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.
208 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- »
Auldheid
Can we start a group to challenge this?.
Tjey have obviously lied
They
My St renewal letter is coming shortly
Ah wonder
Looks like Germany is getting a second spike………yikes!!
Wee GS BHOY AS ASSIST TO NL
Ah well. At least he knows what we r abooyt
Ah well. At least he knowaboits what we r abooyt
ST STIVS
“Luma Light Bulb Factory, Hardgate Rd, Shilehall, 1939”
Used pass that on our way down, by car, for the ferry to Rothesay, years and years before the M8 was built, though knew we still had a fair bit to go though :( por cierto.
So sad to see Filip Benkovic not even good enough to be among the 16 to get on the park for Bristol City against Blackburn . I really rated him when he played for us, possibly injured to often but thought he was class. Charlie Mulgrew suffered same fate in today’s game. Hope big Jimmy is doing ok. HH
Papajoe55 Hope you and your fellow Hoops supporting Muthillites are well mate. HH 🍀
All good Gordon64 hope you and yours are all safe and well.
emerald bee, gene.,kinglubo too
yeh.not seen S.o.t
hardly been on tho.
miss those choonz
hh
Papajoe55 Tell Scooter I was asking for him especially as the Sweeneys are doing my old dears MOT. 😜
Por Cierto and St Stivs – as a wee Bhoy travelling on the Greenock CSA bus the lightbulb factory was my ‘half way there moment’!
Por – do you still travel from Rothesay?
AKBW1888! Hello m8! Are you trying to tell us something!!???
SFtBs @ 4:11 PM,
“My view is that fan owned or Board-run, we should live within our means and not be going further into debt to fund a “big spend guarantees success” fallacy. My argument is over transfer policy not ownership.”
I’m not at all sure where “big spend guarantees success” fallacy comes from.
Maybe mixed messages from the Board again. Yesterday Turkeybhoy highlighted the foolishness behind the nonesense that we would buy Fraser Forster.
When his loan was completed it was suggested we had an option to buy – I poo~poo’d that straight away. I commented that it was a good bit of short term business but there was no way we could afford FF.
Now to your fallacy…
What I’ve always put forward is a pragmatic approach and…
It Has Been PROVEN To Work.
Over our nine~in~a~row, we have qualified for the UCL four times.
Our success, revenue and player value has risen and falling in a sine wave over that period and there is a direct colloration between investment in the team and our success.
After Tony Mowbray the revenue was low, the Board initially backed Lenny…
Our team got better as you’d expect, Lenny got into the UCL two years running, our revenue increased, we could attract better players, our squad value increased.
The Board stopped backing Lenny, not only that selling his best players. We failed to get into the UCL Lenny left and by the time Ronny’s here the revenue has fallen again (to Tony Mowbray levels).
Ronny wasn’t backed, even as a new manager, the revenue was low, Ronny got sacked BR came in, the Board initially backed Brendan Rodgers…
Our team got better as you’d expect, BR got into the UCL two years running, our revenue increased, we could attract better players, our revenue, profit and squad value increased to record levels.
The Board stopped backing BR, not only that selling his best players. We failed to get into the UCL BR left left and the revenue has fallen again.
It’s a HARD fact, it’s a PROVEN fact…
We back the manager
We get better players
We have more success
Revenue Increases
The value of our squad increases.
It’s not rocket science and the team success and Club revenue back it up 100%.
We have ten seasons now we can look back on and it’s a FACT backed up by any Club metric.
No fallacy, cold hard facts I’m afraid.
You want success, back the manager.
Who’d a thunk’it…
All you pops, have a great fathers day.
Me…
Am aff oot…
Hail Hail
For the second day in a row Sportsound have seen fit to comment on Celtic’s finances. The team with zero cash reserves, years of financial losses and an annual going concern warning slipped under their radar again.
I’ve no doubt we’re bleeding money at the minute. P67 estimates 3.5 million a month with wage deferrals to be made up. And if we’re down on season ticket sales and obviously match day income when the seasons gets underway then that hole becomes a very large one.
