Celtic may be in a healthy financial position, but that doesn’t mean that all is well at the club.
A wave of Celtic fan protests has dominated conversation this season, as fans’ patience with the club’s hierarchy has run out.
In a crucial summer transfer window, crucial business wasn’t completed quickly enough (or in some cases at all), leading to a disastrous Champions League exit to Kairat Almaty.
Brendan Rodgers eventually left the club amid clear tensions over recruitment and investment, and protests have only intensified.
The club don’t really have an excuse – not least because it isn’t just them posting record revenues.
Why on earth are the board hoarding so much cash?!
- 2021: £19m
- 2022: £32m
- 2023: £72m
- 2024: £77m
- 2025: £77m
Celtic will benefit from record SFA revenue
Celtic’s most recent accounts were healthy, but they were accompanied by something of a recognition that things hadn’t been adequate in the transfer market.
And we’ve now received an update on the financial position of the league after a new announcement.
READ MORE: Wille Collum’s baffling explanation for Hibs penalty decision vs Celtic as VAR audio released
A new Companies House submission by the SPFL has reported its updated accounts for the financial year up to 31 May, showing a turnover of £50.4 million.
It’s a solid improvement on last year’s turnover of £45.1 million of the governing body, and much of it will be paid out to clubs.
The total figure paid out last year was £35.1 million, and this year is set to be the highest-ever figure given to clubs.
The share per club isn’t made public, but as Scottish Premiership champions, the Celts are likely to get more than anyone else.
So that’s yet more money not to be spent on players in the transfer window…
Surely though, even by Celtic’s standards, the upcoming January market is absolutely crucial in the club’s future, in the short, medium and long term.
With a new manager in the door and struggling, Celtic need to address glaring issues in their squad if they want to give themselves the best chance of retaining their league title.
That’s the only possible way that the club can qualify for the Champions League next season, and the financial benefits of that need no explanation.
You have £20m to spend in the January transfer window. How are you spending it?
Michael Nicholson’s Celtic address
So what’s the Chief Executive thinking? A lot of Hoops fans have already lost faith in Nancy, but shortly before the Dundee United defeat, Nicholson restated his support for the 48-year-old.
He told the Celtic social channels: “It’s not even two weeks ago that we said about Wilfried and his appointment.
“There’s never an easy time to start at Celtic, and it has been challenging. We’ve had some disappointing results, not least on Sunday.
“And in that respect, I understand that the Celtic support are concerned about where we are. I understand and I respect the right of every supporter to express their discontent and share that with us.
“But we know where we want to go, and step-by-step, that’s all of our jobs: to support Wilfried and his team to take us where we want to get to.
“The starting point is now. I met with Wilfried this week to discuss recruitment ahead of the January transfer window, and we’re also looking ahead to the summer transfer window.”
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