Booming Celtic cash reveal blows football finance expert away as he has hunch where money will be spent
An expert has been astounded by how financially superior the Hoops are.
According to a leading football money specialist, Celtic is ready to start making numerous off-field improvements after rising to a different financial echelon than its Scottish Premiership opponents.
The Parkhead club has an amazing £77 million in the bank, which is £75 million more than its rivals Rangers, according to their annual reports. Additionally, they are getting stronger as more money from the Champions League is coming in.
A football business expert’s account”Is having so much money in the bank unusual, and will it only get bigger with this year’s Champions League boost? In The Swiss Ramble’s most recent piece regarding Celtic’s financial prosperity, one Hoops fan asked, “Is now the ideal time for infrastructure (stadium) work covering the next 40-50 years?)…”
“Celtic’s financial results were indeed very good, as they posted a £17.8m pre-tax profit (£13.4m after tax),” the site wrote in its analysis of the most recent figures. Although, to be fair, that was a record for Scottish clubs, this was a £22.9 million decrease from the previous year’s enormous £40.7 million profit.
More money from the Champions League was the primary driver of Celtic’s revenue growth, as broadcasting increased by £5.2 million (17%) from £31.2 million to £36.4 million. Due to improved retail performance, commercial also increased by £0.9 million (2%) from £37.7 million to £38.6 million; however, match day saw a decline of £1.4 million (3%) from £51.0 million to £49.6 million.
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