CELTIC Accounts and finances

Is there any way to get a copy of the celtic Accounts on here and breakdown what each staff member is getting paid.

It appears that some people are getting dramatically more money than they should be getting due to their poor performances in their respective role.

The fans are doing their part and providing the solid funding model to operate the business, but the company directors and senior management are not delivering the results or new working practises that our European contemporaries have implemented, and witnessed significant growth and advances due to their investments.

I would like to analyse and discuss the corporate structure at celtic and why certain individuals are being allowed to consistently fail to build on our position of strength domestically to improve our results in Europe.

Why was Desmond allowed to force the appointment and return of BR, who was totally the wrong candidate to replace Postecoglu and his exciting brand of football? I wanted Knutsen.

Surely there’s a NON EXEC director that can challenge Desmond’s Absent Hegemony of the club and propose new directions in our management, recruitment and player development.

It is now time to properly look at the corporate roles and structures at Celtic and see who is failing and needs replaced by experienced, modern, progressive and qualified candidates that can take this club forward.

 

There are annual and interum accounts published by the club, which are required as a public traded company. They don't disclose every single person's indiviual pay however, as there are privacy protections and legal concerns to come into play there. The below link is the last annual report overview, and from that page you can click a link that shows the detailed figures that were publicly available.

https://www.celticfc.com/news/2023/...-annual-results-for-year-ended-june-30--2023/

The next set of Interum figures (that show the 6 months details from July-Dec 2023) should be published sometime in the next 3-4 weeks, roughly.

 

There's a lot to unpack in a thread like this one, and indeed in the annual report. The most difficult challenge from the perspective of the fan base is that measured by key performance indicators, the board has delivered. It is difficult to criticise the board too much in the context of business operations as they have delivered record success and a record balance sheet. Very hard to square that with watching the evident decline on the field.

In my opinion the priority of the non execs should be challenging the nepotism that exists in our club and tenure of some boards member which is far too long from a good governance. That's a decent place to start.

 

Who are our non exec directors, and why are they NOT challenging the nepotism. Are they just YES MEN or WOMEN?

I take your point that there has been limited sustained success, but we are NOWHERE NEAR challenging our European contemporaries in terms or producing quality players to sell on or mount a serious challenge in Europe. Thats a massive failure, SEVCO are not our rivals, Benfica, Ajax and other middling Euro clubs should be who we are aiming to compete with.

I have recently been visiting family in America, and witnessed first hand the quality of the stadiums and surrounding campuses of the sports grounds is a different level, yes the grounds there are owned by insurance corporations and other organisations but Celtic have not properly developed their campus site to maximise and encourage greater profits. Who is responsible for developing our Infrastructure and guest experience.

Looking closer to home the Murrayfield campus is fully fenced and gated, it’s landscaped and adds to the spectators enjoyment of their day out.

Harlequins ground in south west London, has partnered up with excellent independent caterers to provide an amazing selection of healthy and tasty fast food and Street food stalls and kitchens. Again why can’t we aim for this level of standards and excellence?

I think if we were to look in detail at the figures and compare them with our European and American counterparts, it only further highlights the restricted and average KPI’s that the club lauds in their reports.

 

In my opinion the priority of the non execs should be challenging the nepotism that exists in our club and tenure of some boards member which is far too long from a good governance. That's a decent place to start.

This

 

Exec summary of accounts....

• Funds available £70M - potentially growing to £100M this financial year.
• Net funds to invest in players in 23/24 = minus £5-£10M (ref Jota and other sales)
• Slush fund and bonuses = the rest

 

The problem is that besides Sharon Brown who joined the board in 2016 and comes from a finance background rather than anything football related, we have independent directors who have had tenures of around 20 years. That's just wrong for a company the size of Celtic to have such long standing NEDs. We also have a huge gap in our senior management where most clubs our size would have a director of football type role - someone accountable to the board who comes from a footballing background but isn't the coach.

The reason why tenure on boards is usually limited to 5-7 years is to stop companies becoming stale and to prevent it becoming a sort of old boys network, which is exactly the feeling I get when I look at our board. It also makes it difficult for people to objectively challenge appointments of friends, sons, etc, when you are all friends and have been for 20 years or so. We are structured as if we are a small family business ran by friendly professionals happy to tick along and collect a wage rather than a PLC with 70m in the bank and a growth agenda.

