Bluedell 5,348 Posted February 28, 2012 Share Posted February 28, 2012 Following last week's posts about Pacific Shelf 595 Ltd, I have done a little more investigation and have come up with the following: There are 3 main companies in this discussion: 1. Celtic plc - this company was formed in 1897 and was previously known as "The Celtic Football And Athletic Company Limited". Its name changed in 1994 to Celtic plc. It was the football club until a restructuring on 15/2/02 when "aspects of (its) trade" were transferred to Celtic F.C Limited . It continues to own the players (ie pays the transfer fees), Celtic Park and the 1/12 share in the SPL. However its accounts also states that "Celtic F.C. Limited has the main activity of which is the operation of a professional football club." It admits that the football club IS Celtic F.C Limited. 2. Celtic F.C. Limited - this company was formed in 2001 and was previously HMS (402) Ltd. as mentioned above, it is a professional football club. It receives all the gate money, employs and pays all the wages of the players and other staff. It receives the TV income. It is the company that competes in Europe. It is also insolvent to the tune of £23 million. 3. The Celtic Football And Athletic Company Limited - This was set up in 1994 and was previously Pacific Shelf 595 Ltd. It is not the football club despite its name. Not much goes through it. It had £80K of turnover in 2010. It was probably set up just to preserve and maintain the old name. The conclusion is that the football club is Celtic F.C Ltd, a company that was formed in 2001. It won the league in 2002, 2004 and 2006-8, although it seems that the 2002 win was done by 2 separate companies. However the Celtic fans don't have any problem in acknowledging that season's league win. I don't understand how a company that is not the football club can own players but I don't know the exact regulations and presumably they are not breaking any rules. Perhaps Whyte was looking at a similar arrangement for Rangers and having Rangers Group owning the players, but the club continues to pay their wages? That's a scary thought. The bottom line is that the company that plays Celtic's games was formed in 2001 and has won the league 5 times. "If you know your history" and all that.... 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted February 28, 2012 Share Posted February 28, 2012 not gonna pretend to completely understand all that...but pretty interesting reading none the less!!!! 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,430 Posted February 28, 2012 Share Posted February 28, 2012 Following last week's posts about Pacific Shelf 595 Ltd, I have done a little more investigation and have come up with the following: There are 3 main companies in this discussion: 1. Celtic plc - this company was formed in 1897 and was previously known as "The Celtic Football And Athletic Company Limited". Its name changed in 1994 to Celtic plc. It was the football club until a restructuring on 15/2/02 when "aspects of (its) trade" were transferred to Celtic F.C Limited . It continues to own the players (ie pays the transfer fees), Celtic Park and the 1/12 share in the SPL. However its accounts also states that "Celtic F.C. Limited has the main activity of which is the operation of a professional football club." It admits that the football club IS Celtic F.C Limited. 2. Celtic F.C. Limited - this company was formed in 2001 and was previously HMS (402) Ltd. as mentioned above, it is a professional football club. It receives all the gate money, employs and pays all the wages of the players and other staff. It receives the TV income. It is the company that competes in Europe. It is also insolvent to the tune of £23 million. 3. The Celtic Football And Athletic Company Limited - This was set up in 1994 and was previously Pacific Shelf 595 Ltd. It is not the football club despite its name. Not much goes through it. It had £80K of turnover in 2010. It was probably set up just to preserve and maintain the old name. The conclusion is that the football club is Celtic F.C Ltd, a company that was formed in 2001. It won the league in 2002, 2004 and 2006-8, although it seems that the 2002 win was done by 2 separate companies. However the Celtic fans don't have any problem in acknowledging that season's league win. I don't understand how a company that is not the football club can own players but I don't know the exact regulations and presumably they are not breaking any rules. Perhaps Whyte was looking at a similar arrangement for Rangers and having Rangers Group owning the players, but the club continues to pay their wages? That's a scary thought. The bottom line is that the company that plays Celtic's games was formed in 2001 and has won the league 5 times. "If you know your history" and all that....[/QUOTE] That bit makes me laugh 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,877 Posted February 28, 2012 Share Posted February 28, 2012 The insolvent to the tune of £23m part interested me. Do you have more figures on that? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,348 Posted February 28, 2012 Author Share Posted February 28, 2012 The insolvent to the tune of £23m part interested me. Do you have more figures on that? They are kept afloat by financial support from other group companies. There wil be a number of inter-company charges involved. Not really a big issue but it's fun to point it out. 0 Quote Link to post Share on other sites More sharing options...
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