A typical Hoop post...
CELTIC ANNOUNCE £4M LOSSES
Celtic lost £4.474 million in the 12 months to May this year, a rise over over £2 million on the previous year's figures.
Prior to interest and tax, Celtic lost £4.585 million last season compared to the £2.077 million deficit reported for the previous 12 months.
The club estimate their European run last season, which ended in defeat by Porto in Seville in May, brought in £10.2 million, but that was offset by losses on player transfers amounting to £10.8 million.
Chairman Brian Quinn admitted news of the losses would be hard to accept for fans who had expected last season's European adventure to strengthen manager Martin O'Neill's hand in the transfer market.
He said: "Many fans and commentators may find difficulty in understanding how the club could reach the UEFA Cup final and still show an increased pre-tax loss for the year.
"In the meantime, serious efforts continue to improve the cost profile of the company recognising, of course, that excessive cost cutting can prove counter-productive.
"Some degree of sanity is returning to the game after a period of over-exuberance.
"Though it may sometimes seem tempting to go against this trend and speculate on future success, Celtic will not be doing so, while maintaining our drive to be successful in domestic and European competition.
"The board will seek to continue to strike the balance judiciously."
Celtic also saw their overall debt rise slightly last season, up by over £1.3 million to £17.78 million, as they conceded the Bank of Scotland Premier League title to Rangers on the final day of the campaign.
With 53,464 season ticket holders, as well as an extended run in Europe, Celtic recorded a jump in ticket sales which stood at £30.48 million, helped by a 10% hike in season ticket prices.
The amount of money immediately available to the Celtic board rose slightly last season, with the club now boasting £753,000 in the bank compared to £533,000 the previous year.
Wow, they are WAY better off than the Gers!!!
Not that I give a shite how their books are balanced, I just think it is kind of Ironic that Steve, Jinky and the like dig the Gers for heavy debt... I guess the Title last year meant something after all???
Ps. Rangers 2 FC Coppenhaggen 0 (in Denmark)
CELTIC ANNOUNCE £4M LOSSES
Celtic lost £4.474 million in the 12 months to May this year, a rise over over £2 million on the previous year's figures.
Prior to interest and tax, Celtic lost £4.585 million last season compared to the £2.077 million deficit reported for the previous 12 months.
The club estimate their European run last season, which ended in defeat by Porto in Seville in May, brought in £10.2 million, but that was offset by losses on player transfers amounting to £10.8 million.
Chairman Brian Quinn admitted news of the losses would be hard to accept for fans who had expected last season's European adventure to strengthen manager Martin O'Neill's hand in the transfer market.
He said: "Many fans and commentators may find difficulty in understanding how the club could reach the UEFA Cup final and still show an increased pre-tax loss for the year.
"In the meantime, serious efforts continue to improve the cost profile of the company recognising, of course, that excessive cost cutting can prove counter-productive.
"Some degree of sanity is returning to the game after a period of over-exuberance.
"Though it may sometimes seem tempting to go against this trend and speculate on future success, Celtic will not be doing so, while maintaining our drive to be successful in domestic and European competition.
"The board will seek to continue to strike the balance judiciously."
Celtic also saw their overall debt rise slightly last season, up by over £1.3 million to £17.78 million, as they conceded the Bank of Scotland Premier League title to Rangers on the final day of the campaign.
With 53,464 season ticket holders, as well as an extended run in Europe, Celtic recorded a jump in ticket sales which stood at £30.48 million, helped by a 10% hike in season ticket prices.
The amount of money immediately available to the Celtic board rose slightly last season, with the club now boasting £753,000 in the bank compared to £533,000 the previous year.
Wow, they are WAY better off than the Gers!!!
Not that I give a shite how their books are balanced, I just think it is kind of Ironic that Steve, Jinky and the like dig the Gers for heavy debt... I guess the Title last year meant something after all???
Ps. Rangers 2 FC Coppenhaggen 0 (in Denmark)
