Celtic post £4.8m loss as revenue drops 22.7% without Champions League

Celtic have announced a loss after tax of £4.8m for the financial year ending June 30. The figure marks a dramatic reversal from the £33.9m profit the Scottish club posted twelve months earlier. The driving factor is no mystery: without Champions League football in 2025-26, the Glasgow side competed in the Europa League and paid a heavy price in the accounts.

• Celtic swung from a £33.9m profit to a £4.8m loss in a single financial year
• Revenue dropped 22.7%, from £143.6m down to £111m
• The club went through three managers in 2025-26 and its chairman stepped down in December
• Martin O'Neill restored stability by delivering a Premiership and Scottish Cup double
• Cash reserves remain strong at £66.4m despite the losses

How missing the Champions League hit Celtic's finances

Club officials are upfront about the cause of the downturn: failing to secure Champions League group-stage football last season. For a club of Celtic's stature, the competition is the single biggest source of broadcast and matchday income, and its absence is felt immediately on the balance sheet.

The published figures show total revenue falling to £111m, a decrease of 22.7% compared with the £143.6m recorded in 2025. Despite the setback, liquidity remains comfortable: the report lists £66.4m in the bank, a buffer that allows the club to plan ahead with reasonable confidence.

Three managers and a chairman departure in a chaotic season

The 2025-26 campaign proved turbulent both on and off the pitch. Brendan Rodgers left the job and his replacement, Wilfried Nancy, was dismissed after an eight-game spell in charge. Compounding the instability, long-serving chairman Peter Lawwell stepped down in December, citing "abuse and threats" as the reason for his exit.

Interim chairman Brian Wilson described the season as "more turbulent than anyone would have wished for". He nonetheless congratulated Martin O'Neill and his staff for "demonstrating extraordinary resilience" in delivering the Scottish Premiership title and the Scottish Cup in the same year.

Summer spending of £31.6m on six new signings

The losses did not stop Celtic from investing in the summer transfer window. Wilson confirmed that the club spent £31.6m to bring in six players: Kasper Hogh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg and Jordan Lotomba. Loan deals were also completed for Landon Emenalo, Shumaira Mheuka, Sam Johnstone and Oliver Sorensen.

The interim chairman did not disclose how much the club generated from player sales, which included the departures of Daizen Maeda, Arne Engels and Reo Hatate. That information is particularly relevant when assessing the overall accounts, since transfer income typically offsets a significant share of recruitment spending at clubs of this profile.

European elimination followed by domestic pressure

The current season began with another European disappointment. Celtic suffered a shock away defeat to LASK in the Champions League play-off round, condemning them to the Europa League once again. The elimination in Linz was a significant blow, both competitively and financially, for a club accustomed to battling for a place at Europe's top table.

Domestic matters have also been far from comfortable. The Glasgow side exited the League Cup and have seen their lead at the top of the Premiership cut to just two points after back-to-back defeats against Rangers. The margin for error in the title race has narrowed dramatically.

The club's assessment: frustration and ultimate triumph

Wilson made no attempt to hide the mixed emotions of the past year: "The events of the past 12 months have been dramatic, sometimes joyful and at other points deeply frustrating," he said. His comments capture the combination of institutional crisis and sporting redemption that defined the period.

The departure of Brendan Rodgers was an unanticipated event which initiated a period of instability. In other circumstances, the appointment of Wilfried Nancy might have worked but his arrival in mid-season and the changes which followed clearly did not.

The director also reflected on the painful decision to part ways with Nancy: "Parting ways with Wilfried was hugely disappointing but decisive action had to be taken. The return of the great Martin O'Neill, supported by his backroom team as well as a fine squad of players, then proved to be a triumphant success."

Improving fan engagement and finding a permanent chairman

The board also has unfinished business in its relationship with supporters. Wilson referenced the need to improve "communication and supporter engagement", describing that work as ongoing. For a club with Celtic's vast fanbase, transparency around governance and finances is essential to maintaining trust in the stands.

Meanwhile, the search for a permanent chairman continues. Wilson has filled the role on an interim basis since Lawwell's resignation, and no date has been set for the appointment of a definitive successor. Stability in the boardroom will feel as necessary as a return to consistent results on the pitch.

Frequently asked questions about Celtic's finances