Annual Results to June 2021

No one will ever equal Pedro, saying that Gerrards won 1 trophy in 3yrs, so he's nearly as bad🤣🤣 you coming up to watch the euro game?👍👍
Aye mate games at a more reasonable 7.45pm, it’s noo a euro game it’s raith rovers in the cup this Thursday, git the kettle oan 🤣🤣
 
£16.6m in the bank.... lets back Ange in Januray and maybe borrow next season's transfer budget and have a serious attemp at winning the league.

Some might say this is a gamble..... but is it really? Ange needs his team and his squad. If he has players lined up get them in January (only 6 months early) and give us the best shot at winning the league as possible.

If we win the league it would be Transformational in the Scottish football landscape:
1. Sevco would be still in huge debt and no way of paying it back. With an aging team.
2. Champions league money could be used to strengthen every side of our club.
3. Long term better chance of getting into the champions league.

If we don't win the league... the players are in place to hit next season season running.

Big transfer window January!
 
Niall's view...

Celtic Plc Accounts 5 Word Summary – ‘The Fans Spent Their Thousands’​


Grand article as always Niall, but there's also the other angle to take into consideration also.
This board are very shrew money men, and money gives you the power.
So even if not 1 season ticket was sold, they still have the value within the profit of the players on the pitch.
Going for the 10iar always was going to be a sell out on ST sales, so keep unhappy players knowing there value would drop hugely just so there wouldn't be a revolt among the supporters.
Either way they weren't going to lose out financially.
The same business model exists even now, as most signings from the summer are already worth far more than we paid for them, so they all remain financially OK within the boardroom regardless of the loyalty of the supporters towards the club.
Money gives the board the power weather we like it or not
 
£16.6m in the bank.... lets back Ange in Januray and maybe borrow next season's transfer budget and have a serious attemp at winning the league.

Some might say this is a gamble..... but is it really? Ange needs his team and his squad. If he has players lined up get them in January (only 6 months early) and give us the best shot at winning the league as possible.

If we win the league it would be Transformational in the Scottish football landscape:
1. Sevco would be still in huge debt and no way of paying it back. With an aging team.
2. Champions league money could be used to strengthen every side of our club.
3. Long term better chance of getting into the champions league.

If we don't win the league... the players are in place to hit next season season running.

Big transfer window January!
The money is already in the bank CR with the profit made during the summer.
I get that, there is still a lot of thinking about just spend more money on players.
But don't you think that might be a disservice towards many of the current players within the squad and the younger ones hoping to break through?
With the amount of players within the squad, I would worry more so about players getting no game time whatsoever and still keeping there interest.
Still saying that we have by far the strongest squad in Scotland and just lacking that consistency at the moment with the away form as it is.
Believe this will still change and would be very surprised if we were to witness a preformance as bad as Sunday for the rest of the season.
January will be time enough to have made a full assessment upon the squad as a whole and if improvements are needed for the rest of the season. Nothing we can do about it until then, yet remain confident that come January this won't even be an issue about getting more players in
 
How much working capital does club need to reach season end without overdraft or loans?

with inflation on rise the interest rates of loans will get nasty over this year

personally i dont think 20 million cash in bank is very much considering the wage bill of club.

not exactly sure how much we pulled in from season tickets but it is probably close to cash reserves we have if those accounts are accurate

which means before cash from season tickets came in we were down to bare bones

imo

that suggests our wages are too high, which suggests to me we dont really have that much wiggle room for increasing the wage bill without extra risks

Now imagine if you were up to eyes in debts then sales value of all your players declines unless somebody really wants your player

While club has no real debts the club can getr good sales values for players due to increased negotiating platform in comparison to needing to sell just to pay debts

20 million in bank at start of season doesnt mean we have lots of spending power

it will be lucky to cover working capital of club for 6 months
 
John No I get completely in regards not rushing into spending (burning a hole in the pocket).

I do disagree with the squad, for Scotland yes, but to fight on all fronts the squad is threadbear. You can see with a few injuries we are at the minium. McGregor & Kyogo we have no replacements. And we currently are playing 2 attacking midfielders (Thurnbull & Rogic) because we have no one else.

My other point is that a lot of the players we have signed aren't Ange type of players or weren't his choices. McCarthy and Scales for example were not his buys but he has been lumped with them, knowing that they just don't fit his style of play.

Kyogo and Abada were his and just from them you can see the type of player he wants.
 
John No I get completely in regards not rushing into spending (burning a hole in the pocket).

I do disagree with the squad, for Scotland yes, but to fight on all fronts the squad is threadbear. You can see with a few injuries we are at the minium. McGregor & Kyogo we have no replacements. And we currently are playing 2 attacking midfielders (Thurnbull & Rogic) because we have no one else.

