By Sean Fisher

20th Sep, 2023 | 12:05pm

Revealed: Celtic smash club record with £51m payout

The £50.7million owed by Celtic in transfer instalments and other payables is a new club record, Football Insider can reveal.

The Scottish giants posted their 2022/23 financial accounts on Monday (18 September), revealing a club-record revenue of £119.9million.

Celtic’s Champions League qualification, treble-winning season and profitable transfer windows all contributed to the record-breaking figure.

It marks a 35 per cent increase on 2021/22’s revenue of £88.2million.

Celtic also revealed that the club’s year-end cash reserve sits at a healthy £72.3million.

The club has faced criticism from fans for failing to invest more of that banked cash into the playing squad for the 2023/24 season.

However, Football Insider can reveal that more than half of that cash reserve is set to be paid out because of the £50.7million owed in instalments and payables.

The Glasgow club owe £14million more in trade and other payables than they did this time last year.

Football Insider revealed in February that the £38.4million Celtic owed in transfer instalments and other payables before the end of 2023 was a previous club record.

Celtic chairman Peter Lawwell stated that the £72.3million cash reserves saved by the club will “be used for settling outstanding sums due from transfers over the last two seasons”.

Lawwell adds that Celtic are also planning to use the saved funds to invest in the development of the club’s Barrowfield training facility.

Celtic revealed last Friday (15 September) that the club’s plans to redevelop the training centre had been given the green light.

In other news, Celtic idol slams former Rangers star Ally McCoist – ‘no respect’