Kieran Maguire salutes Celtic ‘transfer strategy’ as £6m news confirmed
The Celtic transfer model allows them to sell a big-name player per year in order to sustain a “solid” business model.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Hoops’ latest set of annual accounts.
Celtic announced on Tuesday (20 September) that they had made a profit of £6.1million for the year ending 30 June 2020.
Revenue for the year totalled £88m, with around £33m banked in transfer fees as Odsonne Edouard and Kristoffer Ajer left the club.
The figures from a season that saw the Hoops regain the Scottish Premiership title from Rangers also show that the club has £30m in cash reserves.
Maguire explained the Glasgow giants’ business model and how it allows them to remain in profit.
“These are a solid set of results,” he told Football Insider’s Adam Williams.
“You only have to contrast them with Man United, who lost £150m in the first year coming out of Covid, to see that Celtic run a settled business model.
“They are focused at all times on player trading as a means of turning losses into profits. Their strategy of allowing normally one player per season to go has once again been repeated.
“This means the club owner doesn’t have to put money in himself and it also means they can compete in terms of recruitment as far as the Scottish market is concerned.
“Also, they can have a squad that is good enough to compete at the top of the Scottish Premiership.“
In other news, pundit “sure” on Ange Postecoglou joining Premier League club after Celtic twist.