The True costs of “$UCCE$$”

67 Hail Hail Articles
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A follow up to my previous Moneyball v Balls To The Wall ramble.

We know in Football you tend to get more bang for your buck if you like the likes of Barca,Man Citeh,Chelski ,Man Utd etc etc have proven if you spend way more than you are currently taking in.
Ie outspend the Competition.
In fact most if not all all of the modern successful sides have operated with huge deficits in their Accounts over these past few Years.
Moneyball is a real thing.
Scottish Clubs well two in particular have attained relative success by doing the same thing.
Celtic under Martin O’Neill for example invested heavily in his side and reached a major European Final as a result.
Rangers under David Murray and several Managers also attained success through heavily investment that increased indebtedness and the likelihood of financial troubles further down the line.
With current situation both at Celtic and The 2angers a Club formed in 2012 after that reckless error under Murray ended in tears I decided to look back ad see if there was indeed a correlation still with Scottish Clubs being able to mount a viable assault in Europe from within our own poorly funded Domestic game.
Here is a basic overview of the basic Financial Results Coupled with the On Field Results during the recent periods at all 3 Clubs where we have made a mark on the European stage.
Celtic During the O’Neill era
Rangers under McLeish
Now The 2angers under Van Bronkhorst and Gerrard

2002-03
CELTIC No Domestic Trophies
UEFA CUP Finalist
Turnover £56.89m
Operating Expenses £51.52m (90% of Turnover )
( £3m Loss)

RANGERS Treble Winners
UEFA CUP 1st Rnd
Turnover £44.6m
Operating Expenses £63.95m (143% Of Turnover)
(£35.3m Loss)

2003-04
CELTIC League /Cup Double
CL Group Stage 3rd
UEFA Cup 1/4 Finalists
Turnover £60.56m
Operating Expenses £53.83m ( 88.88% of Turnover)
(£11.66m Loss)

RANGERS No Domestic Trophies
CL Groups 4th
Turnover £49.03m
Operating Expenses £60.24m ( 122.8% of Turnover)
( £29.6m Loss)

2007-08
CELTIC League Winners
CL Round 16
Turnover £72.95m
Operating Expenses £64.09 (87.5% of Turnover)
(£4.43m Profit)

RANGERS Cup Double Winners
**CL Group 3rd **
UEFA CUP Finalist
Turnover £64.45m
Operating Expenses £56.81m (88.145% of Turnover)
( £7.1m Profit)

2008-09
CELTIC League Cup Winners
CL Groups 4th
Turnover £72.95m
Operating Expenses £61.35m (84.52% of Turnover)
(£2m Profit)

RANGERS League / Cup Double
CL 2nd Round
Turnover £39.7m
Operating Expenses £48.23m (66.45% of Turnover)
(£12m Loss)

2017-18
CELTIC Double Treble Winners
CL Groups 3rd Europa League R32
Turnover £101.5m
Operating Expenses £87.08m (85.79% of Turnover)
(£15.4m Profit)

THE 2ANGERS 3rd In League
Europa League Round 1
Turnover £32.678m
Operating Expenses £38.91m (119% of Turnover)
(14.34m Loss)
Debt For Equity Loan x1 £1.446m
Total Loss £15.786m

2018-19
CELTIC Treble Treble Winners
CL 3rd Rnd Europa League R32
Turnover £83.4m
Operating Expenses £86.9m (104.19% of Turnover)
(£8.7m Profit)

THE 2ANGERS 2nd League
Europa League Groups 3rd
Turnover £53.171m
Operating Expenses £58.2m (109.45% of Turnover)
(£11.27m Loss)
Debt for Equity Loans x4 £8.98m
Total Loss £20.25m

2019-20 (Season Cut Short Due to Pandemic)
CELTIC QuadrupleTreble Winners
CL 3rd Rnd Europa League R32
Turnover £70.2m
Operating Expenses £80.54m (114.72% of Turnover)
(£368K Loss)

