Celtic finances BETTER than report showed as transfer sales boost coffers further

Celtic yesterday announced another set of eye-watering accounts as they sit with a whopping £77million in the bank.

The Hoops have been in a very healthy financial position for years now and the picture appears to keep getting better and better year on year. There has been criticism at times for the amounts spent in the transfer window but it can't be argued that they are a very well run club.

The annual report released to the London Stock Exchange showed group revenue has increased from £119.9m to £124.6m over the past year. There was also pre-tax profit of £17.8m, which is down from £40.7m last year, but that is said to be "in line with expectations" with investment in a multi-million-pound Barrowfield re-development, stadium improvements and increased transfer expenditure.

READ MORE: Celtic vs Slovan Bratislava: TV channel, live stream and Champions League team news

READ MORE: Scott Brown dubs Celtic a 'class above' Rangers as 'big' Champions League difference laid bare

But Celtic's finances are actually BETTER than what was reported yesterday. That's because they have made several player sales since which have not yet been included.

Matt O'Riley was sold to Brighton for around £30million, Oh Hyeon-gyu to Genk for £4.5m and Mikey Johnston to West Brom for £3m. There was also Rocco Vata to Watford for £237k and Daniel Kelly to Millwall for £400k. There was also undisclosed fees for Tomoki Iwata's deadline day switch to Birmingham City, as well as Yuki Kobayashi's exit to Portimonense.

The Scottish champions did shell out £32m on new signings but the aforementioned sales total means they will have banked even more millions than outlined in yesterday's financial report.