My friends in Celtic, on Sunday we will gather to watch the league flag fly high above Celtic Park, the Scottish Cup is on display in the boardroom and in six weeks we will be among the first fans to watch the new Champions League format get underway.
Financially, things have literally never been better. A year ago, our net cash position was £72m, aided by the ridiculously inflated price achieved for Jota (love him lots but never a £25m player). Since then, we have banked Champions League money and the bounty from the best commercial deals in the land. We have known worse.
Despite the welcome permanent signing of Paulo Bernardo yesterday, at this stage of the transfer window, we are weaker than we were at the end of the season. There is a substitute striker shaped hole in the squad, which Adam Idah is doing his best to fill. For the (very) hard of thinking, let’s remind ourselves:
You can sign any old rubbish early in the window (with a few exceptions), but clubs who own players in demand do not sell until late August. If you are in doubt, think of Matt O’Riley, who is clearly wanted by clubs in England and Italy, but there is no amount of money Celtic would be prepared to accept until late in the window AND they have backfill. This is how transfer windows work, the whole world knows it, so let’s not pretend we are new to the game.
One year ago, Celtic were hot favourites to win the league. They had just successfully retained their title, had money in the bank with no Champions League qualification worries. After three years which saw a league title, a Europa League final and Champions League participation, our only challengers, Newco, were back in crisis mode.
Michael Beale was sacked in October as their season fell apart. What should have been a procession to Celtic’s third successive title, turned into a mishandled campaign. Our disintegration on the park was so evident, by February I was convinced we would lose the league (don’t think I mentioned that here at the time).
History is the tale of fine margins. Philippe Clement steadied Newco and overturned Celtic’s lead in the table, but the steam escaped from his engine on a field in Dingwall in April. It was a stupid result the like of which Celtic endured earlier in the campaign, but Clement’s ability to push his squad had expired. For Celtic, this was an enormous break.
That campaign is a lesson for anyone who believes we are a shoo-in for four-in-a-row. A few injuries (you can bet we will get them) and a failure to successfully develop supporting players (you can bet……), and we could be plunged into trouble again.
It is popular to poke fun at Clement, but he is a far better manager than Beale, Gerrard or McCoist (who was hopeless). If he stays in Glasgow, he will build his own team and put proper pressure on Brendan, even with a budget which is likely to be significantly below ours.
Our budget and development strategy was easy to ascertain for a long time; not so much now. That £72m net cash position we reported a year ago is likely to be dwarfed when the figures for the year to June 2024 are released; I expect at least £10m on top of that.
When our old pal Peter Lawwell was in charge, he lived to the motto, “Every penny that comes in will be spent over any business cycle you care to mention” – and they still complained! Peter lived at the sharp end of football and once told me, “When people give you money, there is an expectation you will spend it.”
Let’s be clear, having lots of money in the bank is a great thing for a football club; if the tables were turned, you and I would be distraught at the comparison across the city. But that expectation Peter Lawwell talked about remains. Celtic are a football club who have a duty to invest appropriately in football stock.
How we invest is also important. The model which found and developed Matt O’Riley and which works for so many aspiring clubs in Europe, is without question the way forward. Alternative models, where clubs buy players at their peak, earning big wages and without scope to appreciate in value, is full of short-term gain but has zero strategic benefit.
We should also acknowledge a harsh fact. Great managers, though Ange Postecoglou and Brendan Rogers were for us, the last Celtic boss who achieved anything in Europe was Neil Lennon. Celtic are in the Champions League again this season because our coefficient monkeys across the city did very well in Europe for three successive seasons.
I expect we are now at the end of that cycle and Scotland’s coefficient will drop for a period. This will make Champions League income less likely, irrespective of what money we spend or signing strategy we follow.
Our board can expect a peak cash position next summer. Their challenge is to take what is unquestionably an embarrassment of riches, and develop the team and facilities in a manner which grows the top line.
If you think that’s easy, I suggest there is a peak on the Dunning Kruger chart for you. Players competitively valued in the £10m bracket (i.e. by others in the market, not just by Norwich City), tend to have lots of options, usually a few better than the Scottish Premiership. They also have pay offers which would blow apart Celtic’s wage structure. Having all that cash guarantees you nothing.
