Glasgow Celtic Football Club has reported pre-tax losses of more than £2m for the year ending 30 June 2010, having made a profit of £2m in the previous year.

The Scottish Premier League club has also seen net bank debt grow from £1.51m to £5.85m, after an unsuccessful season on the pitch and an increase in player purchases. Celtic chair Dr John Reid said: "When considered in the context of the season that we had, and the changes that had to be made as a result of poor football results, this outcome, heavily influenced by exceptional costs, is not overly disappointing.

"Our financial strength and management of resources have stood us in good stead to date and we aim to ensure that remains the case, investing where and when we can and taking up new opportunities when they arise." Elsewhere, fellow Scottish Premier League club Motherwell Football Club (MFC) has said it may issue a winding up order against Cardiff City Football Club (CCFC) over the non-payment of a transfer fee.

According to MFC, it is owed £175,000 plus interest and costs by the npower Championship club in relation to CCFC's acquisition of Paul Quinn in June 2009. MFC said that CCFC had failed to turn up or submit a defence against a petition issued at Hamilton Sheriff Court on 13 August, and would now be considering other legal alternatives.

Club chief executive Leeann Dempster said: "Given all these circumstances and with legal and moral weight behind us, Motherwell FC have no option but to immediately pursue all legal routes to ensure this significant sum is paid to us as quickly as possible. "These may include issuing a winding up order, arresting assets or physically sending bailiffs to their ground on match day to take possession of cash. Every option will be fully considered and implemented as soon as possible."

Woking Football Club of the Blue Square Bet South competition has revealed that its financial troubles were "accumulating at a faster rate than feared".

Chris Ingram has stepped in as acting chair after underwriting £200,000 worth of losses for the financial year, with Shahid Azeem vacating his role of chair and director.