Celtic interim chairman Brian Wilson has made a lengthy statement on the club's progress amid the publiication of the club's most recent annual accounts.
The club has announced losses of £4.8million of the financial year ending in June of 2026. It follows a significant drop from the £33.9m profit the club posted this time last year. Revenues fell from £143.6million to £111million. Meanwhile, the year-end cash balance dropped from £77.3million to £66.4million.
Celtic have explained that drop by the reduced European income, operating costs and investment in the playing squad, although sales have largely outweighed incoming signings.
Bhoys interim chairman Wilson published a lengthy statement on the club's website, which you can see in full below.
Wilson's statement in full
“Season 2025/26 was more turbulent than anyone would have wished for, though ultimately it ended with one of the most dramatic title wins in our history as we secured the SPFL Premiership in the final moments of play before adding the Scottish Cup to complete a double a week later.
“I congratulate Martin O’Neill, the backroom team and players for demonstrating extraordinary resilience throughout the title run-in and thank our supporters whose backing was crucial to the outcome.
“Turning to a summary of our financial results, revenue decreased to £111.0m (2025: £143.6m) primarily as a result of dropping into the Europa League as compared to the Champions League in the prior year.
“As well as directly impacting UEFA distributions, this also had a knock-on effect on other parts of the Club including ticketing income and retail. The loss after tax amounted to £4.8m (2025: profit of £33.9m). This was driven by a combination of revenue decline, an increase in operating expenses primarily through wages and salaries, a reduction in gains from player trading to £16.0m (2025: £31.5m) and an increase in amortisation to £15.4m from £13.8m in 2025.
“Year-end cash decreased by £10.9m to £66.4m (2025: £77.3m) mainly due to cash consumption at the operating level coupled with net investment in players and capital items in the year.
“Committed player acquisition costs, including all agent fees, amounted to £17.5m in the year on top of the £42.6m spent in the prior year. The reduction in spend was in part down to a strategic decision in the January 2026 transfer window to adopt more loan signings with permanent transfer options in order to combine flexibility with the immediate strengthening of the playing squad.
“Going into the summer 2026 transfer window post year-end, the Club has brought in the permanent registrations of Kasper Høgh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg and Jordan Lotomba at a total cost of £31.6m as well as acquiring the temporary registrations of Landon Emenalo, Shumaira Mheuka, Sam Johnstone and Oliver Sørensen.
“Prior to the year-end we permanently disposed of Luis Palma and Hayato Inamura and post year-end permanently disposed of Maik Nawrocki, Daizen Maeda, Arne Engels, Reo Hatate and Johnny Kenny. A number of players’ loans and playing contracts came to an end and they have moved on to new clubs or returned to their parent clubs.
“The early stages of the 2026/27 season have brought mixed fortunes. Our league campaign started strongly and the first leg tie in the Champions League qualifier gave cause for optimism.
“The events of the past 12 months have been dramatic, sometimes joyful and at other points deeply frustrating. The departure of Brendan Rodgers was an unanticipated event which initiated a period of instability.
“In other circumstances, the appointment of Wilfried Nancy might have worked but his arrival in mid-season and the changes which followed clearly did not. Parting ways with Wilfried was hugely disappointing but decisive action had to be taken.
“The return of the great Martin O’Neill, supported by his backroom team as well as a fine squad of players, then proved to be a triumphant success. It is also worth noting that eight of our players were selected by their countries for the World Cup finals.
“We welcomed Grant Scott as women’s team manager in January 2026 and while we were disappointed to finish the SWPL in 5th place after Grant transitioned into the role, we rounded off the season in style by winning the Scottish Cup. The season has started strongly with 5 straight league wins and progression into the quarter finals of the Sky Sports Cup.
“In December, Peter Lawwell retired from the chairman’s role. Peter’s contribution to the Club’s success over more than 20 years was outstanding and, as Celtic supporters, we owe him our appreciation.
“I was asked by colleagues to step into the role of Interim Chairman and have done my best to bring people together in order to maximise the team’s prospects of success and to encourage improvement in areas where we could have been doing better including communication and supporter engagement. This work is ongoing.
"Tom Allison retired from the Board after long and sterling service for which we all express appreciation. The need for new Board appointments was apparent, and I welcome the immediate appointment of Mark Keane and soon to be appointed Raymond Buchanan. This process of refreshing the Board will continue including identification of a successor to myself.
“We have many fine people working for Celtic Football Club, each and every one committed to its identity, values and continuing success. I thank them all for their contributions in every aspect of the Club’s affairs. Our appreciation also goes, as ever, to the supporters who always were and always will be the lifeblood of the Club.”
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