When huge clubs like Juve and Internazionale are in financial trouble, you know that trouble is coming.
Antonio Conte was told to impose severe austerity, and he walked instead of swinging the axe.
The Old Lady of Turin will have to cover losses of £275m due to the pandemic.
Football finance expert David Low, now the main person at the Celtic Trust, is always worth listening to.
Except for a tiny number of elite clubs, the reality for everyone else will be austerity.
If a rising tide lifts all boats, then everything is depressed in a recession.
Clubs that need to bring in money from transfer fees are finding that prices are down from the pre-covid period.
Agents and players are finding that, on the whole, the personal terms being offered by clubs are also down in this new financial reality.
Consequently, it is very much a buyers’ market for players
I’m told that Porto has not upped their offer for Alfredo.
Sevco now have to pay the bill for stopping the Ten.
Tranches are due for some of the players that were brought in to bolster Gerrard’s squad.
Whatever the financial wreckage that will become apparent in the coming months, the Sevco High Command were ultimately successful in stopping Celtic from achieving the Ten.
Now that he has left the building, they might want to send a private note of thanks to the CEO of Managed Decline FC.
It is the contention of your humble correspondent that they could not have done it without him.
He went along with the Ibrox survival myth after 2012 simply because he believed that it was good for Celtic’s bottom line.
Peter always believed in the Old Firm.
Once more, David Low hit the mark.
[NB Brian Quinn left Celtic in 2007].
I think that David obliquely makes an interesting observation; that the Lawwell reign didn’t really start in earnest until the ex-Bank of England man had left the building.
What is not up for debate is that Celtic’s new manager has a huge re-build on his hands.
Indeed, it is probably the biggest task of his career to date.
Moreover, this is the financial climate in which Ange will have to clean house at Parkhead.
The Australian has been dealt a very tough hand and little time to turn it around.
Consequently, some tough decisions will have to be made, and this might be one of them.
In a parallel universe, there is a Leigh Griffiths who received ONE last chance.
In this part of the fitba multiverse, this iteration appears to have an inexhaustible supply of them.
Lucky Bhoy…
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I’m glad Leigh gets another opportunity, time on the park is what he needs. I’ve quoted the interview pre-match when he said “I don’t have a problem with my fitness, other people do” he never started another game for us, even when JK must have known his choices at starting 11 were doing nothing. That idiot didn’t even blood any of our talented youth when there was nothing to play for I’m still raging at that.
Agree that PL may have balanced the books and saw us through on a sound (ish) footing for the years ahead and DM looks and sounds as though he has a measure of what’s needed as does Ange.
The June financials due will give us all a better picture of our financial health.
Telling that DK is out there in MSSM dishing out sage advice and guidance, Ange is a big risk (See PC, MW, et al for lived experience) CL monies are the prize for them and with fans back it’s no longer a training exercise and we all know how the Hun howls have an impact on those fragile souls over at Greyskull.
I’m excited about taking up my seat in the North Stand.
As you know Phil, I have been predicting financial Armageddon for some time.
“The can” can only be kicked down the road so far, eventually it will hit a brick wall.
Im not buying into the faux recovery where central bankers are throwing about money like it’s going out of fashion. The reason they are doing this is because their system is broken. They are facing a massive recession/depression and are desperately trying to stop their economic pyramid scam form collapsing.
The upshot of all this is…badly run clubs/companies can easily go to the wall.
People can slag Lawwell for not spending money Celtic dont have, but long term, he’s probably saved Celtic.
Sevco, on the other hand….
As long as someone wants to continue to cover the costs at Ibrox then they will continue.
Agree Phil – Rangers* will not implode as the Board dig deep into their own pockets ….. why don’t people get this ??? You’ve said it for five years. In my view they are safe and will now face a bill for stopping ten …. but in their eyes and the eyes of their fans it’s a bill paid with huge satisfaction for them. For Celtic fans it’s more painful to have money in the bank than pay such a bill.
Phil, with regards to Leigh Griffiths getting a new contract. I may be one of the few that is glad of that. I don’t think he has had his problems to seek in the last 2 seasons, and myself having suffered from mental health issues, i know the recovery time is long, if even achievable for a permanent recovery. He hasn’t been at his best since the first season. Although, I do feel he wasn’t given many chances to improve his on field displays last season, the latest argument between himself and Neil Lennon leaves more questions than answers as to if he was fit or mentally able or not. With so many leaving this summer and very little time to bring in replacements and get them working together, I think it is a good idea to keep players that are willing to try their best for the team. Some of the players that were involved last season couldn’t guarantee that. If we do go with 2 strikers this season, which looks like Ange’s preferred option from previous teams, Leigh may get more chances, feel he is wanted and give more to the club and the team.
Loving the work you do and continue to fight the good fight. Well done on finishing the new book too. cheers
If he screws the noggin, he’ll be a valuable asset this season.
I tend to read alot of what people think is happening and what is going to happen, Celtic in my mind need a rivalry team, Scottish football is nothing without it, now England also needs a rivalry with any country they rule (adjacent) ” Money makes the world go round ” or is needed to better yourself from others, there will always be rules there will always be individuals, teams, companies, countries and blatant thieves, who will use whatever means at their disposal to gain more money.
I support Celtic, i will never purchase any merchandise including tickets to any Scottish football associations venues as i feel that it is the only way to starve an organisation of incompetence to rethink that every supporter should be treated equally and fair, i know it will be hard for Celtic in the climate we are in but i also know that Celtic can like a team that played from ibrox, could convince the bank to help us buy this seasons league as we have a steady and strong volume of supporters willing to pay, or get an overdraft of £200m payable over 12 years?
min 30÷ interest, that in my mind would be fair play.