European failure helps put Celtic £3.9m in the red

Celtic have announced a pre-tax loss of £3.95 million (€5.3m) last season.

The deficit for the year ending June 30 followed a profit of more than £11m (€14.9m) in the 2013-14 campaign.

Revenue fell by more than a fifth to £51.1m, a fall attributed to a drop in transfer income and the failure to reach the Champions League.