Celtic share price explodes to 23 year high as Parkhead club's financial power laid bare

Celtic majority shareholder Dermot Desmond and chairman Peter Lawwell are laughing all the way to the bank
-Credit: (Image: SNS Group)

Celtic's share price has exploded this summer to its highest value for more than TWENTY years.

Latest figures from the London Stock Exchange show that the Hoops' value has skyrocketed to a staggering 23-year high at 192p. It's the first time the Parkhead club have been trading at such a level since the Martin O'Neill era in November 2000, when shares sat at around 188p.

It marks a significant spike in share price since the end of their Double-winning season, when it was 140p on May 31. As well as clinching the Scottish Cup, Celtic's title success guarantees more cash from the new-look Champions League, where they will play at least eight games - banking in excess of £30million.

The Scottish champions are due to release their financial results for the year ended June 30 2024 in a few months time. And they could announce record-breaking figures after the club's interim report revealed they had an eye-watering £67.3million in the bank at the turn of the year.

It showed that revenue increased by 11 per cent to £85.2m in the final six months of 2023, while the pre-tax profit was £30.3m. Yet while the Hoops are in extremely rude health off the pitch, the Parkhead board have yet to open the chequebook this summer.

Chairman Peter Lawwell confessed in January that he "shared the frustrations" of supporters after a quiet transfer window resulted in the signing of Nicolas Kuhn from Rapid Vienna and loan arrival of Norwich City's Adam Idah, with David Turnbull joining Cardiff City and Mikey Johnston spending the rest of the campaign at West Brom.

Celts shelled out more than £20m on new signings across the course of last season but only a handful had any impact in the club's success. Boss Brendan Rodgers has made it clear he wants quality rather than quantity this summer as he seeks to improve the Glasgow giants' standing in Europe.