Their Financial Results

Grant K said:
Ok, but what is the accounting convention here, the value would be known so will this be allowed for within debtors or accrued in some other fashion?
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The cash element be included in assets under 'trade receivables' and in the P&L it will be included under 'footballing operations' in the revenue section
 
theweeman said:
A lot of people reading that through blue tinted spectacles. It’s nowhere near as bad as people are claiming on here.

They made a profit. Purchases since then will be offset largely with ST sales and other commercial income.

It does, however, show that they need to make £15-£20m in player sales to break even.
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Couple of posters saying that Administration awaits them FFS. Wishful thinking.

Their Stats are what I would expect. No CL money means they are low on cash and rely heavily on this to fund their high wage bill.

Player sales have to bridge this gap, as what happened with Tierney. He was basically told he was going given the fee.

Next years numbers will be worse. But not many clubs will ride out Covid well, including us.
 
Teddy bear said:
They're owed 48 million quid from old player sales?
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Effectively yes.

Per the balance sheet they have £28m in short term receivables (due within 1 year) and another £13m in longer term receivables.

This will mostly be made up of installments from the Tierney, Dembele fees, various clauses and sell-ons for Van Dijk etc.

Remember the profit figures have nothing to do with cash. So even though the Tierney sale recognised a profit in their accounts, in all likelihood the cash won't be fully paid up for another year or so.
 
Disco Deejay said:
If they hadn't sold Tierney it would have been a £25m loss last season Grigo.

The impact of Covid on both domestic and European attendances/income will further reduce their income and increase their losses this year. Plus, they got through the EL Group stage last season, chances are they won't this season, further reducing their income by a few £million. Unless they sell big, I would estimate their losses this year will be nearer £35-£40m.

You might well be right, but for the first time ever, I hope you are wrong ..... and the more you are wrong by the better. :))
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Yes good point DD.

Last year it was 11m profit, after 20m transfer fee benefit, or so.

These new accounts as you say suggest 24m loss before Tierney.

You’re probably right that the COVID impact will be higher given that last season didn’t have a COVID impact on their euro attendances, but this will.

Good point my friend !!!
 
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Grigo Yossarian said:
The transfers are amortised over the players contracts, so I think you’re slightly OTT AL.

My thoughts, using last year & this year as the base, is circa 25m loss including COVID impact unless They sell big at Xmas.
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I'm not sure what exactly you mean but they 'lost' 12m on player registrations within the year which is essentially depreciation on an asset - in this case a player.

the 24m profit on Tierney has kept them going, but they've made a loss after tax.

They've also got 81m worth of equity, for comparison, we had 50m equity at June 2019
 
No idea what any of it means tbh but good to see they are worried as opposed to calling out our finances

It looks likely they'll be headed out of Europe too without much fight. I am confident we can get at least 4 wins from our group, and in to the knockout stages

£££
 
KensingtonBlue said:
Effectively yes.

Per the balance sheet they have £28m in short term receivables (due within 1 year) and another £13m in longer term receivables.

This will mostly be made up of installments from the Tierney, Dembele fees, various clauses and sell-ons for Van Dijk etc.

Remember the profit figures have nothing to do with cash. So even though the Tierney sale recognised a profit in their accounts, in all likelihood the cash won't be fully paid up for another year or so.
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It will also include monies from Uefa, sky & sponsors that haven't paid them yet
 
KensingtonBlue said:
Effectively yes.

Per the balance sheet they have £28m in short term receivables (due within 1 year) and another £13m in longer term receivables.

This will mostly be made up of installments from the Tierney, Dembele fees, various clauses and sell-ons for Van Dijk etc.

Remember the profit figures have nothing to do with cash. So even though the Tierney sale recognised a profit in their accounts, in all likelihood the cash won't be fully paid up for another year or so.
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The full fee for Tierney was paid in one cash lump sum mate.

They announced it to the Stock Exchange.
 
I've not read the whole thread, however very simply it's a massive loss without the sale of Kieran Tierney. No champions league this year will see them burn all excess cash without a fire sale. Tough times ahead for them.
 
KensingtonBlue said:
Effectively yes.

Per the balance sheet they have £28m in short term receivables (due within 1 year) and another £13m in longer term receivables.

This will mostly be made up of installments from the Tierney, Dembele fees, various clauses and sell-ons for Van Dijk etc.

Remember the profit figures have nothing to do with cash. So even though the Tierney sale recognised a profit in their accounts, in all likelihood the cash won't be fully paid up for another year or so.
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Where did you get that detail KB ? Would like to have a look.

If they have 28m receivables within a year, that’s disappointing From a cash perspective.

You know their payables over that same period mate ?
 
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Grigo Yossarian said:
Where did you get that detail KB ? Would like to have a look.

If they have 28m receivables within a year, that’s disappointing From a cash perspective.

You know their payables over that same period mate ?
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As noted the receivables aren't only transfer fees although for football clubs they often make up the bulk of trade receivables. It's likely that UEFA has possibly deferred some payments this season due to COVID - can't be 100% sure on that.
 
GeckoBear29 said:
I'm not sure what exactly you mean but they 'lost' 12m on player registrations within the year which is essentially depreciation on an asset - in this case a player.

the 24m profit on Tierney has kept them going, but they've made a loss after tax.

They've also got 81m worth of equity, for comparison, we had 50m equity at June 2019
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Ive not seen their accounts yet Gecko, just what Jaws, Sasa, and KB have posted.

I want to read through them properly mate.
 
