{"id":7874,"date":"2015-10-06T10:59:41","date_gmt":"2015-10-06T09:59:41","guid":{"rendered":"http:\/\/etims.net\/?p=7874"},"modified":"2015-10-06T10:59:41","modified_gmt":"2015-10-06T09:59:41","slug":"financial-matters-laid-bare","status":"publish","type":"post","link":"https:\/\/etims.net\/?p=7874","title":{"rendered":"Financial Matters Laid Bare"},"content":{"rendered":"

Charlie Saiz has recovered from bleeding eyes, incurred whilst researching money matters, \u00a0and sends us this\u00a0<\/em><\/p>\n

Celtic Fc Financial Matters 1999-2005<\/h3>\n
\n

Pre Martin O’Neill
\nhttp:\/\/www.thecelticwiki.com\/page\/Celtic+Financials+-+Annual+Report+1999<\/a><\/p>\n

Year 1999 Summary:
\nTurnover – \u00a333.84m
\nOperating Expenses -\u00a327.086m
\nPre Tax Profit (loss)- \u00a36.754m
\nProfit(loss)After Tax-\u00a31.013m
\nNet (debt)\/funds at 1 July-\u00a3(2.169m)<\/p>\n

Martin O’Neil Era Begins:
\nhttp:\/\/www.thecelticwiki.com\/page\/Celtic+Financials+-+Annual+Report+2000<\/a><\/p>\n

Year 2000 Summary:
\nTurnover increased by 14% to -\u00a338.58m
\nOperating Profit -\u00a34.68m
\nOperating Profit(loss) After Tax -\u00a3(5.98m)
\nOperating Costs up by 25.2% to -\u00a333.90m (Due to increase in wages)<\/p>\n

“At 30 June 2000, the Company’s net debt was \u00a314.5m which was well within the unsecured bank facility agreed in May 2000 comprising of overdraft of \u00a310.5m together with term loans of \u00a321m, of which \u00a36.4m is repayable in equal quarterly instalments from October 2009 until April 2019 and \u00a314.6m is repayable in July 2019.”<\/p>\n

*This is the start of the serious borrowing at the Club.<\/p>\n

2001 Results (taken from the 2003 5 year report)
\nhttp:\/\/wikifoundryattachments.com\/BeYA43ScSFJeN%24Lm6y%2B6Fg%3D%3D286171<\/a><\/p>\n

Year 2001:
\nTurnover -\u00a342,007 m
\nOperating Expenses-\u00a3? (In the \u00a341m Region)
\nProfit from Operations-\u00a3871k
\nProfit (loss)After Tax-\u00a3 (8,123m)<\/p>\n

Year 2002:
\nTurnover -\u00a356,892m
\nOperating Expenses-\u00a351,522m
\nProfit from Operations-\u00a35,370m
\nProfit(loss) After Tax-\u00a3(3,039m)<\/p>\n

NET DEBT as of 1st July 2002 -\u00a329,625m<\/p>\n

Year 2003:
\nTurnover -\u00a360,569m
\nOperating Expenses-\u00a353,839m
\nProfit from Operations-\u00a36,730m
\nProfit(loss) After Tax-\u00a3(11,659m)<\/p>\n

NET DEBT as of 1st July 2003-\u00a316,473m
\n(This was the year of the share Issue so Debt has been halved.)<\/p>\n

NOTES TO THE FINANCIAL STATEMENTS (Page 30)
\nYEAR ENDED 30 JUNE 2003
\n>>>Total operating expenses 2003-\u00a365,043m 2002-\u00a360,336m <<<<<\/p>\n

“Loans repayable by instalments include bank loans of \u00a318.00m (2002: \u00a316.00m). These loans bear interest at
\nLondon Inter-Bank Offered Rate plus 1.125%. These loans form part of a \u00a324.00m loan facility which is repayable
\nin equal quarterly instalments from October 2009 until April 2019 and \u00a316.69m is repayable in July 2019. The
\nCompany has the option to repay the loans earlier than these dates without penalty. The bank loans are secured over
\nCeltic Park. ”<\/p>\n

