Celtic profit with some Champions League help

Scottish Celtic had a stunning second-half showing in 2007, positing pre-tax profits of GBP 10.07 million. That compares favourably to the pre-tax profit of GBP 8 million at this time last year.

With Champions League success, the club is hoping that it will begin to be recognised as one of the elite clubs in Europe.

Club chief executive Peter Lawwell said Champions League revenue was good in the short term, but long-term benefits included worldwide exposure.

"However we're not sitting here being dependent on the Champions League," he told the Scotsman.com. "It's a fantastic revenue stream (but) we don't have to necessarily depend on it. We've got a structure in place that allows us to operate comfortably without it.

"Each year it becomes more and more difficult, but there are strategies built around hopefully being successful domestically, playing in the Champions League regularly, and then the exposure you get from being a Champions League club – taking advantage from that by the international dimensions that gives you."

Scottish clubs are very dependent on getting revenue from such events. Champions opponent Spanish Barcelona, for example, if well off without the league revenue.

"They exist in a country where the TV values are massive, compared to us," Lawwell said. "Their domestic TV revenue I think would be (GBP 75million) and ours is GBP two million. That is the advantage they clearly have as one of the top five nations."

Celtic's turnover for the second half of 2007 was down 9.3 percent to GBP 42.43 million. Operating expenses increased by 1.5 percent to GBP 32.52 million. The club reported a reduction in net debt, cutting more than GBP eight million of debt and leaving it at GBP 6.81 million.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.