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Douglas,

You do realise that Celtic and most clubs generate most of their yearly income in the 1st 6 months of the season, like selling season tickets, merchandise and revenue from european games?

Costs generally increase in the 2nd half of the season with performance bonus payments being made to staff and less or no European games.

This trend has been present in Celtic Interim & Annual reports for a long time now. This is what John Reid was talking about, he wasnt being pessimistic but actually pragmatic.

Maybe you should do some more research before sniping at people.

Douglas

With reference to Jimmycrackcorn's post, welcome to the Celtic Conspiracy Camp (population: humanity - Celtic). You should have know that any remotely negative or downbeat remark is evidence of the universe's chip on its shoulder about all things Sellick.

"It's only with player transactions that half-year profits look substantially better than they did this time last year"

I think this negates any need for research. Its compared against the same accounting period and the same part of the previous season....or normal accountancy practice

I do beleive that Dr Reid is being ptagmatic. He won't have any referees to offer up as straw men to hide the situation this time to he supporters. It doesnt take a long look at the accounts to know that not winning the league and not qualifying into the champions league group stages combined with an early europa league exit on top of falling season ticket sales means a big impact on spending power for the club..in fact a perfect storm....and the old solution of just running up a bank overdraft of double digit millions on the never never to cover high wage earners on long contracts is not a currently bank friendly option as rangers are finding out the hard way. Celtics strengths are they are not starting with the burden of the overdraft, but the pain will be the same and shall impact the budget that Lennon will have, win or lose the league this year.

you are sad indeed sally if you cannot recognise the fact, that it begun some time ago, that is your clubs decline, which has been kept afloat with a combination of honest mistakes and a helping hand from the media and dare i say it, possibly, my own club? we all know that rangers need celtic and vice versa, so i did find it strange that when rangers where there for the taking, they did not give money to strachan that january? strange indeed! but surely, even the most backward of the ibroke colony can see the implosion that beckons, as for the white knight, that sits on the fence, pull the sheet off, you will find a vulture ready to pick at the bones and decay. your club is about to embark on the darkest days in its history. yes i think that is a good word, to end with!!

So, let me get this right "naidive"....according to you:
Even CELTIC are among those guilty in this vast universal conspiracy against Celtic.

Of course! its so ridiculously unlikely, it MUST be true.
Jeez, my mind is blown. Curtains are gettin closed as I type.

I suppose its like an addiction of sorts! Especially at old firm level. Either those that take out, life season tickets, or buy the new merchandising annually, are either extremely frugal and great savers or have loads a money and safe employment, or as I really suspect that some families go short with huge mountains of debt! But if your looking for a cause of the decline of Scottish football, some will argue that its these institutions that are the main cause & effect! Not to mention the secondary disease that is still non-eradicated through much of this city, no matter what other captain of politics / industry might have you believe!

No small wonder there is a cash flow problem, with J Reid at the helm it is inevitable. He was after all part of the most financially incompetent government this country has ever had, it obviously rubbed off.

I think the OF have to be all of the things you mention Douglas - and perhaps more!

Surprised that you didn't mention the UEFA inspired debt reduction measues due to kick in over the next few years. For some though that may be too far off, especially given the comments today about debt being the main problem affecting football league clubs in England.

Celtic will continue to shed players over the summer period so the full year figures won't look that bad.

The really interesting and possibly more nightmare scenario for Scottish football is the overall debt position at Ibrox and the problems they are experiencing with HMRC, which may put them a further £25m in debt.

If the tax position goes against Rangers, then we really might see a 'perfect storm'.