Celtic have released their financial results from the 2019/20 season as the club suffered a cash blow from Covid-19.
Clubs all over the world have been hurt from the coronavirus pandemic as football came to a halt earlier in the year.
The Scottish Premiership season was one league that was curtailed and Celtic have shown the extent of its impact from a business perspective.
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."
Here's all the 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)
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