Celtic chief executive Michael Nicholson’s total remuneration package rose above £900,000 during the financial year ending June 30, 2026, according to the club’s latest annual report.

The annual report records Nicholson’s total remuneration, including pension contributions, at £904,456.

That was up from £821,681 in the previous financial year, representing an increase of £82,775, or just over 10 per cent.

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The £904,456 figure therefore represents his total remuneration package rather than his basic salary.

There is an important difference surrounding the bonus included within the latest accounts.

Celtic state that bonuses paid during the reporting year related to financial performance in the year ending June 30, 2025.

That means Nicholson’s £257,717 bonus should not be presented as being awarded specifically for Celtic’s financial performance during the 2025/26 year covered by the latest annual report.

The club reported a loss after tax for 2025/26, but directly linking that result to the bonus would give a misleading impression of how the payment was assessed.

The remuneration report states that executive performance conditions cover financial performance and personal objectives.

It also says Nicholson and chief financial officer Christopher McKay can receive a maximum contractual bonus of 50 per cent of basic salary when all required conditions are satisfied.

McKay’s total remuneration also increased during the financial year.

The annual report records his package, including pension contributions, at £626,250, compared with £532,690 the previous year.

That represents an increase of £93,560, or around 17.6 per cent.

McKay’s bonus is listed at £162,769.

The figures provide further detail on executive remuneration ahead of Celtic’s AGM on December 1.

With the club’s latest annual report now published, executive pay sits alongside a number of other financial and governance disclosures available to shareholders before the meeting.

While Nicholson’s overall package has now moved beyond £900,000, Celtic’s accounts make clear that figure includes salary, bonus and pension contributions rather than representing his base wage alone.