Celtic's plan after Arne Engels sale will 'drive everybody mad' - Keith Wyness

Celtic will not reinvest all of the money that they land from the likely sale of Arne Engels back into their playing squad.

That is according to former Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that the Hoops' board currently have a "lovely balance sheet" at Celtic Park.

Engels has emerged as a top target for West Ham United, who have already seen two bids for the midfielder knocked back, and the expectation is that he will depart before the end of the summer window.

However, Wyness believes that 50 per cent of the money made from any sale of the 22-year-old is likely to be "banked" for future need, rather than spent on new signings.

Celtic turned down a bid of £25million for Engels from Nottingham Forest back in January, and they are seemingly holding out for the same valuation this time around.

The supporters have been growing increasingly frustrated with the lack of investment in the squad this summer, and Wyness believes that the board's plan with Engels will infuriate them even more.

Celtic spending pointless without Europe

Aberdeen's former chief Wyness - who served as CEO at Pittodrie between 2000 and 2004 and now runs a consultancy business advising elite clubs - believes that there is little need for Celtic to spend big sums on players if they miss out on Champions League qualification.

The Scottish businessman believes that without the revenue from top European football, the club have little way to truly progress throughout the season.

Speaking on the latest edition of Football Insider's Inside Track podcast, he believes that the board's likely plan for the Engels money will frustrate the fans even more.

"Well, here we are talking about the board spending again at Celtic. You know what? I expect probably half of it to be spent and half of it to be kept if you go by past records," Wyness said.

"And again, that is going to just drive everybody mad. But then again, if they get knocked out of Europe, what's the point in spending? Because really, you don't really need to spend again. You need to spend to get into the top European competitions. 

"So the board are playing this game, and there's no doubt that they've got a lovely balance sheet and a lovely bank statement, but I'm afraid you can't show the fans the bank statement and say, look, we've won this instead of medals.

"So it's difficult, but in the end, as I say, I expect maybe 50 per cent to be spent and 50 per cent banked."

Celtic facing 'big banana skin' in Europe

Wyness previously told Football Insider earlier this week that Celtic's two-legged Champions League play-off tie against Austrian side LASK is a "big banana skin."

Martin O'Neill's men are just one tie away from a lucrative spot in the league phase of the competition, but fell to Kairat Almaty in embarrassing fashion at the same stage last year.

Wyness has warned that the boss simply doesn't have the necessary time to properly integrate any more new signings into the group ahead of the game.

The first leg of the tie will take place at Celtic Park on 19 August, before the return leg in Austria on 25 August.