This research draws upon a growing interest within media sociology in the ways in which news is shaped by information flows between sources; it focuses on how the media, and newspapers in particular, report on the business aspects of the UK football industry. Media interest in the workings of the City and issues of corporate governance extend beyond the conventional business pages to encompass the sports pages, commentary and even editorializing. The case study in this article centres on the Scottish club, Celtic, and serves to illustrate how public interest in sport can help illuminate aspects of how financial news is produced and reported in the print media. The article argues that much of the growing and complex business side of the game goes largely unreported and that there is evidence of an over-reliance on celebrity sources by journalists and a lack of knowledge or experience among sports reporters in reporting business stories.