There are other calls on our resources. Celtic Park is a 20th century stadium and we are already a quarter of the way through the 21st century. Football fans tolerance has changed over the generations. Consumer expectations in the middle of this century will be miles ahead of what we currently call home.
I would like to see a 20-year plan to redevelop Celtic Park. Turnstiles should be at the edge of the footprint, not at the stadium. Fans arrive at the ground early as it is, even without anything to do, but we should get them through the gates and into restaurants, cafes, shops and bars. Not just merchandise shops either.
The South and North stands are poor. Hundreds of office staff work in the South Stand, all office business should be relocated to Barrowfield or another area of the footprint. We are a football club which is short of premium seating area. There is a huge space which can be used for premium seating area right beside where the fans sit. Make it happen, or at the very least, tell us why such a move does not offer a return on investment.
I am more familiar with the North Stand. The top deck has fewer facilities than anywhere else in the stadium. It is also the highest part of the ground and on a warm day like Sunday, the wind will cut you in two. The premium seating area is too small to walk around, never mind properly dispense food.
This stand overhangs the Eastern Necropolis and Janefield St. Before Celtic Park was redeveloped in 1994, Janefield St was a mixed residential and commercial road. Celtic were required to keep it open for traffic. Now Celtic Park is the only property on the street and the road is a local rat-run outside of match days. The whole area should be redeveloped.
I have no idea what it is possible to do in or over the cemetery, but if there is nothing more can be done, we have to acknowledge that the North Stand Upper is under-provided for and price it accordingly. We need more premium seats (South Stand) but we will always need cheap seats. Celtic have to cater for those who cannot afford expensive days out.
If we struggle to attract players to Scotland, I am sure the support would get behind a plan to upgrade our facilities and prepare Celtic Park for the next generation. The next two years could be our last opportunity to consider this action for a very long time.
Right now, I give Celtic a 70% chance of winning the league this season (3% higher than a year ago). There is work to do, even if Matt O’Riley stays, I am not convinced with midfield, defence or attack options. Clement has his hands full but expect him to make the most of what is available to him.
There is no reason to expect anything substantial from the Champions League; the successful Gordon Strachan era is now a distant memory. What we do have, is abundant options, hard earned over decades.
Celtic Quick News started 20-years ago last week. A few months in, when we were losing on the park and letting the league slip away, I noted we were in the early years of a Generation of Domination. It was totally obvious. One large club in Scotland had a plan to pay its bills, the other was playing casino football and would inevitably crash and burn.
20 years on and nothing has changed. Celtic continue to act strategically, Newco act without a thought for tomorrow, despite John Bennett’s words. Until Newco tell their fans they need to spend less on wages and transfers, and live with coming second to Celtic for a period of years in the hope of an improvement in the medium term, nothing will change. We will lose the odd league and cup, but goodness, this Generation thing is outlasting anything we dared dream of.
Celtic is a great gift to us, enjoy every minute of the season, win, lose or draw.
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It has landed! Happy Friday and a Jobo sleep or two away from flag day with Jim Craig.
Have a good one all. I got a new F5 key.
https://c7.alamy.com/comp/2AW2BGY/press-conference-amsterdam-709-tournament-the-leaders-schoenaker-ajax-wijnstekers-feyenoord-olivera-and-sefanescu-date-august-23-1984-location-amsterdam-noord-holland-keywords-press-conferences-sports-football-institution-name-feyenoord-2AW2BGY.jpg
Feyenoord Tournament
Celtic struck gold in the summer of 1981 on their first visit to the four team Rotterdam tournament by eliminating the hosts 2-1 thanks to goals from Dom Sullivan and Frank McGarvey. Dukla Prague had dispatched Anderlecht in the other semi-final and faced the Bhoys in the final on Sunday August 2nd.
The Celtic team that claimed the trophy was: Bonner, McGrain, McAdam, Aitken, Garner, MacLeod, Provan, Sullivan, McGarvey (McCluskey), Burns, Nicholas.
It’s Day 49 in the Big Celtic Transfer House and anxiety levels are reaching enuresis and encopresis levels.
Exchanging 2 goalies from last year for two goalies who left has not provided enough new bling or toys yet. Paolo Bernardo returning as our employee is just the same old same old.
