Uefa yesterday confirmed how they would deal with with Financial Fair Play (FFP) with respect to the crisis. Their statement had a bit of something for everyone: those who are keen to see FFP rules applied and those who are looking for some wriggle room.
Of the six emergency measures, two encapsulated both sides of this coin:
“Neutralising the adverse impact of the pandemic by allowing clubs to adjust the break-even calculation for revenue shortfalls reported in 2020 and 2021, while at the same time protecting the system from potential abuses
“Addressing the actual problem which is revenue shortfall due to COVID-19 and not financial mismanagement”
Protecting the system from potential abusers and not providing cover for financial mismanagement are strong messages. Miscreant clubs who have wallowed in financial mismanagement are under Uefa monitoring remain under pressure, the best they can hope for is a one-year reprieve from consequences.
Congratulations to SPFL chief executive, Neil Doncaster, who was appointed to the Uefa Disciplinary Body yesterday, recognition, I’m sure, of the manner he handled himself in recent months.
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Congragulations Neil Doncaster !!!! The architect / consparitor of the big Lie and the 5 Way agreement …….errr he wont be getting a card from me , get a grip Paul
Dallas and Doncaster prove it is all about having a city name that counts.
DeniaBhoy – ex Celt Dion Dublin should fit in…
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HWG TIAR
Too right, Paul. Imagine the lengths Celtic would go to if another club flouted financial fair play rules, particularly if it negatively affected them!
Fantastic turnaround for Neil Doncaster from these times:
http://www.celticquicknews.co.uk/neil-doncaster-and-the-birth-of-monster-myths/
http://www.celticquicknews.co.uk/doncaster-has-failed-scottish-football-fans/
http://www.celticquicknews.co.uk/doncaster-on-maintaining-a-fair-league-competition/
http://www.celticquicknews.co.uk/boycott-avoided-as-celtic-get-home-draw-in-doncasters-league-cup/
http://www.celticquicknews.co.uk/aberdeen-getting-a-grip-doncaster
You have to wonder why the sudden abrupt turn. Or rather, if you are wondering then you must be a bit slow!
Up the old firm!
One year reprieve ? Jammy gits.
Doncaster could start by acknowledging they are a new club – strip the titles
No congratulations from me
Good stuff Paul.
CQN routinely provides information unavailable elsewhere – thank you.
This all depends on how these rules are applied.
If your financial information is transparent (indicative of proper governance) the revenue drop off from Covid-19 can be identified EASILY.
If your finances are “murky” ….. ?
Paul67 – genuine question ….
How does an exec from a league (rather than a national association) get appointed to a UEFA body?
SPFL and disciplinary procedures is an oxymoron
Back to
Uefa are the governing body of all football
Doncaster is no friend of Celtic, never to be trusted.
Unfortunately, I can’t bring myself to cheer for Doncaster. He was involved (if not instrumental) in the greatest football fraud in the Scottish game.
Not for me, I’m afraid
Can’t be the only person wondering if that last paragraph was serious or tongue in cheek😱
GENE @ 1:15 PM,
Yes, while he is at it, he could also review the LNS Commission findings.
There were a number of areas where this commission was flawed, not least the determination that Rangers use of EBTs offered no sporting advantage.
Only to be totally contradicted by Sir David Murray who stated at the Craig Whyte trial that the reason they were used was to give a competitive advantage.
Neil Doncaster is on record himself stating a review is needed – this new position gives him the perfect opportunity to bring disciplinary charges in terms of the BTC, side letters, irregular licence applications and the WTC.
Of course it shouldn’t be overlooked that as SPFL chief executive that he was in the perfect position to ask Lord Nimmo Smith to review his findings at the time.
PRESTONPANS BHOYS @ 2:10 PM,
Yes, odd one that…
…recognition, I’m sure, of the manner he handled himself in recent months.
Does it relate to the way he dealt out summary justice to Hearts and others who disobeyed him?
TURKEYBHOY @ 11:51 AM,
Well, that wasn’t really my point. I made a series of comments and the jist was that a PLC is not a good ownership vehicle for Celtic Football Club.
