CELTIC PLC have formally advised the Stock Exchange this morning that they “expect to exceed market expectations” after receiving “a material compensation payment” from Leicester City in relation to the departure of Brendan Rodgers and various members of the coaching staff three weeks go.
THE CELTIC PLC Trading Update reads as follows:
“Celtic PLC is pleased to provide the following trading update in respect of the period to 30 June 2019.
The Club has continued to enjoy favourable trading performance, including receiving a material compensation payment in respect of the departure of Brendan Rodgers to Leicester City FC.
Because of this, Celtic now expects to exceed market expectations for the current financial year. The Club’s financial performance continues to remain subject to the outcome of a number of key events and fixtures, which typically are not known until the end of the football season.”
Celtic are believed to have received £9million in compensation from Leicester City for Rodgers & Co and it is also understood that had he waited until the end of the season, that figure would have been considerably lower.
Since his departure from the club Neil Lennon has earned a place in the Scottish Cup semi-final by beating Hibs at Easter Road and wins against Hearts and Dundee plus a draw against Aberdeen has seen the lead at the top of the Premiership increased by two points since Rodgers bolted, from eight to ten points.