Afrigather Scottish giants Celtic Soccer Membership have introduced a post-tax revenue of £13.4 million for the yr ending June, marking its third consecutive yr of profitability. Whereas pre-tax revenue noticed a decline in comparison with the earlier yr, the membership’s income elevated by practically £5 million to £124.6 million, with year-end money reserves rising to £77.2 million.
On-field success performed a big function in Celtic’s monetary efficiency, with the lads’s staff profitable each the Scottish Premiership and the Scottish Cup, whereas the ladies’s staff claimed their first SWPL title.
Celtic Chairman Peter Lawwell highlighted the membership’s sturdy income progress, stating, “The outcomes for the yr ended 30 June 2024 present a rise in income to £124.6m (2023: £119.9m) with a corresponding revenue earlier than tax of £17.8m (2023: £40.7m).” He attributed the £4.7 million income increase to elements together with greater participation charges within the UEFA Champions League for the 2023/24 season and improved retail efficiency.
The lower in pre-tax revenue, Lawwell defined, was primarily resulting from elevated working bills and a decrease achieve on participant gross sales.
“The £22.9m lower in revenue earlier than tax, though important, was consistent with expectations resulting from a number of recognized and anticipated elements. Our achieve on participant gross sales was £7.8m decrease than the prior yr, and we invested extra into the lads’s staff when it comes to salaries. Rising overhead prices, pushed by inflation, additionally impacted our operations, together with the absence of £13.5m in non-recurring earnings from the earlier yr.”
Throughout the accounting interval, Celtic spent £16.6 million on participant acquisitions, together with the document signing of midfielder Arne Engels. Lawwell additionally highlighted the graduation of capital expenditure tasks, such because the redevelopment of the Barrowfield coaching facility and stadium upkeep efforts.
Because the finish of the accounting interval, Celtic has offered a number of gamers, together with Matt O’Riley to Brighton for a club-record £25 million. The membership’s complete participant spending has amounted to £31.2 million.
Anthony Nlebem
Head of Sports activities at BusinessDay Media, a seasoned Digital Content material Producer, and FIFA/CAF Accredited Journalist with over a decade of sports activities reporting.Has a deep understanding of the Nigerian and international sports activities panorama and expertise in delivering complete and insightful sports activities content material.
