PAISLEY, SCOTLAND - AUGUST 25: Celtic CEO Michael Nicholson during a William Hill Premiership match between St Mirren and Celtic at the SMiSA Stadium, on August 25, 2024, in Paisley, Scotland. (Photo by Craig Williamson/SNS Group via Getty Images)
The Celtic Fans Collective has reacted to the publication of the Annual Report for 2026.
Turnover was down by £32.6 m with a loss of £4.8m reported on the back of a profit of £33.9m for 2025.
In most circumstances those sort of figures would prompt root and branch reviews but the Celtic executives seem immune to scrutiny.
After three seasons of Champions League riches Celtic had to settle for second prize with Europa League football last season.
This season Celtic have again failed to reach the Champions League with the route to the big time about to get much tougher for the SPFL Premiership winners.
Last season’s failure against Kairat Almaty was the catalyst for the formation of the Celtic Fans Collective.
The newly formed group had two meetings with the club last season but in reality nothing has changed inside the club.
All of the problems and issues that prompted the Collective into life remain, some fans would suggest that the the problems have now intensified.
The stark reality is that Celtic FC is underachieving across the Club and the trajectory is alarming. We have highlighted the signs of this decline since our formation. We will continue to hold the Club to account and fight for the standards that the Celtic support deserves (2)
— Celtic Fans Collective (@CFC_Collective) September 23, 2026
CELTIC FANS COLLECTIVE STATEMENT
Anger at recent shambolic results on the park in big games was compounded yesterday by Celtic plc latest financial results.
The statements from the ‘interim’ Chairman and CEO typically lacked humility and did little to improve the mood. Supporters are not fooled.
The stark reality is that Celtic FC is underachieving across the Club and the trajectory is alarming.
We have highlighted the signs of this decline since our formation. We will continue to hold the Club to account and fight for the standards that the Celtic support deserves.
Celtic Fans Collective representatives met with Celtic FC yesterday to discuss the Club’s fan engagement strategy.
We also the took opportunity to express the deep frustration at the continued mismanagement of the Club. A full update will be shared with members shortly.
The Collective met with two Celtic employees on Tuesday to discuss Celtic Connect.
Communication with supporters is obviously important but far from the critical issue at this moment.
Four successive poorly delivered transfer windows has led the squad threadbare of talent with few of the new signings making a positive impact.
It seems that no-one inside the club accepts responsibility for these issues. Over the course of the last 12 months Brendan Rodgers has resigned with Wilfried Nancy and Paul Tisdale sacked.
The names of the Executives rarely change with Nicholson having completed five full years as CEO.
A fuller breakdown of the figures are expected next month with the AGM likely to be held in November.
Unless something dynamic happens it looks like business as usual with O’Neill hosting his usual media duties on October 9.
What should Celtic Fans Collective do with Not Another Penny?
CONTINUE- This is the main way to protest
SUSPEND- Let us see what Celtic Connect produces
ABANDON- No longer required or useful
Empty Seats.
The disappointing financials indicates that the plc without CL participation is a loss making business.
The business is not growing sufficiently to cover increasing operating costs and still generate a reasonable profit.
The CL revenues should be regarded as a ‘bonus’, especially with the additional CL qualifying rounds in future years.
Yes, there is a substantial cash pile currently – but does DD have the people in place who can develop and grow the business, to make a profit when CL revenues are absent?
If not, then now ‘could’ be an ideal time to sell up?
But the emotional pull / the social status the club provides may be difficult for DD to give up…?
The plc continues to underperform.
In hindsight, BR’s last CL run to Bayern could turn out to be the club’s European highpoint for many years to come…
The share price remains depressed today, [down c.25% since June],
which suggests that there is no, new potential buyer snapping up shares in the club – currently.
Looks like merchandising and retail down (commercial operations) down from £36,105,000 to £31,713,000…
They’ve taken a fair hit in the balls from shirt sales but hidden the exact this way !