The club have declared record group revenue of £143.6m, a huge 15.2% increase on the previous annual period.
Operating expenses were a hefty £117.1m, up from £105.4m.
The club’s cash reserves, despite the big profit, have stayed largely consistent with last year’s total and are declared as £77.3m.
Peter Lawwell addresses Celtic financials
Club chairman Peter Lawwell released a statement in conjunction with the results, clarifying his view on some of the standout numbers.
“A significant uplift in matchday income and UEFA rights distributions following a successful Champions League campaign,” he explained, was the reason for the increase in revenue.
“Profit after tax increased, driven by the strong revenue growth and substantial gains from player trading of £31.5m (2024: £6.6m). These gains were largely reinvested into the playing squad, aligned to the Club’s commitment to sustained on-field success,” the chairmain continued.
On the stability of the bank balance compared to 2024, Lawwell said, “During the year we invested heavily in the first team, both by way of player transfers and wages along with infrastructure across our estate. First team labour costs were the highest levels in the history of the club.”
On ambition and transfers, he defended Celtic’s stance, stating, “In total and including committed agent fees, £42.6m was invested in player acquisitions during the year, more than doubling the prior year spend, marking the highest single-season investment in the Club’s history including twice breaking the club transfer record. As a result, the carrying value of the squad is the highest it has been in the history of the club.
“The Board shares the ambition of our supporters to see the strongest possible team on the pitch and will continue to balance short-term performance with long-term financial stability, and we must factor in the long-term implications of all decisions made today. This strategy is vital to Celtic and has been pivotal to our success over the last 20 years.”
However, he did also acknowledge, “We recognise and share the frustration and disappointment of our supporters with respect to the timing of some of the incoming acquisitions. We will always look to improve how we operate and overcome challenges where possible.”
Celtic finances will create more debate
The results, in isolation from a business and investor standpoint, are impressive. Celtic do not have anything to worry about financially.
However, the club had much-publicised issues with recruitment during the summer months. Brendan Rodgers publicly aired his frustration over transfers, and supporters heavily criticised the lack of strengthening in key attacking positions before the Bhoys were dumped out of Champions League qualifying by Kairat Almaty.
Over 400 fan groups, representing thousands of supporters, launched a protest campaign earlier this month, with actions and unrest set to continue. Many within the support feel their interests are not being served, while communication from the club on footballing strategy and fan engagement underwhelms.
In that context, the mountain of cash Celtic are sitting on will create more debate about leadership and decision-making at the club. Can they adequately balance financial excellence with footballing ambition? Do they have the right expertise in place to manage their resources more efficiently and effectively from a timeline standpoint? Should there be more investment in Celtic Park and other club infrastructure?
Celtic’s board may have to reckon with detailed answers to questions of this nature before long, especially if protests continue and pressure builds.
The club’s AGM is due to take place in November.