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Finances of the top two Scottish clubs

The authoritative @SwissRamble has been producing two page financial fact sheets on leading clubs which can be viewed on his twitter feed.

His summary for Celtic is 'they have been profitable for the last four years, helped by good profits from player sales. Revenue fell in 2019, due to not qualifying for Champions League group stage. Low debt, high cash balance, declining net transfer spend. Highest revenue, wages and profit in Scotland.'

'Rangers have lost money in the last five years, partly due to low profits from player sales. However, revenue has more than tripled since 2015, driven by improved performance in Europe. Largest loss, debt and transfer spend in Scotland in 2019. Wages up to £34m (65% of turnover).'

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