Celtic PLC Finances
Mahe following on from your excellent article on Wednesday 25th June 2020, and with great respect I actually think the financial situation at Celtic is even worse than you stated, and will have an even greater impact on the Club.
Here are the reasons why :
The figure I quoted before of £750 Million in a previous article was an estimate based on the amount given to the Club by supporters since the formation of the PLC.
It wasn’t based on last 10 years.
The importance of this is that supporters didn’t give as much as £75 million last year, which means the gap or the difference the PLC will need to fund will be much higher.
I have listed below the Celtic PLC accounts figures to 30th June 2019, with a Turnover of £83.4M.
As the figures are not more detailed, I would estimate about £42 Million (50%) from Supporters was given to the Club in season 2018/19.
I would estimate Season Tickets at £25M, European Tickets at £5M, Merchandise at £12M, which would give a total of £42M.
I have only estimated £25M out of the £43M for the Football & Stadium Operations figure, and estimated £12M out of the £18M for Merchandising. I haven’t included Multi media, or the Home Cup Ticket scheme. It could well be the case that the figure is nearer £50 Million.
Whether it’s about £42M or nearer £50M out of a Turnover of £83.4M, it is absolutely staggering to think that Supporters will still only get about 10% voting share, for the annual ongoing level of Financial and Physical support given to the Club.
I really do believe the PLC ownership model is Morally and Financially Unfair and Unjust, and will have to change.
Celtic PLC accounts to 30th June 2019 is as follows :
Turnover : £83.4 Million (2018 : £101.6 M)
Costs …… : £86.9 Million (2018 : £ 87.1 )
The Group’s revenue / turnover comprised :
Football and Stadium Operations : £43.25M (2018 : £43.59M)
Merchandising …………………………. : £18.08M (2018 : £17.71M)
Multimedia & Other Commercial : £22.08M (2018 : £40.27M)
Total…….…………………………………… : £83.41M (2018 : £101.57M)
There is likely to be massive financial changes ahead, and not in a good way.
It will be crucial for the club to get financial support from the major PLC shareholders.
If not debt will have be added, or more players sold, with fewer new players, and with the risk of less success on the park.
It would be astonishing if the PLC expected Supporters to contribute even more.
It’s incredibly important that we Qualify for the Champions League Group Stages this year.
This is particularly crucial financially for the Club this season, as is obviously winning 10 IN A ROW from a historical football point of view.
The number of Season Ticket Holders for the new season is crucial.
The need for Champions League Group Qualification is crucial.
The buying of the new Adidas Celtic Top directly online from Celtic is crucial.
The importance of managing our playing squad in terms of number and quality of players is crucial.
The importance of not having a second wave of Covid 19 is crucial.
The need for a vaccine for ongoing financial planning is crucial.
The importance of Winning 10 IN A ROW is crucial.
The need for better dialogue with Supporters is crucial.
Finally, the importance of change from a PLC to a Membership Ownership Funded Celtic Football Club is also crucial.
Celtic will continue to survive, but at what level, could well be decided by what future Ownership Model we have.
Hopefully the future will be kind to Celtic, and also kind to each and everyone of us.
Wherever you are in the world, stay safe and stay well everyone.
The above is by Celtic1member1vote