Virals: Outgoing Celtic figure backs business model and hails fans
Celtic released the club’s annual results for the year ended June 30th 2022 on Tuesday evening, and what is perhaps of most interest is the statement made by Celtic chairman Ian Bankier.
Bankier is leaving his role at Celtic Park at the end of the year, and he used his last ever chairman’s statement to not only back the business model that the club has been using recently, but he also paid tribute to the Celtic support.
We have every confidence in our business model that over the period of my office has demonstrated its robustness, especially in challenging times. In closing, I thank all of my colleagues at Celtic, whose enormous efforts have delivered this pleasing year of transition. I also pay tribute to our remarkable support, who have backed the Manager and the team every step of the way.
Celtic managed to record a profit of £6.1m for the year ended June 30th 2022, which is pretty remarkable when you look at the problems the club has had to face in recent years, particularly Covid.
That seems to show that the club’s current business model is working, and won’t be changing any time soon.
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You don’t usually hear from Ian Bankier, he has a much lower profile than other figures at Celtic Park have had over the years such as Peter Lawwell, and that is probably a good thing, as the last thing that you want is more attention on off the pitch matters than on the pitch matters.
It has to be said that Celtic’s business model looks to be working at the moment, but for that to continue over the next few years the Hoops will likely need to make some sales, which has been the case at Celtic over the past 10 years, the Hoops have made some excellent money on players leaving the club, most notably Kieran Tierney and Moussa Dembele.
It is always a pity when players leave Celtic, but being realistic the days of players committing to one club forever are all but over. It is also interesting to see Bankier pay tribute to the Celtic support.
The Hoops fans got behind Ange Postecoglou as soon as he joined the club, and it can be argued that they have played a big part in the success that the Australian has achieved since joining the club. The fans deserve credit for sticking with the manager after an indifferent start, and the outgoing Celtic chairman is correct to praise those that follow the club.
Staying in the Champions League every year is crucial to us holding on to players and not having to sell, but only to sell if it is appropriate to sell. Once we reach that situation then our business model will be at its peak.
Celtic is a business built on sentiment and targeted religious intolerance, with their archrivals Rangers capitalising on the bigotry that is endemic in every strand of Scottish society.
The club has a huge worldwide supporter base thanks to the centuries of religious oppression and enforced emigration of the Irish diaspora.
The businessmen at the club know they have a captive fanbase and now seek to expand their supporter audiences in Australasia and Japan.
As a business Celtic seek to buy young talent and sell them on for a profit by providing them with access to the Champions League stage to exhibit their skills.
The income streams for the club extend into marketed club merchandise and to some extent in the Celtic boardroom the actual football played on the pitch is secondary.
Every young Celtic player sees playing for Celtic as a steppingstone to advance their career in England or Europe.