12 Jul 2024 12:21:51
Lawwell may have been replaced as CEO but his transfer strategy, transfer policy and wage structure seems to still. be in place.
12 Jul 2024 13:36:25
What evidence do you have of that? ?.
12 Jul 2024 14:24:26
Ken, don't rise to the bait. ?.
12 Jul 2024 14:45:06
Joe, there is no doubt that Lawwell has been replaced as CEO .
But Lawell never had a transfer strategy nor transfer policy or wage policy . The Celtic Board has always been responsible for Budget policy, strategy and wage structure. . There is absolutely no reason why Board should change their budget or any part of their budget policy because there is a new CEO .
Continuation is the Celtic Board’s policy.
12 Jul 2024 15:31:00
I disagree des. Celtic's revenue has increased by around 25% and that is before we factor in player sales.
Therefore, there is plenty of scope to increase budget policy, strategy and wage structure without endangering our "continuation". As things stand out wages sit around 21-22 million, which is less than 20% of our current turnover. This is a paltry percentage compared to every top club in their respective country. Not only that we have around 30 million left over from last season.
12 Jul 2024 17:11:36
Joe, I don’t think u have any reason to disagree with me . We don’t know what Celtic ‘s budget was in 2022/ 2023 or 2023/ 24 or 2024/ 25 . We don’t know what formula Celtic use to decide their transfer budget, nor do I suspect do the fans of any major Club fans know their club’s budgetary arrangements.
Overall our fans have many demands as to how the club should spend money. We had a fan last week who was ashamed of dressing rooms, others ashamed of club shop, , Broadband in stadium . We need to spend money on so many things that our club needs to be careful adhering to all its budgets, so that we move the whole club foreword as a modern club with not only a good team but good facilities for players and fans.
12 Jul 2024 17:25:41
We may not know the formula but we can get the actual total amounts from the annual accounts.
For example we can see how much we spend on wages and we can see our total income. Using both these figures we can calculate the wage to revenue ratio. For the last year ours was below 20%. This is ridiculously low and there is massive scope to increase that.
{Ed007's Note - According to Swiss Ramble Celtic's Wages to Turnover Ratio in the last accounts was 51%, down from 67% the previous year.
With the wage bill rising in the same period the 16% drop looks to me like it was down to the higher income we had.}
12 Jul 2024 18:09:59
If you look at our last set of accounts our wages were £22,119,240 and our revenue was £119,900,000. I urge you to go check for yourself.
When you calculate the ratio = (22119240 / 119900000) x 100%
You get a wage to revenue ratio of 18.44% (rounded to 2 decimal places) .
Using the figure you quoted Ed, our wages would be calculated thus:
119900000 x 0.51 = £61,149,000
That means there is an extra £39,029,760 being spent on non-player wages? That is nearly double of what is paid for players wages.
{Ed007's Note - Where did you get the £22m wage bill from?}
12 Jul 2024 18:18:36
Cl money will take a drastic hit now.
12 Jul 2024 19:48:25
@ed I got the figures from our annual accounts for the year ending June 2023. This is the most upto date annual accounts as 2024 is not out yet.
{Ed007's Note - On P.32 of the 2023 Annual Report which you can read HERE the Staff Costs are listed at £60,884,000 (up from £58,883,000 the previous year.
You can read The Swiss Ramble's breakdown of those figures HERE where the wages to turnover figures I quoted are.}
12 Jul 2024 19:51:17
@ed I should have said that is playing staff wages.
{Ed007's Note - What page is that listed on? I'm not being facetious Joe but I've never seen the wage bill broken down like that in the accounts.}