Celtic land £40m boost as new paperwork filed – sources
Celtic’s pre-tax profit increased to almost £44million in the first half of the 2024-25 financial year despite suffering a fall in revenue, sources have told Football Insider.
The Scottish champions posted their interim report for the six months up until 31 December on Monday (10 February), showing their profit before tax surged from £30.3million across the same period in 2023-24 to £43.9million.
The Glasgow side also revealed their profits from player sales rose from £2.6million to £21.5million following the departures of Matt O’Riley, Bosun Lawal, Tomoki Iwata, Michael Johnston, Yuki Kobayashi, Daniel Kelly and Hyeongyu Oh.
Celtic suffered a minor hit in revenue in the first half of 2024-25, with their turnover falling from £85.2million to £83.5million.
The club’s stadium operations revenue increased from £29.8million to £31.6million, while their commercial revenue dropped from £37.2million to £33.8million and merchandising slipped from £18.3million to £18.1million.
Chairman Peter Lawwell revealed he expects their total financial performance up until 30 June to be significantly lower than the result posted in the first six months of the year.
Celtic’s latest full-year accounts for 2023-24 showed their overall revenue increased from £119.9million to a new club-record figure of £124.6million.
Celtic suffer £12m hit after summer spending spree
Football Insider revealed on 18 September Celtic had landed a £5million boost after their cash in the bank rose from £72.3million in 2022-23 to £77.2million at the end of last season.
But the latest accounts show their cash reserves are now down to £65.4million – a slight drop on the £67.3million they posted in the first half of 2023-24.
Lawwell revealed that was driven by their significant summer spending, having broken their transfer record twice.
The signings of Arne Engels, Adam Idah, Auston Trusty, Paulo Bernardo, Luke McCowan, Viljami Sinisalo, Kasper Schmeichel and Alex Valle increased their transfer spend from £12.9million in 2023 to £28.1million.
Celtic have landed guaranteed £38m windfall after stunning twist
Celtic played 14 home games in the first half of this financial year and claimed the Premier Sports Cup trophy after beating Rangers on penalties.
Brendan Rodgers’s side are also firmly in control of proceedings in the Scottish Premiership after building up a 13-point lead over their Old Firm rivals at the top of the table.
They are now preparing to face Bayern Munich in the Champions League knockout play-off round, with the first leg taking place at Celtic Park on Wednesday (12 February).
Football Insider revealed on 23 January Celtic have landed a guaranteed £38million windfall after progressing through the revamped league phase of the European competition.
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