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Despite his own escalating salary Celtic’s turnover dropped £23m in real terms under Peter Lawwell

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Image for Despite his own escalating salary Celtic’s turnover dropped £23m in real terms under Peter Lawwell

The mainstream media have been quick to tell Celtic fans of the great successes of Peter Lawwell along with claims about his influence across the Scottish and European game.

With a 20 plus points deficit in the SPFL and an expected exodus of players in the summer the outpouring of emotion led by Scott Brown and Neil Lennon hasn’t been universally shared among Celtic supporters.

During his 17 year reign, now well into its 18th term, Lawwell has been involved in a Celtic side that has reached the last 16 of the Champions League three times. In 2007, 2008 and 2013,  at this time of the year Celtic fans were looking forward to facing AC Milan, Barcelona and Juventus.

The last decade in Europe hasn’t shown the club in the greatest light but it hasn’t hampered the incredible growth in the pay packet of the CEO.

Just four times have Celtic reached the group phase of the Champions League in the last decade, early in his first reign Neil Lennon managed it twice with Brendan Rodgers emulating that in 2016 and 2017. Qualification for the group stage of the Champions League is believed to be worth around £25-30m with a few variables involved.

Behind the scenes Lawwell has been incredibly well reward. In Celtic’s 2004 accounts his salary and bonuses were disclosed at £165,961 after joining the club on 25th October 2003. That worked out at £20,745/month which would work out at an annual salary of £248,941.

For the year to 30 June 2004 Celtic had a turnover of £69m, picking up on the aftermath of Seville and including home matches against Bayern Munich, Anderlecht, Lyon and Barcelona. A month after Lawwell’s appointment Bayern players were celebrating a 0-0 draw at Celtic Park- Lyon and Anderlecht hadn’t been so fortunate.

Using the Bank of England inflation tracker, in 2019 the turnover from 2004 would have grown into £106,736,000.

With Peter Lawwell firmly in charge of matters at Celtic Park the income to 30 June 2019 was £83.4m. Had the CEO managed to keep the club tracking inflation turnover would have been £23m higher.

While Celtic didn’t track with inflation their CEO was doing far better, his 2004 pay package of £248, 941 had it followed inflation would have earned him £385,089. With Celtic’s turnover down £23m on the rate of inflation Lawwell picked up a total of £3.5m from his salary and bonus.

In the year to 30 June 2003 (pre-Lawwell) Celtic’s commercial income was reported at £11.46m, using the inflation tracker that should have grown into £18.25m. In the 2019 accounts Celtic’s commercial income was reported at £18.06m almost exactly matching the rate of inflation.

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