Things to take into account :
We will be running at a bigger lose(as intended by the board)
Figures do not include their latest kit deal or season ticket revenue
Our figures won't include any kit deal/sponsorship , season ticket sales or MyGers figures
 
These figures only tell a part of the story.
The next set, from June onwards, will show how covid has fvcked them.
It will have obliterated any financial advantage they had over us. Every cloud and. all that. :D
 
Surely better things to make threads about and discuss than another teams financial results? nappy ripper behaviour
 
Livibear said:
The full fee for Tierney was paid in one cash lump sum mate.

They announced it to the Stock Exchange.
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Just found that announcement, cheers, didn't know that - can't quite reconcile where their huge trade receivable figure is coming from then. Assumed it was Tierney because Arsenal are notoriously stingy when it comes to upfront payments.

They could be due a lot from Lyon for Dembele - it would be a shame if Lyon's financial difficulties were to cause issues to that...
 
rinosprayer said:
His wiki entry is hilarious

A 5 ft 8 in Ivorian who has played less than a hundred games in 4 season across Moldovan, Belarusian and the Israeli league.

Guy is only 22 as well. Sounds like the kind of jobber we used to get under warburton.
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So Soro is an actual player ? I thought someone had photoshopped Soro on the back of the strip in the post
 
For me, the key takeaway from these numbers is that their operating expenses are £10 million greater than their revenue.

That means that they are dependent on CL and EL football and on player sales just to break even let alone realise a profit.

This isn't a new problem and it isn't a Celtic only problem. Rangers have had the same issues. However, it affects Celtic more because their wage bill is around £20 million higher than ours is so getting papped out of the CL was a major financial setback for them.
 
KensingtonBlue said:
Just found that announcement, cheers, didn't know that - can't quite reconcile where their huge trade receivable figure is coming from then. Assumed it was Tierney because Arsenal are notoriously stingy when it comes to upfront payments.

They could be due a lot from Lyon for Dembele - it would be a shame if Lyon's financial difficulties were to cause issues to that...
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The Rodgers compensation is probably spread over a number of years and competition money may be included.
 
If Lille and Milan win as expected on Thursday then the yahoos have absolute mountain to climb and are realistically playing for 3rd place in the Europa league down from last season when they won the group with 4 wins and a draw.

That's another potential loss of £3-4m in prize money on the previous season. I wonder if Lawwell might just pull the trigger on Lennon soon if it's looking like they might not make the last 32 in the hope someone else can turn things around?

They badly need that Europa prize money more than ever.
 
EndOfDays said:
Would their fans stand for selling a top player in Jan with "The 9.75" at stake?
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I think that would depend on how much they get for the player. Most fans - including ourselves - recognise that we are selling clubs at a certain price. The issue for Celtic will be who do they have who can command top dollar and do they have the strength in depth to be able to handle the loss? For example, we can afford to sell Morelos (if anyone wants to buy him) because we have Roofe, Itten and Defoe waiting in the wings.

Incidentally, I thought Celtic did an astonishing piece of business selling an injury prone Tierney for the amount they got.
 
Sasa said:
The profit before tax of £0.1m is a misnomer.

INCLUDED within that number is the gain on sale of players of £24.2m.

So without player sales, they ran a £24m LOSS.

No champs league money this year again, they need to shift some players.
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Of course it’s included. They sold the player and made the money.
 
Mr. T. said:
Of course it’s included. They sold the player and made the money.
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The problem for Celtic is that their operations ran at a loss despite CL/EL football.

So, yes, they made a small profit. But to do that they sold one of their best players. So what happens next year? Who do they sell? Can they reduce expenses? Will their investor stump up more cash?
 
KGR98 said:
Things to take into account :
We will be running at a bigger lose(as intended by the board)
Figures do not include their latest kit deal or season ticket revenue
Our figures won't include any kit deal/sponsorship , season ticket sales or MyGers figures
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they've got 22m in deferred income in their BS which will be ST payments up to 30 June.
 
Walters80 said:
If Lille and Milan win as expected on Thursday then the yahoos have absolute mountain to climb and are realistically playing for 3rd place in the Europa league down from last season when they won the group with 4 wins and a draw.

That's another potential loss of £3-4m in prize money on the previous season. I wonder if Lawwell might just pull the trigger on Lennon soon if it's looking like they might not make the last 32 in the hope someone else can turn things around?

They badly need that Europa prize money more than ever.
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It's too late for that. Lille will surely beat them and there will be no way back from zero points in the first two matches.
 
They are running out of money and there cash rich reserves have been depleted that's brilliant.

There operating costs are ridiculously high, they have a massive wage bill plus they've spunked £20 million plus since January and have a largely inferior squad compared to 12 months ago.

They can gloss over this but it doesn't look good.
 
SasaPapacLoyal54 said:
Apparently Christie, Ajer, Ntcham and Eduaord all enter the last year of there contracts next summer.

I think they will look to sell in January.
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Remember the Frenchman has a 40% sell on clause in his contract to PSG .
He has given up playing for Celtic . He scored 3 in their 1st game of the season , but expected to be sold . Has downed tools since & no interest in playing .
 
Valley Bluenose said:
Same date as them mate, 30 June. Our Accounts will be published in the lead-up to the General Meeting (usually in Nov/Dec).
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I haven't been following our numbers closely, but I'm hoping they won't be too bad given that we pay a lot less in wages than 'they' do and given that we did much better in the EL than expected.
 
Hillheadbear said:
I think that would depend on how much they get for the player. Most fans - including ourselves - recognise that we are selling clubs at a certain price. The issue for Celtic will be who do they have who can command top dollar and do they have the strength in depth to be able to handle the loss? For example, we can afford to sell Morelos (if anyone wants to buy him) because we have Roofe, Itten and Defoe waiting in the wings.

Incidentally, I thought Celtic did an astonishing piece of business selling an injury prone Tierney for the amount they got.
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Laughed all the way to the bank with that deal.
 
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