Celtic plc Interim Report

I think you could raise that a level and include the full football operation of the club has no serious people running it.

A good example see that Head of Academy post advertised recently your reporting line was to head of commercial. What would a commercial director know about running a football academy?

Why would keeping an eye on that other than for opportunities for sponsorship or generating cash be part of a commercial directors role?

It goes by the point above there is no clear structure that points us in the direction of a strategy to grow the club beyond being in a two horse race in Scotland and getting to at least Europa League group stages.

We all like to laugh at them and they have been a basket case but at least their current chairman, CEO and Manager seem on the same page and are trying all avenues to put the best team they can on the pitch.

 

Absolute mental I would t be against the plc being offshore to dodge that 25 per cent also g as the money was put back on the park


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Must have paid a record amount of corporation tax for a football club compared to any other club in the country


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it was a swift u turn from we need to keep money incase we dont get into the champions league to we aint hoarding cash/raging we didnt sign anyone .you couldnt believe a word the * say

 

It's the fact that they're going to give away £60m in CL revenue is the totally mad thing. Think of what the club could do with £60m..but nope...we don't care about that...it's so unbusiness like, it's laughable.

 

But why just look in England? What about every other league across the world? Why wasn't a list of targets drawn up after summer...it's * hour.

 

Think their argument is of the biggest spenders ain’t spending or selling then no one is


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And let’s not kid ourselves the ffp and profit sustainability rules that hit England have come in place from pressure of government to keep all that tv money that’s getting thrown at them to stay in the country


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Just to say I am by no means an accountant so someone who was could easily explain the situation as to why there is £67m and not nearer £90m.

At a high level my layman’s understanding of it is we have tried to show a very realistic picture of how much cash we have rather than the skewed point in time view we would typically get. Basically in the cash flow statement on page 9 is where this is explained.

We made an anticipated after tax profit of £22.6m over these 6 months this takes into account football operations and matchday operations, multimedia and commercial and merchandise. Basically this accounts for all our revenue from ticket sales, clothing and other item sales, tv deals, Euro comp income etc and all our expenses in terms of wages, hosting games, buying the merchandise and food to sell etc.

It doesn’t include depreciation of physical assets, player contract amortisation, profit on player sales, finance costs and income tax due. When you take all those figures that £22.6m profit adds up to £33.2m.

But from that £33.2m, £28.6m of that is deferred income, largely people having paid for season books but are yet to receive the benefit of the full number of home matches. So they have taken that off and that leaves us at £4.6m.

They have then added £5m based on decrease in receivables which would suggest that is money we were due from somewhere being paid to us. So that means form our operating activities once we have accounted for everything we are due and have accounted for everything we owe except for player trading which includes buying, selling players and add ons to be paid or received and we seem to have also include money for bumping up contracts whether that’s been bonuses paid I don’t know exactly as the level of detail isn’t there. It also includes our anticipated tax bill of £7m+ and money spent on infrastructure.

The outcome is a £9.4m increase so at that point our £72.3m cash at bank had grown to £81.7m

However, once you take into account player trading and investment on plant and equipment which includes the spend of £23.3m on players/ new contracts, the £1.5m spent on plant and equipment and the £12.5m brought in from player sales/ add ons, (This is all in the cash flow statement page 9). So that total is roughly -£12.4m.

So that takes the £81.7m down to £69.3m.

Next they have actually paid tax £2.8m and received interest of £1.6m on the cash pile so nets out at -£1.2m.

So take that off your £69.3m and your left with £68.1m

And lastly there is a finance charge for leasing and dividend paid on a certain class of shares -£0.8m, which lands you at the position of having £67.3m left in the bank.

As said above we have basically tried to account for everything in that cash flow statement including fulfilling our home games, paying tax due etc. So the only things that will change that largely before the 30th of June would be:

- player sales or purchases
- we will make an OPEX loss for the second half of the season as our costs tend to be linear so will be about double the £53m where as our revenue will probably only go up by based on last year it was about 50% of the first half of the season. So say £40m for an easy number meaning we make a £13m OPEX loss for that period meaning our OPEX pre tax profit will be about £17m and tax liability on profits will reduce a bit.

- lastly will be the investment in Barrowfield and when/ how we pay for that.

 

Never realised the interest made on the money is not far off what we get for winning the league in terms of spl prize money mental.

 

They'll still pop jokes at the Huns as well.

When, unfortunately, if they get that windfall, they'll use it to clear their feet, then invest a large chunk of it in to the squad and push on.

What's their annual shirt fall, 10-15m? They'll clear that and have all their soft loans repaid to their pals.
Then they'll splash 30-40m on player sales. 5 or 6 decent level players.

Bagging the next year's European money and that will be them solving their money issues and on the front foot.

But "lol penalty rangers"
Eh, Peter, eh

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Good thread

 

I think finding out availability should be part of the full process for a club like us. We can’t brute force transfers through in general, leak stories unsettle make a bid too high to be knocked back and act like Real Madrid and the like do.

So when we’re scouting these guys, find out the availability BEFORE the window opens. If we get stonewalled, then we find another target. We should have all this lined up for first week January, because by then we have 4 months or so to insure it.

Some available guys who are interested with other options will want to wait a bit, see whats there for them, but even at that… we need to put a time limit and a decision to be made on that. If they don’t want to commit after that, then move on.

This window I imagine we’ve spent 4 weeks chasing the same unavailable players. Not even going as far to negotiate with the player because the clubs saying absolutely not, like we did with Atletico Madrid and O’Riley

 

We’re a complete * show.

Managed woefully by a lawyer and a risk averse accountant, with not one * in the building with the slightest clue on how to run a successful footballing operation.

 

Is CL money from this year included in this btw?

 

Majority of it mate ticket money, will get the final payments from uefa in may

 

The board talk about January, no one available and hoarding cash etc.
This is not January or 2024 problem.
The already rotten structure moved from poor to negligence just before Rodgers left and we were offering managers jobs in showers at half time.
It's been downhill ever since (despite Ange) and we've not even reached the bottom yet.

 

TV money paid out after the group stage? I always thought it was after it finished end of the season?

 

Another thing that just doesn't make sense with us.

We had since summer (and before) to figure this out. As you say, we should have known who was available and able to sign long before the window opened.

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Is that CR SMITHS windows ????