ourselves in Europe.

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Some of us lived through the 90s, when Rangers were out of sight and Celtic were under-resourced.  Always.  We won the league in 1998, due to a random series of events, including signing a winger from Feyenoord, but that was a one-off.  The next two seasons were a return to more of the same.

The rebirth of Celtic under Martin O’Neill had a compelling side story: the corporate disaster zone that was Rangers under the bombast of David Murray and his non-execs.  They lost £35m in one season; Martin found himself battling against a dying empire.

Rangers acted as though their domination was guaranteed.  Even our 1998 triumph was handled interestingly by Murray, saying “9 out of 10, not good enough”.  The seeds of their downfall were writ large over their accounts and those of Murray International Holdings, for anyone who cared to read them.

Their domination was so overwhelming, it was almost impossible to get anyone to listen to reality back then.  So let’s be clear:

Domination is good.
Generation(s) of Domination is great.
Ignore the fundamentals of business and you sow the seeds of downfall.

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Celtic are successful domestically because we recruit well, we develop players well and we have elite level managers, coaches and sports scientists.  There is, however, a gap between where we are and where we could be.

Brugge spent around half of what we spent on Arne on their most expensive summer signing and spent less overall than Celtic (in absolute and net terms).  They have not and never will spend £9m on a player from the Norwich City bench.

Champions League qualification is coming your way quickly and we will be up against teams who work the way we did to find and develop Kuhn, Bernardo, Johnstone, Jota and our Japanese contingent.  Celtic excelled in that space for over two years.

Looking back on Ange Postecoglou’s time, recruitment now appears to be his strong suit (he has no such controls at Spurs).  Brendan is more of a master tactician.  If we continue to scout players Brendan has watched or worked with, we will decline.

The players we sell for a profit in 2027 and 2028 should be signing targets in 2025.  They need to have development potential and eventually leave a price several times higher.  If we get this wrong, it is the chink in the armour our opponents need to become relevant again.

Our operating expenses for the year to 30 June, which excludes transfer fees, were £105m.  That’s the cost of doing business at Celtic currently.  You don’t need me to tell you what happens to our profitability if we fail to reach the Champions League.

We are not Oldco Rangers; the financial reserves are there to prevent a cataclysmic retrenchment in the event we run at a loss, but keeping the club profitable, improving the player trading model (good though it is, it still has a long way to go) and maintaining salary levels consistent with our income spectrum will determine if you ever get to celebrate 10-in-a-row.

No harm to Real Madrid, who have normalised winning the Champions League, but Celtic fans have the best role in football.  Despite being pushed all the way, we get to win so many trophies, achieve our own level of joys in Europe, with remarkably few god days.

This was not always the case and it took God-level strategic planning to achieve.  It cannot last forever, but a quarter of the way through this century there is no sign of a sunset.  The 2024 title win was genuinely pivotal.  Congratulations to everyone at the club who played a role in delivering yet again, often in the face of absurd hostility.

Have a great New Year, Paul.

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317 Comments

  1. HORSE RACING WINNERS…

     

    Scroll by if NOT interested ?

     

     

    On Monday 30th December 2024, I had arranged to meet up with my Two Brothers and their wives for a wee Bevvy. One Brother is ” John Paul” who lives and works in London for the last 35 years or so. I hadnt seen John Paul for around 20 years, until our DA’s Funeral in March 2024. I didnt get much time to speak to him for very long at the Funeral, but on Monday we had a wee Bevvy and Chat session for just over 5 hours or so in the SHIPBANK PUB.

     

     

    Before I left the House to meet up with them on Monday, I had placed Bets on EIGHT Horses in Two ” LUCKY 15″ Bets.

     

    When I got home after the meet up, I discovered that I had THREE Winners on each Bookies Line at good Prices, It would have been better to have FOUR Winners up on ONE Line…but Three outta Four aint bad on the Two Lines.

