Maguire shares £22m Celtic reveal amid 'highest in Europe' claim
Celtic have money in the bank and will have no cash flow issues should fans choose to temporarily boycott the club.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively with Celtic’s manager hunt not yet finalised.
In an official statement on 27 May, prominent supporters group the Green Brigade called for fans to hold off renewing season tickets to protest the situation.
We share the frustration of many around the season ticket launch and plan to consult NCC members asap.
We'll also speak with other fan orgs to discuss a joined-up approach.
In the meantime, we'd encourage all in the North Curve to hold off renewing their season ticket.
— North Curve Celtic (@NCCeltic) May 27, 2021
It looks as though a new manager will soon be instated after this site revealed on Thursday that Celtic agreed a compensation fee with Ange Postecoglou’s club Yokohama F. Marinos.
But the club is clearly wary of how the 102-day wait to appoint a new boss might affect sales as they addressed the issue in their season ticket rollout statement on 26 May.
However, Celtic are insulated from real financial harm because of their stockpile of cash in the bank, explains Maguire.
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He told Football Insider correspondent Adam Williams: “I don’t think it will do huge damage to Celtic.
“It shouldn’t do anything besides cause a mild irritation because Celtic have a very strong balance sheet.
“If we take a look at Celtic’s most recent balance sheet, they had £22million of cash in the bank at the end of the 2019-20 season.
“Now, it will have been a challenging year for them because just like all clubs they’ve missed out on matchday revenue.
“Of Celtic’s revenue, 50 per cent comes through the turnstiles and it’s 60 per cent for Rangers.
“Those are probably the two highest for what you might call ‘the big clubs in Europe’. To put that in perspective, it’s six per cent at Everton.”
In other news, this is the real reason Eddie Howe snubbed the Celtic job.