Michael Corleone, Rod Stewart, and pyrotechnics. Welcome to the rip-roaring, never-boring annual spectacle that is the Celtic AGM. There is never a dull moment at these events is there?

Celtic are in rude financial health that's for sure. For the bottom liners that equated to an annual turnover of £124.6 million, which was up 3.9% on last year with a profit before tax of £17.8 million. The club also sport some £77 million in the bank.

As ever with Celtic there is always the 'rainy-day' preparations. Lawwell was quick to point out that in the world of Celtic, it takes just one year of no access to Champions League money or Europa League participation to rip financial plans asunder. Just ask Rangers.

Lawwell said: "Another advantage having such high cash reserves has for us is that this an uncertain industry. When you're winning, everything is fine. But we need to provide for the longer term if things don't look quite as well as they have been in the past.

"So we can see, looking elsewhere, what happens if you don't participate in the Champions League for a year and you replace that with the Europa League. That is a difficult financial challenge we are looking at dealing with moving forward. So, all in all, off the pitch, really, really positive. Those cash reserves and the strong balance sheet we have allowed us to invest in the squad in the summer. We broke our transfer record on two occasions (when signing Adam Idah for £8.5 million from Norwich City and Arne Engels from Augsburg for £11 million)."

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It was CFC, not PLC who won the Scottish Premiership title and Scottish Cup last season thanks mainly to Brendan Rodgers in his first campaign back at the helm. The club are currently top of the league tree alongside Aberdeen and is in the Scottish League Cup final against Rangers to be played at Hampden on Sunday, December 15. Victory in the first showpiece of the season will see Celtic overtake both incarnations of Rangers trophy haul once and for all.

With four games played in the new-look Champions League league phase, Celtic have also put themselves in with a fantastic chance of automatic qualification to the knockout phase by finishing in the top eight or at the very least securing a play-off spot by being in the top 24.

The club are ticking along very nicely thank you very much thanks for asking. With things going so well on and off the park for Celtic the expected fireworks that can usually accompany such an event never quite materialised in Glasgow's east end.

However, that didn't stop the issue of pyrotechnics coming to the fore at one point in the proceedings as Celtic chairman Peter Lawwell revealed that progress of sorts had been made in that the club had paid less in UEFA fines this season so far since the last campaign but still branded any outlay as 'unacceptable'. Lawwell said: "Celtic were €90,000 in fines from UEFA last season. This year we've paid €47,000 in fines so far. It's unacceptable and it is very, very unfortunate."

Speaking of unfortunates, it was Lawwell snr who shouted down one heckler who tried to pass off his own agenda by questioning his son Mark's track record in the transfer market. Mark Lawwell had stepped down from his position as head of scouting and recruitment back in March.

Lawwell refused to answer the question citing the questioner as having 'an unhealthy obsession with Lawwell and his son; and refused to give it 'credibility' whilst CEO Michael Nicholson and Rodgers poured lavish praise on a former member of the Celtic family.

Nicholson said: "This is a meeting to discuss Celtic. It's not a meeting to discuss unwarranted personal attacks on any of our colleagues or former colleagues. Last year I wasn't jovial, I was very serious about the decision that we'd made to bring Mark to the club. Those decisions we stand by. The collective that we worked with over the last period of time is, as I say, a collective responsibility.

"When Mark decided to leave to pursue other opportunities, we were sorry to see him go. Brendan and I worked very closely with Mark."

(Image: Colin Mearns) Rodgers also interjected at this point and said: "Can I just come in on that... Mark did a fantastic job here at Celtic. Every player that comes in here will not succeed. I think if you look at Mark's influence on bringing in Ange Postecoglou was huge. If that was his only contribution here, then he did a fantastic job but he didn't. He was influenced by bringing in other players, like Ali Johnson and some of these other guys. All the players won't work out that come in here, and I know that as a manager and as a coach.

"My experience of working with Mark was second to none. He decided to go down a different route, and I respect that. But I also sit here and he's defence because he's a massive Celtic supporter. Like Peter, from a Celtic family, who want nothing but the best for Celtic. Sometimes in that role of recruitment, like it is as a manager, you bring in a player, and it just might not quite work out for whatever reason.

"Finally, what I do know is that his intention was for the very, very best for Celtic and for that, that's why I will defend him."

Nicholson also insisted that the club were actively sifting through this summer's questionnaire, which was completed by thousands of supporters. The potential existence of 'The Celtic End' - the safe-standing initiative - in the Jock Stein Stand, was the main issue here as those currently in place at that section of the ground would have to relocate if 'The Celtic End' was to ever come to fruition.

Nicholson stated that whilst there was 'demand' Celtic was putting a lot of work into the fan survey and analysing the results. The issue of stadium expansion also proved to be something that the Celtic supporters crave with particular reference to the South Stand. Again Nicholson was quick to bring a healthy dose of reality by stating 'the club were constantly thinking about areas for improvement - but it would be easier to do if they were in the English Premier League due to the finances involved.' Bearing in mind three years ago the costs were estimated at £100m to redevelop the South Stand.

So just exactly where did Michael Corleone and Rod Stewart fit into all of this pre-Christmas pantomime? Well, one shareholder took to the mic to trot out this garbled message. He said: "Michael when Peter was our Chief Executive, he was known as the Godfather of Scottish football. You are now the Godfather of Scotland. You are Al Pacino to Peter's Marlon Brando." It was a statement that couldn't be understood in truth, never mind refused.

As for Rod Stewart, he is highly unlikely to be investing in the club any time soon. Stewart may well have famously sung the lyric: 'You're Celtic, United but baby I've decided you're the best team I've ever seen." As Lawwell noted the rock star is heavily involved with the Celtic Charity Foundation but it's clear to see the fortunes of the club remain firmly in his heart and soul.

Lawwell said: “Rod does donate a lot towards the foundation. A lot is going on behind the scenes. I’m not sure he’d be interested in investing in the football club. But kindness and generosity for the Foundation is appreciated.”

Never mind the Corleones. There is no family like The Celtic Family. As Rodgers is fond of saying these days: 'Celtic are in a good place'. The club are winning both domestically and in Europe. The annual Celtic AGM proved conclusively that both on and off the park the club is producing results.

For the men in suits and those in the club tracksuits: "It's nothing personal. It's strictly business."