As GUYFAWKESAFOREVERHERO states, two thirds of our shareholding in the hands of wealthy men, it wasn’t what Fergus envisaged.
The more specific point relating to “profit taking” in terms of money in the bank relates to the lack of re-investment.
It is generally assumed that leaving large amounts of Capital in a Bank Account not “working” is a waste of an important company assey.
I’m sure that wealthy people don’t pay Nick Train hansomely to manage their money to have it sit in someones bank account it may as well be in their own right!?
So it’s a curious investement.
Celtic PLC have over £40 million in the bank supporting the share price to give value to the shareholding. A “normal business” which football Clubs are, of course, not, would re-invest the money back into the business to give value or hand in back to shareholders in way of a dividend.
Now, in a football club re-investing is high risk, you can easily wipe out tens of millions of pounds, damaging the share value.
Also supporters aren’t going to accept tens of millions of pounds paid out to wealthy men as dividends, then pay thousands into the Club.
So my conclusion was the money is in the bank to support the large investors. Most small shareholders see Celtic as an emotional investment.
It is a key function of the PLC to protect and augment their shareholders investment.
There are many more models and much better ways to structure the ownership of a community club like Celtic for the benefit of the stakeholders.
It could give supporters a say in running the club, it could give more impetus to take part in community events, it could mean the ownership are prepared to take the higher risks to get UCL football.
The PLC model has proved a failure as far as Celtic punching their weight as a football team, a vehcile for developing tomorrows talent and being a modern an innovative club as it was 25 years ago.
Hail Hail
Oregonians enjoy
I’m with you, think Paul is having a laugh.
Ffs :((
Prestonoans bhoy
What am I missing? UCL for European Champions League?
Gene,
UEFA are made up of national football associations e.g. SFA ?
For what it’s worth, the club was planning to ‘reinvest’ some of that money into the business.
The club wanted to build a fan zone outside at the Celtic way. Blocked by the Council.
The club was planning to redevelop barrow field. A planning application was submitted and a decision date was due in April. Covid-19 has kicked that into the long grass.
Once the barrow field redevelopment was completed the club were going to revisit the Hotel proposal.
It’s also good practice to keep some cash reserves to help manage unexpected events like Covid.
Doncaster switched signs in the SFA disputes and dumped the Blazers in face of the modernisers I suspect Celtic lobbied him to back the modernisers. Peter Lawwell interview with Tom English stated Doncaster was “good people”. I also see him applauding Celtic and handing out the awards every season (at least for the last 8 and many future). Celtic are obviously built a relationship with him embolding him to take on the Huns and Hearts, ICT etc in the null and void argument.
However, I would not trust him one little bit as he is a snake and switches sides whatever way the wind blows. I would not be happy to congratulate him as he is as likely to become our enemy and a friend of Sevco at the drop of a hat
Just listened to Sportsound- the financial risk to clubs was discussed.
Tom English made the point that someone at Celtic told him our cash reserves would be wiped out by covid -19.
However, Tom left that hanging and no one else thought to mention what would happen if a Club had zero cash reserves and were losing money before covid struck….
Dungcaster is a cheating rat
D. :)
On season tickets, the only bhoys I know who have bought them are those on the automatic debit scheme. Everyone else are buying on deadline day, just spoke to one who said that’s what he’s done for nearly 20 years.
WEEJOE @ 3:08 PM,
Yes Uefa Champions League.
TIMALOY29 @ 3:12 PM,
Yes, I’m sure the Board are only too keen to re-invest in projects that can give the Company value.
Here’s what my take is, I’ve mentioned this in the past.
Some investors buy Celtic shares as future prospective profits could be huge.
We got MO’N in when it looked like we were going to get into the English Premier League. We went into debt to put out a team capable of competing.
Of course it never happened, although the prospect raises it’s head from time to time – as does the Atlantic league.
Of course, if we managed to get into these leagues and do well, we could see our share price treble, or if we become a top Club increase by a factor of five or even ten. Celtic have that Global potential.
