I was heartened to receive a message from Rugger Guy a couple of hours ago.
My egg-chasing pal in the Square Mile said that, if time allowed, he would peruse the RIFC accounts for 2022 over the next 24 hours.
He reminded me that if he could put something into the written form, it would be his farewell on the Association Football front.
With that in mind, dear reader, I’m not an accountant.
Any attempt by your humble correspondent to analyse these figures would be as unedifying as listening to a dignified pundit on the radio offering up a smorgasbord of malapropisms on the way to an idea.
So in the interest of clarity, I won’t even try.
However, this venerable member of the NUJ can spot spin, even when it is down range and in bad light.
Dear reader, this is what it looks like:
I think it is fair to say that the Blatt that told the world about the Sauve Billionaire carried out ZERO journalistic checks before gushing that out.
Unsurprisingly football finance expert David Low was quick out of the blocks.
David was correct in referencing the UEFA factor going forward.
Although, don’t expect the Daily Radar to be running with that one.
I’m always grateful when a knowledgeable person who comprehends their subject fully will explain something simply..
That’s because a straightforward explanation eludes them if they do not fully grasp the situation.
Therefore, I’m indebted to David for Tweeting it to the likes of me in Golden Retriever.
My untrained, unqualified takeaway is that despite a stellar and probably unrepeatable year for revenue, the ten-year-old club still posted a loss of just under £1m.
No matter what the Sevco High Command does this year, next year, or the year after, they are still up against a rival with a bigger stadium and more season tickets.
The import of this is put rather well here by CQN.
The lack of scrutiny by the local media and the cloying need for a feel-good narrative will temporarily soothe the Ibrox klanbase.
Of course, a seasonal infusion of Poppy Porn will also help the mood tonight.
They gleefully swallowed the risible narrative about Craig Whyte, the billionaire in 2010, and everything else that has emanated from the top of the marble staircase ever since.
Lest we forget.
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Here we go again. Either VAR is not fit for purpose or those making the decisions are hopeless.
Jots’s Disallowed goal judged offside when you see the slo mo replay..
I have no doubt that VAR will be no friend to Celtic whilst those making the wrong calls on VAR incidents have the final say.
VAR is supposed to correct to correct the decisions of the officials.
What
After last nights offside decision what next?
VAR 2 now required to correct the mistakes of VAR 1, and so it goes on.
Just as an add on here Joseph, The VAR catching incidents the are missed by the ref, I’d say there should have been 2 red cards as well for endangering players for Giakomakis V Dundee Utd, and on Starfelt last night. 2 ridiculous challenges and not even a foul given for either incident. Now I wonder, but know nothing will change, what are the board thinking regarding player safety and protection. Giakomakis got studs to the chest, and Starfelt on the end of a 2 footed leap off the ground by the Motherwell player. Player safety must mean nothing to our board
I can only hope Charles Green has an onerous contract that gives him a hefty payout once the CL music was heard. I hate to say it but it looks like they have avoided the grim reaper at least temporarily.
Remember this guy’s:-
Profit is what you make it, but cash is king.
All might not be as rosey as it is painted.
The RIFC accounts are ok. Like us they made a small loss before player trading. Player trading gives them a profit. They paid Ashley 6m and repaid Director loans 15m. They are financially stable. There is no Going concern warning because CL money, no Ashley to pay and Aribo/Bassey fees keep them stable for next year as well. They have no no big war chest and struggled to make a profit despite good Euro run (as did Celtic struggle in 2003). So they have no big war chest but are stable and need player sales to make a profit. Their match day income nearly matched Celtics as they played more games. My hard summary is this…..Over last three years they have stopped 10 in a row, got to a Euro Final, paid off Ashley and got to a financially stable position for this year and next. Long term unless they sort out player trading they will struggle without CL money.
Seems fair.
Mark B, you’re right. These accounts are significantly better than I expected, though to temper that they include CL revenue and the entire Patterson fee (an interesting one as fees are usually paid in trenches…let’s hope it’s not double counted next year). Stable but hardly exciting. They’ll survive if this remains their model, but they’re unlikely to become magnificent. A loss of CL revenue would hurt them. But the FSR is the worry, their percentages are still not within the safe framework.
Would be interested to see if Everton claim they spent the full wack on Patterson in one go – if they don’t then sevco didn’t receive it.
You have to pity the person who had to sit and write this nonsense regards their accounts, knowing people would see through his article ,it is no more than a puff peace to appease the mob. it will be interesting to see rugger guy take their accounts apart .
Sevco have their problems to seek if UEFA choose to forensically examine their trading model. Although entirely different to the AC Parma/Parmalat scandal of the 90’s, there are a number of similarities between events at both clubs. Have a read, and see what you think…
https://thesefootballtimes.co/2015/01/15/parma-and-the-parmalat-scandal/
Nice to see big Mike got a sizeable wedge from them, But does it include Layers fees?
Lawyers.
They find it all very taxing