Celtic record debt of 5.85 million.

* all to do with being Celtic men, they're entitled to compensation. Celtic was in the wrong here, not three of them.

 

I know mate imagine what position we would be in if we won the last 2 titles.

 

This!

I know it looks bad on paper, but we should be looking at these figures as being very positive. This debt is more than sustainable and is due to last years disastrous campaign. The fees shelled out to hire and fire the previous management are the main cause of the debt.

This is as bad as it will get. When we win the league and qualify for the Champions league next season, the debt should be just about clear.

 

Not much to worry about, there's a recession on and everyone's losing money.
If we win the league this year and get into the CL then we can pay it easy.

 

if i * celtic over so badly as a manager, id do the classy thing and resign without taking any compensation

but yes they are entitled to it

 

I agree with all of this. I would rather be debt free to service the £5M+ Debt.
And we don't need to blow a lot of money on a fancy dan player with dodgy knees that might not last the season.

 

really good results considering no cl cash for two years

 

why does our 'billionaires' not put money in?

 

sensational is a little over the top mate but i totaly agree that these are very very good figures considering all thats happened. lets not forget right now after the sale of mcgeady as a club we are in incredible strong financial position (even though lennon is quoted as saying he is getting to re-invest this money). i have absolute confidence in the way the club is run financially and its clear the debt is sustainable. i think we can easily sell a couple of players and recoup more cash before the end of august so its all good in my eyes.

what we want is a team that wins the league and its a question of getting the balance right on player investment while doing everything we possibly can to achieve it.

 

Yes but we have wrote them 2 blank cheques to help pay off their debts from CL money

 

I aint no accountant but with no cl money again, and another squad rebuild could this 5.8 mill debt be 12 million next year and if we dont win the title this year and spend again could it be 18 million the following year.

 

But realistically, I don't think last year's failure to win the league was due to the board being financially incompetent, or to the board members being overpaid.

It was due to a manager who didn't quite pull it off, and players who failed to play to their full potential.

 

Put this into context by taking a poll of every other SPL Chairman and ask them whether they'd be happy posting our results after the investment and changes we've seen over the past 3 months......every one of them would bite your hand off for this figures, especially considering the amount of new players we've signed.

Not one bit worried with those numbers. The debt is sustainable and is not a problem.

 

What are you talking about ffs. Get your facts right.

 

<meta http-equiv="Content-Type" content="text/html; charset=utf-8"><meta name="ProgId" content="Word.Document"><meta name="Generator" content="Microsoft Word 11"><meta name="Originator" content="Microsoft Word 11"><link rel="File-List" href="file:///C:%5CUsers%5CNicola%5CAppData%5CLocal%5CTemp%5Cmsohtml1%5C01%5Cclip_filelist.xml"><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <wunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <wontGrowAutofit/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" LatentStyleCount="156"> </w:LatentStyles> </xml><![endif]--><style> <!-- /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0cm; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} @page Section1 {size:612.0pt 792.0pt; margin:72.0pt 90.0pt 72.0pt 90.0pt; mso-header-margin:36.0pt; mso-footer-margin:36.0pt; mso-paper-source:0;} div.Section1 {page:Section1;} --> </style><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> <![endif]--> Not a big problem really.

What a pity though, just thinking how good a position we could have been in, considering how bad it has been over the last few years.
<o> </o>
<o> </o>

 

I think you'll find they do. Dermot Desmond has put in a lot of money for Celtic. 6 million for Lennoxtown, 5 million for the share issue in the late 90's, never takes his dividend which he is entitled to - his approah to running the club is the right approach. Rangers had an owner who for years ploughed money into their club - look at the effects its had now. Not only that but the vast sums of money we spent at the turn of the century has resulted in us having to reduce debt and have a squad like the one we have now.

Celtic are a PLC - money can't just be handed to the club, shares need to be bought and if Desmond was to buy anymore shares he would, by law, have to buy them all and take full control of our club. This would mean we had only person running the club and no fans would have their say. Also why should he invest money into the team? It's his money and he knows he would never see it again if he put it into the team - he has done the right thing in the oast with investments to help secure our future - he didn't get to be a billionaire by throwing money away.

I think it's pretty unfair of fans, like you, who exclaim he must put money into our club when he already has.

 

Correct. Its a shame the ones who shout their mouths off about the board are so lacking in information.

 

These figures are astoundingly positive when you consider the amount of changes that we've had to go through, the sheer lack of TV money and the loss of Champions League revenue. The level of debt is suistable and the fact that a loss was made is really no big deal as the loss will just be carried forward to offset against future tax liabilities when we go back to making a profit again anyway.

It was stated a few years ago that Celtic is ran to be self-suistable with or without Champions League money as it's something that can never be guranteed, a lot of fans were complaining saying we should spend, spend, spend, these figures prove that the board were correct to take that approach. At times I wish the board had spent a bit more, however, their policy of ensuring we don't have to rely on CL money to ensure our long term survival in a league with a pittance of income is without a doubt the correct route to take.

 

I'm really impressed at how well our club has been run in recent times.