 

https://cdn.celticfc.com/assets/downloads/Celtic_Annual_Report_2023.pdf

Have a read of that.
Look at the experience of our Directors
All non-football people. Mainly all finance backgrounds

We are very similar to Manchester United. Huge club and success. Since the Glazers (non football people) came in. The club has fallen to bits
Despite many managers. Top managers
The club got worse and worse. Throwing money away on terrible players

what’s the first thing these new investors have done since they have come in
First priority build a football board starting with Dan Ashworth. Even though he may cost them 10 million they understand the first priority, an experienced football person

At the moment you can see how the conversations go in terms of signing a player

The manager says I want this guy. Just what we need. Experienced perfect I want him

The board.(finance people) Well let’s work out re sale value, age, what if we don’t qualify for the champions league
No to risky can’t have him. Regardless of the football side

The board run us as a buisness
As soon as they answered - we are keeping the money in case we don’t qualify for the Champions League.
That was it, we were done from that point.

It has always been the case. The board simply does not want to create a gap between us and Rangers.
We could spend money and almost guarantee domestic success. But it still probably won’t be enough to make a dent in Europe.
They think if we go too far ahead of Rangers, it will get boring - a drop in interest, ticket sales, etc.

So their philosophy is, why spend money, downsize the team, and create competition. We will lap it up and forget Europe.

It’s totally disgusting. It makes it almost pointless following the team, knowing that the board will always keep this ceiling.

We have to create change.

 

Why aren't the interims out yet. What are they trying to hide or deflect from!

 

We are use to huns trying to sneak out or bury their * financial reports over the years but we are doing it with potential record accounts.

Why? Bcoz even they daft old * now realise how awful it looks having £100m in the bank and absolute * dross on the park

They know they are gonna get hung out to dry when these comes out

 

And so they should..

Inexcusable what they've sat back and allowed to happen..

The * gonna seriously hit the fan in my opinion amongst the support and I think it'll be much worse than the covid season when it does..

 

* YIR ACCOUNTS!

Ya rat Tory *.

 

The lack of investment within the first team has crippled us, but the lack of accountability for, and the refusal to set up a monetary compensation scheme for the clubs’ child abuse survivors will be this boards’ legacy.

“But the club have been consulting with lawyers for many years”

That’s great. Anycunt that comes out with this nonsense should hang their head in * shame.

The first thought that comes to my mind when * like Lawwell and Nicholson brag about having £70mil in the bank, is the poor * in their 60s still fighting on for a bit of justice for what happened in their adolescence.

Should have been dealt with head on, decades ago. It’s one of many, many failings of this board, but by far the most damaging.

* them. They don’t represent me, or any decent Celtic supporter.

 

Agreed full heartedly.

Is there anything in this year's accounts you are particularly referring to?

 

Best funded 2nd place team in scotland.

 

And with handing sevco nearly £60 million we will be 2nd in the next few years as the zombie board will spend the money if they win the league and heads need to roll at board room level or it's * protests every home game .

 

Thing is John celtic fans in the majority have been conditioned to accept the rainy day scenario. The incase we don't.

This season was most likely the final year where you had guaranteed UCL cash and an increase in it at that. Huns will get the dosh and probably go and spend £40m of it and it won't be squad players it will be the ones we have been crying out for.

While in the summer we will scramble around selling key players and weaken the squad preparing for the Europa League cause we won't win in the UCL qualifiers.

I said it was sabotage months ago to get the duopoly going and was called allsorts.

 

This.

All day this.

When this case gets "settled", the board will declare it like some sort of moral victory, and a convenient excuse for their financial neglect of footballing matters, they need called out and humiliated by every fan in the stands.

I totally understand why people are reluctant to openly address the issue on boards and forums, as it becomes screenshot fodder for the lunatics across the street who disguise their bigotry as "justice". But if this issue is indeed the reason our transfer dealings have been a joke for over a decade, then it has absolutely crippled us in terms of development as football club.

And there's no one to blame but Desmond and his board.

Get them to * OUT.

 

Having lots of money stock piled, whilst things are a mess of the park, the team has oversaw a 10pt turn around (negatively), whilst foisting players from an ego maniacs son on to a lack lustre manager isn't probably the success fans want to give a * about right now.

Money galore, but a mess everywhere else but at the bank.

It's on the board. Ange was the anamoly. We through faith, believed a corner had been turned. Yet we're back in this malaise of accountants running things and not football people.

 

It makes it almost pointless following the team, knowing that the board will always keep this ceiling.
Spot on

We have to create change.
Absolutely