Celtic are primed to start splashing out on multiple upgrades off the park after moving into a different financial stratosphere to their Scottish Premiership rivals, according to a top football money expert.
The Parkhead club’s annual results showed they had a staggering £77million in the bank - £75m more than trailing rivals Rangers - and they are going from strength to strength with another season of Champions League money coming in. Football business expert account The Swiss Ramble penned their latest column on the financials success of Celtic with one Hoops fan asking: “Is it unusual to have so much cash in the bank and with that only going to increase significantly with this year’s Champions League uplift is it the ideal time for infrastructure work covering the next 40-50 years)?”
The reply came: “Yes, it’s really large. One of the club’s arguments is that it will be used for infrastructure investment . That said, this was down £22.9m from the previous year’s huge £40.7m profit, though in fairness that was a record for Scottish clubs. “The main reason for Celtic’s revenue increase was more money from the Champions League, which resulted in broadcasting growing £5.2m from £31.2m to £36.4m. Commercial also grew £0.9m from £37.7m to £38.6m, thanks to stronger retail performance, but match day fell £1.4m from £51.0m to £49.6m.”