Celtic have published accounts showing a loss after tax of £4.8m for the year to 30 June. Twelve months earlier the same set of books showed a £33.9m profit. The swing of nearly £39m has one main cause, and the club has not tried to dress it up as anything else: they did not qualify for the Champions League.
Revenue fell 22.7% to £111m, down from £143.6m. Cash in the bank dropped to £66.4m from £77.3m. Those are still numbers most clubs in Scotland would take without hesitation, but the direction of travel is the thing shareholders will have noticed.
A year that cost the club money and stability
Celtic used three managers in 2025-26. Brendan Rodgers left unexpectedly, Wilfried Nancy was hired and then sacked after eight games, and Martin O'Neill returned. Chairman Peter Lawwell retired in December, citing abuse and threats.
Interim chairman Brian Wilson described the season as more turbulent than anyone would have wished for, which is putting it politely. He credited O'Neill and his staff with what he called extraordinary resilience in delivering a league and Scottish Cup double out of the chaos.
"The departure of Brendan Rodgers was an unanticipated event which initiated a period of instability," Wilson wrote. "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."
£31.6m spent in the summer
The accounts confirm Celtic spent £31.6m on Kasper Hogh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg and Jordan Lotomba, with loan deals for Landon Emenalo, Shumaira Mheuka, Sam Johnstone and Oliver Sorensen on top.
What Wilson did not disclose is how much came in. Daizen Maeda, Arne Engels and Reo Hatate all left, and the fees from those sales would go some way to explaining how a club posting a loss still found £31.6m for transfers.
The season is not helping either
Celtic are in the Europa League again after losing a Champions League play-off to LASK, which was as bad a night as the club has had in Europe in years. They are out of the League Cup. Two straight defeats by Rangers have cut their Premiership lead to two points.
Wilson acknowledged that communication and supporter engagement need work, and said the search for a permanent chairman continues. Fixing the relationship with the stands may prove the harder job of the two.
The figures: Celtic loss after tax of £4.8m for the year ending 30 June 2026, against a £33.9m profit in 2025. Revenue £111m, down 22.7% from £143.6m. Cash reserves £66.4m, down from £77.3m. Summer transfer spend £31.6m on six permanent signings plus four loans. Three managers used in 2025-26. Currently two points clear in the Scottish Premiership, out of the League Cup and in the Europa League after a play-off defeat to LASK.
0 Comments