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This was from part of a thread the day after the Ferencvaros loss on August 27th. When the avalanche of excuse making commences over the next few months, remember this thread. The problem was a lack of competence- full stop. Not Covid, or lack of fans, or referee decisions. https://twitter.com/jucojames/status/1298946516447563777
The CEO and board didn't "fall asleep at the wheel"-they were wide awake and threw an unprecedented war chest of money at the 10iar quest. They were/are incompetent. They are not good at their jobs. Misattribution of skill to mediocrities while dominating a "1 team league."
Winning leagues that you are 80% favorites and have 5x's the wage bill of the closest competitor is not "excellence." Accumulating cash managing a pseudo-monopoly business does not display good business acumen. How were the resources reinvested for the future?
This is a societal plague-a managerial class becoming wealthy for mediocrity. Tim Cook at Apple is a poster child. No real value creation. No real vision. Benchmarking vs other mediocrities in the same managerial class & benefiting/taking credit for factors outside their control.
Celtic's revenue for fiscal 2004 was 69,020,000. If I simply adjust that for UK inflation through 2019, that results in 95,660,084. The CEO's total compensation for his 1st full year ending in June 2005 was 298,961. The pre-pandemic fiscal year end figures for June 2019 were
83,410,000 in revenue and total compensation to the CEO of 3,549,026. That is an average annual increase of 1.27% in club revenue vs 19.33% average annual increase in CEO compensation. UK inflation average was 3% per year according to the Bank of England website.
Just like I am sure Lennon and Brown wouldn't have liked people like me analyzing their performance levels and pointing out mediocrity, I am sure people like those on our board or CEO wouldn't be fond of this post. No post-group stage wins since 2004.
A free shot at Champions League for almost a decade. A lack of modernization of football operations. There is definitely a culture problem- the normalization of incompetence & glorifying & rewarding mediocrity. That is what the picture and trip to Dubai encapsulate. End.
