Their Financial Results

From these accounts it is clear that they are on a financial knife edge, requiring either CL money or a major transfer out.

In years gone by theyve had the luxury of selling to raise money, weakening their squad but safe in the knowledge they had no challenger for their title and access to CL qualifying.

Not so now.

Also, out of their main assets Edouard, Ajer, McGregor and Christie, who have 1.5 years and a dimimishing transfer value, who could they realistically afford to lose without weakening them further?

And then they would require replacing, as well as 3 loanees and a p!ss poor goalkeeper as well.

After years of us predicting them struggling without CL income, this year really is the year when us winning the title would severely hit them financially and limit their ability to hit back with "marquee" signings.
 
Centralbear said:
From these accounts it is clear that they are on a financial knife edge, requiring either CL money or a major transfer out.

In years gone by theyve had the luxury of selling to raise money, weakening their squad but safe in the knowledge they had no challenger for their title and access to CL qualifying.

Not so now.

Also, out of their main assets Edouard, Ajer, McGregor and Christie, who have 1.5 years and a dimimishing transfer value, who could they realistically afford to lose without weakening them further?

And then they would require replacing, as well as 3 loanees and a p!ss poor goalkeeper as well.

After years of us predicting them struggling without CL income, this year really is the year when us winning the title would severely hit them financially and limit their ability to hit back with "marquee" signings.
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That was the case for us before 2012. We needed CL group stages just to break even. I hope that we have moved on in terms of financial management since then. It is clear that Celtic have not.
 
Shota said:
I don’t think we will be far off breaking even tbh.

Expecting an improvement on last year.
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while we will have made a bit in european money, we wont see any castore money in this years accounts and having not sold any players for any decent transfer fee, i am inclined to think it wont be so close to even, but i know the square root of fvck all about finance so who am i to suggest :D
 
Coplandbear said:
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.
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this.

it has been rumoured our budget is 50% of theirs.

At this moment of time revenue will be so much closer thanks to our new dealings in sponsorship/merchandise and Europe.

Covid will be having a huge impact coupled with dead end expenditure of non investments aka loaned players.
 
Sasa said:
I agree.

We sold out season tickets - So have no missing ticket income from walk up sales.

We have sold a shitload of kit. We lost all of that in the spiv years.

We had a good europa run.

I expect our accounts to be the healthiest we’ve seen in a long long time.
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would this not all come in next years accounts though?
 
When my old warped brain sees a profit of £11.3m drop to a mysterious figure of £100,000, I immediately think large dollops of "window dressing" going on.
If they'd spent just £101,000 more, 3 weeks wages for some of them, then "Celtic Makes a Loss" would have been plastered over every headline. Can't have that now, can we?
 
Hillheadbear said:
That was the case for us before 2012. We needed CL group stages just to break even. I hope that we have moved on in terms of financial management since then. It is clear that Celtic have not.
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Between 2008-2011 we were profitable and reducing debt significantly, albeit with CL money, before the HMRC and Whyte financial shit show.

They, and us in reality were not that dis-similar, i.e. we both made a profit with CL income, or a loss without.

They were held up as a model of prudence, us on the other hand were considered a basket case.

IMO their business model since has always been a risk as there is no guarantee of either CL qualification or a major transfer out, they have had the benefit, however, of their cheerleaders in the press continually ramping their players value.
 
Shows even more what Rangers have built under Gerrard & Allen/Wilson. We have saleable assets now where they are lacking and having to bring in expensive loans - they would be in a right state without that money from biscuit hips sale . Kent, Aribo, Hagi, Kamara, Itten, Barasic, Katic, Morelos, Jack, Bassey, Roofe could all command a decent fee.

If they can't get Edouard to sign a new contract then they will need to sell soon and there will be a sell on with PSG. Mcgregor is probably their most valuable asset and someone might take a punt on Frimpong. Not making their money back on Julien, Taylor, Bolingoli, Klimala, Barkas etc. and that list isn't exhaustive.
 
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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I've not seen the stock exchange announcement but that doesn't stack up with their accounts. I had a look at their cash flow statement and their 'proceeds from sale of intangible assets' figure is £19.6m
 
Recoba said:
This is Soro, another midfielder brought in out of nowhere to rot in the bench, they bought him and Klimala for over 5 million !

0-19812086.jpg
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Looks like a fan who won a competition to train with the first team for a day.
 
