Celtic break UK£100 million barrier with record revenues

Scottish soccer giants attribute figures to second successive treble.

Celtic break UK£100 million barrier with record revenues

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Scottish soccer club Celtic have announced their highest-ever financial revenue, totalling UK£101.6 million in the 12-month period to the end of June 2018.

The figure is a 12 per cent increase on the previous year as their domestic success on the pitch continued under manager Brendan Rodgers.

Celtic secured a second successive treble-winning season in Scottish football by successfully defending the Premier League, SFA Cup and League Cup titles they won in 2017.

Celtic chairman Ian Bankier said the figures reflect “a year in which everything went well” despite limited success in Europe, highlighting the Glasgow side’s cash reserves of UK£27 million as a sign of their ‘self-sustaining’ financial model in order to manage the fallout from not qualifying for the group stages of the Champions League.

However, domestic success has brought financial respite, with player sales alone bringing in UK£16.5 million – which does not include the sale of striker Moussa Dembele to French club Lyon for a fee of nearly UK£20 million in late August.

Last summer’s UK£16.6 million expenditure on players was offset by UK£16.5 million in sales – including a 10 per cent sell-on fee accrued after the sale of former defender Virgil Van Dijk from Southampton to Liverpool– who moved for UK£75 million.

Competing in Europe’s premier club competition has been the club’s only on-pitch blemish since Rodgers took over in 2016, having not surpassed the group stage of the Champions League for five years.

Having to settle for a place in the second-tier Europa League this season, Celtic got their campaign underway with a hard-fought 1-0 victory over Norwegian club Rosenborg on Thursday night.