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Building D5
Fairoaks Airport
Chobham
Surrey
GU24 8HU
Tel: 0871 399 0089
Fax: 01276 858010
View map
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Champions League exit hits Celtic finances
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Scottish football club Celtic suffered a 22.8 per cent decrease in turnover in the six months to end-2009, with profits down and debt up on the same period the year before.
Club chairman Dr John Reid said the results were affected by the wider poor economy, but also by disappointing on-pitch performances. Most significantly, Celtic failed to qualify for the group stage of the Uefa Champions League this season, having done so the year before. The BBC reports that Celtic's profit before tax was £1.27 million, down from £8.36 million in the second half of 2008. The club's debt increased to £3.13 million from less than £1 million in the same period. However Reid said Celtic's financial situation was not completely negative. "Despite the absence of Champions League participation, over 50,000 season tickets have been sold and our merchandising business is holding up well, with this year's away kit the best selling for many years," he said. "Our sponsor programme also remains one of the most successful in British football." |