We know that there are future signings and loans coming before the window shuts so we only have a window of a week or two to surpass our personal best in complaining about how embarrassing and disgraceful Celtic are. Even then , we can just enter the new competition of complaining that we have signed players too late, forgetting that we predicted there’d be no signings at all.
And, if Celtic win their opening league matches, we can still nurse our wrath and wait to complain when a Tier One team beats us in the CL.
Then, we can, finally, claim vindication and. state as a fact that we predicted this, and, what’s more, we also said that it’s because:-
a) we signed nobody
or b) Because our signings came in too late.
that these entirely avoidable defeats by Barca, Real Madrid and Man City occurred. If yiz had listened to us we’d have a guaranteed, no-brainer passage out of the Group Stages and back to the mid 20th Century Period of Celtic being European Contenders.
Good afternoon all from the Brazen Head.
Have Liverpool signed anyone yet?
big phil , the rangers are coming, just as soon as the stadium is finished,
Good article Paul
I believe the Main stand has the greatest scope for Development. It is the oldest part of stadium and the most outdated. There is plenty room to London Road and access is not an issue.
Paul67: Good to see you talking about the lack of facilities at the stadium on match days. Having the turnstiles further away from the stadium is a very good suggestion, imho.
Would still love to see a fans’ café beside the Superstore for non match days.
Nothing much to disagree with there Paul, but the “…spend over the cycle” thing is no longer true. We are hoarding cash and have been for a number of years. We’ve even had the conversation around… “If they don’t know what to do with it, get people in who do”.
Cash in the bank is meaningless absent a plan, as you imply in your leader.
I’d also note that a blended approach to player acquisition is more profitable short and long term than the ceiling imposed by an approach predicated upon young talent alone.
I would like to see a 20-year plan to redevelop Celtic Park. Turnstiles should be at the edge of the footprint, not at the stadium. Fans arrive at the ground early as it is, even without anything to do, but we should get them through the gates and into restaurants, cafes, shops and bars. Not just merchandise shops either.
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Spot on.
TB- yes,I changed my mind after reading Willie Miller’s assessment of him,he knows him well, and I respect his opinions on football. Brendan tried to get him last time round, and I’m surprised he’s not got him in by now.
Very unpopular but entirely accurate in my opinion, much like most of CQN’s output over the last 20 years. And consistent with what you’ve told us for ever.
Good luck to everyone for the season.
The stronger or weaker squad argument could be debated all day long, and is probably best left to 1st September. But three strikers down, from last season, leaves us a Kyogo shoulder pop away from an emergency, with tough trips to Easter Rd and St.Mirren on the near horizon, not to mention last years ‘bogie’ team Parkhead bound, on Sunday.
Paulo Bernardo is better permanent than temporary for sure, though he’s unlikely to start in a Brendan Rodger’s ‘three’ which for the time being at least, will remain O’Riley, CalMac, Hatate. The side will have a very familiar look to it, and maybe only Tony Ralston in place of a game too soon for returning hero Alistair Johnston, with CCV, Liam Scales and Greg Taylor. Nicolas Kuhn had a great tour, where all of the squad looked as fit as butcher’s dog, Reo Hatate showed flashes of form that made his Celtic name in his first season, and Daizen Maeda might back up his countryman by coming inside, looking for goals if required.
Veteran Kaspar Schmeichel already looks a class above, and could prove a shrewd move ahead of the recruitment team, whose players are backing up, in the exit corridor. A cunning stunt to work a double, keep the ‘buffer intact’ sell all the ST’s then star players and say ‘we were too late ‘ to get anybody over the line?
The least the ordinary supporter can expect is the manager to be backed, he might then stay till he gets ‘emptied’ The Celtic bank balance rises apace with raised supporter’s expectations of his favourite hobbies, his direct debits, and what they cost.
Intensity CSC
There’ your protest slogan.
Empty the Coffers or Brendan gets emptied!
It’s an interesting read but considering how poor the weather is in Glasgow, I’m not sure the potential for turning CP into the equivalent of a mall. Even within the confines of the stadium pre match, it can be damp and miserable on a wet day.
