Dave King has told newspaper reporters that he steps down as Ibrox chairman with ‘revenue streams pretty much the same as Celtic’.
That isn’t a statement that you are likely to see in any auditors report any time soon. Celtic’s income in every area is vastly superior to the figures recorded by King’s club.
Scottish clubs bring in money from a couple of sources the main one being ticket sales. After that the bulk of income comes in from sponsorship deals and retail/merchandising. Additionally player trading can be profitable but isn’t reliable, it can’t be factored in on a yearly basis.
Last season both Glasgow clubs took part in the group phase of the Europa League, Celtic achieved a turnover of £83.4m, across the city they reported £53.2m. A difference of £30.1m, 57%.
A year earlier Celtic had turnover of £101.5m, in the southside of the city it was £32.6m. To quote a previous chairman for every pound earned at Ibrox Celtic brought in £3.
In his departing interview to newspapers King told The Scotsman:
If you look at the revenue streams, the commercials sales, season ticket sales, we’re pretty much the same as Celtic. If you take where we were five years ago and where their commercial revenues were, remember we were in the Championship, right now we are exactly there with them. The advantage Celtic have got at the moment is they’ve had a good track record of player trading.
At the end of this season Celtic will begin a new merchandise contract, across the city Sports Direct will decide which kit will be worn with the Hummel deal ending a year early following a Court Order.