My other point is that a lot of the players we have signed aren't Ange type of players or weren't his choices. McCarthy and Scales for example were not his buys but he has been lumped with them, knowing that they just don't fit his style of play.

Kyogo and Abada were his and just from them you can see the type of player he wants.
Will become more of a issue when things start becoming more clearer when players start returning from injury.
Would only be a guessing game now about weather a player was an Ange signing or placed upon him to bolster the squad.
Already get the impression Ange might not be to keen on Welsh as a CB.
Think also Ralston will be behind josip in the starting line up.
If scales and GG don't feature on Thursday, would make you wonder if they ever will.
Still many unanswered questions remain surrounding the team, and hopefully the answers will come when more players return from injury CR.
 
How much working capital does club need to reach season end without overdraft or loans?

with inflation on rise the interest rates of loans will get nasty over this year

personally i dont think 20 million cash in bank is very much considering the wage bill of club.

not exactly sure how much we pulled in from season tickets but it is probably close to cash reserves we have if those accounts are accurate

which means before cash from season tickets came in we were down to bare bones

imo

that suggests our wages are too high, which suggests to me we dont really have that much wiggle room for increasing the wage bill without extra risks

Now imagine if you were up to eyes in debts then sales value of all your players declines unless somebody really wants your player

While club has no real debts the club can getr good sales values for players due to increased negotiating platform in comparison to needing to sell just to pay debts

20 million in bank at start of season doesnt mean we have lots of spending power

it will be lucky to cover working capital of club for 6 months
You need to take into account tet, that there would have been no allowance for ST money that has came in from the summer still.
The accounts are only up until June this year based solely on last season.
A lot of activity in terms of finances have taken place since June.
ST money you would expect to cover majority of wages, got the extra income from home European and Cup matches, sponsorship and TV revenues, prize money etc etc
Having money within the club, would be the least or our concerns at present as plenty available imo.
But you can never be to sure surrounding finances within Scottish football with the level of corruption that exists with sevco scum (SS)
 
You need to take into account tet, that there would have been no allowance for ST money that has came in from the summer still.
The accounts are only up until June this year based solely on last season.
A lot of activity in terms of finances have taken place since June.
ST money you would expect to cover majority of wages, got the extra income from home European and Cup matches, sponsorship and TV revenues, prize money etc etc
Having money within the club, would be the least or our concerns at present as plenty available imo.
But you can never be to sure surrounding finances within Scottish football with the level of corruption that exists with sevco scum (SS)
The club made a huge loss despite some large sales

Thats covid related

Cashflow in may be bolstered by past sales finally coming into club?

The cash in bank is not always available for spending, working capital requirements , especially when bulk of income comes in once yearly, means you need that cash in bank to pay bills or else you will need toutilise credit facilities or like sevco keep selling confetti for cash to mitigate the losses and cashflow inssues

The cash balance is healthy but its not indicator club is capable of increasing wage bill without serious risks

That money looks good but its likely not enough to cover bills past january

Falling into debt will not be sustainable unless we can make profits despite debt

And if you have debts and make losses you must reduce wage bill or risk serious future issues and future squad decimation

unless we can get back on profit creation the bank balance is meaningless in long term

Adding value is paramount
Profit for long term growth, cash in bank is needed for short term solvency

20 million in bank is not huge when you have bills on wages 40+million basic wages every season
 
The club made a huge loss despite some large sales

Thats covid related

Cashflow in may be bolstered by past sales finally coming into club?

The cash in bank is not always available for spending, working capital requirements , especially when bulk of income comes in once yearly, means you need that cash in bank to pay bills or else you will need toutilise credit facilities or like sevco keep selling confetti for cash to mitigate the losses and cashflow inssues

The cash balance is healthy but its not indicator club is capable of increasing wage bill without serious risks

That money looks good but its likely not enough to cover bills past january

Falling into debt will not be sustainable unless we can make profits despite debt

And if you have debts and make losses you must reduce wage bill or risk serious future issues and future squad decimation

unless we can get back on profit creation the bank balance is meaningless in long term

Adding value is paramount
Profit for long term growth, cash in bank is needed for short term solvency

20 million in bank is not huge when you have bills on wages 40+million basic wages every season
There is merit in both sides of the argument about money in the bank versus investment in the squad, one thing that sways my personal opinion is not how much we spend but when we spend, over the last 5 to 10 years any spending on the squad has been too late to impact the early stages of the season, this has IMHO cost the club a larger possible income, the current board has become overly conservative in its approach to investment. Whether this is due to DD's influence I don't know but the reliance on the "glasgow Derby" has become so embedded in the business plan that there is no space for fresh thinking. Brendan Rodgers was hired because DD was irritated by sevco, only when it became apparent that PL was not going to support his ambition did he do a moonlight flit to Leicester. We should be grateful that Howe didn't take the job, and we've got AP, so let's hope the board take a chance to be supportive of him, HH
 