The point about the transfer window is valid and once again makes me question why it is so long. Who does that benefit?
I’m pleased to read you don’t feel we are prepared for the season ahead. At least you accept that. Last season was poor in so many ways but ended triumphantly. We all know what positions we need to develop but we are one or two injuries away from having Maeda up front again. Very concerning.
What I read from your article is that the standard of footballer will continue to drop at CP so surely we need to be looking for a way out.
I’m confident of winning the league because rangers have so much change and only partly because of us. The champions league is a frightening prospect.
Let’s hope we can get through August with maximum points and actually strengthen for once instead of replacing like for like.
If we need a new south stand, get major investors involved, DD could bankroll this himself without blinking but what would be in it for him? Would adidas be interested in naming rights, Celtic has a profile it has just beaten 2 major English PL clubs, our cash pile must be used for the development of the first team and the development of first team players of a European standard going forward, we don’t do this at the moment, if the thinking is to tinker with what needs done to the stadium with money in the bank then I’m sure the bank balance will reduce and quickly, We’re told we have smart minds in the board room lets see it solve the stadium issues but at the same time have the best first team possible.
So.
I think a plan. An announcement. Is imminent.
The office functions move to barrow field in a scheduled timeframe.
The south stand office block becomes match day hospitality.
The upper south stand becomes all premium paying fat cats with a reduced capacity but more spending power and great WiFi.
The survey is used as the justification.
You asked for hot water and better chips.
The new Celtic end rail seating for standing night also actually happen.
As Larry David says
Interesting
!!Bada Bing!! on 2nd August 2024 12:32 pm
TB- yes,I changed my mind after reading Willie Miller’s assessment of him,he knows him well, and I respect his opinions on football. Brendan tried to get him last time round, and I’m surprised he’s not got him in by now.
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If you’re talking about Scott McKenna, I wouldn’t rule him out turning up in the last days of the window. Just depends how our hot irons (and his) turns out. While he wouldn’t be my first choice of a new CB, he’s better than all we have, except CCV.
Superbru update
With less than 24 hours to go, we have 59 entrants for Superbru. I’d like to break the 60 barrier if we can with a couple of late entrants.
Remember :-
Pool Name – Celtic Quinta Sentinels
Pool password – inkshoed (if needed)
I should clarify that Superbru might allocate you to a random other pool if you enrolled with us and you will always be included in the larger pool of all Celtic fans on Superbru who have identified as Celtic fans. You don’t need to do anything about this. These pools are not fund-raising and don’t require entrance fees. If you don’t want to be in them you can unsubscribe from any individual pool. Please check with me if you do not see the Celtic Quinta Sentinels name on your list of pools as some applicants had failed to make it through to our pool last season. It is easily rectified.
As it stands, 9 posters have still to make their predictions and the first deadline is 12.30 tomorrow. Spoiler alert- I am predicting a Hearts win and I don’t often predict Sevco dropping points.
Late entrants very welcome.
So, again the ambition is to be a bit better than a shambles/basket case /busted flush.
Europe is just too difficult. Well, if you want a competitive old firm it will always be too difficult (unless partner club suddenly make huge strides forward).
Same old, same old…….
Huns getting their season ticket allocations for Hampden today. Each game will require a separate print at home ticket or QR code. More rage from the Ragers
“the bounty from the best commercial deals in the land”
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In other shock news, Man Utd sold more shirts than Rochdale last year…..
Paul 67,
Loads to contemplate in your article.
“Celtic is a great gift to us, enjoy every minute of the season, win, lose or draw”
Indeed. For many of us Celtic is tje one constant in our lives from the cradle to tje grave.
We are indeed fortunate.
I am glad you are focusing on the match day experience. Are we being the best we can be ?
The answer is an empathic No.
Nowhere near it. Stadium improvement is an absolute must.
Your suggestion of moving the turnstiles way back and having the amenities inside an enlarged footprint is sound. And given the increasing security risk may be essential in the future. Security is not cheap, however if primary school innocents are not safe then nobody is. This is the future and we must plan accordingly.
As for incoming players and the attractiveness of our club. We are not optimising our pull. Champions league football is the worlds pinnacle club competition. This is where legends are made and careers are shaped.
