Celtic accounts reveal £1.6m executive pay packages amid sharp retail revenue decline
Celtic’s latest financial accounts have revealed significant increases in executive remuneration, alongside a sharp decline in retail revenue and fresh questions surrounding the club’s boardroom governance.
The Scottish champions’ annual report for the financial year ended June 2026 shows that chief executive Michael Nicholson received a remuneration package worth £904,456, including pension contributions.
That represents an increase of £82,775, approximately 10%, from the previous year’s figure of £821,681.
Chief financial officer Chris McKay also saw his package increase to £626,250, taking the combined remuneration of Celtic’s two senior executives to more than £1.53million.
The figures come amid growing scrutiny of the club’s boardroom, with supporters questioning Celtic’s recruitment strategy and long-term direction.
Elsewhere, Celtic’s retail and e-commerce revenue fell by approximately £4.9million, dropping from £23.137million to £18.206million, a decline of around 21%.
The reduction coincides with the ongoing Not Another Penny supporter campaign, although the accounts do not establish how much of the decline can be attributed directly to the boycott.
The report also reveals that Celtic committed £31.6million to six permanent signings following the financial year-end, with a net cash balance of £1.7million still payable on those transfers.
Meanwhile, £8.2million was recorded in costs relating to current and future contractual obligations to football personnel released during the financial year.
Further details surrounding the club’s governance have also emerged, with principal shareholder Dermot Desmond reportedly represented by a proxy at all six board meetings rather than attending personally.
Celtic also confirmed that an external board evaluation, originally promised for 2026, has been postponed until the board settles following recent changes and appointments.
The club operates a rolling five-year business plan, although its contents remain private.
With Celtic’s AGM scheduled for December 1, the latest revelations are likely to intensify scrutiny of the board, particularly as supporters continue to demand more accountability and a clearer long-term strategy.
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