Scottish Premiership Club Celtic Reports Pre-Tax Profit Of Almost $16M
Scottish Premiership side Celtic has "recorded a pre-tax profit of almost" £10M ($16M), according to the Glasgow EVENING TIMES. The club's annual figures show a 48% jump in group revenue to £75.8M ($121M), "boosted by their European success." The Scottish champions announced a profit before tax of £9.74M in the year to the end of June, "a performance that wiped out their bank debt and left them with" £3.76M cash in the bank. The club spent £9.66M on players, compared to £5.24M in the same period last year (EVENING TIMES, 9/24). The BBC reported South Korean midfielder Ki Sung-Yeung "was sold" during the summer '12 transfer window to Premier League club Swansea for more than £6M. Celtic "also signed a new three-year shirt sponsorship contract with Magners and celebrated their 125th anniversary with a historic victory over Spanish club Barcelona in the group stages of the Champions League" (BBC, 9/23).