Celtic released a statement to the London Stock Exchange on Tuesday afternoon, announcing that the season’s earnings will be “significantly higher than expected”.
The accounts of the year ending 30 June 2024 will be released in mid-September the club has said.
This success is largely driven by revenues from the Champions League, season ticket sales, and substantial merchandise profits, marking a prosperous phase in the club’s financial trajectory.
However, this financial prosperity brings to light a contrasting issue—the slow pace of summer transfer activity, which has not met the aspirations of many Celtic supporters who are eager to see tangible investment in the squad.
Taking to the London Stock Exchange, the club put out the following statement:
“Celtic has enjoyed a strong on-pitch performance in the 2023/24 football season having won the domestic double. In addition, it has enjoyed a successful year in generating gains from player trading.
“As a result of such gains and a strong end to the season from a footballing perspective, Celtic now expects earnings for the year ended 30 June 2024 will be significantly higher than previous expectations, which were formed before the conclusion of the season and prior to certain player disposals.
“Player registration valuations and player trading can and often do materially influence Celtic’s financial performance in addition to trading revenue. The Summer transfer window is underway and following the closure of the window and the finalisation of the year end balance sheet review, the Club will then be in a position to confirm the extent of its earnings by publishing its results for the year ended 30 June 2024, in line with its usual timetable in mid-September 2024.”
Despite the positive financial news, the timing of this announcement might not sit well with fans who are currently more focused on seeing enhancements to the squad. The club’s financial health is undoubtedly a positive, but there is a growing desire among the fanbase to see these funds used strategically to strengthen the team, rather than merely boosting the financial reports.
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