THE 2ANGERS 2nd League
Europa League R16
Turnover £59.03m
Operating Expenses £63.98m (108.38% of Turnover)
(£17.46m Loss)
Debt for Equity Loans x5 £16.343m
Total Loss £33.803m

2020-21 (Covid Empty Stadia)
CELTIC No Domestic Trophies 2nd In the League
CL 2nd Rnd Europa League Group 4th
Turnover £60.78m
Operating Expenses £74.35m (122.32% of Turnover)
(£12.6m Loss)

THE 2ANGERS League Winners
Europa League R16
Turnover £47.74m
Operating Expenses £68.52m (143.52% of Turnover)
(£24.15m Loss)
Debt for Equity Loans x11 £43.78m
Total Loss £67.93m

It is fairly evident that the increased risks through chucking more money at it sometimes pays off.
However time will tell if this approach works out to be better or worse than the Moneyball Approach now in force at Celtic post 2012.

The warning signs are there that this could end in disaster as it did for Old Rangers in 2012.

To chuck the best part of £67m at winning the League is quite astonishing.
11 Debt for Equity Loans in 1 year is absolutely horrendous when your playing in such a poorly funded league such as ours.
No wonder King wants his shares sold rapid.

All information provided is freely available on the Companies House Website .

CELTIC PLC
Company number SC003487
Incorporated on
12 April 1897

RFC 2012 P.L.C.
Incorporated on
27 May 1899
Company number SC004276

Rangers International Football Club PLC
Incorporated on
16 November 2012
Company number SC437060

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Debt for Equity Loans since 2018:

2018
3 October 2018 £1,446,253.38p

Total £1,446,253.38p

2019

28 June £1,721,680.59p
5 August. £2,152,272.79p
24 September £2,501,319.82p
13 November £2,606,319.82p

Total £8,981,593.02p

2020

30 September £3,028,819.82p
1 November £3,221,969.12p
17 November. £3,272,418.72p
10 December. £3,409,918.72p
14 December £3,410,418.72p

Total £16,343,575.10p

2021

19 March £3,572,918.72p
30 March £3,682,918.72p
8 April £3,882,918.72p
19 April £3,904,418.72p
7 May £3,906,588.57p
4 June £3,910,088.57p
13 August £4,088,588.57p
1 September £4,089,388.57p
23 November £4,229,388.57p
8 November £4,233,388.57p
23 December £4,283,286.33p

Total £43,783,892.63p

Oh and a cheeky wee …
21 February 2022 £4,323,286.33p
Just for safe measure :grimacing::+1:t3:

That’s a whopping £74,878,600 and 46 pence since 2018 in extra Investment to keep the Big Top open.

:woman_juggling::clown_face::circus_tent: :clown_face: :woman_juggling:

**On top of £107.19m in losses since 2012 **
Equates to approximately £185m going out the door at Ayebrokes to get them where they are currently.

Now you could ask yourself which approach has panned out best between both Clubs in the past decade or so ?Well since they emerged from the ashes of the last Ayebrokes catastrophe :man_shrugging:t2:

Celtic Posting approximately £50m in Profit whilst winning:
9 in a row,a Quadruple Treble but struggling in all honesty to make headway into the latter stages of European Competition regularly🤷🏻‍♂️
Or alternatively…
The 2angers formed in 2012 pumping approximately £190m in to stop 10 in a row, make serious inroads into the after stages of the Europa League after two decent showings in the last 2 Seasons whilst on the verge of losing their Empty Stadia Title to a newly rebuilt Celtic team on the cusp of a double and Champions League Qualification and all that that brings :man_shrugging:t2:

It isn’t until you lay it out bare that you see the enormity of what is again occurring at Ayebrokes.
Once again a financially doped enterprise is hurtling toward oblivion without a care in the world for what can happen if you operate an unsustainable approach within the constraints of Scottish Football.
As was the case with Murray’s Rangers (In Liquidation).
The media haven’t yet once questioned why Dave King is/was in such a hurry to sell his shares to Club 1872.

He knows this ends badly and wants out rapid.
He’s seen this movie before after all.

