It is all the fault of UEFA- the pitiful Celtic deflection taken to task

With each passing day Saturday’s statement from Celtic seems more and more ridiculous.

Social media and fan media accounts have taken apart every aspect with the claims about UEFA restrictions especially out of place.

The source of the statement remains curious, despite having a CEO and Communications Manager it looks increasing likely that Chairman Peter Lawwell was the source of the statement.

Tellingly there was no mention of Brendan Rodgers in the 1.030 words, not even a request to get behind the manager.

The tone of the statement seems very similar to the sort of reply that Lawwell would give to a question at the AGM, a mixture of patronising and sarcasm reminding the questioner of the brilliance of the person that they are speaking to and how they know much more than anyone else on the subject.

Except, that in this case Celtic fans are fairly clued up on Financial Sustainability Regulations, mainly to keep an eye on how the Ibrox Tribute Act exploit it with the suspicion that any audit is being completed at Hampden Park.

Swiss Ramble is the go-to site for all things financial, examining Celtic’s accounts for the two years up until 30 June 2024 the club is spending between 40-50% of turnover on direct football costs, well below the 70% limit that is in place for season 25/26.

In short Celtic have plenty of leeway, they could have spent every pound and euros received this summer and £15m more without threatening the 70% threshold.

And if they did the punishment isn’t liquidation and a journey through the divisions, UEFA will closely monitor your accounts in future years to ensure that you comply.

A slap on the wrist. Fans have a strong grasp of these issues, this isn’t the eighties or nineties where a nod to the Daily Record could pass off five star stadiums or bids for Vialli or Ronaldo as FACTS!

Go Ahead Eagles chairman Jan Willem van Dop was particularly blunt over the botched bids for Jakob Breum, other clubs take note when a fax from Michael Nicholson arrives with a typical low-ball bid.

We are disappointed, this season, not to compete in the Champions League, but we are determined to succeed both domestically and in Europe.

However, the Club must adhere to our self-sustaining model: to protect the present and secure the future, ensuring Celtic remains strong for generations to come. The Club’s model has been developed and applied over many years, and during that period the Club has enjoyed a sustained period of success and growth.

Further, the Club’s model is not optional – it is now essential as a consequence of the UEFA Sustainability Regulations, with which the Club must comply. Wages and transfer spending are strictly governed by UEFA’s regulations, which effectively cap wages and transfer spending as a proportion of our revenues. Importantly, the Club’s cash reserves are not relevant to the assessment of this de facto spending cap for the purposes of the UEFA regulations.

Therefore, all investment decisions must be, and are, guided by responsible forecasts of future revenues and cash flow, which by their nature are volatile. We can never compromise the financial integrity of the Club. 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.

Over many years, careful management of the Club’s model has allowed the Club to remain debt-free and to build strong cash reserves. It is important to remain disciplined in our approach. The cash reserves reflected in our accounts exist for the continuous improvement of Celtic Football Club 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 will always listen to our supporters, who have the Club’s interests at heart, in how we can continue to develop the Club within these parameters.

Infrastructure appears to have been forgotten by the club with the minutes from one of Friday’s meetings confirming that there are no plans to do anything with the South Stand (now that the padded seats and nine Executive Boxes have been refurbished).

Not since the emergence of Kieran Tierney in 2015 has the club’s Academy produced a Champions League player, with the current crop ‘graduating’ into the Lowland League it is unlikely that even SPFL level players will be produced. Losing on successive weekends to Linlithgow Rose, Bonnyrigg Rose and Alloa Athletic suggests that Ben Doak, Lennon Miller and Aaron Hickey made wise career choices. Any Robertson hasn’t looked back.

‘These funds’ as the club preciously refers to them seem to go nowhere in particular, in the coming weeks confirmation will be made of the 24/25 Corporation Tax payments which is likely to exceed the £5.2m record spend during the summer, the deadline day deal to sign Sebastian Tounekti from Hammerby.

Knowing that income was going to exceed expenditure, knowing that the transfer window target was to create a surplus, around £15m the club still went ahead with an above inflation rate rise in Season Tickets. Strictly business.

All of the reasons above explain why the club is so reluctant to announce the prices for their Europa League ticket packages which is another key fund raiser.

On Wednesday a meeting of over 400 concerned groups will plan the next wave of protests, no doubt UEFA can take the blame for that as well from the club’s network of messengers.