Celtic are set to post record financial figures

A report into Celtic’s finances, conducted by Canaccord Genuity – the club’s stockbrokers – has revealed it is on course to announce revenue of £112 million for the year ending in June.

That would be a record annual sum for any Scottish football club, and shares in the Hoops are now valued at £1.73.

That’s almost seven-times higher than the 25p Rangers benefactor, Stuart Gibson, paid for each of his 4.2m shares in the Ibrox outfit less than two months ago.

Canaccord’s report was distributed to its clients, and recommends they should buy shares in the Premiership champions because it believes the price has been under-valued by the financial markets.

Football finance expert, David Low, who was an adviser to Fergus Mccann (inset) when the Us-based millionaire saved Celtic from bankruptcy 29 years ago, has reviewed Canaccord’s figures.

He said: “First of all, the numbers posted by Celtic in their interim accounts were fantastic.

“The projections now made by Cannacord for the remainder of the financial year are equally impressive.

“The turnover of £112m would be a new record, obviously boosted by Champions League participation. “Should Celtic hold on to their Premiership title, that figure looks like being matched or – more likely – bettered next season as winning the title would see them automatically qualify again.

“There is also an extra group match in the new-look Champions League.

“So the outlook for Celtic is compelling, and gives the club the opportunity to put that money to good use in Europe.

“Canaccord are clearly impressed by the potential to grow that income, otherwise they wouldn’t have recommended that their clients should buy shares, which they evidently believe are undervalued at today’s price.

“As to how that impacts on the Scottish game, it means that Celtic are currently further ahead of Rangers financially than David Murray’s Rangers were ahead of the old board when Celtic almost went bust in 1994.”