The most recent rumour was the pan-european ECA league. Rumours abound that major players were organising a superleague – that Celtic would be in league 2.
https://www.goal.com/en/news/bayern-munich-karl-heinz-rummenigge-bundesliga-european/v9gx2urc0qtt1u72wkrqg6hjq
Now let’s say for arguements sake this was true, our CEO may well have known all about it, we may have made tentative plans around it, speculators may have got to hear about it.
Maybe a Hotel for well heeled visiting European supporters.
The point being, it then becomes about big business and the people who buy shares in the PLC have a right to expect the Board to maintain it’s share price. They may wish to take a long term speculative view and may not expect profits short term but they certainly don’t want to lose money on their investment and would expect our Board to run a tight ship in that regard.
If the share holders were all Celtic supporters who just wanted to see the team do well they may be happy to see £30 million spent on footballers.
Now, these players could get injured, loss form, the team may get papped out of Europe early, with the subsequent revenue loss, all things supporters may be happy to take a hit on that professional investors wouldn’t.
Yet the Board have a fidicury duty to protect the stockholders.
This is my point. There is now speculation that some English Championship Clubs are going to the wall, that it may make way for an old firm invite down south.
If, again big ifs, that happened I’d bet on Celtic in the top half of the premiership in no time.
Yet the fact is, for whatever reason we seemed to be paralysed by these institutional investors, the Board seem conflicted and not able to commit our full resources to the football team.
A more appropriate, yet still professional ownership model, one suitable for a community football club is going to take those shackles off…
Hail Hail
All Sport in Ireland given go ahead to recommence on 29th June. Initial attendance limited to 200 rising to 500 in 3 weeks.
90 % plus of the grounds would be quite small, 500 in them would e like 20,000 in Celtic Park.
Corkcelt
our GAA are having a Teams call tonight about what rules to apply to get the youngsters back training as soon as we can. Good news. Fitness will be pretty poor on the first session.
On fitness: I watched the Man City game the other night and the touch, fitness, strength etc all looked good, especially the touch and interplay. This after months out and no-one to kick a ball with.
It’s always annoyed me how some Celtic players seem to take weeks of the season to get sharp. The new signings needing to get match fit thing annoys me too. Remember when new signings boosted the first team, not the reserves? 😊
maybe the pressure of expectation in Scotland is not as great or some of them are just not as naturally gifted as the expensive players down south and i expect too much
Back to
European countries like Germany only have an FA they don’t have a separate league organisation. So I would think that uefa view all football administers in a country as being onev- if you get my drift.
Maybe we should only have one 😱
Paul67 et al
The Celtic Board, in conjunction with Sky Sports and the SPFL have gambled on current season ticket holders being prepared to pay as much for exclusive broadcast of Celtic games as they would had they attended in person. Non-season ticket holders need not apply. Nor contribute to match day income.
Should that lead to a loss of income/revenue over 2020-21 losses can be made up via “owners”, ie major or majority shareholders to a greater extent than now, £30 million plus over the period affected by the impact of Covid 19. UEFA will not have a problem with Dermot Desmond et al stepping in to offset any prospective or actual losses in our potential 10 ia a row season. Or indeed via a new share issue. Then again Neil Lennon , like Gordon Strachan before him could help mitigate those losses by, one releasing players, two transferring them, and or three not signing too many more. Or all three.
Chairbhoy
“If the share holders were all Celtic supporters who just wanted to see the team do well they may be happy to see £30 million spent on footballers.
Now, these players could get injured, loss form, the team may get papped out of Europe early, with the subsequent revenue loss, all things supporters may be happy to take a hit on that professional investors wouldn’t.
Yet the Board have a fidicury duty to protect the stockholders.”
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I think there’s a point of logic missing in this discrimination of motives between plc custodians and supporters groups custodians.
If this hypothesised group of supporters group custodians WERE (I know you said may but the implications still horrify me) happy to take the hit, I would want them removed at the earliest possible point. Our club is too big to be a plaything for those with ambition but no track record. There is a casual dreaminess in imagining we know how to buy, train and retain players, in a market where we are way down the predated-upon food chain, and then, in this imagined scenario, we make a balls -up but want to be granted a Mulligan and a re-do.
