Celtic are on course to post a RECORD turnover according to Fergus McCann’s former right hand man David Low.
A private financial analysis from Canaccord Low has been able to pore over predicts Celtic is on track to report income of £112 million for the fiscal year ending in June 2023. A quite astonishing figure.
When Fergus McCann saved Celtic in 1994 when they minutes away from going out of business, David Low was his right-hand man. Low examined Canaccord’s data, and it’s evident Celtic are in an incredibly strong place and make for depressing reading for any rivals of Celtic on the domestic front.
Low notes that Celtic’s turnover of £112m would be a new record, largely due to their participation in the lucrative Champions League. He also discusses the potential for Celtic to use this financial success to their advantage in European competitions.
Additionally, Low comments on the impact of Celtic’s financial success on the Scottish game, comparing their current position to that of David Murray’s Rangers in the 1990s – revealing the gap between Celtic and the current Ibrox club would be larger than Murray’s club when Celtic were on their knees.
Speaking to Graham Spiers Podcast, Low commented: “Should they hold on to their nine-point lead in the Premiership, that looks like being matched or more likely bettered next season because winning the title will see them automatically qualify again and there is an extra group match in the new-look competition.
“The outlook for Celtic is compelling and gives the club the opportunity to put that money to good use in Europe. Canaccord are clearly impressed by the potential to grow that income, otherwise they wouldn’t have recommended their clients should buy shares, which they evidently believe are undervalued at today’s price.
“As to how that impacts the Scottish game, it means that Celtic are currently further ahead of Rangers financially than David Murray’s Rangers were ahead of the old board when Celtic almost went bust in 1994.”
Celtic’s position coming out of the pandemic is incredibly strong. There was a point during lockdown when they were refusing to hand low cost contracts to players and letting them go because of the financial uncertainty during the tumultuous period.
Emerging from the lockdown season, Celtic are thriving with season tickets remaining in high demand, match day revenue up and Champions League participation.
The reason behind a lot of this success is the decision to appoint Ange Postecoglou. A decision that should be applauded because despite revisionism, there was huge swathes of our support who couldn’t believe Celtic were going for a relatively unknown manager on this side of the world.
Over and above that, we are run very well. Our transfer model to buy low, develop and sell high continues to be a major strength and a necessity for a club playing in the SPFL.
