how the DR reports it
It was a nightmare 12 months on the pitch but chairman Ian Bankier is bullish about the club's future despite the financial hit.
Celtic have announced a pre-tax loss of £11.5million for the financial year as the club cited the pandemic and a drop in player trading as key factors behind their loss.
It was a nightmare 12 months on the pitch as their 10 In A Row bid collapsed and that was replicated off the pitch as revenue dropped by almost £10m (£70.2m to £60.8m).
Celtic secured the Scottish Cup that landed a historic quadruple Treble but finished 25 points behind
Rangers and flopped in last season's Europa League.
Money from transfers was down on previous years but that will rise next year with the sales of Kris Ajer, Ryan Christie and Odsonne Edouard not included in the financial results up until June 30, 2021.
New manager
Ange Postecoglou signed 12 new players and chairman Ian Bankier is convinced the club remains in a good place.
Hold the press
Ok, gain on player sales 20/21 £9.4m, offset by Acquisition £13.5m =>
Deficit of 4.1 million in player recruitment.
This window rumour is after selling their top assets they have made a profit of £13.5m after intake. Take away the deficit of season 2021/21 and have £9m+ profit.
So comparison of squad in 1 year
Out goes the likes of Eduoard, Ayer, Frimpong, Christie, Ntcham and are replaced with nobody of note apart from Kyogo who they are likely to return a profit from. Was that worth banking £9m on?
Fed up reading how good they do on transfers. Their squad is about 60% worth than it was 2 years ago and have £9m to show for.
We are destroying them on and off the park.
Our assets have grown significantly. Goldson is cause for concern but if he brings home 56. I believe its a good gamble to take.
The time for us to sell is when 56 is in the bag. Not that we have to if we do it this year but because it will be reinvested and squad freshened.