Celtic’s 2024 Annual Report offers a deeper look into the club’s financial performance and operational strategies, with some interesting details emerging around transfer deals and add-ons. One of the more eye-catching tidbits from the report is the potential for significant financial movement in the coming years from player transfers, both for those brought in and those who have left the club.

According to the report, Celtic could end up paying as much as £7.4 million in add-ons for players they’ve transferred into the club. These add-ons are typically linked to player performances, such as the number of appearances, goals scored, international call-ups, and potentially more lucrative incentives like trophies won or club promotion in the case of young talents.

On the other hand, Celtic stands to receive up to £19.6 million in add-ons for players who have departed the club. This is a notable figure, and it’s tied to similar conditions—such as appearances, goals, and achievements by the transferred players at their new clubs. Add-ons like these are a common strategy in modern football transfers, allowing clubs to negotiate more favourable financial terms if a player’s impact at their new club grows.

• £5.6 million is expected if certain players reach a predetermined number of first-team appearances.
• £13.9 million depends on these players’ success in specific competitions.

However, these figures don’t cover sell-on clauses for former players. Sell-on clauses entitle Celtic to a percentage of a future transfer fee if one of their former players is sold on again, but since these future deals are uncertain and unquantifiable until they actually happen, the club doesn’t include them in their projected financials.

This structured approach to transfer deals demonstrates the club’s cautious and forward-thinking business model, giving Celtic the flexibility to profit from past sales while also managing their investment in new talent. Frustratingly, the details of these structured deals rarely see the light of day and had Celtic not been obligated to include the information in their annual report, we wouldn’t have any idea of the figure the Hoops could stand to gain.