Celtic land £77m boost after record-breaking reveal – sources

Following the release of their most recent financial statements, Celtic’s bank account balance jumped by about £5 million, according to sources who spoke with Football Insider.

The Scottish winners revealed their 2023–24 financial statements on Monday, September 16, revealing that their cash at year-end increased from £72.3 million in 2022–23 to £77.2 million in the previous campaign.

Celtic chairman Peter Lawwell disclosed that the pay and transfer spending on the team meant that the increase was less than it could have been.

In addition, revenue for the Glasgow giants increased by 3.9% from the previous year to a new club high of £124.6 million.

The fact that Brendan Rodgers’ team won the Scottish Cup, the Scottish Premiership, and qualified for the Champions League made sure they turned a profit for the third consecutive year.

However, their pre-tax profit decreased to £17.8 million from £40.7 million in 2022–2023; this was mostly due to a £10 million rise in operational expenses.

Celtic’s financial advantage over Rangers is growing.

Despite earning £6.6 million from player sales last season—a decrease from £14.4 million the year before—Celtic wasn’t quite as successful in the transfer market.

After Rodgers returned to the team, they spent £16.6 million on new players, with Maik Nawrocki and Luis Palma being two of the most costly.

 

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But during the previous few years, Celtic has maintained its strong performance both on and off the field.

On August 23, Football Insider reported that the Scottish powerhouses had blown English Premier League teams out of the water and were now recognized as the best-run club in the country.