Firstly, watching a football manager struggle in this way is never a pleasant sight.
It is anguish in plain view.
Of course, the likely financial payoff is more than most people can imagine.
Still, it is a human being with feelings and loved ones.
It would appear that Sevco’s delightful klanbase is in unanimity about their current manager.
They want him gone without any further delay.
This offering in the Daily Radar from The Man Who Sees Billionaires is worth your time, if only for the comedy value.
If you can filter out the dignified anguish, then some valid points are made about the structural weakness of the current Ibrox business model.
Moreover, the entirely neutral Swiss Ramble Twitter account analysed the Celtic’s annual accounts today.
Once more, the S Word was in evidence.
The SPFL Champions DO have a sustainable business model.
Celtic are not dependent on loans from directors or any other source of external finance.
In the last accounting year (till June 30th 2022), RIFC posted a loss, and the Parkhead club posted a profit.
This fundamental truth would be central to the narrative if there were a functioning Fourth Estate on Planet Fitba.
This number crunching probably compounded the trauma of the Ibrox klanbase.
If Giovanni does leave, his successor will almost certainly want funds to strengthen the current Sevco squad.
There is likely to be lending fatigue in the Blue Room at some point.
It is worth noting that this financial generosity serves only to MATCH Celtic, not to overtake them.
Given the history of the Ibrox business, the irrational spending reflex cannot be discounted.
However, it has a bad history.
Given the mood among Sevco’s delightful klanbase, it seems foolhardy that the brethren in the Blue Room would have Giovanni in situ when the AGM is held next month.
Now that is not their only problem for that dignified gathering.
If Mr King turns up to the RIFC AGMN, it will be genuine box office.
For the avoidance of doubt, Dave wants someone to buy his shareholding in the company.
Yes, dear reader, it really is that simple.
Follow follow the money.
Always.
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One major thing in their finances missing from the media reports.
The 55m wage bill. although some bonuses included last year.
it is still almost 5m a month they have to find.
Wow, read Jack ass article. This is clearly a delusion sevco fan who should be kitted out in a straight jacket and incarcerated in a padded cell. Still talking up Kent incredulous!! Cheated again on Saturday and Clancy didn’t have the balls to stand by his original “correct decision” smitted by the brotherhood oh dear
Jackson is a laughing stock amongst his journalist peers. He has less than zero credibility.
Here’s an interesting little item, I came across purely by chance yesterday, when I was looking for something else entirely.
Transfer Markt has the bold Kent down as the most highly priced player playing in Scotland, valued by them at £17.5 MILLION.
It gets better. The next highest is his grossly overweight team mate, the Columbian striker, with the cheerful countenance of a Pitbull chewing a wasp. He’s valued at £13 MILLION.
NEXT in the list, is their glorious on-field leader, the penalty king himself, valued at £10 MILLION.
THEN, at number FOUR, we finally reach a Celtic player, CVC who is valued at £9.5m.
Young master Jota squeezes into the top 10 at……….. you’ve guessed number TEN.
There are SIX Sevco players in the top ten.
I can’t help but think, that the guy who analyses the data, and assigns the valuations to players plying their trade in Scotland, has leanings towards a particular club. Either that or he’s employed by the SFA.
I wonder how car sales in this post covid, high inflationary, post brexit, UK debt fuelled collapsing economy are doing
“RIFC posted a loss and Celtic a profit”
Does anyone know what profit we made, as the only figures I’ve seen is that the Huns £5.9m gross (?) profit became a £0.9m net loss but I’ve only seen the gross profit, £6.1m, for us?
£6m profit
I’m not qualifies but I think Rangers made an ‘operating profit’ of £5.9m which got the headlines. This became a loss (before tax) of about £2m. I assume a couple of exceptional items explain this, probably linked to Mike Ashley. They must have been able to get tax back somehow as the loss after tax was £919,000.
Celtic’s finances are more simple! A profit of £6.1m before tax became £5.85m after tax.
Cheers, it’s the £5.85m profit after tax that I was interested in
I assume we paid more than £0.25m tax on an £88m turnover and we’ve not gone down the Huns tax evasion route!
You pay tax on profit not turnover. In addition, out of the profit there will be all sorts of allowable expenses. I don’t pretend to know accountancy rules to explain the £250k tax but you can be sure Celtic will not be evading tax. You are permitted to avoid tax via legal means. Expenses, write downs etc. Evading is avoiding by illegal means.
Rather than headlining sevco’s “operating profit” the media should be asking what wiped it out and turned it into a 900k loss. They should be looking at the undercoat and not the gloss on top.
JS
You don’t pay tax on turnover…..only on profit.
Biggest mystery to me is the old firm fc have been built on DEBT and for their ten year anniversary they continue to rely on provident style loans .why are they allowed to scratch along yet other provincial clubs have went to the wall without the Lazarus reborn act
Surely GVB must have known or been forewarned regards the financial situation regards the team playing out of Ibrox before taking the job .
He has either been badly informed by his advisors or someone has been economical with the truth during his interview .
If they do sack him it’s going to cost them big time ,the last thing they can afford.
On top of it DK is hovering around
Let the fun begin