Revealed: Celtic blow Rangers away after record-breaking update
Celtic have once again blown Rangers away financially after the Old Firm rivals have released their accounts for last season.
Celtic posted a new club-record revenue in 2024-25 after their turnover increased from £124.6million in 2023-24 to £143.6m.
Rangers also generated a record revenue, with their turnover improving from £88.3m to £94.1m at Ibrox.
However, it means Celtic have strengthened the financial gap between themselves and Rangers.
The Parkhead club benefitted from playing Champions League football last season, ensuring their turnover was almost £50m more than their Glasgow rivals.
How much did Celtic and Rangers earn from Europe?
Celtic were expected to smash their club-record revenue following their exploits in the Champions League last season, where they reached the knock-out round play-offs before being narrowly beaten by Bayern Munich.
That run provided Celtic with an extra £38m in prize money due to the riches on offer in European football’s premier club competition.
Meanwhile, Rangers banked around £17m from the Europa League after reaching the quarter-finals of the competition before being knocked out by Athletic Bilbao.
The Old Firm rivals are both competing in the Europa League this season after failing to progress through the qualify rounds of the Champions League.
It’s been all change in Glasgow over the past few weeks, with Danny Rohl appointed as the Rangers manager and Brendan Rodgers leaving his position at Celtic.
How much do Celtic and Rangers pay on wages?
In terms of the other key financials in their accounts, Celtic recorded a £33.9m profit after tax and went into the latest summer transfer window with £77.3m of cash assets.
Rangers continued to face financial challenges across the campaign, but their losses dropping slightly from £17.2m in 2023-24 to £14.8m last season.
On a more positive note, the Ibrox side’s cash balance increased from £1.7m to £30.5m across the same period.
However, the £20m injection from Rangers’ new owners after completing their takeover in May provided the club’s coffers with a significant boost.
Celtic continue to pay their players higher wages, with their wage bill rising from £65.6m to £74.8m after claiming a fourth Scottish Premiership title in a row.
Rangers, who finished second in the table, saw their wage bill fall from £61.2m to £57.8m last season.
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