David Low is predicting that Celtic’s interim accounts, expected to be announced this week will make for bleak reading.
Traditionally the results to 31 December show a healthy profit with Season Ticket money included plus, over the last two years fees for Moussa Dembele and Kieran Tierney and other front loaded payments for the season.
During the summer transfer window Celtic didn’t sell any players with £13m committed on Vasilis Barkas, Albian Ajeti and David Turnbull. Loan fees are also likely on Shane Duffy, Moi Elyounoussi and Diego Laxalt.
Celtic’s interim figures out this week and likely to be poor. Boardroom lapdogs already briefed with the party line?.
— David Low (@Heavidor) February 8, 2021
Low is the Chairman of the Celtic Trust.
The impact of a pandemic and Lockdown will be the biggest issue with no gate money from European ties or match-day income to top up Season Ticket sales.
European travel will be included as will the cost of twice a week testing of the entire playing squad and backroom staff. Had Celtic navigated through three Champions League qualifying rounds they could have expected prize money from UEFA of around £25m, picking up four points in the Europa League will be worth around £4m.
On the plus side there should be some impressive figures coming in from the Adidas merchandise deal but after seeing turnover for the year to 2020 reduced to £70.2m from £83.4m in 2019 the chill of Lockdown is likely to be felt.
During the January transfer window Celtic made a profit of around £8m from the sale of Jeremie Frimpong after a sell-on clause to Manchester City is deducted.