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* The Generic Laugh at celtc Thread *

dummiesoot

By dummiesoot,
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Marky.

MattyBlue

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My dog does when it goes out for some aggro.

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Trooblue

Trooblue 1,751

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I mentioned in another thread.. just seen one of them on facebook saying that as a seeded team, they should have played away first. Malmo clearly had an unfair advantage :lol:

This will be a key part of the document Peter submits to UEFA before the end of the week. We must have sporting integrity.

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CraigG

CraigG 56

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It s not an advantage to play away first anyway. Much better to build up a lead at home and then put pressure on the opposition to overcome it at the away tie. Does that smelshit dickhead think they would hace won if the ties had been reversed?

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showtime69

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saw a video on twitter last night of Sutton talking shite about them not spending big and Darrell Currie saying that Malmo didnt either, Sutton then goes on to babble pish while realising Currie has made him look a right cunt haha

cant seem to find it anywhere to post it

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Helicopter Sundae

Helicopter Sundae 4,989

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It’s time to talk about Celtic…..

Rangers fans have always had a tendency to worry about our own club’s business and have a wry smile at fans of smaller Scottish clubs who’s envy is clear from their inability to stop discussing our club.

Over the last few years social media has increased the voice of what appears to be a fairly large group of Celtic supporters who have a fanatical interest in Rangers. This crowd had great fun over the last few years with Rangers insolvency and various near death experiences. Now the club has stabilised financially these individuals have become increasingly desperate to find “exciting” negative Rangers stories to discuss and have been left to scrape the barrel with some hilariously obscure topics. My personal favourites have been “show us your nomad”, “who will Rangers choose as an accountant” and “can Dave King really fit that much wine in his cellar”. Infamously one prominent Celtic supporting social media account “John James” came up with the glorious conspiracy theory that one of Paul Murray’s former employers Deutsche Bank was actually a failing garden centre.

All of this has of course been great fun for Rangers fans who are generally enjoying life just now with the team playing some great football, a rights issue which will ensure financial security for years to come just round the corner and full houses at Ibrox every week. For Celtic fans though this focus on affairs across the city has had a more serious consequence than just making them the butt of a few jokes, they have left their own board free reign to sleepwalk into a financial crisis.

Given as of next season Celtic are going to be Rangers main title challengers and very much of relevance to us again I’m going to do something very “unstaunch” and arguably “un-Rangers” like and lay out in some detail the crisis faced by Celtic.

Celtic’s last published accounts to end of June 2014 had a nice gloss to them £11 million profit, £6 million overdraft in place to help with the cash-flow problems commonly faced by football clubs. Dive a bit deeper and things get interesting, these accounts included around 35 million of income from the sale of several key players such as Wanyama & Hooper topping up their substantial Champions League revenues. In the accounts soon to be released revenue from player sales is massively reduced and of course Champions League Revenue is a distant memory. It’s too simplistic to say that Celtic have a £24 million deficit in their accounts without Champions League or player sales, Celtic have reduced their wage bill year on year since Rangers were demoted, costs are being cut in all areas of the club. There is still a massive structural problem there though. it’s fair to assume that the losses in the last year are enough to have eaten through the vast majority of that £6 million overdraft, even if cost cutting has had an impact it won’t happen overnight so they are probably looking at a structural annual deficit of £20 million.

These figures are documented and available to anyone who has a spare 10 minutes to read the director’s summary on any of the last few year’s Celtic accounts yet with the focus on Rangers have attracted little attention. Last night changed that, Celtic are faced with no Champions League money and despite their relentless efforts to promote Virgil Van Dyke no £10 million player available to sell and plug the gap. More worryingly still with last year’s losses almost certainly putting them in the red there is no longer an unused revolving credit facility remaining.

Another iceberg on the horizon is the £14 million of secured loans Celtic owe to the Co-op, these need to be repaid in full by 2019, given the new cautious lending criteria adopted by the Co-op group there is more chance of Celtic winning the Europa League than there is of them being granted an extension. My guess is their best hope if they can’t get the cash together would be a debt for equity swap but the terms would be onerous and would change the shareholder dynamic of the club forever.

So what happens now? To me Celtic have 3 options, austerity of a level never before seen at a Scottish club with the aim of reducing costs by at least £15 million over the next year, a share issue which will give them some breathing space with cost cutting being possible over a longer period or perhaps the most controversial but certainly the most pragmatic approach of entering administration, shedding some of the Co-Op debt and slashing costs. None of these options will be overly palatable for Celtic fans but for the sake of Scottish football I sincerely hope Dermot Desmond will put his hand in his pocket and underwrite the share issue option. Lowering of standards helps nobody, I want the new controlling Rangers shareholders to be tested and invest as much as they can to get us back to the top, a Celtic collapse would allow us to do it on the cheap but won’t help us long term.

I’ve addressed in this blog some issues which the media haven’t touched as yet, that will all change upon the release of Celtic’s next accounts with the “elephant in the room” of Celtic’s structural deficit being impossible to ignore. My understanding is that certain favoured journalists have been briefed by Peter Lawell that 6 first team players are being marketed to clubs down south and stories talking up EPL club’s interest in these player’s would be welcomed. This is a commonly used Celtic PR strategy to try and inflate the value of their players and it will go into overdrive for the next few days. In the lead up to the club’s accounts being released the Celtic board are also briefing journalists that season ticket sales have hit their lowest level since they moved to the new stadium at around the 30k mark. This will be discussed more openly in some media outlets as they try to scare fans into renewing.

If I was a pretend journalist I would end this blog by saying I’ve submitted a list of daft questions to Celtic’s PR department, I haven’t because frankly I don’t care enough but as a gift to my many Celtic supporting followers here are a few you should be asking:

How can Peter Lawell justify taking a 7 figure salary when we have a structural deficit of £20 million and the board of our main rivals work for free?

What are the plans to tackle the structural deficit?

Are the club looking to sell Lennoxtown to repay the secured loans?

As the club appear to be trading insolvently have they explored the option of pre-packed administration?

Regardless of the answer to these questions what is clear is that there are now two loss making clubs in Glasgow with no access to credit, Rangers existing shareholders have stepped up and pledged to fill our deficit, will the main men at Celtic have the money and desire to do the same?

Developing story. ;)

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