Celtic have published their Interim Financial results for the six months to 31st December 2020 but not made any reference to the Managerial Review announced on 7 December.
There is absolutely no legal or City requirement for the club to comment on the Managerial Review but an update was mentioned in a letter sent to Celtic Fans TV. The letter mentioned that ‘at the same time’ as the Interim Results are published the concerns of the supporters will be addressed. At 7.45am no other article has appeared on the club website
Without match-day fans and corporate income Celtic’s turnover for the first six months of the year was £40.7m compared to £53.3m in 2019.
While a 25% reduction is obviously concerning £40.7m in income without a fan attending a single match is an impressive figure but one that won’t be repeated in the second half of the season when the fixed costs, mainly wages remain in line with the first six months.
Celtic made a loss of £0.3m which means that they had costs of £41m. At the end of 2020 Celtic had £19.7m in the bank. During January the club sold Jeremie Frimpong with further fees to come in for Hatem Abd Elhamed and Olivier Ntcham with three wages removed for the second half of the season.
2 min 45 seconds for ‘at the same time addressing as best I can the concerns of our supporters’
Other than commenting briefly on the figures published in the accounts there was little given away by the club as they announced that the team was 18 points behind in the SPFL Premiership having retained the held over Scottish Cup.
Commenting on the club website Bankier says:
I would like to thank our outgoing Chief Executive Peter Lawwell for his contribution to Celtic over the last 17 years. His role in transforming Celtic into a modern, highly respected European football club cannot be underestimated and has been nothing short of outstanding. It has been a pleasure to serve alongside him and we look forward to welcoming Dominic McKay as our new Chief Executive to continue to grow the Club.
Finally, on behalf of the Board I would like to reiterate to our supporters, shareholders and partners that their support has been crucial over the last 12 months, in what has been one of the most challenging times for the Club. We recognise their support and we thank them for the loyalty they have shown.
CLICK HERE to view the December statement announcing the Managerial Review.
Celtic have released their Interim Report for the six months to December 31, 2020.https://t.co/ode4RwXlEm pic.twitter.com/A7oYFbl79g
— Celtic Football Club (@CelticFC) February 15, 2021
The lack of any acknowledgement in the @CelticFC statement of the managers role in the current highlight of being 2nd in the league and out of europe shows how detached they are from reality. This was yet another opportunity to reconnect with the fans missed by our custodians HH
— Celtic Gossip (@CelticGossip) February 15, 2021
Any chance you want to release a review into how the manager is still in a job?
— Steven (@Durninho) February 15, 2021
Apparently being second is a highlight now ? pic.twitter.com/Aq5sfJSwFU
— Stuart Deane (@StuartDeane1) February 15, 2021
“We recognise their support and we thank them for the loyalty they have shown.” = “cheers for your season ticket money £600 a skull to watch a 2nd rate stream that is behind your mates watching on dodgy boxes. There’s yer added value”
— Jackanorry (@Jackanorry) February 15, 2021
Think of how good it would have been to have qualified for the CL and then think about the fact that you kept a manager who got us put out at the earliest stage in our history.
— Danielle C (@Dani1987CBLM) February 15, 2021
Still, even in this review, not a single word about a manager that has needed to go for months now. Everyday he remains in charge is a day we move backwards. Times been up. pic.twitter.com/Xc8nX9wk0N
— Patrick Leonard (@_LeonardPatrick) February 15, 2021
I think the prolonged transfer excuse is aimed at the players who where looking for a transfer and it left the team unsettled.
No validity in it for me as every club had to deal with it but that will be there thinking— Ryan Allen (@Rallen6788) February 15, 2021