2004 Annual Report
\nhttp:\/\/wikifoundryattachments.com\/VjnQiWMllPK5XY68%24jLttQ%3D%3D1675389<\/a><\/p>\n

2004 Summary:
\nTurnover- \u00a369,020m
\nOperating Costs-\u00a364,150m
\nProfit \u00a34,870
\nProfit(loss)After Tax \u00a3(7.471m)
\nNet Debt 1st July \u00a317,782m<\/p>\n

“Loans repayable by instalments include bank loans of \u00a316.00m (2003: \u00a318.00m). These loans bear interest at London
\nInter-Bank Offered Rate plus 1.125%. These loans form part of a \u00a324.00m loan facility which is repayable in equal quarterly
\ninstalments from October 2009 until April 2019 and \u00a316.69m is repayable in July 2019. The Group has the option to repay the
\nloans earlier than these dates without penalty. The bank loans are secured over Celtic Park.”<\/p>\n

So in effect we now owed the Co-op \u00a324m at this point after raising a share Issue this model is becoming unsustainable it would appear.<\/p>\n

Peter Lawwell joins the Club:
\n2004 Peter Lawwell (appointed) Wage
\nSalary \u00a3102,884
\nBonus \u00a338,582
\nBenefits \u00a39,063
\nPension \u00a315,432
\nTotal \u00a3165,961<\/p>\n

Martin O’Neills Final Season 2005
\n2005 Annual Report (cant find 2005 so using figures supplied in this Report 2006)<\/p>\n

http:\/\/wikifoundryattachments.com\/sy8S1b0VBIedxsj7B9c1AQ%3D%3D2027073<\/a><\/p>\n

2005 Summary:
\nTurnover 2005 \u00a362.17m
\nOperating Costs \u00a358.07m
\nProfit (Loss)After Tax \u00a38,706m
\nNet Debt-\u00a319.5m<\/p>\n

“Loans repayable by instalments include bank loans of \u00a312.00m (2005: \u00a319.50m). These loans bear interest at London Inter-Bank Offered
\nRate plus 1.125%. These loans form part of a \u00a324.00m loan facility which is repayable in equal quarterly instalments from October 2009
\nuntil April 2019 and \u00a316.69m is repayable in July 2019. The Group has the option to repay the loans earlier than these dates without
\npenalty. The bank loans are secured over Celtic Park and land at Lennoxtown.”<\/p>\n

Skip forward to 2014:<\/p>\n

Turnover-\u00a364.74m
\nOperating Expenses-\u00a359.89m
\nProfit before tax \u00a311.17m
\nYear end net cash at bank \u00a33.83m<\/p>\n

2014 Peter Lawwell Wage
\nSalary \u00a3524,576
\nBonus \u00a3400,500
\nBenefits in kind \u00a317,312
\nPension Contributions \u00a357,108
\nTotal \u00a3999,496<\/p>\n

Food for thought ?<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Charlie Saiz has recovered from bleeding eyes, incurred whilst researching money matters, \u00a0and sends us this\u00a0 Celtic Fc Financial Matters 1999-2005 Pre Martin O’Neill http:\/\/www.thecelticwiki.com\/page\/Celtic+Financials+-+Annual+Report+1999…<\/p>\n","protected":false},"author":7,"featured_media":7875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[],"tags":[],"jetpack_featured_media_url":"https:\/\/etims.net\/wp-content\/uploads\/2015\/10\/money-lawwell.jpe","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2J7If-230","_links":{"self":[{"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/posts\/7874"}],"collection":[{"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/etims.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7874"}],"version-history":[{"count":1,"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/posts\/7874\/revisions"}],"predecessor-version":[{"id":7876,"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/posts\/7874\/revisions\/7876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/etims.net\/index.php?rest_route=\/wp\/v2\/media\/7875"}],"wp:attachment":[{"href":"https:\/\/etims.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/etims.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/etims.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}