Finance Guru: Celtic facing 'Huge Struggle' in transfer market
Celtic are facing a “huge struggle” this summer as they prepare to overhaul their squad in the current financial climate.
That is according to finance expert and new Football Insider columnist Kieran Maguire, speaking exclusively with Hoops fans clamouring for a rebuild amid their calamitous season so far.
Celtic have made a habit of sanctioning a big-money exit every season in recent times — Jeremie Frimpong left the club for £11.5million in January, while Kieran Tierney was sold for £25m in 2019-20 and Moussa Dembele in 2018-19 for £19.7m.
That has been enough to keep the club in good fiscal health but revenue was down by 15.8% for the financial year ending June 2020 as the financial impact of the coronavirus crisis began to take hold.
Unluckily for Celtic, there has never been a more difficult time to get players off the wage bill, explains Maguire.
He told Football Insider: “Persuading players to go to, say Kilmarnock or Hamilton, is going to be difficult. They’re going to be happy to see out their contracts with the club because they’re on good deals and these are volatile times.
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“So unless you can get rid of those players to Europe, it’s going to be a huge struggle.
“But there’s a problem there too. The European market has really struggled, it’s been hit to a far greater extent with Covid than England, although Scotland has suffered.
“It’s tricky getting wages off the books that are on lucrative deals.
“These are difficult times for every club but particularly when you feel you need to make major changes as Celtic do.”
Celtic put an end to their six-match unbeaten run last night as they trounced Kilmarnock 4-0 at Rugby Park.
But the Hoops remain 20 points behind runaway leaders Rangers after 25 matches played, and that lead could be extended should Rangers beat St. Johnstone tonight.