Celtic Park

Next Game

Celtic v Ross Co

Saturday, 01 August 2015, 12:45

Scots Prem

Celtic Park

Last Game

Celtic 1 - 0 Karabakh-Azersu

Wednesday, 29 July 2015, 19:45

Champions League Qualifying Third 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

Y

ou can't blame De Gea for wanting to leave, he has enough to do in front of goal as it is as well as taking on the role of Man Utd's version of Derek Acorah in trying to contact and organise a defence that isn't there.

rodger's gusset
Van Gaal downbeat on De Gea

I

f you want to take six points off Arsenal, then that's a great strike force. Can't imagine either of them showing much for the rest of the season though...

foot in mouth
Adebayor & Berbatov: You Have To Admire The Balls

L

ooks like Real get their man, most likely at their own valuation, yet again. Resistance is futile.

paul7702
Van Gaal downbeat on De Gea

Footer 365

Leicester agree club-record fee for Charles Aranguiz

Leicester are discussing terms with Charles Aranguiz after agreeing a club-record £10.5m fee with Internacional.

Andre Pirlo backs Liverpool's Mario Balotelli to prove his potential

Andrea Pirlo thinks Mario Balotelli can still be one of the "top forwards in Europe" despite his struggles at Liverpool.

West Brom reject approach from Aston Villa for Joleon Lescott

West Brom have rejected an approach from Aston Villa for central defender Joleon Lescott, according to reports.

Mail Box

Neville Has It Wrong On Chelsea...

One Mailboxer says that the Neviller has it slightly wrong on Chelsea. Plus thoughts on sexy Saints, pre-season reviews, Connor Wickham and televised analysis...

De Gea Disrespectful? Remember RVP...

We got dozens of mails from people pointing and laughing at Brian D for suggesting David de Gea has acted disrespectfully; we printed some. And there's more...

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