Neilstonger said:
The closest that’ll get to a mention is as a Contingent Liability but for as long as they continue to peddle the separate entity line it won’t. Once they lose, it’ll go straight onto their Balance Sheet.
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They don't have a clue how much heir Contingent Liability will be which is why they have heaved a sigh of relief that they don't have to put a figure in their Financials. Once the first domino falls in the court case, the accountants can then work out how much they will be faced with. They will have a separate company set up and a lot of financial transferring about through different separate entities offshore with overdrafts and Bank loans which will then quietly be put into bankruptcy and hidden away with no publicity.
 
KGR98 said:
Fair enough so apart from their kit deal and European money they are on thin ice unless they get a player sold or bankrolled by an investor
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Yes as others have said, it's obvious that they are running at a heavy loss if they don't make the Champions League and don't sell players.

For example, their £11m profit last year includes £17.7m of profit on players (must be Dembele) and £8.8m of other income (I'm pretty sure that will be the compensation they received from Leicester for Rodgers). In other words, strip out the Dembele sale and Rodgers money and last year is an underlying approximate £15m loss.
 
A poster earlier referenced the fact that their AGM will be focused on discussions about Rangers.

While obviously partially tongue in cheek, its fucking true, and I think the underlying point to take away from their obsession is that they've taken their eye off the ball by focusing so much on us without considering how abysmal things are internally.

The financial results are startling. I expressed concern on here last night over their rabid pursuit of the fake 10 in a row and how they could push the boat out to secure a big name to turn them around. With these numbers it looks increasingly unlikely as they will need to pay TLB off, then pay top wedge to get someone in.

That said, Rodgers was on over £70k a week. That is fucking massive money for a manager in Scotland. Cant see them doing similar this time around. Long may their fucking agony continue, shit cùnts.
 
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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They have received all Tierney's money up front. Where the 48mil is from. I have no idea. Any sell on fees for Van Dyke etc cannot be tabulated as there has been no sales so, that dog won't hunt.

You can't have it both ways.
 
Have they ever disclosed how much the mhanky hordes took back in ST refunds?

I bet it’s a drop in the ocean compared to what it will be this season if the don’t get their 9.34627...
 
Valley Bluenose said:
Indeed. Just like our own Club in recent years, if they need guys to invest they will get them. Nice to see a little turmoil though.:)
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It’s like every investor scenario though , they impact on the size of the pie and want something in return and it’s about dilution of influence and takings somewhere along the li
Eg why wouldn’t they get preferential share deal like the others ?

so as you say VB overall a positive from our perspective
 
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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Jack Ross or Derek McInnes you think ?
 
Terminology used always interests me... especially when new terms are suddenly used for things.

The term, “acquisition/invested” in the registrations of various players rather than new signings/transfer of players is curious. I’d be interested to see if the Rangers, or any other clubs accounts use the same terminology.

I’m not trying to find some hidden meaning to it - I’m just nosey about why we suddenly hear it.
 
Their entire financial plan for the last period has been to buy a ton of players and hope one or two make the grade. And this has worked, but all it take is one or two dodgy summer signing sprees and you end up with a lot of players on high wages and no capital players to sell to offset the payment.
 
I work in accounting so hopefully can provide an insight into some bits.

On going bust - Page 10 on going concern summarises some key bits - they've got a £13m credit facility they haven't touched, a net asset position and roughly broke even (although as pointed previously, this was reliant on the sale of players). As much as I'd absolutely love to see nothing more than Declan greeting at them folding, I don't imagine it'll happen any time soon unfortunately.

I imagine they'll try and cut that wage bill in Jan/end of season now. I can't see them running up those wages with even further decreased revenue after 30 June 2020. So would be shocked if they don't shift some of the high earners come the end of the season to balance the books out a bit more.

Like most though, Covid is taking its toll defo. They've used up about a third of their cash in the year (used 11m) so that won't last forever if they want to keep running those wages up!
 
Cyberniv said:
When my old warped brain sees a profit of £11.3m drop to a mysterious figure of £100,000, I immediately think large dollops of "window dressing" going on.
If they'd spent just £101,000 more, 3 weeks wages for some of them, then "Celtic Makes a Loss" would have been plastered over every headline. Can't have that now, can we?
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Absolutely had that thought too mate.
 
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