Celtic back in profit in title-winning season
Celtic Football Club is back in the black after profit before tax for the year to the end of June came in at £6.1m against a loss of £11.5m last year.
Chairman Ian Bankier said full stadiums after the pandemic and record player sales of £29m helped the club return to profit.
A return of crowds was a big factor in the increase in revenue from £61m to £88m, excluding player sales.
Almost £40m has been invested in signings as the club recruited 14 players to allow boss Ange Postecoglou to rebuild a title-winning squad.
The departures of Odsonne Edouard and Kristoffer Ajer to Crystal Palace and Brentford respectively, helped bring in an extra £29m.
That in turn allowed Postecoglou put together a squad which won the Scottish Premiership title and League Cup, while gaining automatic entry into the Champions League group stage.
Mr Bankier said he has “every confidence” in the club’s business model.
The results period does not include revenue from the Champions League. Celtic also has £30m in the bank.