Celtic have recorded a profit of £7m for the first six months of the year despite the cost of a complete overhaul of the first team squad.
Ange Postecoglou fielded nine of his signings in the recent Glasgow derby where a 3-0 victory took the hoops to the top of the table. The rebuild was financed by the sales of Kris Ajer and Odsonne Edouard to the EPL with both players in the final year of their contracts.
The first six months of the season is traditionally the time when income is at its highest, since the accounting date of December 31 Reo Hatate, Daizen Maeda, Yosuke Ideguchi and Matt O’Riley without any one leaving.
Transfer income alongside the return of fans plus matchday hospitality has contributed greatly to the accounts under a new first team manager and Chief Executive.
The key financial details listed in the report are:
Revenue increased by 29.9% to £52.9m (2020: £40.7m).
Profit from trading was £7.0m (2020: loss of £0.3m).
Profit from transfer of player registrations (shown as profit on disposal of intangible assets) £25.8m (2020: £1.0m).
Profit before taxation of £27.6m (2020: loss of £5.9m).
Acquisition of player registrations of £16.8m (2020: £12.7m).
Period end net cash at bank of £25.6m (2020: £19.7m).
With fans back Celtic can expect an uplift in retail income and related commercial activities but the destination of the SPFL title will dominate every aspect in the second half of the year.
Winning the title will almost certainly guarantee a place in the group stage of the Champions League which could bring in the best part of £40m.
Runners up will again provide a qualifying route to the Champions League with a very strong prospect of at least a place in the group stage of the Europa League.
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Time to kick on now and get the champions league bounty. With our current squad, I believe that would set us on the road again to be a force in Europe let alone winning the Spl.