It’s entirely legitimate for the bbc to comment but how they miss the Sevco elephant in the room when they talk about club finances amazes me.
Sevco have issued a statement this morning confirming they’ve sold 32K season tickets to date.
P67 thinks they’re ahead of us at the moment. If we’re down tens of thousands season tickets come the start of the season then I think we’ll see players sold.
Happy Father’s day from a sunny North Staffs.
An dun – they’re banned from ipox don’t you know so can’t do any investigation interviews. Happy to do puff pieces.
An dun – I’m on the ST waiting list along with another 8000.
Church open for private prayers 🙏 this morning – back later.
JINKYREDSTAR
To Rothesay for my holidaybags :)) por cierto
Gene@ 8:47
I’m sure being on this waiting list doesn’t exempt folk from the economic consequences of the pandemic , like the rest of us. So I wouldn’t assume these 8000 now have the cash to spare either.
Sevco sold 44K season tickets last season. By their own admission they’re 27% down from last year, just over a week out from deadline day.
Now that gap will close and they’ve their own waiting list but they’ll do well to break 40K.
It looks likely from all I hear that we’ll dip to Ronny Deila season ticket figures if not worse.
That’s a big blow to us in the season we go for the ten.
On the face of things, Strachan as the new coach is a win for the Techy Modernisers. Phew! Neil continues as last man standing for the Who’s Round Is It Traditionalists.
Here we go to 10IAR!, still two to do.
—————————————————–
Next up is the club’s explanation for the disconnect between this news and the message coming from Lennoxtown about swingeing cuts required all round.
Re the financial hit likely to befall Our Great Club…………I can understand that our cash reserves will be hit dramatically by the current situation…….what I can’t comprehend is why there isn’t an OBVIOUS almighty financial crashing kalamity at Kovid FC…………
Shouldn’t there be a bankruptcy vigil and interrogative questioning of all or any “deals” that Klub is associated with?
tic-toc CSC
…also any word on what wee Strach’s bhoy is like?
Yep,you have to wonder at the intense interest in Celtics finances.One team at the start of Covid,reputedly have 30 to 40 million in the bank.The other has an ongoing,going concern issued in their accounts.One team even re-started training without a Covid testing machine,costing 35 grand.The other team,who purchased two machines,being put under the spotlight.When the Courts re-open for business,one club,has at least 3 outstanding claims against them,which will probably cost them anything up to 10 million.The Court cases conveniently swept under the carpet for now,to maintain the feel good factor.A headline the other day was proclaiming,”Rangers in line for cash windfall.2.5 million,for finishing second.20 MILLION?????????? Payment from UEFA,and new kit deal money.Obviously,we dont have any of this,especially with UEFA giving them double what we are getting.
Sack the Board.
BANKIEBHOY,
Did he not join us and play a couple of games recently during pre season tour of Austria.Positive he did.
https://www.webcamtaxi.com/en/spain/malaga/costa-del-sol-beach.html
To spend or not spend is a no brainier,
Nothing is more important to the fans than10 in a row,
They can almost taste it.
If for once tearing up rigid fiscal prudence to achieve it. Then so be it.
JINKYREDSTAR and POR CIERTO
We holidayed in Port Bannatyne, 2 miles along the road from Rothesay, when I was a bhoy.
I remember the whaling ships used to anchor in the bay.
We watched the new release, Bridge over the River Kwai at the cinema in Rothesy.
1957 or thereabouts.
Lovely memories.
Rothesay obviously.
Chairbhoy
“It’s a HARD fact, it’s a PROVEN fact…
We back the manager
We get better players
We have more success
Revenue Increases”
—————————————————————
You have a strange definition of the word FACT. I see a lot of that on t’internet.
All you have to do to make it a FACT is to omit all the alternative FACTS and all the alternative explanations which account for the same phenomena.
Such as:-
Nobody was backed more heavily than Tony Mowbray- he got Robbie Keane to play with, big money on Marc-Antoine Fortune, sizeable investments in Ki-Sung Yeung, Danny Fox, and Morten Rasmussen, plus 2 further expensive loans in Edson Braafheid, Landry N’guemo and Diomonsy Kamara. Where was his increased revenue and success?
