67 Hail Hail have been able to provide some more clarity on Celtic’s current financial situation thanks to the help of football finance expert, Adam Williams.
Celtic’s board have come under pressure after a summer transfer window where they failed to land many of their key targets while also selling two first-team players.
A vote of no confidence in the board was issued by a number of Celtic Supporters’ clubs, leading to protests during the Kilmarnock game.
The Hoops have plenty of cash in the bank, however, with no Champions League prize money coming in, are things still the same?
Celtic’s cash balance may have dropped without Champions League money
Financial reports have detailed piles of cash in the Celtic accounts and have increased year-by-year, however, Williams reckons that it may drop for the first time in a few years due to a lack of Champions League money, but that doesn’t make an excuse for the spending.
He told 67 Hail Hail: “Celtic had £77m cash in the bank in the last full financial year, which covered the 2023-24 season.
“However, their interim report for the first half of 2024-25 shows that the cash balance actually decreased to around £65m at the last count. Celtic cite transfer spending and infrastructure investment as the reason for the fall.
“Their cash balance will have fallen further in the second half of the financial year too. Why? Because season ticket sales take place at the start of the season, as do the bulk of merchandise sales, payments from sponsors and so on.
“Against that, they have a positive player trading balance in 2025-26 so far, plus all of the early-season earnings over the summer. But then they have no Champions League income.
“Clearly, Celtic make consistent profits at the operating level and that in tandem with player sales has allowed them to hoard cash in recent years. Their cash balance has increased in four consecutive years.
“That said, I think the total cash balance might actually decrease this financial year for the first time in a while. In terms of what this means practically and how it fits with Celtic fans’ frustrations about a lack of ambition, however, it doesn’t really make a difference whether it’s £60m, £70m, or £100m. Ultimately, fans want them to aim higher rather than strengthening the balance sheet. The same logic applies either way.
“From Celtic’s perspective, the rationale is that they need the money to act as a bulwark for years in which they don’t qualify for the Champions League. I can see where they are coming from, but equally you aren’t going to qualify for the Champions League regularly unless you improve the squad that has in the first place failed to get them there. It’s a circular logic.”
Celtic board must listen to fans
Dermot Desmond, Peter Lawwell and Michael Nicholson have come under intense scrutiny, and rightly so.
A lack of clear transparency and communication has meant that the atmosphere has shifted and is almost at the point of no return.
The statement from Celtic angered fans, especially after watching others strengthen while the Hoops tried to lowball others.
January is a chance to show their intent and bring in the targets they want to ensure the club goes deep in the Europa League.
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