They may not be the most popular people in Glasgow’s East End, but boy do the Celtic board know how to run a football club.
It’s not that long since chairman Peter Lawwell was telling disgruntled supporters to “calm doon” in Paisley before a recent win over St Mirren. Fans were frustrated that insufficient funds were being released to the manager in the recent transfer window.
Celtic’s latest balance sheet begs to differ. A point Lawwell was only too happy to reinforce as he purred over the profit and loss ledger.
Here’s what stood out to me in the club’s freshly published figures to the end of June 2024.
A bank balance – at that time – of over £77m. Transfer fees paid for players over the past three years: £100m. Let that sink in for a moment.
You can understand why directors are left scratching their heads when some supporters claim the ‘biscuit tin’ mentality still prevails at Celtic Park. It’s very far from the case.
Granted, you can point to the fact the net spend is significantly lower. In the past year alone, Celtic have brought in over £60m for Jota, Liel Abada and Matt O’Riley.
The point remains, however. One thing you cannot seriously accuse the Parkhead blazers of is failing to open up the purse strings. Their problem in the summer of 2023 was that a large portion of the cash was squandered. The same cannot be said now.
Lawwell couldn’t help himself, in the chairman’s statement accompanying the accounts, from ramming all this down the throat of anyone reluctantly reading.
A total of £68m spent on players in the past three accounting periods. More than £30m spent this summer alone. Most valuable squad in the entire history of the club. And most importantly, all achieved with a winning side on the park.
Which is a worry for everyone else in Scotland.
Having secured the double in his first season back, Brendan Rodgers asked the board to back him, and they delivered the club’s two most expensive signings in Adam Idah and Arne Engels.
Lawwell didn’t name them in his statement, but he made sure to mention their big-money arrivals.
Celtic are cash rich, financially stable and the only thing they’re struggling with is space for all their domestic honours. Lawwell couldn’t resist underlining the number of prizes Celtic have picked up in the last 25 years.
Thirty eight trophies since the 1999-2000 season kicked off, in which period they’ve been Scottish champions 18 times.
Given the manager, squad and board in place at present, it doesn’t look this era of Parkhead power play is likely to end any time soon… and I think the chairman knows it.
