Celtic’s major shareholder Dermot Desmond says that the Scottish champions have been the best performing club in England. His controversial statement comes after the likes of Manchester United and Manchester City recently revealed their financial results. Apart from Arsenal, all major English clubs have made huge losses in the last financial year with Liverpool especially coming under heavy criticism after their £ 50 million loss. Celtic, meanwhile, have done extremely well to stay within their means, although it has come at a cost by selling key players like Gary Hooper this summer.
Celtic have also been able to compete with most of the clubs in the Champions League and it in itself is a major achievement according to Desmond. This is because the Scottish league has far lower TV money than the likes of the Premier league. Desmond has said that the lower income from the TV has made Celtic concentrate on other avenues like developing the youth system and scouting. This has allowed them to make considerable profits from the sale of players like Victor Wanyama, who bought for very low sums of money.
Celtic are once again expected to comfortably win the Premier league this campaign, although criticism has come in the wreck of poor performances in the cup competitions.
“If you look at the financial metrics between Celtic and other clubs in the UK, our performance, the balance-sheet performance and the performance on the field, I think, exceeds any other club, recognising that we are shackled by lack of revenues we have from TV and other comparable income that Premier League and Championship clubs get. We have got financial stability, good organisational structures as far as scouting, development squad and coaching go,” he told Celtic TV.
Celtic receive around £ 30 million from the Champions League it may make it to the group stages.