We all know this season was meant to be a season like no other, and it has been. But not in the way Celtic fans predicted. With eager anticipation, the Hoops fans bought into the hunt for the “Ten” as over fifty thousand fans purchased their season ticket knowing full well that they were unlikely to get to see their hero’s at Paradise.
The Celtic Pass was the fans only gateway to view the games and as unreliable as it was, the fans STILL backed the club. Chairman, Ian Bankier, made an announcement to The London Stock Exchange regarding the club’s financial results for the last months and an announcement to the supporters via the clubs official website regarding team performances and manager, Neil Lennon’s, position.
Bankier announced that revenue decreased by 23.7% to £40.7m (2019: £53.3m), loss from trading was £300,000 (2019: profit of £7.1m), profit from transfer of players was only £1.0m compared to 2019: £23.0m, overall pre tax losses of £5.9m compared to 2019 profit of £24.4m and finally cash in the bank sits at £19.7m in comparison to 2019: £32.9m.
The chairman has also told the fans the club are currently reviewing the situation of manager Neil Lennon, the decision will be taken calmly and rationally, as he acknowledged the on field performances have not been good enough.
The fans have been calling for change since the team where eliminated from both European competitions back in November and these financial results not only show the damage that has been done to Celtic’s overall European reputation, but also to the balance sheet that the board seem to hold aloft more proudly than the on field accomplishments.
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