Champions League boost helps Celtic to £61m half-year revenue

first_imgCeltic have revealed strong financial results for the six months ending in December last year, reflecting success since the arrival of Brendan Rodgers.The Scottish champions saw their revenue increase by 94% to £61.2m in the six months to December 31, 2016, and profit from trading rose from £1.6m to more than £21m.The increase in part reflects the club’s success in reaching the group stages of the Champions League. Under Rodgers, the team is unbeaten in the Scottish Premiership, has won the League Cup and is through to the fifth round of the Scottish Cup.Celtic’s results also reveal the club spent just under £10m in the summer on player transfers, when new manager Rodgers added Scott Sinclair, Moussa Dembélé, Kolo Touré, Christian Gamboa and Dorus de Vries to his squad. Player sales accounted for £2m, which the club said was largely accounted for by the sale of Stefan Johansen to Fulham. The strong set of financial figures leaves Celtic with just under £19m in the bank. The financial report notes that the next six months are unlikely to bring as much revenue, partly due to there being no European football, though there will still be some outstanding Champions League money to be paid out.In a statement in the report, chairman Ian Bankier said: “The board is optimistic about our immediate future and firmly supports the self-sustaining financial model that has served us well.”last_img read more

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