Celtics Annual Results - Shareholdings

They have spent near 20m according to clyde this year so sales for players are certainly non profit for 2021 on next season accounts.

AND their squad value is now diminishing at an alarming rate,
 
Harrogate Bluenose said:
CHAIRMAN’S STATEMENT These results for the year ended 30 June 2021 show that revenue fell to £60.8m (2020: £70.2m) and we recorded a loss before tax of £11.5m (2020: £0.1m profit before tax). This was driven by revenue attrition and significantly lower gains on player trading, compared to the prior financial year. In the face of this adverse swing in financial performance, we are satisfied that we took sufficient and appropriate steps to mitigate the losses and control costs in the business. Our year end cash, net of bank borrowings, was £16.6m (2020: £18.2m). This gave us a base to invest in the summer transfer window as discussed further below.

The persisting trading restrictions from Covid-19 translated into lost earnings and, taking account of the seasonality in our trading, this was the key factor in the widening of our losses in the second half of the financial year. Conditions have improved markedly since the year end and we were delighted to welcome our fans back in July 2021. Although our stadium has been operating at near full capacity, recently announced Scottish Government restrictions on large venues will be a further challenge. Whilst we look forward with optimism to a more normal operating environment, we are mindful of the inherent risk of the pandemic continuing to affect public health. The Board was delighted to welcome new manager Ange Postecoglou to the Club in June 2021.

Ange is a modern, progressive coach with exciting, attacking football as his philosophy. He has received a host of prestigious coaching accolades, including being named as Australia’s PFA Manager of the decade in 2015. He has been well received by the media and our supporters. Over the transfer window, post year end, we successfully accomplished a major overhaul of our playing squad. At the season end, we returned a number of loan players that had amplified our squad. Then we invested significant sums in the registrations of Liam Shaw, Osaze Urhoghide, Liel Abada, Carl Starflet, Kyogo Furuhashi, James McCarthy, Joe Hart, Josip Juranovic, Liam Scales, Georgios Giakoumakis plus the loan signings of Filipe Jota and Cameron Carter-Vickers. And we achieved good value from the transfer out of a number of players, notably, Kristoffer Ajer, Odsonne Eduard and Ryan Christie, who have moved on to other opportunities. Our strategy of balancing player development and player trading is fundamental to our self-sustaining business model. In particular, the disposal of the registrations of Odsonne Edouard and Kristopher Ajer demonstrates our core strength of being able to transform young talented players into seasoned professional footballers. In turn, we invest the proceeds of these transactions back into the first team squad to enable us to continue to develop our squad and to challenge for future honours. Dominic McKay, who was appointed CEO on 1st July 2021 chose to step down on 10th September for personal reasons. I thank Dom for his contribution over the summer and everyone at Celtic wishes him well for the future. Michael Nicholson, Director of Legal and Football Affairs, has been appointed to the Board as acting Chief Executive Officer. Michael carries the confidence of the Board, he is experienced in Celtic, highly regarded in football circles and is a most effective leader of our executive team.

The entire season captured in the year ended 30 June 2021 was characterised by the absence of supporters in football stadiums and the huge disruption to our operations. On behalf of the Board and everyone at the Club, I thank the Celtic support for their backing and understanding last season whilst also sharing their frustration and disappointment. I must also express my gratitude to our sponsors and partners, who were also challenged by the unique circumstances. As we progress through the current season, our objective is to work with the authorities to ensure that we can continue to operate in a safe manner and in a way that facilitates our players being able to give their best and our supporters being able to attend matches at full capacity. We look forward to the season ahead with measured confidence in both our footballing prospects and the robustness of our business model. Celtic PLC is directed by a Board of individuals with demonstrable experience both of Celtic and wider business, its operations are managed by an executive team of talented specialists led by our Chief Executive and the executive is supported by a dedicated cast of colleagues who have worked tirelessly for the Club over this most difficult financial year. I thank them all for everything that has been achieved. Celtic is in good hands. Ian P Bankier, Chairman 20 September 2021
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Summary of results until June 2021, then they go on to talk about the transfers they concluded afterwards, which are not related to the figures in the report.

Guessing they never mentioned the ST refunds they had to pay out?
 
Gazrfc said:
In Lehman’s terms….what’s their loss?

lol
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Virgil Hilts said:
Then you deduct the cost of knew signings +expenses ( ssell on / agents / signing fees etc ).

Rangers have never made a £9.4m gain on player trading, in one reporting period, in our history.
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Aye we have, made over 10m in the season we sold Albertz, gio tugay etc. Think we brought in the region of £20m in transfers. Was during eks reign I think.
 
Snakehips said:
Summary of results until June 2021, then they go on to talk about the transfers they concluded afterwards, which are not related to the figures in the report.

Guessing they never mentioned the ST refunds they had to pay out?
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Do you honestly think that they’re refunding s/t monies and not reflecting the related costs in the relevant accounting period?
 
Virgil Hilts said:
Their figures are way better than I’d hoped.
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Re the people questioning their prowess at getting good money for their players?

When we were laughing at them paying circa £10m for Barkas and Ajeti, do we not believe that now, because it bumps up their plAyer sales total?
 
I haven't looked at the accounts other than what's been posted here. However for those that are saying it won't include the full player sales because of payments in instalments. I expect the profit would all be taken in year, but the cashflow would show the remaining payments to be made as transfer debt outstanding.
 
MearnsUnionist said:
First thing that jumped out at me.

Frimpong £11.5m
Klimala £3.85m
El Hamed £1m

= £9.4m?????
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Is “gain on sale of players registrations” the total amount the players sold for, or profit they made on the sale of those players?

i.e. Frimpong at £11.5m - £3m to city - the £300k they bought him for is £8.2m? Then add the profit and loss from other signings and the £9.4m figure makes sense, to me at least providing that is how it is calculated.
 
StirlingBear said:
Aye we have, made over 10m in the season we sold Albertz, gio tugay etc. Think we brought in the region of £20m in transfers. Was during eks reign I think.
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StirlingBear said:
Aye we have, made over 10m in the season we sold Albertz, gio tugay etc. Think we brought in the region of £20m in transfers. Was during eks reign I think.
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And we bought Ball, Shota, Nerlinger etc.

Forget the headline figure; it’s sales V costs.

Say Rangers got £7m for Jela, it’s irrelevant we spent say£4m straight away on Lafferty :oops:
 
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MearnsUnionist said:
First thing that jumped out at me.

Frimpong £11.5m
Klimala £3.85m
El Hamed £1m

= £9.4m?????
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Need to take account of their value ‘on the books’ (remaining balance of transfer fee divided over the period of the player contract) and net that off against the sales number though mate.

Klimala for example wouldn’t have made up much of that ‘gain’ figure as he’d relatively recent signed so would still have been at a decent value on their books.

Tierney or any other player coming through a youth system is different as there’s little to no ‘book value’ for them usually as they were developed internally rather than paid for, so the vast majority of any quoted fee goes to the ‘gain’ figure.
 
Would be surprised if there are many clubs without significant losses this year.

I expect us to have a much bigger loss but the key difference is we still have all our key assets on the pitch.
 
Does anybody genuinely not believe that they’re going to be reflecting approx. £25m for the sales of Ajer & Edouard in next year’s accounts?

Their figures are de ent and their transfer policy provides good returns on funds invested. If it didn’t, they’d be dependent on loans from Fritzl.
 
Harrogate Bluenose said:
they supposedly made a profit on Klimala - bullshit. And got near all money back on el hamed - bullshit
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The quote regarding Klimala was something along the lines of they "got back their initial payment" on the player. (Can't recall the exact phrasing).

To me it read they had received the same amount paid as the initial installment to the Polish mob.
 
Virgil Hilts said:
Does anybody genuinely not believe that they’re going to be reflecting approx. £25m for the sales of Ajer & Edouard in next year’s accounts?

Their figures are de ent and their transfer policy provides good returns on funds invested. If it didn’t, they’d be dependent on loans from Fritzl.
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I dont as the reported figures will include add ons which wont activate until goals, appearances have been achieved.
 
Virgil Hilts said:
Re the people questioning their prowess at getting good money for their players?

When we were laughing at them paying circa £10m for Barkas and Ajeti, do we not believe that now, because it bumps up their plAyer sales total?
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Of course they lie about this too

Just this past summer they were claiming a 7 or 8 mil bid for a guy was knocked back when days later he was sold to another team for 3 or 4mil
 
Clay Davis said:
They’ve got more than 16m in the bank where we rely on directors loans to keep the lights on.

This seasons league title is vital. We must win the league.
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Our accounts will show the difference between what selling players and not selling players does!!

RW has a job on his hands and I can see Patterson heading out the door sooner rather than later if we don’t get decent bids for Alfredo, Kamara etc
 
An £11.5m loss isn’t actually too bad for them given the circumstances. I suspect ours will be considerably more.
 
What you are reading in their accounts is probably the reason the CEO quit - hell no, I am not putting my name to that fiction
 
Mr Wilton said:
It’s not, but the money they’ve spent which had made them far poorer on the park is good. The likes of Hart 3 year deal and McCarthy 4 year deal on £25k a week! The current decision making is awful and in time that will come to a head.
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Their Settlement agreements on contract termination has jumped to 630 from 80 the previous season. With the players they have bought this season that figure will have a similar increase in next years books. Unless they all become Dundee players of course.
 
I’m not an accountant, but I suspect ours will be considerably worse. It’s all relative though, we still have a few assets - they have one or two at best.

Win the league, hope to fck the CL winners qualify through their league, if that comes to fruition - then we will be in a good place.
 
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