© EuroFootball.com
During the press conference held on Friday, the Scottish football giant Glasgow Celtic announced information about the past financial year, which was unsuccessful for the club.
According to the club's statement, Celtic's debt increased by 3.7 million pounds to 19.5 million pounds sterling.
The past season was very unsuccessful for Celtic - they lost crucial matches in the last round to their fiercest rivals Glasgow Rangers, who became champions. They also finished last in their group in the UEFA Champions League and did not even secure the right, given for third place in the group, to play in the UEFA Europa League, which would have brought them additional revenue from UEFA.
"This is a significant downturn after a series of successful years. For the first time in ten years, our income dropped so significantly," said Celtic's president at the conference. "Income from merchandise sales also significantly decreased, which had been growing rapidly until now."
These financial years could also be unsuccessful for a club with a glorious history: they were already knocked out of the UEFA Champions League, losing in the second qualifying round to the Slovakian champions, Artmedia Petržalka.
