Pay Cuts & Deferrals

Gary67

Well-known member
CELTIC Football Club today confirmed that a package of measures has been agreed with staff and players which will help the club to come through the current coronavirus crisis on a stable basis while ensuring that the rights and interests of all colleagues are safeguarded.

For the period April-June, the club's Chief Executive, Manager, non-executive directors, first-team squad, executive team, and backroom staff, including Academy and Football Operation executives, have volunteered to take a significant reduction in salaries and make deferrals of a significant proportion of their earnings.

Chief Executive Peter Lawwell said: “I would like to pay tribute to Neil and the players for their desire to play their part and the outcomes achieved. I am also grateful to my own executive team for the commitment they have devoted to this outcome in very difficult working circumstances and also their own willingness to play a part in the measures adopted.

"I am extremely appreciative of the willingness of everyone concerned, to recognise the practical difficulties which this awful crisis has created. Celtic are in a strong financial position but we are not immune to this unique set of circumstances.

"Our club is built on a great collective spirit and we are acutely aware of our responsibilities to colleagues, supporters and society as a whole. The fact that we can announce this package of measures in a spirit of harmony is testimony to the unity which exists within the club and will carry us into the future.

“We will negotiate and overcome these unprecedented times of challenge with continued teamwork and support for each other and I would like to thank our fans for the continued support which they give to the Club. Our togetherness is our strength.

“I also want to take this opportunity to thank all those people, across so many areas of life, who are so bravely doing all they can to keep us safe and well. Everyone at Celtic applauds this monumental effort.”

Neil Lennon said: "This club is all about teamwork and solidarity, on and off the park. We are well aware of the economic realities and are very willing to play our part in recognising them. We will come through this in unity and then look forward to the challenges ahead.

"We also know that many within society, including our own support, are facing distress and, in some cases, tragedy. Everyone at Celtic Football Club, including the players and my own backroom team, expresses our appreciation of the work being done by NHS staff, carers and all who are providing vital public services at this time."

The package of measures will apply from April to June, to be reviewed thereafter.
 
mmm - would like to have seen actual numbers - not just a bit of pr spin
Friday 10th April 2020

It will not be spin in fact it will show up in the half year accounts required for companies house and Europe, take the total in and deduct totals out and look for the new increase due to the cuts to gain a total of moneys saved this will give you a percentage which you can work out on average or give you a mean per centage across the highest earners.

Board update on Rangers Resolution
SPFL Statement

The SPFL Board received a requisition from Rangers, supported by two other clubs, that the Board must issue a further resolution to members. This resolution sought to compel the SPFL to lend money to all 42 Clubs.
The Board took legal advice from a leading QC on the proposed resolution. By law, the members of a private company can require their Board to circulate a resolution, unless such resolution would be ineffective if passed.
The clear and unequivocal legal advice received by the SPFL is that the resolution received from Rangers is ineffective in terms of company law. As a result, the Board determined this morning that it cannot be circulated to members.
We have seen a statement from Rangers that they “sought comment from the SPFL Executive on several occasions yesterday, to ensure [their] resolution was deemed competent”. For the avoidance of doubt, only at 10.18pm yesterday did the SPFL’s lawyer receive an email from Rangers seeking advice on the content of their resolution, which was put before the SPFL Board first thing this morning.
Rangers have expressed a desire to submit a further resolution. The SPFL’s lawyers will work with Rangers, as they will with any other member club, who wishes to put forward a resolution. The offer to help clubs with the drafting of their resolutions was made during the divisional conference calls on Wednesday. Rangers chose to proceed without seeking that help, with the result that their resolution was ineffective.
A spokesman said: “These are extremely difficult times for the people of Scotland and for every club in the land.
“The SPFL Board has worked hard to propose a clear way of quickly delivering much-needed fee payments to the 30 clubs in the Ladbrokes Championship, League 1 and League 2.
“The alternative is further weeks, and possibly months, of uncertainty and financial hardship for dozens of clubs which are desperately looking for a way to survive.”
 
Board update on Rangers Resolution
SPFL Statement

… "We have seen a statement from Rangers that they “sought comment from the SPFL Executive on several occasions yesterday, to ensure [their] resolution was deemed competent”. For the avoidance of doubt, only at 10.18pm yesterday did the SPFL’s lawyer receive an email from Rangers seeking advice on the content of their resolution, which was put before the SPFL Board first thing this morning."...
Sevco's numerous requests were probably 10:18pm, 10:19pm and 10:20pm. Any lie to suit its own agenda will do.
 
Friday 10th April 2020

It will not be spin in fact it will show up in the half year accounts required for companies house and Europe, take the total in and deduct totals out and look for the new increase due to the cuts to gain a total of moneys saved this will give you a percentage which you can work out on average or give you a mean per centage across the highest earners.

Board update on Rangers Resolution
SPFL Statement

The SPFL Board received a requisition from Rangers, supported by two other clubs, that the Board must issue a further resolution to members. This resolution sought to compel the SPFL to lend money to all 42 Clubs.
The Board took legal advice from a leading QC on the proposed resolution. By law, the members of a private company can require their Board to circulate a resolution, unless such resolution would be ineffective if passed.
The clear and unequivocal legal advice received by the SPFL is that the resolution received from Rangers is ineffective in terms of company law. As a result, the Board determined this morning that it cannot be circulated to members.
We have seen a statement from Rangers that they “sought comment from the SPFL Executive on several occasions yesterday, to ensure [their] resolution was deemed competent”. For the avoidance of doubt, only at 10.18pm yesterday did the SPFL’s lawyer receive an email from Rangers seeking advice on the content of their resolution, which was put before the SPFL Board first thing this morning.
Rangers have expressed a desire to submit a further resolution. The SPFL’s lawyers will work with Rangers, as they will with any other member club, who wishes to put forward a resolution. The offer to help clubs with the drafting of their resolutions was made during the divisional conference calls on Wednesday. Rangers chose to proceed without seeking that help, with the result that their resolution was ineffective.
A spokesman said: “These are extremely difficult times for the people of Scotland and for every club in the land.
“The SPFL Board has worked hard to propose a clear way of quickly delivering much-needed fee payments to the 30 clubs in the Ladbrokes Championship, League 1 and League 2.
“The alternative is further weeks, and possibly months, of uncertainty and financial hardship for dozens of clubs which are desperately looking for a way to survive.”
That comes under Telt
 
Friday 10th April 2020

It will not be spin in fact it will show up in the half year accounts required for companies house and Europe, take the total in and deduct totals out and look for the new increase due to the cuts to gain a total of moneys saved this will give you a percentage which you can work out on average or give you a mean per centage across the highest earners.

Boab,
Look forward to you providing the figures on that - nobody can really break down wages etc on a normal set of Celtic accounts.

If it was that easy why not just tell us actual or projected numbers - its PR - nothing more at this stage.
 
it would have actually told me if we are actually saving any money....
honestly ghuys - if this statement would have come out of Sevco you wouldhave laughed it all the way to where it deserves to be - we should be better than this
 
without numbers it is PR spin - its basically a statement of nothing - give me the numbers and I will give an honest opinion - I dont look at things through green eyed specs just yet.
 
Have no reason to believe they would lie ,also what ever figure they did put out would be met with derision on some quarters

They've laid out a plan , they covered every aspect of the club at every level behind the scenes (not including playing squad ),
I believe they're doing it for the long run and the good of the club

as we all know we don't do P.R ,that's left to the manky skint fkrs across the city
 
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