Celtic PLC report loss as Champions League failings start to bite | OneFootball

Celtic PLC yesterday released their annual results, and it wasn’t a surprise that the club has taken something of a financial hit compared to last year’s outstanding figures…

Michael Nicholson, CEO of Celtic and Brian Wilson Celtic’s ‘interim’ Chairman look on from the stands during the UEFA Europa League 2026/27 League Phase MD1 match between Celtic FC and Ferencvarosi TC at Celtic Park on September 17, 2026. (Photo by Ian MacNicol/Getty Images)

It’s a heavy amount to drop by anyone’s standards, but was to be expected after failure to qualify for the Champions league group stages in season 2025/26.

The club’s annual results for the year ending 30 June, 2026, show a 22.7% drop in turnover to £111 million, down from £143.6 million the previous year.

Operating expenses, including labour costs, rose by 4.3 per cent to £122.1 million, while gains from player sales fell from £31.5 million to £16 million.

This marks a significant reversal from the £45.7 million pre-tax profit recorded in 2025.

After tax, Celtic posted a £4.8 million loss, compared with a £33.9 million profit a year earlier.

Cash held at the year-end fell by £10.9 million to £66.4 million and the club’s retail operation clearly took a hit due to the ongoing fan protest.

Michael Nicholson, Chief Executive of Celtic and interim Chairman Brian Wilson arrives at the stadium before the Premier Sports Cup Quarter Final match between Rangers and Celtic at Ibrox Stadium on September 13, 2026. (Photo by Ian MacNicol/Getty Images)

Chairman Brian Wilson said: “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.”

He attributed the annual loss to a combination of lower revenue, increased costs, primarily wages and salaries, reduced gains from player trading, and higher player amortisation charges.

These charges rose from £13.8 million to £15.4 million.

The accounts recorded £15.6 million in acquisitions of player registrations, compared with £38.6 million in 2025.

Kasper Hogh of Celtic arrives at the stadium before during the UEFA Europa League 2026/27 League Phase MD1 match between Celtic FC and Ferencvarosi TC at Celtic Park on September 17, 2026. (Photo by Ian MacNicol/Getty Images)

The statement also confirmed a total cost of £31.6 million for six permanent signings made after the June 30 year-end: Kasper Høgh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg, and Jordan Lotomba.

Landon Emenalo, Shim Mheuka, Sam Johnstone and Oliver Sørensen joined on temporary deals.

Arne Engels of West Ham United is challenged by Conor Coventry of Charlton Athletic during the Sky Bet Championship 2026/27 match between West Ham United and Charlton Athletic at London Stadium on August 22, 2026 in London, England. (Photo by James Fearn/Getty Images)

This summer activity falls outside the financial reporting period, as do the permanent departures of Maik Nawrocki, Daizen Maeda, Arne Engels, Reo Hatate, and Johnny Kenny.

Luis Palma and Hayato Inamura were sold before the year-end.

So whilst it makes for negative reading, the club is by far the most financially stable side in the country.

Kieran Tierney of Celtic reacts during the UEFA Champions League Play-offs Round First Leg match between Celtic and Kairat Almaty at Celtic Park on August 20, 2025. (Photo by Ian MacNicol/Getty Images)

However while the club state that they do not budget for Champions League qualification the defeats against Kairat Almaty and LASK have clearly cost the club perhaps as much as £60m. Celtic sold Kyogo in January 2025 and only really replaced him a year later.

Cameron Carter-Vickers of Celtic reacts after the UEFA Champions League 2026/27 Play off round second leg match between LASK and Celtic at on August 25, 2026 in Linz, Austria. (Photo by Christian Bruna/Getty Images)

At that stage Martin O’Neill was crying out for a number six who has never arrived and we have seen LASK capitalise on that, coming from 4-0 behind to knock Celtic out of this year’s Champions League and the Rangers have also managed back to back wins against Celtic for the first time since the COVID season.

The Celtic fan protests centre around these Champions League failings caused by the manner in which the club conduct their transfer business.

13th September 2026; Ibrox. Scottish League Cup Football, Rangers versus Celtic; Rangers players applaud their fans as the scoreboard reads Rangers 3 Celtic 0. Photo Vagelis Georgariou

Celtic are already out of the Champions League, out of the Premier Sports Cup and on the back foot in the Europa League after losing to Ferencvaros last week at Celtic Park.

Celtic manager Martin O’Neill looks on during the Scottish Premiership match between Celtic and the Rangers at Celtic Park on September 20, 2026. (Photo by Ian MacNicol/Getty Images)

The promising start to the Scottish Premiership ended with a shocking performance against the Rangers, again at Celtic Park, at the weekend and that has left Martin O’Neill considering his position as the Celtic manager.

These are clearly concerning times for Celtic and the root causes can be traced all the way to the top, to the man who calls the shots, Dermot Desmond.

Businessman, Dermot Desmond, tees off on the second hole on day one of the Alfred Dunhill Links Championship 2025 at The Old Course on October 02, 2025 in St Andrews, Scotland. (Photo by Luke Walker/Getty Images)

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