£112 million Celtic update is bad news for Rangers

Celtic currently sit nine points ahead of the Rangers in the Premiership table and unless there is an unexpected collapse, the Hoops should have enough in the tank to win their second straight league title. They have already won the League Cup as well, and are in the semis of the Scottish Cup, where they will be taking on Michael Beale’s side.

Celtic are not only making strides on the pitch under the management of Ange Postecoglou, but off it as well. The club find themselves in a tremendous financial position.

Of course, that has been helped by the fact that they took part in the UEFA Champions League group stage this season. On the other hand, one cannot overlook the growth of Celtic’s popularity in countries like Japan, Australia and others, since the arrival of Postecoglou and several of their new players from those regions.

Now, as reported by the Daily Record, a confidential report into Celtic’s finances has revealed that they are on course to announce a revenue of £112 million for the year ending June, 2023. This report was commissioned by the club’s stockbrokers, Canaccord Genuity Ltd. And football finance expert David Low said about the situation:

"“First of all, the numbers posted by Celtic in their interim accounts were fantastic. Then the projections made by Cannacord for the remainder of the financial year are equally impressive. The turnover of £112m would be a new record, a total which has obviously been boosted by Champions League participation.“Should they hold on to their nine-point lead in the Premiership, that looks like being matched or more likely bettered next season because winning the title will see them automatically qualify again and there is an extra group match in the new-look competition.“The outlook for Celtic is compelling and gives the club the opportunity to put that money to good use in Europe. Canaccord are clearly impressed by the potential to grow that income, otherwise they wouldn’t have recommended their clients should buy shares, which they evidently believe are undervalued at today’s price. As to how that impacts the Scottish game, it means that Celtic are currently further ahead of Rangers financially than David Murray’s Rangers were ahead of the old board when Celtic almost went bust in 1994.”"

£112 million Celtic update is bad news for Rangers

Thus, it looks like Celtic have a significant advantage off the park. So much so that they appear to be further ahead of the Rangers financially now, than the Ibrox club were of them in the mid 90s.

Of course, football is a game played on the pitch and anything can happen there. Thus, the Hoops’ focus has to be on finishing this campaign strong and potentially bringing home a treble. The possibility of that happening is still on the table.

Off the pitch, the financial results do mean that Postecoglou could once again get heavy backing in the summer and the chance to strengthen his squad further.