Celtic F.C annual report year ending June 2024 (and interim report Dec 2024)

A record financial year for Celtic

CELTIC FINANCES VS THE REST OF THE LEAGUE

Before an analysis of Celtic’s financial results for last year, and a direct comparison to Rangers across a number of key metrics, here is an illustration of how wide the financial gap is between Celtic and the rest of the SPFL:

Last season, the SPFL distributed £37.9m. This includes prize money for: league position for all 42 clubs, League Cup, Challenge Cup, SWPL & parachute payments.

This season, Celtic have earned £38.21m from UEFA - more than the entire SPFL distribution pot last season. Additionally, as league winners, Celtic received £4.5m of last season's £38m prize fund. This demonstrates:

1. The importance of Champions League football to Celtic financially

2. The risk to competiveness in Scotland created by the vast finances on offer from UEFA coupled with the relatively low prize pot on offer in Scotland

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CELTIC ANNUAL RESULTS FOR YEAR ENDED JUNE 2024

These are mightily impressive financial results, for Celtic:

1. the highest revenue in the history of Scottish Football

2. highest squad value in Celtic's history

3. the financial gap between Celtic and the rest of Scottish football is gigantic

REVENUE: £124.6m (up from £120m)
PROFIT: £17.8m (down from £40.7m)
CASH AT BANK: £77.2m (up from £72.3m)
INVESTMENT IN PLAYERS: £16.6m (total of £68m over the last 3 years)
OPERATING EXPENSES: up 10% to £105m
WAGE INCREASE: total wage bill up by 8% to £65.6m "driven by investment in the Men’s first team and management team as well as wage cost inflation across the business."

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INTERIM RESULTS TO DECEMBER 2024

Since this year end of June 2024, Celtic have released their 6 month interim report to year ending December 2024. Here's some key figures (compared to the 6 months to December 31st 2023)

• Revenue down: £83.5m,(2023: £85.2m)Broken down into Stadium operations (£31m), Commercial (£34m) and merchandising (£18m)

• Profit before tax up: £43.9m, (2023: £30.3m)

• Cash reserves down: £65.4m, (2023: £67.3m, but was £77.2m at June 2024)

• Profit on player sales up: £21.5m,(2023: £2.6m)(Matt O’Riley, Bosun Lawal, Tomoki Iwata, Michael Johnston, Kobayashi, Daniel Kelly & Hyeongyu Oh)

• Money spent on new players up: £28.5m(2023: £12.9m)(Arne Engels, Adam Idah, Auston Trusty, Bernardo, Luke McCowan, Sinisalo, Schmeichel & Álex Valle)

• In 6 months, they received £2.5m in interest on their cash reserves

In the January transfer window, which is after these figures up to December 2024 - they have also signed Jota permanently, Schlupp on loan, and Keiran (sic) Tierney on a pre contract agreement. Similarly, they sold Kyogo Furuhashi, Alexander Bernabei and placed Luis Palma, Odin Holm and Stephen Welsh on loan.

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CELTIC VS RANGERS - A COMPARISON

Both have seen steady increases in revenue in recent years, primarily driven by European competition. Celtic have stretched their earnings gap over Rangers since they were earning about the same in 21/22. It's no surprise that in the three seasons Celtic reached the Champions League = over £100m in income. It will be the same again in next years accounts, as they again qualified for the competition where all the money is - and earned a whopping £38m before their knockout round elimination to Bayern Munich.

What do fans want to see income spent on? New players. Both have done this and can spend in one summer what everyone else in the country might not spend in 10 years.

Note that the dashed line figures for 24/25 can increase in January, the figures I've included were this summer's spends noted in both club's respective accounts: