Chris McKay provides a detailed explanation of the purpose of Celtic’s financial reserves, stating that they will not be maintained indefinitely.
The most recent set of accounts were published in the summer, and every Celtic supporter is aware that the club is cash-rich.
Peter Lawwell disclosed that Celtic had accumulated Β£77.2 million in cash following a record turnover of Β£124.6 million in the previous year’s financial statements.
Brendan Rodgers was able to invest in the Celtic squad this summer by spending Β£11.5 million on Arne Engels and Β£8.5 million on Adam Idah.
Numerous Celtic supporters continue to maintain that the club’s substantial cash reserves warranted additional expenditures. Chris McKay, Celtic’s finance officer, provided a comprehensive explanation of the club’s future intentions during the 2024 AGM.
Celtic’s financial position serves to safeguard its “marquee players.” McKay stated, as reported by The Scottish Sun, that the disparity between the Champions League and the Europa League has never been more pronounced.
“This is readily apparent when one examines a collection of accounts associated with a Europa League team and a collection of accounts associated with a Champions League team.”
“Eight games is advantageous for us, and the potential for further complications in the league phase also introduces an additional dynamic.”
“It [cash in the bank] provides us with the flexibility to invest when necessary during transfer windows.” “Secondly, it enables us to conduct business as usual during our participation in the Europa League.”
“The cash will not persist indefinitely; however, it provides us with a buffer.” You can operate your business under standard operating conditions without the need to sell marquee players, which also enables you to invest in the squad.
Areas of the Celtic first team that Brendan Rodgers still needs to invest in Although Celtic are currently performing well in both the domestic and European leagues, Brendan Rodgers must continue to invest in order to fortify the team.
In the event of an injury to either Adam Idah or Kyogo Furuhashi, the Celtic manager must consider the addition of an additional striker to the team, as there are only two recognized strikers.
With Celtic defender Greg Taylor’s contract expiring at the conclusion of the season and Alex Valle set to return to Barcelona in the near future, it is imperative to evaluate the left-back position.
The wing area requires a new infusion of talent, even if only to challenge Daizen Maeda and Nicolas Kuhn or to provide backup in the event of either player’s injury, as Luis Palma and Hyunjun Yang are evidently incapable of maintaining a starting position.
Although Celtic supporters comprehend the necessity of safeguarding the club from a financial standpoint, a significant number of them continue to believe that in order to generate revenue, one must spend money.
This sentiment has been particularly apparent this season, as Celtic have achieved some success in the Champions League.
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