Celtic have announced pre-tax profits of £27.6m for the six months to the end of December 2021.
The hoops staggeringly good financial position is down, in large part, to major player sales.
Edouard, Ajer, Christie all contributing to the profit made by the club.
A statement from Celtic chairman Ian Bankier said: The major factors driving the much improved financial performance for the period under review were: first, the return of fans to the stadium driving crucial match day income; second, our qualification for another season in the Europa League with the accompanying ticket sales that were absent last year; and third, the revenues received from successful player trading.
“Notably the sales of Odsonne Edouard and Kristoffer Ajer. In the same period we made substantial investments back into the player squad in order to target the football success that drives our financial success.
“Whereas the Covid-19 environment has improved markedly, the sudden emergence of the Omicron variant and resultant reintroduction of temporary societal restrictions in Scotland adversely affected the football sector.
“This demonstrates our continued sensitivity to the threat of the pandemic. Mindful of the risks posed to the club’s finances from further restrictions, we continue to manage the business on a prudent basis, balanced against the benefits of investing in the football department.”
Celtic turning a profit despite the troubles of the pandemic and in the midst of a rebuild is quite something.
Selling major assets and replacing them with players who are excelling for much cheaper transfer fees has to be applauded.
There are no dodgy loans or shares being made into useless confetti. This is a well run football club that’s continually backed by its supporters.
The fees paid for Hatate, Maeda and Ideguchi will not show on the accounts. The three of them were signed at the beginning of January with Maeda’s deal being a loan with an obligation to buy. Matt O’Riley’s transfer will also not be showing but as we know, that’s a similarly small outlay.
