The accountancy organisation states the Scottish champions generated record income of £101.6 million in 2017-18, but that figure is still well short of the £665.2m that Real Madrid – the biggest earners – produced.
Barcelona are second (£611.6m), with Manchester United third (£590m). Nine English top-flight clubs are included in the top 20 of highest-earning clubs – with those combined revenues growing six per cent to £7.4 billion.
Exact placings for the Old Firm are not available, but Celtic are between 40 and 50 on the list, while Rangers are further back beyond 70.
Match day is the biggest individual income stream for Celtic at €44.6m (£38.8m), with broadcast at €38.4m (£33.4m) and commercial €31.7m (£27.6m). The report states: “Celtic generated record revenue of £101.6m in 2017-18. This is mainly driven by qualification for, and performance in, the Champions League; Uefa distributions accounted for 29 per cent of revenue in 2017-18.
“However, the impact of failing to qualify for this season’s Champions League may be mitigated somewhat by the club’s recent record shirt front sponsorship (Dafabet) and technical kit (New Balance) agreements.”
While Celtic lag behind their eminent European counterparts, they remain the biggest financial force in the domestic game. The Global Sports Salaries Survey, which was published last November, reported that Brendan Rodgers’ side paid an average yearly wage of £865,614, nearly £400,000 more than rivals Rangers (£466,556), who were second on the list.
Aberdeen trailed even further behind in third, paying £138,667.