Celtic have avoided 'big disaster' after £12m confirmation - pundit
Celtic have avoided “a big disaster” by selling Odsonne Edouard and Kristoffer Ajer for “massive fees”.
That is the view of former Tottenham and England goalkeeper Paul Robinson, speaking exclusively to Football Insider about Celtic’s financial results for the year ended 30th June 2021.
Celtic revealed their annual financial results last Tuesday where they posted a pre-tax loss of £11.5million.
That was an £11.4million drop from the £0.1million profit made in the previous year.
In a statement that followed the results, Hoops chairman Ian Bankier pointed to the impact of Covid-19 on the club’s finances.
He added that the club have “measured confidence” in their prospects both on and off the pitch despite the loss.
Subscribe to Football Insider TV now
When asked by Football Insider for his assessment of the annual accounts, Robinson said:
“It’s not a big disaster for Celtic because they have got the money from [Odsonne] Edouard and [Kristoffer] Ajer to come into the equation. Let’s not forget that they got massive fees for both of those players when you consider their contracts were about to run out.
“I think an £11.5million loss is around about what they would expect for a year which was affected by Covid.
“Every club has struggled as a result of Covid. It’s been a difficult time.”
Celtic could earn as much as £20million from Edouard’s sale to Crystal Palace, while Brentford signed Ajer for £13.5million.
Both players’ contracts at Parkhead were due to expire at the end of the 2021-22 campaign.