Celtic defend not 'throwing money at transfers' amid fan criticism

Celtic have defended not “throwing money at transfers” amid criticism from fans following the closure of the transfer window.

The club’s board released a statement late on Saturday following “constructive” meetings with supporters’ groups on Friday.

It comes after the club was criticised by large sections of its fanbase, who were disappointed by a lack of activity during the transfer window.

Three of 12 new signings at Parkhead – Sebastian Tounekti, Michel-Ange Balikwisha, and Kelechi Iheanacho – came after Celtic failed to reach the Champions League after they lost a penalty shoot-out to Kazakhstan’s Kairat Almaty.

Chants of “sack the board” have already been heard through Celtic Park, and the North Curve Celtic group shared a photograph of themselves holding up banners calling for the removal of major shareholder Dermot Desmond, chairman Peter Lawwell, and chief executive Michael Nicholson.

Manager Brendan Rodgers also called for reinforcements following the disappointment of the Champions League play-offs, admitting his side were “underprepared” for the crucial tie.

‘Inaccurate or misleading information’

Celtic addressed several points in the statement, which was over 1,000 words long, including “inaccurate or misleading information” on social media.

“Transfer activity attracts enormous attention and speculation, particularly across social media, and the mainstream media has commoditised the transfer window in its relentless search for content”, the statement read.

“In connection with Celtic, we recognise that debate around this subject reflects the passion of our supporters. Unfortunately, as is often the case in the media and social media, there is inaccurate or misleading information in circulation.

“We can never compromise the financial integrity of the club. It is important to remain disciplined in our approach.

“Therefore, all investment decisions must be, and are, guided by responsible forecasts of future revenues and cash flow, which by their nature are volatile.

“In short, throwing money at transfers and contracts is not a sustainable route to success, as many other clubs have found to the detriment of their supporters.

“The cash reserves exist for the continuous improvement of Celtic and to manage the inherent volatility within football. These funds are used in a measured fashion for investment in recruitment, infrastructure, and long-term development.

“We all share the same ambition: to see Celtic succeed on the pitch while remaining strong and secure off it.

“We hope this statement provides clarity about our transfer policy and reassurance of our unwavering dedication to Celtic’s short, medium and long-term success.”

Several key points of the statement also addressed included;

The board “understands the concerns and frustrations” of supporters and is “willing to learn lessons”.
The club “must adhere to its self-sustaining model” to secure its future.
Celtic’s cash reserves are “not relevant” when it comes to Uefa’s financial regulation guidelines.
Ability to sign players is “not conditional on Champions League qualification”.
Once a player has been “identified, confirmed by the manager and is supported by the board in line with the financial model” Celtic will try to complete a deal.
Celtic “will always continue to review and seek to improve our strategy and execution”.