Celtic Park

Next Game

Celtic v UMF Stjarnan

Wednesday, 15 July 2015, 19:45

Champions League Qualifying Second Round

Euro progress benefits Celtic

Celtic have announced a pre-tax profit of £15m having qualified for the last 16 of the Champions League.

Last Updated: 11/02/13 at 17:30 Post Comment

Success in the Champions League has helped Celtic rake in the funds

Success in the Champions League has helped Celtic rake in the funds

The Bhoys go into battle with Juventus on Tuesday safe in the knowledge they have all-but wiped out their bank debt by reaching the knockout stages.

The club's interim report confirmed the bank debt as just £130,000 compared to £7m just 12 months ago.

During the Hoops run in the tournament, their turnover increased to just over £50m (a rise of 71%) with operating expenses up by 30% to £37m.

The six-month period in question saw Celtic play 19 home games, three more than the previous year.

It also witnessed the Hoops stage three Champions League group matches, more than offsetting the loss of income from games against liquidated-hit Rangers who now play in the third division.

Chairman Ian Bankier said the return to the latter stages of the Champions League had played a massive part in the huge hike in figures.

A breakdown of the income showed 'multimedia and other commercial activities' had raised £21.6m, up from £5m on the same period in 2011.

Revenue from 'football and stadium operations' (£18.6m) and 'merchandising' (£9.8m) both jumped by around £2m.

The champions also made an increased profit from transfer activity, which centres on buying young talent with a sell-on potential, despite maintaining spending levels at about £4.5m.

"Such investment and player development initiatives have enhanced profitability, with a profit from transfer activity of £5.2m, largely as a consequence of the sale of Ki Sung Yueng to Swansea, in comparison to £3.15m last year.

"Our success on the park and the maintenance of our robust business model has provided stability in a challenging environment.

"The second half of the 2012/13 financial year is expected to follow a similar trading pattern to recent years, but buoyed by onfield success including participation in the UEFA Champions League."

Related News

Most Commented

Readers' Comments

D

on't go to England at your age, you'll either be mugged or not appreciated. Or made to lump the ball long to a bloke who looks like a mascot.

megabrow (cufc)
Beckenbauer warns Schweinsteiger

F

rom the headline I presumed he meant boots, pants, jim-jams, toothbrush and paste, passport, tickets, premier inn long-term package, Scouse-English-Portuguese-German dictionary, 'How to be a 9 and 3/4' by B. Rodgers, few dozen tins of food and Evian because you can never be sure about the local food/water...

KevinBoatang
Firmino has 'everything' for PL - Willian

H

e looked like he was playing with a plastic pound shop ball in the wind against Juve, his passing was so bad.

paddy7s
Sergio Ramos: Exactly What United Need

Footer 365

Sergio Ramos has refused to discuss interest from Manchester United

Real Madrid defender Sergio Ramos has raised further question marks over his future after a coy response concerning interest from Manchester United.

Van Persie 'agrees Fenerbahce terms'

Manchester United striker Robin van Persie is close to joining Fenerbahce after reportedly agreeing terms with the Turkish club.

Roma keen to sign Man City striker Edin Dzeko but admit a transfer is not close

Roma have confirmed their interest in signing Manchester City striker Edin Dzeko this summer - but admit a deal is some distance from being agreed.

Mail Box

Has Everyone Forgotten About Khedira?

Sami Khedira is one of the signings of the summer and yet he's flown completely under the radar. Plus Dommy S's views of women's football get a right old shoeing...

Women's Success Won't Alter Viewing Habits

The Women's World Cup hasn't inspired everyone. Also in the Mailbox: a plastic's guide to Brazil, Nani regrets, tears over Henry, and The Beach Boys...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company