Celtic released a statement to the London Stock Exchange on Tuesday which made the headlines across the country.
The club is due to post their end-of-year results in mid-September, with the numbers to be significantly higher than expected, the club claims.
Celtic’s financial status is exceptionally robust, a fact confirmed in its latest trading update. For the year ending June 30, 2024, the club expects earnings to surpass prior forecasts significantly.
This financial uplift is attributed to a successful season both on and off the field, bolstered by Champions League revenues, robust season ticket sales, and record-breaking merchandise sales. According to the club, its on-pitch success, including clinching the domestic double, along with lucrative gains from player trading, have markedly enhanced its financial standing.
Roger Mitchell pointed out that despite its modest turnover and profit multiples, Celtic is publicly valued at £180 million and operates with a price-to-earnings ratio of 7.6. He explained the unique position of Celtic in the football world, noting its substantial cash reserves — a detail that has sparked dissatisfaction among fans who are keen for the club to add some quality on the pitch.
“Celtic for me is a good bet to buy. It’s a convergence play on a super league. The 180m valuation is a call option on a paradigm shift in world soccer. And even if that doesn’t happen, you are getting an asset at only 7 times earnings and strong cash backing. People are smelling that out.”