Managers always ask for top loading of their transfer budget so they can start well and stay in a job. But just, like your fan run-Board scenario, they will always ask for more when it comes down to paying back that top-loaded backing. They all know the terms under which they accepted the job but, in their desire to stay in a job abd ahead of the chasing pack- they will want the money tap remained in the FULL ON position. They are temporary custodians and not, primarily, thinking of the long term health of their club (see Harry Redknapp Syndrome- temporary minor glory followed by many years of debt after he leaves)
In Neil’s case, first time around, he had won his leagues and he had survived a disastrous first Euro campaign experience to get us a last 32 CL in the following season and a CL Group 4th place in a very tough group. Neil was not sacked; he was asked to mentor Ronny and get a more secure and disciplined coaching base into the club than it was felt the Lennon/Parker/Thompson axis had been. Neil chose to leave instead and, because of his sufferings and press-imposed reputation up here, was only offered the insulting poisoned chalice of Bolton.
Ronny Deila came in and delivered two leagues, without a lot of financial backing (who was his expensive signing?). He got a good mixture of astute signings and loans though- Gordon, Denayer, Roberts, Ryan Christie, Jozo, Stuart Armstrong and Boyata, and had 2 contrasting seasons in Europe – a last 32 narrow loss to Inter in the Europa followed by a poor CL campaign and Europa Group 4th.
Brendan did not leave because he wasn’t backed further. He came to Celtic as “damaged goods”, repaired his reputation, and was planning to leave in his second season, for a club that would pay him a lot more. Though temporarily held to his contract, he hung around for less than a year and left at a time when we were still in a bit of a bind.
Finally, we still need reminders of the Rangers lesson. They went bust, because they resorted to cheating in their attempt to chase this CL success whilst living beyond their means. In all our exchanges of scenarios, motivations and Internet FACTS, that is the only indisputable one.
Our pattern or strategy has been :-
Live within your means
Don’t chase your losses
Do the best you can within this glass ceiling until you get a move of house.
That can be translated by critics into
Biscuit tin strategy
Risk averse
Unambitious
Bean counting
The proof will only come if we have stayed alive to fight another day and get a chance to be in a league commensurate with our size and following, or whether we will merely tread water condemned forever to attempting to square the circle of making it big in a backwater league.
I consider the alternative strategy of fighting now with a number of enemies who have bigger and better guns, to be foolhardy rather than brave, reckless rather than ambitious and playing with our collective futures.
Not to conflate issues, this is a concern whether we are Board run or Fan run.
I can’t recall Sevco publishing ST renewal numbers previously, I’m not sure what they’re hoping to achieve with these Sunday morning commercial updates.
If this is a new found desire for transparency on their part, then we should expect those 4 month overdue interim accounts any minute now…
Sevco are just using that number and the media to drum up support for more season ticket sales!
With the ongoing debate re fans membership, let me ask this: If Peter Lawwell would like to remain in charge, under a fans ownership scheme at a much lower salary, would you object or agree? por cierto
TURKEYBHOY on 21ST JUNE 2020 11:34 AM
Perhaps you’ve Anton Rodgers in mind who did what you typed.
——————————————————————————————–
Couple of examples of the scrutiny on Celtic freely available to us all from the annual report:
What does it cost us to sell our gear?
Inventories recognised as expense, 2020 £10.4m (2019 £10.4m). This will include food purchases as well as superstore products but it won’t be far wrong to suggest £8m per year to New Balance, say 200,000 items at average £40.
What really does DD get from us?
Fees plus dividends. Basic director fee £25k. Dividends 6% on Convertible Cumulative Preference 60p shares, 5,131,300 x 60p x 6% = £184,726.80 paid by cheque 31st August.
Loads of nuggets to pick out.
————————————————-
Steve McQueen and Return of the Seven before 1pm, must be a special occasion. Away for a walk with Dettol and kitchen towels. Today’s a good day to wipe a headstone.