Celtic reportedly flush with cash but transfer spend signals serious concern
Celtic have released their interim accounts until the end of last year, and perhaps the most important part of the accounts, at least to supporters, is the fact that the club, as quoted by radio station Clyde 1 programme Superscoreboard’s Twitter account, have almost £31million cash in the bank.
Celtic announce interim report including:
– An increase in revenue by 16.8% to £71.5m (from £61.2m in 2016)
– Pre-tax profit of £19.5m (from 18.6m in 2016)
– Period end net cash at bank of £30.9m
— Superscoreboard (@ClydeSSB) February 8, 2018
Whilst supporters will undoubtedly be happy to see the club in such financial health, there will be serious concerns about the lack of investment in players, particularly in the January transfer window.
With the Hoops facing four Champions League group stage qualifiers in the summer, big money perhaps should have been spent in the last transfer window, to sign players who would have time to bed into the side for the matches in July.
That didn’t happen though, as the only players who are not loan signings are two centre-backs (Marvin Compper and Jack Hendry) and a player who is currently at his parent club until the end of the season (Lewis Morgan).
With the money from Virgil van Dijk’s transfer from Southampton to Liverpool also available, there really is no excuse for Brendan Rodgers not to demand that big money is spent in the transfer window in the summer.
If he gets the money required to take the club forward remains to be seen, and could well determine the Nothern Irishman’s future at Celtic Park.
In other Celtic news, Alan Brazil: I’m shocked this Celtic first teamer is still at the club
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