Celtic have received a payment from the SPFL of almost £500,000 in respect of their league placing.
Last season the hoops picked up £3,350,000 for winning the title with today’s payment the second of three payments made during the course of the season with the last payment dependent on the final league position.
Celtic haven’t had a home match since March 7 with Ann Budge revealing in a statement today that the SPFL has privately warned clubs that there is unlikely to be a resumption in football before the end of July.
Although Celtic have less than 10,000 tickets for sale on a matchday there is income to be gathered from merchandise sales, catering and hospitality.
Explaining today’s pay-out the BBC website reports:
Payments due to be paid in April have begun to appear in the bank accounts of each of the clubs, many of which are suffering financial difficulty.
The top three in the Premiership – Celtic, Rangers and Motherwell – will receive £395,000 plus VAT. The rest of the top-flight clubs will get £157,500 plus VAT.
The payments dip significantly down the divisions. Championship clubs are due to be paid £26,500 plus VAT, League One clubs £2,700 plus VAT and League Two clubs £1,350 plus VAT.
Today’s payments will have arrived just in time for most clubs making their March payroll.
Hearts have announced that they will be imposing a 50% pay cut from next month with Aberdeen warning that they have outgoings of £1.2m a month with very little income expected in the coming months.
CLICK HERE for the SPFL 2018/19 pay-out list.