There is merit in both sides of the argument about money in the bank versus investment in the squad, one thing that sways my personal opinion is not how much we spend but when we spend, over the last 5 to 10 years any spending on the squad has been too late to impact the early stages of the season, this has IMHO cost the club a larger possible income, the current board has become overly conservative in its approach to investment. Whether this is due to DD's influence I don't know but the reliance on the "glasgow Derby" has become so embedded in the business plan that there is no space for fresh thinking. Brendan Rodgers was hired because DD was irritated by sevco, only when it became apparent that PL was not going to support his ambition did he do a moonlight flit to Leicester. We should be grateful that Howe didn't take the job, and we've got AP, so let's hope the board take a chance to be supportive of him, HH
Cost is higher to buy premium additions before window closes

Negotiations early cost more for quality players and we are no longer able to compete for CL ready players

So its easy to get shirts in but are they good enough and if you sign a shirt then before window sign the player you really wanted but couldnt get early coz his club were not willing to let him leave without big premium, then you end up with disgruntled players who thought they were signed for first team but really are back up.

on top of that wages for sub par players is getting out of control, so if you get a duffer your stuck losing big buck wages coz nobody will match his wage unless a sky club wants him

Not easy to get the players you want when their agent wants best wage he can get and the club wanting cant compete in the premium player wage categories due to the income levels

income dictates the wage budget

wage budget dictates the wage you can offer and for premium players you need pay big bucks both wages and transfer if he under contract and you want him early

now you could just buy from teams not classed as premium clubs or stick to bosmans but again wages can be issue

if you decide to pay the big bucks wages early you need to increase wages of every player under contract who are premium players alreadsy at club or get disgruntled players quickly

its catch 22 when your not in the tier 1 clubs (sky funded) but want to compete on pitch with tier 1 clubs

Money matters

And without the 100M bung from sky their league clubs get then we will need to find bargains or grow our own

but both come with buyer beware warnings

they possibly wont be good enough for a long period, perhaps never?

When it costs you 20K per week for a dude who aint good enough to wear hoops then your chance of competing against teams who pay 100K+ per week is low and when you can earn 40K+ playing in lower end of sky leagues then you cant afford players from those leagues even if they were actually good enough

the only thing that keeps celtic giving hard games is the huge fan attending big games

But that income from 60k fans is small fry compared to sky teams through big sponsors
 
Why do we need another CEO if the board don’t want to make any changes?
We NEED another CEO, just like we need another board.
For the chairman of the club to say that the failure to get 10IAR was “an operational highlight” just shows you out of touch this board is.
Also to say that “we accomplished a major overhaul” of the squad- accomplished?- is that the finished article? I hope not.
This club is a mess and one of the crucial points that need to be fixed now, is Ange gets his own men in.
With the time it takes this board to do anything, we’ll get them for the end of the season.
The only priority this board has is - we(the board) aren’t losing money are we?
 
£11.5 million loss is not to bad considering. If we lost that what will sevco's accounts look like.
They lost £14m the year before covid, so they must be in a hole for about £25-30m

Revenue has decreased to £60m . The board should hang their heads in shame. They know when we have champions league group stage football Revenue is around £100m , so in 2 years they have lost the club £70m by not being properly prepared for the qualifiers.
Get the board to fuck
TBH I don't think the board would fart without DD sayso.
 
For the chairman of the club to say that the failure to get 10IAR was “an operational highlight” just shows you out of touch this board is.
This type of report is 100% aimed at the stock market rather than fans (even though for many publicly traded football clubs many fans are also small shareholders as well), and this is the style of these documents to big-up your achievements - even if anyone with any knowledge of the operations understands that it should probably more accurately be described as a failure rather than a success.

To say anything different could/would affect their share price and the board would be failing in their main duty. Remember that a board is there to represent and do the best for their shareholders rather than "customers" (not a word that fans like to be called, I know), although the ideal scenario is where both are kept happy - in our case success on the pitch translates into increased share price and dividend pay-outs.

It is just normal corporate BS so I wouldn't get too hung up on this sort of nonsense.
 
Every team in the world has taken a hit financially with COVID - I must admit I thought our accounts would be worse. Talking in purely business terms, they’ve take some decisions to try and limit the damage - agreed, there are issues and tensions with how this works with the football side ie the important bit after all.

Laughing at the way some people in the MSM though and over at the midden are taking this as a sign that we are somehow in trouble as a business when actually it is showing exactly the opposite - we have the resources to ride out an unexpected event that has a major impact on the overall sector, and have assets that can be sold to help that. May not be ideal to sell players such as Frimpong but at least we have (had?) some players who we could sell for decent money.

Just think what it will look like in comparison to Sevco’s accounts - they won’t be released, they’ll fucking escape!!
 

Members online

Latest posts

Back
Top