A year on from a record £33.9m profit, Celtic’s books tell the story of a season that swung from Champions League money to Europa League reality – and the numbers don’t lie.
Celtic have confirmed a loss after tax of £4.8m for the year ending June 30, a stark reversal from the £33.9m profit posted twelve months earlier. Revenue fell 22.7% to £111m, down from £143.6m in 2025, with the club attributing the shift largely to missing out on Champions League participation last season.
That’s the gap between Europe’s top table and the Europa League in black and white. As reported via BBC Sport, cash in the bank dropped too, from £77.3m to £66.4m, a reminder of how quickly the buffer can shrink once the biggest European payday disappears from the ledger.
A Season of Genuine Upheaval
The figures cover a campaign that had precious little financial stability to match. Celtic went through three different managers in 2025-26 – Brendan Rodgers departed, Wilfried Nancy was gone after just eight games in charge, and it fell to Martin O’Neill to steady the ship and deliver a league and Scottish Cup double.
Chairman Peter Lawwell also retired in December, citing abuse and threats, leaving the boardroom without a permanent figurehead through all of this. Interim chairman Brian Wilson didn’t dress it up, describing the campaign as more turbulent than anyone would have wished for while praising the resilience shown to still land silverware.
Spending, Sales and the Season Ahead
Wilson confirmed £31.6m was spent this summer on six permanent signings – Kasper Hogh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg and Jordan Lotomba – with loan deals also done for Landon Emenalo, Shumaira Mheuka, Sam Johnstone and Oliver Sorensen. What wasn’t disclosed was the return from outgoing sales, including Daizen Maeda, Arne Engels and Reo Hatate, leaving supporters to guess at the true net spend.
Context here matters. Celtic are back in the Europa League after that shock exit to LASK in the Champions League play-off, a result that cost the club far more than pride. They’re already out of the League Cup, and back-to-back defeats to Rangers have cut the Premiership lead to two points, hardly the backdrop the board would choose while defending its wider financial and recruitment strategy.
What Comes Next
The search for a permanent chairman continues, with Wilson acknowledging that work on improving communication and supporter engagement is ongoing rather than finished. How Celtic navigate the rest of this Europa League campaign, and whether the summer’s recruitment starts paying dividends on the pitch, will be the clearest signal yet of whether this loss is a one-season blip or the start of something more uncomfortable.
Mon The Hoops.
