/Celtic expected to surpass financial targets after £9m Brendan Rodgers compensation

Celtic expected to surpass financial targets after £9m Brendan Rodgers compensation

Brendan Rodgers’ departure to Leicester is expected Celtic to exceed their yearly financial targets.

It is believed that the Premier League side had to pay £9m in order to release Rodgers from his Celtic contract while also securing the services of his backroom team.

Evening Times: Brendan Rodgers after beating BurnleyBrendan Rodgers after beating Burnley

READ MORE: Katic surprised by Kilmarnock’s ‘rugby’ approach at Ibrox

Rodgers was joined at Leicester by Chris Davies, Glen Driscoll and Kolo Toure. Celtic’s most recent financial figures revealed a net figure of £38.6m in the bank despite missing out on the lucrative Champions League group stages.

And their announcement this morning to the London Stock Exchange predicts a healthy finish to the year.

Their statement said: “Celtic PLC is pleased to provide the following trading update in respect of the period to 30 June 2019.

“The club has continued to enjoy favourable trading performance, including receiving a material compensation payment in respect of the departure of Brendan Rodgers to Leicester City FC.

Evening Times: Dermot Desmond and Peter LawwellDermot Desmond and Peter Lawwell

READ MORE: Lennon: 10-point lead piles pressure on Rangers for Old Firm

“Because of this, Celtic now expects to exceed market expectations for the current financial year.

“The club’s financial performance continues to remain subject to the outcome of a number of key events and fixtures, which typically are not known until the end of the football season.”