That way lies liquidation. Chasing your losses ends up in Gamblers Anonymous.
Whether we are a plc or fan-owned (and I am open to both possibilities)- I want responsible and sober people in charge who plan for the possibility of failure in a Sporting contest. There are always 3 possible outomes – win lose or draw, or get better, stay the same or worsen.
Too often I hear people presenting themselves as ambitious and not risk-averse who promise we as a big club in a small league can do much, much better. But when asked to outline how they would do it- they say we will buy better players, work on a smaller squad and just not do it the way it is done now.
Those aspirations fall very far short of being able to be called a plan. They are just wishful thinking. They are not risk-averse; they are risk oblivious.
There is no alternative to living within your means. Additional expenditure does not get rid of the risk.
We are about to enter a CL qualifying campaign that could see us have to negotiate 3 away ties. If that happens and I think the odds are just 8/1 for it to be so, then we will be very long odds to negotiate qualifying. Even with 2 away fixtures our odds are nowhere near certainty. Of our last 11 qualifying ties away, we have won 6 and lost 3. And that’s from 3 successful campaigns where we reached last 32 of Europa in each year.
The idea that Celtic Board sells players because they do not care about Sporting success is just a juvenile projection. They may have to be more balanced then the fans are in allowing the sale of want-away players but they do it in the hope that, by re-investing wisely, in young promising punts we will obtain enough winning scratch cards to more than cover our outlay. Buying experienced, tried and tested players comes with the risk that you have to take the bath on re-sale value. Nobody in the small leagues is playing that game. There is no comparator club showing us how it should be done.
Celtic has done a good job of re-inventing itself as an interesting 2nd or 3rd tier European club this millenium. We have left behind an era of the late 70’s, 80s and 90’s when we were a forgotten club – as relevant as other 60’s clubs like Rheims and Offenbach Kickers.
We all want to do better. We all would prefer a fan owned club to a plc run club.
But not at the expense of slipping back into League of Ireland relevance levels. I don’t want reckless dreamers anywhere near the major decisions of our club. Fan-run clubs would still need to make similar decisions as our current custodians do. Who do you know among the fan based groups that could satisfy the “ambitions” of our fans and still protect the 133 year long history of our fabled club?
P.S. I have asked often enough without getting a reply. How much do we lose out on each year on average by being a dividend-pay-out club? Is this a sum that makes a difference in the context of trying to climb up towards the elite club level? Is it a level of dividend payout that will attract Corporate Raiders who want to strip value or are there may other areas which provide more financial reward than buying into a football club? What kind of return does DD make from Celtic in comparison to his other investments?
The Barrowfield project needs to be built,2 people could build it and still have plenty of cash,Dermot Desmond and Lord Haughey,also the new Superstore and Ticket Office along with the Musuem,don’t leave it to the Celtic Supporters to put there hard earned cash again,
Just out of curiousity I thought I would see if EPL games, Norwich v Southampton eg, are still out there. Sure enough that one is, and more than likely Spurs and Manchester will be out there later on this evening. What makes Sky/SPFL think the same thing won’t happen to SPL games from August onwards?
There will be vultures who would buy into celtic …easy peasie
IMO
Why would either of those named build Barrow field ?
Norwich game is now showing on Pick TV, channel 11 on freeview.
https://www.youtube.com/watch?v=0I8oHvAsQ1g
Embdy there?
If you’re of the praying sort , could you please pray for me aunty betty of Pearse Street Dublin.
She beat hepatitis from a transfusion, contracted and beat covid but isn’t going to beat leukaemia.
Her chemo nurse thinks she’s hanging on to say thanks to her consultant in Vincent’s , Luke ! That is Aunty Betty to a tee!
Mon the Pearse Street!
Love you all!
I’VEHADTOCHANGEMYNAMEBACKTOJACKIEMAC,
Prayers said for Aunt Betty.
HH
Love YH