Celtic reveal annual losses

[Jim White 0]

Celtic have revealed a 15 per cent drop in annual turnover and an increase in bank debt of more than £4m.

 

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[rbr 1,266]

Interesting to see if they have finally paid Mowbary off in full or are still paying him

[ian1964 10,761]

Chairman John Reid intimated the team's fortunes under previous manager Tony Mowbray, who departed in March after a 4-0 defeat at St Mirren all but handed Rangers their second successive SPL title, were partly to blame for the financial downturn.

 

Feck of tosser,Rangers were handed nothing,Rangers won the league because we are a better team:):spl:

 

 

"Some pride was then restored from an unbeaten run in the SPL at the end of the season, with Neil Lennon taking temporary charge.

 

Ross County aside he did well in restoring pride:)

[craig 5,199]

Interesting to see if they have finally paid Mowbary off in full or are still paying him

 

I have it on reasonably good authority that the major reason that Celtic took so long in hiring Lennon was because Mowbray was on gardening leave and they were hoping he would find another job in football before Celtic made official the Lennon appointment.

 

Given the timing of their financial results, along with the timing of the Lennon appointment, it would appear that Mowbray has not yet been paid off for being sacked.

 

So along with the money they have spent on new players (admittedly likely that they have broken even thanks to McGeady's departure) they probably still owe Mowbray money too, although it may already be accrued for in their financial statements.

 

Their bank balance isnt nearly as rosy as it recently was.

Edited August 16, 2010 by craig

[Stimpy 0]

I have it on reasonably good authority that the major reason that Celtic took so long in hiring Lennon was because Mowbray was on gardening leave and they were hoping he would find another job in football before Celtic made official the Lennon appointment.

 

Given the timing of their financial results, along with the timing of the Lennon appointment, it would appear that Mowbray has not yet been paid off for being sacked.

 

So along with the money they have spent on new players (admittedly likely that they have broken even thanks to McGeady's departure) they probably still owe Mowbray money too, although it may already be accrued for in their financial statements.

 

Their bank balance isnt nearly as rosy as it recently was.

 

Thought this was common knowledge?

 

They never factor in DD's soft loan either. They owe �£12 million to DD if I recall, a figure most orcs don't disagree with. Their debt won't be far of ours come the end of the season.

[craig 5,199]

Maybe it is common knowledge my man, but being 3500 miles away not all Tim news carries to me

[Stimpy 0]

Maybe it is common knowledge my man, but being 3500 miles away not all Tim news carries to me

 

Lucky you!

 

Although my location and demographics of my adopted city means I don't have much interaction with the orcs:spl:

[rbr 1,266]

Thought this was common knowledge?

 

They never factor in DD's soft loan either. They owe �£12 million to DD if I recall, a figure most orcs don't disagree with. Their debt won't be far of ours come the end of the season.

 

Everyone knows about this figure mate but I have never seen it in print anywhere , dont know if it's another urban myth .

[Tannochsidebear 2,429]

I was expecting much worse from the bheasts if i'm honest, with a debt nearer �£10M.

 

The sale of mcgeady has really helped them out also, and allowed them to bring in the swede and perhaps some more on top of that, but a loss to Utrecht may well apply the brakes, and guarantee only outgoings in January over that way.

 

All the more important we give ourselves a squad capable of fighting on all fronts, and I would be more than happy to give up on the two domestic cups this year, as much as that pains me to say it, to ensure our first 11 are playing only the most necessary games.

[rbr 1,266]

I was expecting much worse from the bheasts if i'm honest, with a debt nearer �£10M.

 

The sale of mcgeady has really helped them out also, and allowed them to bring in the swede and perhaps some more on top of that, but a loss to Utrecht may well apply the brakes, and guarantee only outgoings in January over that way.

 

All the more important we give ourselves a squad capable of fighting on all fronts, and I would be more than happy to give up on the two domestic cups this year, as much as that pains me to say it, to ensure our first 11 are playing only the most necessary games.

 

Last year they recieved just over �£2million euros for failing against Arsenal , this year that is $130,000 euros because it was around earlier , all their transfers will not be included , and though you are correct about wee aidsridden's transfer fee they lose much more % wise as their ground holds more fans .

 

The ticket money they get this season for the Europa league will be the same or simillar as last year and their squad has been swollen by quite a bit as they have a hugh squad .