Celtics was able to ensure a $18.2 million pre-tax profit even though their revenue decreased. The Scottish club is almost always the top team in their SPL, but they aren’t raking in money like those squads in England.
The group revenue decreased by 14.6 per cent to $105,231,315 million, and operating expenses decreased by 4.5 per cent to right around $97.5 million.
Celtic chairman Ian Bankier shared his insight on the financial outcomes.
“Whilst the short-term objectives of the company are dominated by our day-to-day success as a club on the park, the chief role of the board is to ensure that the long-term future of the club, and the company, is secured.
“Ensuring the long-term security of this club is a process of maximising the potential of the present and managing the risks of the future. The board is highly conscious of the financial environment in which we play football here in Scotland.
He described the fact that Celtics aren’t a hugely wealthy, but as long as the SPL prevails, they should remain steady financially. They just can’t drop excessive amounts of cash on players.
“Within this context and in the face of these hard facts, the board has evolved the strategy that the club, financially, has to adopt a self-sustaining model. In plain words, we have to live within our means. We cannot spend money that we don’t have.”