To incoming players, give us a bit of your time and we will make you a better player and assist you in your next move. You will face the best teams football has to offer, play in iconic Stadium in many lands and play against the best players on the planet.
Having done that you can then follow the money with our best wishes.
So much to do. But it can and must be done.
HH.
Get Lawwell out now.
Wow… Twenty Years Of CQN Congratulations!!
Cool – where has that got us….
https://m.youtube.com/watch?v=Rr63Bexo8z8
Stay Connected…
Hail Hail
Really looking forward to this season, it is always twists and turns.
Celtic is a gift handed down to us, let’s hope we have more wonderful memories to look forward to this season.
Hail hail!
After beginning his playing career with Irish League club Glentoran, Cassidy played 239 times for Newcastle between 1970 and 1980, helping them reach the finals of the FA Cup in 1974 and the League Cup two years later.
He scored 28 goals for the Magpies, then spent three years at Burnley, before spending the final two seasons of his playing career with Cypriot side APOEL.
Cassidy went on to manage APOEL between 1985 and 1989, before stints in charge of Gateshead, Glentoran, Ards, Sligo Rovers, Workington, Newcastle Blue Star, Whitby Town and Blyth Spartans.
He guided Glentoran to an Irish Cup win in 1996.
Cassidy had been living with Alzheimer’s in recent years.
A post on Newcastle’s official X account said: “We are deeply saddened to learn of the passing of our former midfielder Tommy Cassidy at the age of 73.
“The thoughts of everyone at Newcastle United are with his family and friends at this sad time.”
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Another part of my childhood has gone.
‘It was twenty years ago today….’
McPhail Bhoy on 2nd August 2024 1:53 pm
Really looking forward to this season, it is always twists and turns.
Celtic is a gift handed down to us, let’s hope we have more wonderful memories to look forward to this season.
Hail hail!
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Agreed!
We’ll soon be told it’s difficult to get any construction done in the summer or get builders to come to Scotland. There will be a quip at the AGM about “look what happens across the city when you try to build stuff”.
This article hints, like most do before each transfer window, of jam tomorrow.
This Board has run out of room. It has no vision, no plan, and forget that every single department within the organisation is dependent on what occurs on the pitch.
We lack a long term transfer, or indeed any, plan. There is no strategy to develop and promote youth. Our recruitment is a complete shambles and an embarrassment to a club of our stature.
Every transfer window we are told that most work is done at the end of the window but each one closes with nothing only for the usual “disappointed” and “we tried” nonsense but that “we’ll be ready next window” yet the next window is exactly the same.
Let’s be clear here, I don’t expect Celtic to empty the bank buying players, what I do expect is even a small percentage of that balance to be spent on acquisitions to make us stronger in the environment we operate in.
If they can’t do the job it is time for them to go.
Financially, things have literally never been better. A year ago, our net cash position was £72m, aided by the ridiculously inflated price achieved for Jota (love him lots but never a £25m player).
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I didn’t make it past this on the article. Seems we’re being sweetened up to accept less than £25m for O’Riley.
Money! Money! Money! Must be funny, in a rich man’s world.
The Celtic board will continue to feather their own nests and treat the paying fans as no more than customers. Tories do what Tories do after all….
Paul 67 ,
Good article , 20 years on and still going strong , superb
Liking the sound of stadium upgrades .
Accessible Wi-Fi and hot water would be a start .
HH
CELTIC MAC @ 1:57 PM,
Oh yeah! That could have been a better one;)
Hail Hail
onenightinlisbon on 2nd August 2024 2:04 pm
The Celtic board will continue to feather their own nests and treat the paying fans as no more than customers. Tories do what Tories do after all….
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did you buy a season book ?
did you fund the board ?
KEY FINANCIAL ITEMS
Group revenue increased by 35.8% to
£119.9m (2022: £88.2m)
Operating expenses including labour increased
by 4.0% to £95.4m (2022: £91.7m)
Gain on sale of player registrations of
£14.4m (2022: £29.0m)
Acquisition of player registrations of
£13.0m (2022: £38.4m)
Profit before taxation of £40.7m (2022: £6.1m)
Year-end cash net of bank borrowings of
£72.3m (2022: £30.2m