BenLynch29
Well-known member
Report was published a little while ago, but I'm just now seeing it. Celtic makes an appearance on page 33 in the new "Eurovision" section which highlights 'big' clubs outside of the top 5 leagues that don't otherwise make it onto the main list.
https://www2.deloitte.com/content/d...te-uk-deloitte-football-money-league-2019.pdf
For those who aren't familiar with this annual report, Celtic was on the main top 20 list as recently as the 2008 (17th) report based on 2005-06 financial results. I believe they topped out at 16th place way back in 2006.
While the world has certainly changed, due in no small part to both Russian Oligarch's and Arab Sheiks buying up teams as their personal play things as well as the ridiculous amount of broadcast money that has flowed into the game, Celtic have basically stood still. Comparing Celtic's figures for matchday, broadcast, and commercial revenue streams vs our peers (or more accurately, those we're like to be our peers) for both 2019 and 2008 it becomes plain as day that the board and management of the club have utterly failed in bringing the club into the 21st century from a business standpoint. The club isn't run any differently than it was 10-15 (or even 20) years ago, and we've stagnated on every front with respect to business results. And yes, I realize the club just posted record financial results this past year, but that is small beans compared to where the club should, and can, be if it were managed appropriately. And to be fair, some of the reported decrease is due to exchange rate changes (thanks Brexit!), but that is quite frankly an excuse in my opinion as the cumulative turnover for the top 20 clubs has climbed from €3.7B in 2008 (the last time Celtic were represented) to now €8.3B representing an annual compounded growth rate across all revenue streams of 7.6% over that time period. Remarkably, Celtic's turnover has only grown by 0.23% over the same time period and 100% of the growth has actually come from broadcast revenue. Minimal progress has been made on the commercial front, and we've actually gone backwards slightly on matchday income. Had we grown the business by just 4% per year, which is very doable IMO, over the past 11 years, Celtic's revenue would have been €172M rather than the €115M we actually generated last year. That's €55M in recurring income that we don't have because the board and management team haven't been able to grow the business at even a measly 4%, rather they've grown it by less than 1/2 the rate of inflation and 100% of the growth they did achieve was due to the growth in UEFA payments for Champions League rather than the result of business planning or strategic decisions.
I may have to do a write-up, or several of them, and submit them to James to publish on his blog. But this is beyond ridiculous IMO the way our board and management have failed the club and its supporters. Spoiler alert: it isn't all about television money!
https://www2.deloitte.com/content/d...te-uk-deloitte-football-money-league-2019.pdf
For those who aren't familiar with this annual report, Celtic was on the main top 20 list as recently as the 2008 (17th) report based on 2005-06 financial results. I believe they topped out at 16th place way back in 2006.
While the world has certainly changed, due in no small part to both Russian Oligarch's and Arab Sheiks buying up teams as their personal play things as well as the ridiculous amount of broadcast money that has flowed into the game, Celtic have basically stood still. Comparing Celtic's figures for matchday, broadcast, and commercial revenue streams vs our peers (or more accurately, those we're like to be our peers) for both 2019 and 2008 it becomes plain as day that the board and management of the club have utterly failed in bringing the club into the 21st century from a business standpoint. The club isn't run any differently than it was 10-15 (or even 20) years ago, and we've stagnated on every front with respect to business results. And yes, I realize the club just posted record financial results this past year, but that is small beans compared to where the club should, and can, be if it were managed appropriately. And to be fair, some of the reported decrease is due to exchange rate changes (thanks Brexit!), but that is quite frankly an excuse in my opinion as the cumulative turnover for the top 20 clubs has climbed from €3.7B in 2008 (the last time Celtic were represented) to now €8.3B representing an annual compounded growth rate across all revenue streams of 7.6% over that time period. Remarkably, Celtic's turnover has only grown by 0.23% over the same time period and 100% of the growth has actually come from broadcast revenue. Minimal progress has been made on the commercial front, and we've actually gone backwards slightly on matchday income. Had we grown the business by just 4% per year, which is very doable IMO, over the past 11 years, Celtic's revenue would have been €172M rather than the €115M we actually generated last year. That's €55M in recurring income that we don't have because the board and management team haven't been able to grow the business at even a measly 4%, rather they've grown it by less than 1/2 the rate of inflation and 100% of the growth they did achieve was due to the growth in UEFA payments for Champions League rather than the result of business planning or strategic decisions.
I may have to do a write-up, or several of them, and submit them to James to publish on his blog. But this is beyond ridiculous IMO the way our board and management have failed the club and its supporters. Spoiler alert: it isn't all about television money!