Celtic CEO ‘comfortable’ with Club’s Finances Despite Annual Loss
September 20, 2012
Celtic revealing a loss of £7.37m for the year ending June 30, 2012, has not concerned chief executive Peter Lawwell who has insisted that he is “comfortable” with the club’s finances.
The Scottish champions reported the loss yesterday which also revealed an increase in debt of more than £2m.
Lawwell said: “The club’s in a decent place and we have built up over the past few years.
“Although making that loss, our debt level is still under £3m, which is very comfortable for a club of Celtic’s size and revenue streams.
“We are in the Champions League and we have a great foundation, a great basis to take the club forward. There will be challenging times ahead but we are prepared for that.”