     

     

    I spent New Years Eve and New Years Day on my my own at home, to recover from the Bevvy session on Monday, and I backed a Total of 14 Horses on various Bookie Lines ( LUCKY 15s and LUCKY 63 etc ) and I had NINE WINNERS, with only One Winner being ” Odds On”.

     

     

    Yesterday at CHELTENHAM I had a Total of FIVE Winners outta Seven Races, at good Prices including ” CHANTRY HOUSE ” at 8/1, and others at 9/2,7/2 3/1 and 2/1 ( I think ?) along with others at various odds including a 5/1 Winner at other meetings.

     

     

    Despite the NINE Winners yesterday, I STILL managed to FAIL to get FOUR Winners on any One Line….but I was grateful for the Winners that I did get.

     

     

    I had also placed a wee Fitba Bet on BRENTFORD V ARSENAL last evening. I had the Correct Score of 3 – 1 for Arsenal at odds of 11/1. This Correct Score being the first in a LUCKY 15 Bet…the other THREE Fitba selections are due to be played TODAY ( 2nd JAN 2025).

     

     

    Overall this week has been fairly successful and profitable….SO FAR !

     

    Hopefully my good luck will continue Today….Especially with my Fitba Bets ?

     

     

    LOL.

     

     

    HH.

  2. OOPS..I forgot to mention that among the Five Winners at Cheltenham yesterday I also managed to back the FORECAST in the 2.40 Race.

     

    The Forecast paid £32.52 for my £1 Stake. I had placed the Bet earlier in the morning so I had Bigger Odds than the Final Return Odds.

     

     

    LOL

     

    HH.

  3. OOPS….Two selections in my Fitba Bet are Two EPL Games that are not played until Saturday 4th JAN.

     

     

    Hopefully The CELTS can make my New Year even better by winning at Ipox Today ?

     

     

    HH.

  4. Laxalt on 1st January 2025 8:35 pm

     

    Guys, mental quirky stat for ye

     

     

     

     

     

     

    Maeda has scored Celtic’s 1st goal in the last 3 calendar years..

     

     

     

     

     

     

    2022 v Hibs 4 mins

     

     

     

     

    2023 v Sevco 5 mins

     

     

     

     

    2024 v St Mirren 1st min

     

     

     

     

    2025 v Sevco 😎

     

    ……………

     

     

    Funnily enough I Placed TWO Bets on DIAZEN to score at least TWO Goals v Huns Today at Odds of 18/1 with BET365.

     

    I also Placed a small wager on DIAZEN to score at least THREE Goals v the Huns Today at Odds of …100/1 with Bet365.

     

    BEFORE I saw your Post with the Diazens ” Stats”.

     

     

    Just saying like…LOL

     

     

    HH.

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  6. Gooooood mqtchday morning from a current 16 degree Tenerife, to be a bit overcast today here but we will all be in Gaelic Corner to watch game from midday onwards.

     

    Hopefully -17 in Govan later.

     

     

    COYBIG

     

     

    To all enjoy watching the game wherever you are on God’s green earth.

     

    Hail Hail

     

     

    Ps no scire prediction from me just go to work on these cnuts Celtic and get a win, any win.

     

     

    D. :)

  7. Prestonpans bhoys on

    Good morning from a very cold Trossachs, surprisingly only -4° . The car is a ice cube❄️❄️, 3:0 today ⚽️⚽️⚽️

  8. Big Jimmy,

     

    Some man.Me and my mates in Glasgow,2 in America have a wee betting syndicate going.12 teams to win.12 teams,both to score,or 2.5 goals.This is now week 20,and not a win.

     

    A few times one has beaten us,but fekin hard going with some of the results that get thrown up.

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  10. Turkish Health system

     

    Went to my local Doctors on Tuesday,walk in,taken right away,to get my Blood done,including Prostate test.Results sent to my phone next day.Prostate fine,but high Cholesterol,high Uric Acid,high ,Iron.Advised to see Hospital.Phoned yesterday,appointment for this morning,at 10.Taken bang on,prescription for one ailment,appointment made for ultrasound on Monday,and all bloodwork done again.

     

    .So back on Monday for Ultrasound and results,and prescriptions.All in 6 days.

