Celtic plc announced its results for the year ended June 30, 2026, late on Tuesday, saying group revenue fell 22.7% to £111 million and it made a loss before tax of £6.6 million compared to a profit of £45.7 million in the prior year.

Celtic said its operating expenses including labour increased by 4.3% to £122.1 million and it made a gain on sale of player registrations of £16 million (2025: £31.5m).

Year-end cash was £66.4 million (2025: £77.3m).

Chairman Brian Wilson said: ” … revenue decreased to £111.0m (2025: £143.6m) primarily as a result of dropping into the Europa League as compared to the Champions League in the prior year.  

“As well as directly impacting UEFA distributions, this also had a knock-on effect on other parts of the club including ticketing income and retail.

“The loss after tax amounted to £4.8m (2025: profit of £33.9m). This was driven by a combination of revenue decline, an increase in operating expenses primarily through wages and salaries, a reduction in gains from player trading to £16.0m (2025: £31.5m) and an increase in amortisation to £15.4m from £13.8m in 2025.

“Year-end cash decreased by £10.9m to £66.4m (2025: £77.3m) mainly due to cash consumption at the operating level coupled with net investment in players and capital items in the year. Committed player acquisition costs, including all agent fees, amounted to £17.5m in the year on top of the £42.6m spent in the prior year.

“The reduction in spend was in part down to a strategic decision in the January 2026 transfer window to adopt more loan signings with permanent transfer options in order to combine flexibility with the immediate strengthening of the playing squad …

“The early stages of the 2026/27 season have brought mixed fortunes. Our league campaign started strongly and the first leg tie in the Champions League qualifier gave cause for optimism. The second leg defeat to LASK was, accordingly, all the more deeply disappointing for every supporter of the Club.

“This has been followed by our exit from the League Cup. We now move into the Europa League as well as pursuing our defence of the Scottish Premiership and Scottish Cup, with renewed commitment to success.

“The events of the past 12 months have been dramatic, sometimes joyful and at other points deeply frustrating.  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. 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. It is also worth noting that eight of our players were selected by their countries for the World Cup finals.

“We welcomed Grant Scott as women’s team manager in January 2026 and while we were disappointed to finish the SWPL in 5th place after Grant transitioned into the role, we rounded off the season in style by winning the Scottish Cup. The season has started strongly with 5 straight league wins and progression into the quarter finals of the Sky Sports Cup.

“In December, Peter Lawwell retired from the chairman’s role. Peter’s contribution to the Club’s success over more than 20 years was outstanding and, as Celtic supporters, we owe him our appreciation.

“I was asked by colleagues to step into the role of Interim Chairman and have done my best to bring people together in order to maximise the team’s prospects of success and to encourage improvement in areas where we could have been doing better including communication and supporter engagement.

“This work is ongoing. Tom Allison retired from the Board after long and sterling service for which we all express appreciation. The need for new Board appointments was apparent, and I welcome the immediate appointment of Mark Keane and soon to be appointed Raymond Buchanan. This process of refreshing the Board will continue including identification of a successor to myself.”