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UEFA Report Highlights Scottish Football’s Financial Growth
Recent findings from UEFA indicate that Rangers and Celtic are making strides among leading European football clubs, reflecting a broader positive trend in Scottish football’s financial landscape. The UEFA European Club Finance and Investment Landscape Report, released on Thursday, has been described by UEFA president Aleksander Ceferin as the definitive resource for understanding the financial aspects of European football.
The report reveals encouraging developments for both Rangers and Celtic. Celtic has emerged as one of the top 20 clubs in Europe for kit and merchandise sales and ranks among the top 10 in terms of pre-tax profits.
Celtic’s Financial Position
Celtic has secured a place in the top 10 European clubs for largest pre-tax profits in 2024, achieving a profit of €21 million (£17.6 million). While this represents a decline from 2023’s profit of €47 million (£39.3 million), Celtic remains in seventh place, alongside last year’s Europa League victors, Atalanta.
Leading the list is Bayern Munich, which reported a pre-tax profit of €63 million (£52.7 million), contributing to a strong representation of Bundesliga clubs in the top tier. Celtic’s successful player trading model has played a crucial role in their financial stability, buoyed by consecutive Champions League campaigns and the high-profile transfer of Matt O’Riley to Brighton, which established a new record transfer fee for a Scottish club.
Rangers’ Revenue Growth
Rangers also made their mark by ranking among the top 20 clubs in Europe for gate revenue in 2024, generating €53 million (£44.4 million), matching figures reported by Borussia Dortmund. Although they slipped one spot to 19th place according to UEFA, this figure represents a significant increase of 47 percent compared to the €36 million (£30.1 million) recorded in 2019.
This upward trend is a result of sustained growth in performances and attendance at home matches. Rangers have reestablished themselves as a competitive force in European football, highlighted by their memorable run to the Europa League final in 2022, which significantly boosted matchday revenues.
Efforts to enhance stadium capacity and improve fan experiences have contributed to this growth, including the opening of New Edmiston House, a facility that houses the club museum and fan zones on matchdays. According to UEFA, total gate revenues in Europe have seen an increase of 11 percent, with Scottish clubs benefiting from enhanced crowd attendance post-pandemic.
Celtic’s Merchandising Success
Additionally, Celtic ranks in the top 20 for kit and merchandising revenues, reporting €35 million (£29.3 million) for 2024. This figure shows considerable growth, with a €14 million (£11.7 million) increase since 2019. The club’s successful domestic performance and a lucrative kit deal with Adidas are likely factors driving this revenue surge.
Real Madrid stands out in this category, boasting a staggering €196 million (£164 million) in kit and merchandising revenue. Nevertheless, Celtic’s results are indicative of their growing global appeal, making up 24 percent of the team’s total revenue for the year.
Positive Trends Across Scottish Football
The report also highlights broader positive trends in Scottish football, with domestic TV revenue experiencing a 20 percent increase from 2022, totaling €32 million (£26.8 million) and positioning Scotland 16th among European nations. Overall, the total revenue for Scottish clubs reached €357 million (£299 million), reflecting a 14 percent increase and ranking the nation 11th across Europe.
In terms of gate receipts, Scotland secured seventh place with €130 million (£109 million) collected during 2024, showcasing a 4.3 percent increase from the previous year. The financial health of clubs in Scotland is further demonstrated by total net equity standing at €269 million (£225.2 million), with only a couple of clubs reporting negative equity.
Importantly, Scotland also ranks first in Europe for club ownership, with 100 percent of clubs operated privately, a significant aspect of the nation’s football identity and administration.
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