Supporter impact, Ange effect; 3 big takeaways from Celtic's healthy interim financial results
Celtic have announced the club’s interim financial results for six months to December 31st 2021 this evening. To say everything looks healthy is an understatement.
The club’s revenue has increased by 29.9% to £52.9m with a trading profit of £7m, compared to a loss of £0.3m in 2020.
With the profit from player sales close to £26m however, the overall profit before taxation stands at £27.6m.
It leaves a period net cash at bank of £25.6m, up from £19.7m.
But what does it all mean and what does it all say about this current Celtic project under Ange Postecoglou?
Fans are the lifeblood of the club
In a post-pandemic world, Celtic welcomed supporters back to Paradise and it has clearly had a significant impact on the financial health of the club.
Supporters aren’t just the cultural lifeblood of the club, but also its key driver in terms of cold hard cash.
Celtic cite match day income and ticket sales from a pulsating UEFA Europa League group stage campaign as key reasons for the improved financial performance. It’s a power the support should never forget it has.
This allows the board to run the club within its means sensibly, before even thinking about the money-spinning profits that can be made from player trading.
If the Celtic board keeps the supporters entertained and engaged, the club has an underpinning financial stability that bodes well for the future.
Stunning player trading
Celtic’s rebuild was no joke. Ange Postecoglou was tasked with building a squad on a budget while saying goodbye to previously key players such as Kristoffer Ajer and Odsonne Edouard.
For the Bhoys to have made a massive profit on player trading in this context is impressive. Postecoglou has built a title-contending squad that has the hearts and minds of supporters without materially impacting the financial health of the club.
The manager deserves much credit here. But so do the board. Michael Nicholson and his team have backed Ange in many ways this season and also deserve praise for overseeing a large scale rebuild while still making impressive profits on player trades.
With a young, developing squad, Celtic are primed to move to the next level on and off the pitch.
Unity is blockbuster stuff
For me, too often the board is pitched against the fans when it comes to what makes Celtic a success. I do believe supporters should have a greater say in big decisions that impact the club. I also think the failure to secure 10-in-a-row was a dereliction of duty from the position we were in.
However, the interim results clearly show that the Celtic support and board both heavily impact the forward direction of the club. Fans provide cash and if the board spends it wisely, this club has huge potential.
It’s not about board vs fans, it’s about finding common ground for the betterment of Celtic. With a bit of unity, magic starts to happen at Celtic and these interim results are proof of it.
In other news, Sky Sports finally respond to Kris Boyd’s controversial comments about Celtic captain Callum McGregor.