CELTIC have announced a pre-tax profit of £6.1m for the year ending June 2021. The Hoops have released a decent profit as Scottish football emerged from the pandemic. Player sales and match day revenue a big part of Celtic’s income.
Revenue jumped by 45.2% from £60.8m in 2021, to £88.2m.
The Hoops oversaw a massive turnover of staff including the manager. Ange Postecoglou took a team on its knees and made them Scottish Champions in less than a year. The player registration fees coming out at £38.4m. Ian Bankier revealed the acquisitions of Abildgaard, Mooy and Jenz came after the year end and weren’t part of the transfer registrations.
The Ange effect has certainly had a say in why Celtic are posting a profit.
Key Operational Items
- Winner of the SPFL cinch Premiership and qualification for UEFA Champions League group stages in season 2022/23
- Winner of the Premier Sports Cup for season 2021/22
- Qualification for the group stages of the UEFA Europa League for season 2021/22
- 31 home matches played at Celtic Park (2021: 28 games)
Key Financial Items
- Group revenue increased by 45.2% to £88.2m (2021: £60.8m)
- Operating expenses including labour increased by 23.4% to £91.7m (2021: £74.4m)
- Gain on sale of player registrations of £29.0m (2021: £9.4m)
- Acquisition of player registrations of £38.4m (2021: £13.5m)
- Profit before taxation of £6.1m (2021: Loss of £11.5m)
- Year-end cash net of bank borrowings of £30.2m (2021: £16.6m)
What won’t be showing on this year end is the money Celtic will be receiving for their Champions League participation and any bonuses that could follow. The bhoys will get their share of TV pool money along with large gate receipts for three home ties.
Celtic continue to be well run and the best thing is we’ve still turned a profit despite the massive investment in the playing staff. It’s a perfect example of speculating to accumulate. The money raked in for the Champions League will cover most of those transfer fees and the sellable assets the players have become by playing in Europe’s elite competition means the club will make a very healthy profit in the coming years.
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