Celtic fans have been discussing the Parkhead club's latest financial report.
The Hoops released their financial results from the 2019/20 season and, as expected, have taken a hit from the coronavirus pandemic as the Premiership campaign was curtailed.
Chairman Ian Bankier said: "The overwhelming event in the year under review was the emergence of Covid-19 and the attendant restrictions on social movement and trade. This has had an adverse impact on our operations and our balance sheet.
"At the time of writing we, like many football clubs and indeed many businesses, are still grappling with the challenges the pandemic presents including the near term uncertainty.
"However, the board continues to monitor the situation closely, taking proactive measures to ensure the club and our colleagues remain safe and is in the best position to allow football to continue."
Main points from the Celtic's financial report:
- Group revenue decreased by 15.8% to £70.2m (2019: £83.4m)
- Operating expenses including labour decreased by 7.3% to £80.5m (2019: £86.9m)
- Gain on sale of player registrations of £24.2m (2019: £17.7m)
- Acquisition of player registrations of £20.7m (2019: £6.2m)
- Profit before taxation of £0.1m (2019: £11.3m)
- Year-end cash net of bank borrowings of £18.2m (2019: £28.6m)
And here's how Celtic fans responded to the news on social media:
@josephtonner67 said: "A profit, as little as it is, in this climate is not bad tbf, just annoying that we could’ve been millions up if we had bottled the Champions League."
@rebel_debt_dude tweeted: "Bloody Covid can go away now please."
@R50FXY added: "Feel like the gamble they made in 2019 (£6.2m) in signings is ultimately going to cost them in 2020. Fail to prepare n all that."
@rstarko_ said: "This is why Champions League revenue isn’t just an added bonus; it’s essential. These finances are seriously concerning. Without fans renewing ST’s and buying merch etc, these figures would be severely worse."
@Splencar67 added: "Fairly at ease about this, thought it would be much worse."
@_Connortwig tweeted: "Now is certainly not the time."
