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SBD/August 16, 2011/Franchises
ManU Planning To Offer IPO On Singapore Stock Exchange In Fourth Quarter
Published August 16, 2011
CELTIC WARRIORS: In Scotland, Stephen Halliday reports Scottish Premier League club Celtic had its "lowest turnover ... in ten years" for the year ending June 30. Not reaching the "group stage of either the Champions League or Europa League last season was the primary factor in Celtic suffering a drop of almost 15 per cent in turnover." The club had revenue of US$86.1M, a drop almost US$14.75M "from the previous 12-month period." It is Celtic's "lowest turnover since 2001, the year before they competed in the Champions League group stage for the first time." The club has "successfully managed the decline in revenue, with yesterday's accounts showing their debt reduced" to US$868,375, compared to US$9.58M at the same point last year (THE SCOTSMAN, 8/16). In London, Graham Spiers notes turnover "isn't everything ... but it is still an indicator of how vibrantly you are doing business," and Celtic is "feeling the pinch." The team three years ago had 54,000 season-ticket holders, but that figure "was down to 42,500 for 2010-11." The team yesterday indicated that the "present season-ticket figure was up to around 44,000, but we are still looking at a reduction compared to recent seasons" (LONDON TIMES, 8/16).