Football

Great News For Celtic Which Underlines Worth Of The Champions League Group Stage

Great News For Celtic Which Underlines Worth Of The Champions League Group Stage

The importance of reaching the group stages of the Champions League is underlined by Celtic's interim report for 2016-17.

Revenue for the latter half of 2016 hit £61.2 million (€70.94m). This is an increase of 95% on the interim report figures at the end of 2015.

Effectively, Celtic's revenue for 2016-17 is almost double what it was the same stage of last season.

Not only that but Celtic have already generated more revenue than the group did for the whole of the 2015-16 season (52 million).

This was achieved despite the decline in revenue from the sale of players.

 

The club's former Chief Executive Fergus McCann - underappreciated and the object of some frustration during his reign but now venerated as a saviour - always impressed upon the board the importance of turning a profit.

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The club have reported a pre-tax profit of £18.8 million. They have reported net cash in the bank of £18.8 million. This is £11 million more than was reported the previous year.

Progression to the Champions League group stages does not account for the totality of the increase, with an increase in season ticket sales and greater matchday revenue also factored in.

Chairman Ian Bankier did offer this expected proviso.

Looking forward, and entirely in line with our trading seasonality, we do not expect the same level of financial performance in the second half of 2017. In this period we will play fewer home fixtures and no European games.

Still. No wonder they were able to turn down all that money for Moussa Dembele.

Read more: 5 Of The Biggest Bottle Jobs In The History Of Sport

Conor Neville
Article written by
Perennial finalist in stand-up comedy competitions and former Contract Lawyer/ Coal Salesman with Corless, Corless and Sweeney

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