Celtic has just reported their financials for the 2019/20 season and they made a loss of £13 million in revenue, The Daily Record reports.
The coronavirus pandemic that forced football to be suspended across the world affected the finances of several teams and the Scottish Premiership champions were also affected.
The report claims that the sale of Kieran Tierney helped the Hoops but it wasn’t enough.
The impact of the pandemic was shown in the club’s finances as they lost 15.8 percent of their revenue from the previous season.
The sale of Tierney to Arsenal was a major source of income for them with the report claiming that they made £24.2m from his transfer.
The coronavirus pandemic has been hard on the teams around the world and Celtic is just the latest team to reveal their figures.
Arsenal’s signing of Tierney at £24.2m has been helpful to them and the defender has justified that sale.
More is expected of him as an Arsenal player, but the Scotland International has already made a fine start to life at the Emirates and fans will hope that when he reaches the end of his time here, he will have justified the outlay.