Celtic announce booming financial update as they reveal 'significantly higher' earnings

Cash-rich Celtic have announced they are expecting "significantly higher" earnings when they release their incoming financial results.

The Premiership champions will release the full results in September but they have primed the London Stock Exchange for thriving accounts – 12 months after announcing they had £72.3m in the bank and group revenue had soared to £119.9m. Supporters are hoping for several marquee signings before the transfer window closes as Brendan Rodgers' side aim to make a telling impact in the revamped Champions League. The new-look format guarantees eight games for all 36 teams who will be competing in the new, cash-rich format.

In a statement to the LSE, they stated: "Celtic has enjoyed a strong on pitch performance in the 2023/24 football season having won the domestic double. In addition, it has enjoyed a successful year in generating gains from player trading. As a result of such gains and a strong end to the season from a footballing perspective, Celtic now expects earnings for the year ended 30 June 2024 will be significantly higher than previous expectations, which were formed before the conclusion of the season and prior to certain player disposals.

"Player registration valuations and player trading can and often do materially influence Celtic's financial performance in addition to trading revenue. The summer transfer window is underway and following the closure of the window and the finalisation of the year end balance sheet review, the club will then be in a position to confirm the extent of its earnings by publishing its results for the year ended 30 June 2024, in line with its usual timetable in mid-September 2024."