Accounts Show Celtic Fans Saved The Club From Financial Melt-Down Last Season.

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Today Celtic published their accounts from last season, and we made a seven figure loss.

That sounds much worse than it actually is.

We still have a cash surplus in the bank and so we’re not going to be running to directors for loans or anything like that.

Celtic continues to be a self-sustaining, self-funding operation.

In short, Celtic continues to depend, for everything it has, on the goodwill of the supporters.

The announcement of the £11 million in losses came with the traditional statements from all at the top end of the club.

I’ll get to the specifics of some of those later. What stood out is that the fans gave the club their backing in season ticket sales and in a big upturn in merchandising which helped to keep down the size of the losses.

Celtic fans saved the club last season, which is all the more extraordinary when you consider how little gratitude there was for us outside of the usual mealy-mouthed statements.

The board treated us like mugs. They continue to treat us like mugs.

Today’s financial statement was the first direct communication anyone at Parkhead has bothered to have with us since The departure of Dominic McKay. You’d never believe that an organisation which treats its customer base with this level of contempt depends so completely on us. Yet it’s all there in black and white. The numbers don’t lie.

In those numbers was a reminder of how bad it could get if the confidence of the fans is lost; we still posted £20 million more in earnings than we did in Ronny Deila’s last season, where the upper stands were empty on European midweeks and fans were disillusioned.

Our support is labouring under a mighty task right now; to get behind the team whilst trying to ignore the bald fact that this club is run by men who are utterly out of ideas. If this manager fails, then I don’t know that these charlatans have any place left to hide.

They are using Ange as a human shield at the moment.

It should be sobering for them to recall that in Ronny’s second spell our earnings were a mere £60 million; that ought to serve as a warning about what the future will look like unless these people articulate some kind of vision for it.

That vision was nowhere in those statements today. Nowhere.

Celtic fans are the people who fund this whole operation. Even accounting for player sales, we are what keeps the ship afloat.

This board screws with us at its peril.

If we have to take a hit for a year or two to remove these people I think a lot of us would be willing to do exactly that, because what emerges from the other side will be stronger for it.

Today we’ve finally hired a head of sports science, but we are still miles from where we should be on and off the pitch.

The people who put together that financial statement today praise us and insult us at the same time with talk of “drawing a line” under last season rather than doing what any serious and credible organisation would do, which is make the basis for learning lessons for the future and improving in every operational area.

We fans want the best, and this board has shown that it has no idea how to deliver that.

How much longer we tacitly endorse their performances with our money is the question that should be keeping these people awake at night.

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  • Benjamin says:

    A couple comments on the financials that I haven’t seen reported elsewhere:
    (1) the merchandising line was up strongly, but I suspect that also includes the up front income from Adidas and not just the retail sales of the goods themselves. We should be able to confirm that once the annual report comes out either directly or indirectly by looking at the cost of merchandise line relative to the income.
    (2) there was also a £5m income in “Other” with no explanation whatsoever. That has a huge impact mitigating the overall net loss. This is just a hunch, but I suspect it’s a business interruption insurance settlement.

    If this is the kind of result that happens with a new major sponsorship agreement, large insurance settlement, and significant profit from player sales, I can only imagine the carnage other clubs are seeing up and down the country.

  • theinsideman1 says:

    This Celtic board are only interested in making money for them & themselves. They treat the fans as if they are the gentry& the fans are the poir peasants. Shame on the fans for keeping these parasite s in power.

  • Peter cassidy says:

    How much did the greedy #unt liewell take out and his payoff plus pension top up and Desmond dividends? Celtic at present is not being run wright by the so called experts they have now sold off most of our good players who is left to hock they will need our full support now to keep things going so we will need a very good football team challenging for the champions league place they have truly #ucked up big time letting the blue pound being more important than champions leauge you could not makes this complete shambles up thanks liewell and the other so called great business man Desmond two #uckwits.

  • Seppington says:

    “This board screws with us at its peril.”

    Does it? I don’t think so. Not as long as all we do is bump our gums about them on the web whilst continuing to go to games and buy merch. Until there’s a mass boycott of both they are safe as long as the shareholders that expect a dividend still get one. Hitting the club in the pocket is the only thing that will rid us of them and even then Desmond isn’t going anywhere….

    • Ange Baby says:

      Cant see a boycott of ST any time soon.
      Not when theres a waiting list of over 10k.
      Give up the ST and you may have to wait a few years before getting it back again.
      No away tickets without a ST either and basically unless the away tickets system is addressed then you can probably say goodbye to getting an away ticket again for the rest of your life as you will continually be penalised in future for failing to meet the criteria for an away ticket.
      This already happens to many thousands of existing STH

  • SSMPM says:

    There’s issues with the Board no doubt but supporters are called that because they don’t just watch games, they financially support their club of choice. Don’t buy STs or strips, etc, then you’re no longer supporting the club, you’re boycotting them. That will not happen. I will always be a supporter along with many many thousands, the Board know this, we know this so there has to be another way found to prompt change.
    Btw James well done on your stance with the tin hats. HH

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