Celtic banter 40395

 

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17 Aug 2018 21:31:46
Hey lads I never knew we had a 55 million pound a year wage bill at Celtic, it must be true just read it on the Sevie page😂😂. 55 million that's equivalent to 55 employees on 20 grand a week😂 Our ballboys must be on a grand a week and the paradise windfall ticket sellers on 100 grand a season😂.

{Ed007's Note - Our wage bill according to the last accounts (2016-17) was £52.2 million - that's 58% of our turnover, down from 71% in 2016 when our wage bill was sitting at £36.9 million.
You have to remember the wage bill covers ALL players at and ALL employees throughout the Club (or company?) from Pedro, the manager, his staff, players, Gerry ******* McCulloch, all the way down to shop staff and office staff, part-time employees the lot.
If you listen to all the doom-mongers and their talk of our financial meltdown, even among Celtic fans and bloggers, what they're saying basically is that we're in the same position as Rangers were when Craig Whyte needed McCoist to qualify for the CL to pay the bills - now does anyone actually believe that?
With season ticket money, annual money from sponsors etc (including the new Dafabet deal) on top of what's been banked the last couple of years the lose of CL revenue is a sore one - not as sore as they way we went out - but it's hardly the financial disaster some are saying.
I was speaking to my "Square Mile Guy" yesterday and Celtic's shares had risen to a yearly high of £1.37 on Thursday's market, the day after we were eliminated from the CL, that's a better sign of our financial well being than anything you'll read on the internet - and that probably includes what I've said 😁

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17 Aug 2018 23:03:32
I find it staggering and quite unbelievable that our wage bill is anywhere near 52 million, not that I'm doubting your post ed. That's a million pound a week, we have a 33 player first team squad, now this is very rough figures, just say their average wage is 10k a week roughly 500,000 a year, that's 16.5 million on highly paid players. Brendan and his staff let's give them 5 million, that's 21.5 million. That leaves 31 million that's roughly 800 x 40 grand a year wages. Where's the 800 40 grand a year employees. Mind you I've no included Pedro, Bankier etc in my sums they"ll have a big chunk of the missing millions🤣.

{Ed007's Note - There's no missing millions lol it's all there in the accounts. How many admin and office staff is there, media/social media staff, technical staff, CelticTV staff and PR, shop staff, ticket office ajd Celtic Pools staff, stewards and kiosk workers, coaches at all levels, Lee Congerton the academy and scouting staff, canteen workers and groundstaff at Lennoxtown, maintenance staff, catering & hospitality and groundstaff at Celtic Park... it goes on and on....
Obviously some of those jobs overlap and there'll be jobs I missed - John Clark and his team - but there's a lot of people involved in keeping us at the top of Scottish football.
Not me though - I'm skinto!

17 Aug 2018 23:25:36
That is right Ed, your "square mile guy" is s spot on (Y)

Celtic had the BIGGEST profit margin EVER last year if memory serves me right

Adjustments will be made accordingly having not gained entry and given as you indicate what is already been brought in am confident we will produce a profit come December unlike some other Glasgow clubs

After yesterday's TOP panel suspension a certain chairman has called an AGM for the 31st of the month despite the law being for a PLC to give a minimum of THREE weeks notice CLEARLY counting is not there strong point! Someone is trying to get something "passed" before the next court gathering IMO (Y)

{Ed007's Note - Cheers, Jamie, I knew the post would catch your attention and you could add some clarity. My "Square Mile Guy' is still raging he never took up our Tena tip off lol

18 Aug 2018 00:23:39
Oh f##k Jamies on the scene, this is going to get all high brow and technical now . That's me out 😫🤣.

18 Aug 2018 10:19:19
With our increased fixed costs being so high you would think more effort, or indeed any effort, would be taken to ensure we had a fighting chance to securing CL money.

Still nothing. That’s total incompetence wrapped up in mind blowing complacency. It beggars belief. Just think what another £60m+ would have done to our bottom line.

All gone, and that is shameful.

The soon to be liquidated Rangers don’t seem to be having a problem improving them with allegedly no money. They have improved their defence. We still don’t have one. And will probably take on Sudova with the same Keystone cop backline.

When push comes to shove our board bottle it and prefer to hope everything will be ok. In any other business heads would roll for such financial mismanagement. That’s just a fact. In our case our CEO will still trouser £1m bonus. Being rewarded for incompetence is a scandal. He should resign. He won’t but he should.

18 Aug 2018 10:59:39
Is BR not on 3 million a year himself anyways would be interesting to know the annual first team squad salary.

18 Aug 2018 11:01:47
Jamie if you look at last years accounts as published Sept 17, and remove say £25mill turnover from participation in CL, allow for increase in players wages, allowing for disposal of intangible assetts, amortisation of Eddys £9mill over 4 years, i can't see how we show a profit at all. What am I missing? Wages will be 70% of turnover. Is there some disposals I have missed making up the shortfall in revenue?

18 Aug 2018 12:28:01
Hi Johnny, In very rough terms the VVD money ( sell on ) has as well as Eric has cleared the purchase of OE . You have the Armstrong money. Cifti, Armstrong among a number of reserves have been taken of the wage bill.

We usually SPEND £5-6 million on players that has not been spent yet and you done have the matchday COSTS and ALSO Bonus monies attached to that. So at this moment in time outwith the new deal have plenty of coverage. In all probability they have not spent having had the outlet for OE to see if we qualify as a fan am exasperated at the next. Will we have a run in the EL? Will Boyata leave other income streams.

But for the avoidance of doubt I expect to spend money within our means and balance the books the year before we only made circa £600k profit but it's still a profit. We could easily cope with a small operating loss (Y)

18 Aug 2018 17:34:35
Jamie revenue will be about £70 mill tops if we get a Europa run. Fixed costs will wipe that out. can't reduce them unless we sell. Impossible to make a profit.

18 Aug 2018 20:06:43
Let's wait and see Johnny, Bonuses attached to CL will be massive

Am not overtly worried about it with the £30 mill plus in the bank we are well stocked to suggest we would have a big operating deficit would be folly IMO (Y)

19 Aug 2018 00:06:14
Yes, that's the difference, superally, had to get the old Rangers into the champions league to keep their heads above the water, failure to do so, meant misery as Mr Pickwick said, failure for Celtic, this year, means there will be a dent in their profits and their pride, it doesn't mean they will cease to exist, as happened to the old Rangers.

19 Aug 2018 00:45:06
Ainfoh we have a £30mill cash surplus, however the reason PL is not allowing BR to buy is because our costs have increased by £20mill from 2016 till now. that's £20mill in 2 years. that's a lot.







 

 

 
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