Celtics financial results are dire.

[Cameron1875]

http://news.bbc.co.uk/sport1/hi/football/teams/c/celtic/8516415.stm (http://news.bbc.co.uk/sport1/hi/football/teams/c/celtic/8516415.stm)

Interim results for the six months to the end of 2009 show a 22.8% decrease in turnover to £36.11m.

Profit before taxation (operating profit) was £1.27 million down from £8.36m in the same period last year, while bank debt has risen to £3.13m from less than £1m.

So corporation tax will need to be imposed on celtic which is 28% of their profit which means the final profit figure is around £900,000.

The results do not include figures from a busy January of transfers at Celtic.

So basically this shows how much they depend on champions league football and a few years without that could seriously damage them financially. Just imagine the effects if rangers dont get champions league football. :thumbsup::bye:

[joe breezy]

http://news.bbc.co.uk/sport1/hi/football/teams/c/celtic/8516415.stm (http://news.bbc.co.uk/sport1/hi/football/teams/c/celtic/8516415.stm)

Interim results for the six months to the end of 2009 show a 22.8% decrease in turnover to £36.11m.

Profit before taxation (operating profit) was £1.27 million down from £8.36m in the same period last year, while bank debt has risen to £3.13m from less than £1m.

So corporation tax will need to be imposed on celtic which is 28% of their profit which means the final profit figure is around £900,000.

The results do not include figures from a busy January of transfers at Celtic.

So basically this shows how much they depend on champions league football and a few years without that could seriously damage them financially. Just imagine the effects if rangers dont get champions league football. :thumbsup::bye:

Great news, that gives us even more incentive to beat them to second spot

[Viva_Palmeiras]

Interesting isn't it.
Celtic endured the biscuit tin years whilst Rangers specultated to accumulate and did (at a cost). Is prudence only within the realms of the Hibees these days?

Its soo long ago now I forget why football clubs got into bed with business - the money wasn't it? But then like a herd of lemmings they blow it all to buy success?

Makes you wonder with all the turmoil whether it will all be worth it.
If a relatively level playing field Globally was possible would football still produce/attract technically gifted, skillful players without the money?

I do wonder where things will end up surely the status quo cannot continue. I saw an article in the telegraph about Pompey's plight and noted the chairman of the EPL has a laisez faire (sp?) attitude to the position - let the free market decide (well just need to look at financial markets to see how things can turn out!). There are only so many sheik mahandis in the world and surely all of them aren't interested in football.

[Cameron1875]

noted the chairman of the EPL has a laisez faire (sp?) attitude to the position - let the free market decide (well just need to look at financial markets to see how things can turn out!).

Apparrently its against fifa's rules for government intervention so controlling the financial market with football clubs and how much they spend etc is not allowed. To be honest i think thats what is needed to sort out the mess that is the EPL but something tells me, chelsea, man city, tottenham etc wouldnt go for that.

[Viva_Palmeiras]

Apparrently its against fifa's rules for government intervention so controlling the financial market with football clubs and how much they spend etc is not allowed. To be honest i think thats what is needed to sort out the mess that is the EPL but something tells me, chelsea, man city, tottenham etc wouldnt go for that.

But regulators should step in where there is a lack of competition in markets no? If football truly is a business (which it is) then same rules should apply no? Anyway apols for the digression from the OP but its gonna be interesting to see how this all pans out. With a few casualties along the way.

[Moody Mulder]

maybe the time has come with both the old firm struggling financially for them both to amalgamate

[Part/Time Supporter]

maybe the time has come with both the old firm struggling financially for them both to amalgamate

You can't realistically expect two teams from a provincial city like Glasgow to compete in Europe nowadays.

:agree:

[banarc7062]

You can't realistically expect two teams from a provincial city like Glasgow to compete in Europe nowadays.

:agree:

Fact of life that big fish eat little fish and in the case of the weegie unwashed they are the little fish of European competitions.

[hibsbollah]

maybe the time has come with both the old firm struggling financially for them both to amalgamate

:faf::top marks

[Keith_M]

How can Celtcs financial results be described as "dire" if they actually made a profit?

:confused:

[GordonR]

How can Celtcs financial results be described as "dire" if they actually made a profit?

:confused:

My thoughts, exactly. Given the current financial state of UK football, for a club the size of Celtic to make any kind of operating profit at all puts them well ahead of a lot of others.

It's the same "Celtic are doomed!" wishful thinking that you see anytime someone posts another "just heard the yams are about to go bust" message.

[Part/Time Supporter]

How can Celtcs financial results be described as "dire" if they actually made a profit?

:confused:

Because they should be making a profit in the first half of the season, as that's when they're earning money from Europe. They'll make a big loss in the second half of the season (same costs, lower revenues). Their finances are still a lot stronger than the Huns though, even if the Huns win the league again.

[Moody Mulder]

My thoughts, exactly. Given the current financial state of UK football, for a club the size of Celtic to make any kind of operating profit at all puts them well ahead of a lot of others.

It's the same "Celtic are doomed!" wishful thinking that you see anytime someone posts another "just heard the yams are about to go bust" message.

it would have been worse if the £2M spent in january transfers were included

[CapitalHibs]

"It certainly reflects different, more difficult trading conditions, and it is plain that like other commercial concerns we are affected by the recession," said chairman Dr John Reid in a club statement.



So what does that mean then??

That you manks cannae pick up any Hibs players for pennies anymore???


OFGTF:bye:

[Moody Mulder]

Soap dodgers finances will only get worse, seems celtic and not desmond dermot are funding keano the saviours £65k per week wages

http://www.eveningtimes.co.uk/sport/peter-lawwell-future-is-bright-at-parkhead-1.1006915

[bornahibby]

If we do get into second spot - and looking at the way Celtic are playing why not? - with another year of no CL they will be right up a smelly creek.

On the other hand our financial position is getting better, especially if we sell Bamba in the Summer (to be replaced by a Yogi gem for a fraction of what we bring in.)

Our position improves + The infirm/sharts/sheep etc positions worsen = the future may be even more green and bright than anyone thought!

[Petrie's Tache]

If we do get into second spot - and looking at the way Celtic are playing why not? - with another year of no CL they will be right up a smelly creek.

On the other hand our financial position is getting better, especially if we sell Bamba in the Summer (to be replaced by a Yogi gem for a fraction of what we bring in.)

Our position improves + The infirm/sharts/sheep etc positions worsen = the future may be even more green and bright than anyone thought!

Not I, for I prophosised it!:wink: