Celtic have released their Interim Report for the six months to December 31, 2020.
Operational Highlights
- Currently second in the SPFL Premiership.
- Winners of the Scottish FA Cup (season 19/20) for the fourth season in a row, securing an unprecedented fourth consecutive domestic treble.
- 17 home fixtures (2019: 21).
- Conclusion of the most successful decade in the history of the club with 20 trophies won.
Financial Highlights
- Revenue decreased by 23.7% to £40.7m (2019: £53.3m)
- Loss from trading was £0.3m (2019: profit of £7.1m)
- Profit from transfer of player registrations (shown as profit on disposal of intangible assets) £1.0m (2019: £23.0m)
- Loss before taxation of £5.9m (2019: profit of £24.4m)
- Acquisition of player registrations of £12.7m (2019: £15.0m)
- Period end net cash at bank of £19.7m (2019: £32.9m)
The Celtic chairman Ian Bankier also addressed the support in the statement on Celticfc.com where he acknowledges this season has not been good enough on the pitch.
However, vitally, the chairman doesn’t address the managerial situation at the club. A lot of fans have been awaiting the outcome of a review which was promised towards the end of 2020 which would look at Neil Lennon’s role.
Again; the statement doesn’t address that concern and leans heavily on the loss of fans for many of our woes both on and off the pitch.
The club have reported a loss because of current circumstances along with not selling a marquee player. Bankier admits they consciously kept their prized assets to help win the league this season but it has backfired.
Bankier also thanks the outgoing chief executive, Peter Lawwell and talks up the arrival of Dominic McKay.
This interim report and the statement which it came with will do very little to quell the supporters who want to see real change. The squad of players are just getting by at the moment and the manager has struggled to get them playing this season.
No mention of loss of revenue, because of the fan sponsored ‘Greatest halftime draw on the planet’ has not been successful. Maybe as that is why they have lost most of the future players the fans have paid for. To covid. I’m sure as they pass out of the door at Paradise, they think the same. Well naw dae they fuc&. Not having (or having) covid and it’s restrictions should not affect your long term sporting future. Now they feel as deflated as the fans. Profit before fans or future prospects that must be written into the new mantra by Dick and Dom.