Best signing ever: Celtic have signed their dream player

Best signing ever: Celtic have signed their dream player

CELTIC are a big fish in a small pond and their dominance of the Scottish football landscape has arguably never been greater. They are successful on the pitch, they have phenomenal support and they have left their rivals scrambling in their wake. Celtic, although they will refuse to admit it, need a successful Rangers to make the Scottish Premiership more competitive.

 

Celtic have just announced their financials for 2023-24 and they are more than respectable. Revenues were up by almost 4% to a record £ 124.6 million, thanks to higher participation fees from UEFA, and they made a pre-tax profit of £ 17.8 million. Celtic’s revenues were £ 40 million higher than Rangers’ £ 84 million in 2022-23 and the differential is likely to be around the same in 2023-24. Their profit was down by some £ 23 million on 2022-23, partly due to a lower level of income from player sales (£ 6.6 million versus £ 14.4 million), but it was the third successive year of profitability.At the same time, the club’s expenses were up by £ 10 million to £ 106 million, which included players’ wages. The club also spent cash on the redevelopment of their Barrowfield Training facilities and around £ 16.6 million in the transfer market. Despite higher expenses, the club has a very healthy bank balance, with a cash balance of £ 77 million.

 

Celtic’s earnings comprised £ 49.9 million from matchday income, commercial activities of £ 30 million and £ 44.5 million from broadcasting. Scotland’s TV deal lags behind the top leagues in Europe by some distance.

 

The club’s transfer market presence dwarfs the rest of Scottish football. According to Transfermarkt, in 2023-24 they spent € 25.86 million but they had € 46 million of income from sales. Player trading is an increasingly important aspect of Celtic’s business model. In five seasons, they have spent € 127 million and recouped € 142 million in the market. In 2023-24, they signed a cluster of players, including Maik Nawrocki (Legia Warsaw), Luis Palma (Aris Thessalonika), and Nicholas Kühn (Rapid). Most of Celtic’s acquisitions were very young, in their early 20s, which is clearly aimed at future player trading.