The only fools daft enough to buy his shares are Club 1872 and I do question what the angle is of those who run that particular enterprise is?
What is the thinking behind spending £1m chunks of Supporters money on shares when the Club is simultaneously diluting that £1m in shares down with a £4m Debt for Equity swap soon after?
Nonsensical.
They’d be better saving that cash and buying in bulk when it all goes Pete Tong.
As it surely will if we deny them Champions League access and they fail to win the Europa League.
No Champions League Revenue will mean a fire sale this Summer.

I would be very worried if this was Celtic at present.

All information freely available via this Link

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Great effort in researching all of our rivals’ financial pitfalls.

The sad fact is that even if they do suffer financial irregularities again, the SPFL will still keep them going in some shape or form.

All we can do is keep going the way we are, take our league title back, hope Leipzig turn up on Thursday and wait for the implosion over the city :crossed_fingers:t2:

Hearts winning end of May would be the icing on the cake to shut all the expectant crows up but as long as we win our league back, great season for us :four_leaf_clover:

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If they were under AIM scrutiny questions would have been asked by now.
King promised a NOMAD back in 2015.

Now you know for certain that was never the plan.

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Now then folks.
This result certainly puts a cat among the pigeons as the old saying goes.
Champions League Qualifiers are now between The 2angers and a Champions League windfall.

Make no mistake tonight’s failure is a disaster for those who have ponied up over £70m in extra Investment keeping them relevant in Europe these past 3 Seasons.
Failure to navigate the notoriously tough Qualifying will mean a fire sale this Summer.

The pressure is now well and truly on them as failure is not an option.
Dermot and Co will obviously know this.

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If TRIFC 2012 hit the wall, would it be cheeky of us to build a statue of Aaron Ramsay? Maybe even a wee engraved paver on the parkhead walkway :four_leaf_clover:

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“Finally, the CFCB First Chamber also observed that another 19 clubs that took part in the 2021/22 UEFA club competitions, namely Borussia Dortmund (GER), Chelsea FC (ENG), FC Barcelona (ESP), FC Basel 1893 (SUI), 1.FC Union Berlin (GER), Fenerbahçe SK (TUR), Feyenoord (NED), Leicester City FC (ENG), Manchester City FC (ENG), Olympique Lyonnais (FRA), Rangers (SCO), Real Betis Balompié (ESP), Royal Antwerp FC (BEL), Sevilla FC (ESP), SS Lazio (ITA), SSC Napoli (ITA), Trabzonspor AŞ (TUR), VFL Wolfsburg (GER) and West Ham United FC (ENG), were able to technically fulfil the break-even requirement thanks to the application of the COVID-19 emergency measures and/or because they benefited from historical positive break-even results (T-3 and T-4).”-UEFA

“The CFCB First Chamber reminded these clubs that as from financial year 2023 these exceptional COVID deductions and consideration of historical financial results will no longer be possible. These clubs were further asked for additional financial information and will be monitored closely in the upcoming period. The goal of course is that the clubs’ overall financial situation is in compliance with the UEFA Club Licensing and Financial Sustainability Regulations – Edition 2022 in coming years.”-UEFA

Now we know why their Investors sunk the bulk of their Debt for Equity in during the Covid Window for exemption.
£43m last year in 11 Separate Instalments.
They’ve been playing hard and fast with the rules again as even with the sales of Aribo,Bassey and Paterson.The Europa Final and now the CL their Board have held back in the window that just shut.
This is screaming running costs being way over the threshold and now UEFA want a proper look into their Finances.

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They’re being put on notice that the “Covid done it” excuses will no longer be accepted.
The loans they’ve received from board members who have accepted shares as repayment must also be a major concern as handing out shares as form of debt consolidation to the extent they’ve been doing does little more than water down the value of their shares.

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Not only that but they’ve also seriously impacted Club 1872’ Shareholding by doing so.

Shareholding June 2016 - 4,900,776 Shares
6.01% Of Shareholding

Shareholding April 12th 2022 - 22,202,838 Shares
5.13% Of Shareholding

ie Mugging their own Support off.