Celtic set for massive £15-million European cash windfall

Celtic keep winning both on and off the pitch, with them now set to land at least a £15-million cash boost from Europe this season.

While clubs around Scotland struggle for money, Celtic just can’t seem to get enough of it. The club made a profit of £11.3 million last season and they look set to beat that mark this season, having announced a £24.4 million profit in their half-year financial results.

When the Hoops were eliminated from the UEFA Champions League qualification phase earlier this season following a 4-3 loss at the hands of CFR Cluj earlier this season, it was thought to be a catastrophic result with regards to the club’s finances. At the end of the day, Champions League football plays a massive part in any top club’s revenue.

They have managed to do very well since then in Europe though. Even in a tough Europa League group consisting of Lazio, Rennes and the afformentioned CFR Cluj, Celtic managed to come top and the fruits of their labour are visible in the club’s financial results.

They have already earned a guaranteed £9.5 million from the distribution programme till now, having made £2.6 million for being in the group stage, £2.1 million performance based bonuses, £2.1 million for their UEFA co-efficient ranking and £1 million for their three Champions League qualification phase ties. Another accumulated £1.75 million was made from the club’s qualification for the knockout phase as well as topping their group.

The club also expect to make another £5 million from all their television and matchday income, leaving them at a cool total of £14.5 million. And they will be hoping to cross the £15 million mark when they compete in the knockout phase of the competition according to Football Insider.

Neil Lennon’s side will be taking on FC Copenhagen in the last 32 of the competition, and could be set for a lot more money if they manage to get past the Danish club. And judging by their sparkling form since returning from the winter break, do not be surprised if they do.