• Other Financial Issues

    Celtic and Rangers 2019/20: The Watchman

    Introduction No one expects football clubs to have had a good 2019/20 financially due to the impact of Covid-19, but now that the two large Glasgow clubs have published their results, just how badly were they affected by the ravages of the pandemic? Every business has been impacted by COVID-19, but can Scottish football survive until hopefully successful vaccinations allow a return to ‘normal’ life? Financial Summary Celtic Rangers £’m £’m Revenue 70.2 59.0 Wages 54.3 43.3 Player amortisation 12.2 7.6 Day to day profit (22.6) (16.3) Profit before tax 0.1 (17.8) Wages/Revenue % 77% 73% Player signings 23.5 11.0 Player sales 19.6 1.1 Net debt/(cash) (12.8) 7.1 Revenue In…

  • Other Financial Issues

    Rangers and Celtic: Never Let Me Down

    Glasgow’s big two teams have  good starts to both domestic and Europa Cup campaigns so far this season and both have just announced their financial results for 2018/19. Everyone know that the rivalry between the clubs and especially their fans is intense,  but do the accounts give the likes of @BearNecessities1872 and @PopeAndGlory on Twitter more point scoring opportunities against each other? Revenue Revenue for clubs is generated from three sources, matchday, broadcasting and commercial. Relative to the rest of Scottish football, where many clubs are so small, they are not legally obliged to show income and expenses in their accounts, Celtic and Rangers dominate as would be expected. All…

  • Financial Results

    Celtic: Rattlesnakes

    Introduction Celtic announced their 2017/18 results in mid-September 2018, but these came in the form of a detailed press release, rather than the full annual report. Like many things in relation to Celtic, it left a few unanswered questions where perhaps it would have been easier to give a fuller story. Having failed to make the qualifying rounds of the Champions League, the club face a challenging season where for the first time in many years there could be a credible challenge to their domination of the domestic game. Ambivalent comments from manager Brendan Rodgers, a Rangers who are getting a lot of attention since the arrival of Steven Gerrard…

  • Financial Results

    Celtic: Inbetween Days

    Introduction Celtic’s accounts for 2016/17 arrived in our inbox 24 hours before the club lost its 69 game domestic unbeaten run. We recently reported on the financial situation of Rangers, who were promoted to the Scottish Premiership (SPL) in 2016/7. http://priceoffootball.com/glasgow-rangers-201617-orange-crush/ They highlight the paradox of being in their current position, too rich compared to their peers to make Scottish football competitive (although Hearts fans may now query that), but too poor to be able to challenge in the Champions League, leading to their fans searching through Google Maps as they try to find how easy it is to get to St Petersburg on public transport for the forthcoming Europa…