Celtic have been given the go-ahead to build an £18million hotel complex next to their stadium.
Glasgow City Council have announced that they have granted planning permission for the Scottish champions to transform the area around Parkhead.
Club chiefs unveiled their masterplan for the development, which will be based outside the main stand of Celtic Park in February, which also includes a new museum, superstore and ticket office.
The Sun reported earlier this month that the cost of the project is expected to be in the region of £18million.
Richard Brown, executive director for development and regeneration services at Glasgow City Council, has written to Celtic informing them planning consent has been granted.
No objections were lodged to the plans and the decision notice states that building work must be commenced within three years.
In a statement to the council in support of their application Celtic said the new deal would create up to 120 jobs, provide and economic boost to the area and reduce congestion around the stadium.
Plans for the hotel building states it will be up to five storeys in height and will include a restaurant, cafe and bar.
Details of the project’s approval emerged a week after the treble-winners, who defeated Anderlecht 3-0 in the Champions League on Wednesday, revealed pre-tax-profits had rocketed to £6.9million.
OPINION
Celtic are able to fund this new development because they are currently so strong on and off the pitch. The club’s financial results announced last week were more healthy than a plate of broccoli. Annual revenue has rocketed to £90.6million and pre-tax profits were nearly £7million. With Brendan Rodgers’ side hopeful of clinching third place in their Champions League group, participation in the Europa League after Christmas is a real possibility. This promises to increase revenue streams as well as give the club a chance of European glory. Celtic are in fine fettle, and funding this £18million project is very feasible as they go from strength to strength.