Celtic land stunning £28m windfall - confirmed
By Richard Parks
Celtic’s participation in this season’s Champions League has earned them £28million, according to confirmed Uefa figures.
Football finance expert Swiss Ramble has crunched the numbers for the Scottish giants as well as each of England’s five Premier League clubs as a result of their Champions League participation in 2017-18.
In a series of Twitter messages on Friday morning, the respected blogger reported that Celtic’s participation in the group stage of Europe’s elite competition has netted them 31.7million euros (£28million).
As well as the direct impact that dropping out of the Champions League has on #AFC revenue, it also means that rivals benefit. For example, #THFC have already earned €62m for reaching the last 16, which will increase if they progress any further in the competition. pic.twitter.com/jpNl4ZSuA0
— Swiss Ramble (@SwissRamble) March 2, 2018
Celtic got eliminated at the group stage after failing to progress in the face of competition from European giants Paris Saint-Germain and Bayern Munich.
But they finished third to secure a place in the Europa League knockout stages, with their participation ending at the last-32 stage following defeat to Zenit St Petersburg last week.
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Celtic have earned 12.7million euros for participation in the Champions League, prize money of 3.6million euros and 15.4million euros from their share of the TV pool.
Swiss Ramble’s figures are calculated from official Uefa data.
Football Insider verdict:
Given that Celtic earned a total revenue of £90million for the year ending June 2017, participation in the Champions League represents a third of their annual income and is crucial to their business model. Supporters will wonder how such strong numbers, coupled with the £6.9million pre-tax profit posted last year, squares with such an unambitious recruitment policy. How can a club with supposed ambitions of an extended European run not invest significantly in January, especially after Brendan Rodgers had claimed the winter window is more important in Scotland than the summer one. Clearly, the money is in the bank. Why was it not spent on improving a squad that has not run amok this season as it did last.