     

    Fantastic service.One thing they do great.

  11. Glorious day here in the kingdom.

     

     

    A hike up the snow covered hill and a week walk on Aberdour beach pre game.

     

     

    Scotland is Braw.

  12. Morning all.

     

     

    I know we can afford to get beat today but the very idea sickens me. So, nerves already set in.

     

     

    Let’s hope we are allowed to hammer them fairly and squarely and our players and staff get out of Govan safe and well.

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  14. TURKEYBHOY on 2ND JANUARY 2025 9:27 AM

     

     

    How long is the waiting list for a bum lift? (asking for a friend)

  15. Will the Glesga Polis ALLOW the Hun Hordes to go on the rampage before the game Today, just like ALL the other occasions ?

     

     

    If Celtic Bhoys and Ghirls are going to the Pubs this morning/afternoon please take care as there will many Hun Animals out and about, thats for sure.

     

     

    I also hope that the Celtic players and staff are safe at the Ipox Hovel during the game.

     

     

    HH.

  16. Looking at our fixtures for the whole of January was a wee bit surprised to see us playing nine games in total. Whatever happened to the the mid – winter break? Six in the SPL, 1 Scottish Cup and two in the CL. Five at home to be fair, but five midweek games too starting today. Ok today does feel like mid-week.

     

    That is a tough challenge by any standards. Fitness wise we are looking quite good, but if we are going to strengthen then it is surely better to do so early doors and not on the 29th January the day we play Aston Villa.

     

    Not easy to improve our best team I know, and no development player will do that, so lets see if our manager has a player or two in mind.

  17. Kelly

     

    Ridvan

     

    Propper

     

    Sterling

     

    Jefte

     

    Raskin

     

    Diomande

     

    Hagi

     

    Cerny

     

    Igamane

     

    Bajrami

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  20. !!Bada Bing!! on 2nd January 2025 11:19 am

     

    Scales to score anytime might be worth a bet,given the lack of height there

     

    ……………

     

    LIAM SCALES is 11/1 to score at anytime with BET365.

     

     

    HH.

  21. Majestic Hartson on

    TB – do you pay the healthcare? Sounds brilliant.

     

     

    Any win will do today today bhoys, but preferably its 7-0 👍🏻

  22. bournesouprecipe on

    They’ll kick Celtic players won’t they?

     

     

    SKY especially, and some of SMSM have managed to advertise this fixture for days without mentioning the 14 point elephant in the blue room. The Rainjurz are still coming, full steam ahead, poor wee Celtic.

     

     

    BR should go ,

     

     

    Schmeichel

     

     

    Johnston CCV Scales Taylor

     

     

    Engels Calmac Hatate

     

     

    Kuhn Kyogo Maeda

     

     

    Paulo Bernardo could start ahead of Engels, but it’s the squad depth that counts nowadays especially in the world’s moist poisoned atmosphere. Expect Kuhn to be the double banked, one kicking and one waiting.

     

     

    It’s time for virtuoso Celtic.

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  24. Interesting – yesterday Clement was saying Hagi hadn’t recovered from illness and wouldn’t play.

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  26. The returnof weeron on

    Good morning everybody.

     

     

    Sun is up in balmy -9C here in Ottawa.

     

     

    Stay safe, and have a great day.

     

     

    Weeron

  27. TURKEYBHOY on 2ND JANUARY 2025 9:27 AM

     

    Turkish Health system

     

     

    I’ve had a sore back and hip since late October

     

    Had a doctors telephone appointment 3 weeks ago

     

    Decided over the phone physio is required

     

    Booked for January 10th

     

    I took the booking knowing physio isn’t going to help and when that’s realised I might actually get to SEE a doctor…wish me luck..

  28. Almore

     

    St Stivs

     

     

    Thanks for the replies, the podcasts which i watched over the holiday focused on the tourist areasof the Canaries and not the small towns and villages. I’ve enjoyed many holidays on the islands but judging by those podcasts i prefer Christmas time at home. HH