Celtic AGM: The key points from the shareholders' 2012 meeting

Celtic manager Neil Lennon and Chief Executive Peter Lawwell (right).
Celtic manager Neil Lennon and chief executive Peter Lawwell (right) answered questions at the 2012 AGM.SNS Group

Celtic shareholders had their yearly chance to grill the club's board as the 2012 Annual General Meeting.

Figures for the year ending June 30, 2012 showed a decline in turnover to £51.34m.

An increase in operating expenses of £1.93m was also in the books, as well as an overall loss in the period of £7.37m against a very slight profit the year before.

Chairman Iain Bankier and chief executive Peter Lawwell fielded questions on a number of other off-field matters.

Manager Neil Lennon was also in attendance to answer points raised over the success of his side on the pitch. STV provided full coverage of the AGM as it happened and has brought together the best pictures, tweets and updates from the meeting.

You can read how the AGM unfolded update-by-update here.

  1. OfficialNeil
    Morning all....big day today for the club and shareholders...its our annual A.G.M
  2. celticfc
    #Celtic AGM (TH) http://pic.twitter.com/hTGwRUem
  3. The board reflected on their plans to invest in a long-term strategy, as opposed to spending heavily on the first team, and how it has bore fruit.

  4. celticfc
    PL: 'Five-six years ago we made a bold decision to divert money from first-team into long-term.
  5. celticfc
    PL: Built Lxtown. Invested in recruitment, scouting, process, technology, people, academy, sports science & performance analysis.
  6. celticfc
    IB: Invest in youth, judicious trading of mature players and scouting for good talent across the world.
  7. celticfc
    IB: Recent events have demonstrated that maintaining a financially stable, resilient and forward-thinking football club is vital.
  8. celticfc
    IB 'We saw all the fruits of that last week in a truly magnificent result against Barcelona.
  9. MattMcGlone9
    About 450 here so far at Celtic Park AGM..... http://pic.twitter.com/HepxrKUa
  10. Manager Neil Lennon then reflected on the success his squad have had as a result of the board's plan.

  11. celticfc
    PL: 'Objective of creating CL players. Realised we couldn’t go and buy them. It meant we had to do something different.
  12. mikefstv
    Lennon: We've got some fantastic young players. Some of whom could grace any team in Britain #ticagm
  13. mikefstv
    Lennon says that Celtic have come a long way in the last year. He says the biggest challenge will be holding onto players #ticagm
  14. mikefstv
    Lennon: Keeping the team together is a huge challenge. No doubt the wolves are going to come to the door in January and the summer #ticagm
  15. mikefstv
    Lawwell says 'Every club has got to look at the value of any offer for players' but cash would be reinvested into team and club.
  16. The potential creation of regional leagues, and UEFA's early interest in the plan, was on the agenda.

  17. mikefstv
    Lawwell says UEFA are looking into early proposals for regional leagues involving different European countries #ticagm
  18. celticfc
    PL: 'Committed to SPL but nothing stays the same. Understand initiatives in Europe where UEFA opening mind to some regional leagues.
  19. mikefstv
    Lawwell says its at 'very early stages' re UEFA regional leagues. Says Scottish football should not discount it.
  20. mikefstv
    Celtic chief Lawwell says UEFA looking at regional leagues as an attempt to 'close the gap' between bigger and smaller countries.
  21. mikefstv
    Lennon says he is focused on SPL and current job amid talk of Euro leagues.
  22. MattMcGlone9
    #ticagm Lenny looking like he's wishing he was at training and doing his best not to nod off here...... http://pic.twitter.com/uaWM6DeV
  23. Some Celtic fans, to their annoyance, have had to move from their season ticket seats for Champions League games.

  24. mikefstv
    Shareholder @MattMcGlone9 raises concern over having to move season ticket seat for CL games at Parkhead #ticagm
  25. celticfc
    Member: Every year I have been moved, someone sitting in my seat with Celtic scarf on and clearly not UEFA delegate.
  26. mikefstv
    Lawwell says the rules of CL dictate this and the board do not want to cause disruption for games #ticagm
  27. celticfc
    PL: Reason we sell tickets on as we have been given them back from UEFA, not to displace supporters and sell at higher price.
  28. mikefstv
    Lawwell says the club does not displace fans for big CL games in order to sell tickets on at a bigger price #ticagm
  29. Rangers' demise, and the pending SPL investigation into alleged non-contractual payments, was also a hot topic.

  30. celticfc
    PL on rejecting Rangers' application: Fundamental to us that integrity of game upheld. To do anything else would comprise that
  31. mikefstv
    Peter Lawwell says in #ticagm video that Celtic voted no to newco Rangers as it was the 'right thing'. Admits 'financially we will suffer'.
  32. mikefstv
    Shareholder asks for board's expected outcome if Rangers found to have breached rules in dual contracts #ticagm
  33. mikefstv
    Bankier says it is too early to speculate, but says Celtic board 'won't be shy' to comment when judgements are made #ticagm
  34. mikefstv
    Shareholder calls on board to demand SFA inquiry into years before EBT scheme at Rangers after club were 'cheated' #ticagm
  35. mikefstv
    Lawwell responds that the reason the Rangers SFA inquiry is up to 2000 because of changes in football contract law at the time #ticagm
  36. mikefstv
    Question about the benefits Celtic get from collapse of Rangers, Bankier responds it should give club 'route A into Europe' #ticagm
  37. A proposal was made from the floor for the joint sponsorship deal with Rangers to be ended.

  38. celticfc
    Resolution 10 is from members: next shirt sponsor shouldn't be related to another club, and if no poss. that it display charity logo
  39. mikefstv
    Shareholder is proposing that if advertisers insist on joint Celtic-Rangers sponsorship deal then one should be agreed with charity #ticagm
  40. celticfc
    Member: Shirt should not fit a sposnor who does not fit values or traditions.
  41. celticfc
    IB: 'Sponsorship income is a valuable source of revenue for the Club, which we put to good use in achieving our objectives.'
  42. mikefstv
    Another shareholder says he is 'disappointed' with board not supporting the resolution over joint deals #ticagm
  43. mikefstv
    A poll is being taken on the resolution to end Celtic and Rangers joint shirt sponsorship deals at the end of the AGM. Results later #ticagm
  44. A flare-up between Lennon and Ally McCoist several years ago was again mentioned, drawing a response from the Celtic boss which brought the house down.

  45. mikefstv
    Shareholder asks Lennon what Ally McCoist said to him, having asked him same at #ticagm last year. Greeted with laughs and applause.
  46. mikefstv
    Apologies for typos in tweets. Lenny responded to McCoist question: He said good luck against Barca #ticagm
  47. The AGM was ended with a light hearted, culinary poser from the floor.

  48. mikefstv
    Punter asking for salad rolls to be sold at Celtic Park although he 'likes his pies like everyone else' #ticagm
  49. mikefstv
    Lawwell responds: We tried that and no-one bought it. Lots of laughs at that one #ticagm
  50. OfficialLoui
    #ticagm #Champions http://twitpic.com/bdmvjq

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