Kieran Maguire: Celtic to make '£20m' announcement amid 'big-ticket' transfer claim
Celtic are on course to announce a profit of around £20million when they release their financial results for the 2021-22 campaign.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest news from behind the scenes at Parkhead.
Celtic reclaimed the Scottish Premiership crown and won the League Cup in their first season under Ange Postecoglou in 2021-22.
It was also the first campaign when fans were readmitted to Celtic Park after an almost two-year shutout as a result of the pandemic.
As relayed by the Morning Star on Wednesday (22 June), Celtic have announced that they have performed “significantly” above market expectations as Covid restrictions were lifted.
The Hoops’ coffers were also boosted by the summer sale of French striker Odsonne Edouard, 24, to Crystal Palace in a deal that Football Insider revealed could land them as much as £20million with add-ons.
Subscribe to Football Insider TV now
And Maguire anticipates that the “big-ticket” transfer means the Glasgow giants are likely to announce a healthy surplus when they release their annual results.
“They are due to release their annual results around September time,” he told Football Insider’s Adam Williams.
“Celtic have an interesting business model in the sense that they normally break even. Their player trading model then can allow them to make a profit.
“They might have one big-ticket sale per summer. They sold Odsonne Edouard last time out. I don’t think, therefore, that it would be a huge surprise to see them post a £20m profit, or somewhere in the region of that.”
Celtic begin their pre-season fixture programme against Czech Republic side Banik Ostrava on 13 July.
They also face Blackburn Rovers and Norwich City ahead of the 2022-23 campaign.