“Disappointing to us all, and never the intention,” Peter Lawwell on Celtic’s January window.

“Disappointing to us all, and never the intention,” Peter Lawwell on Celtic’s January window…

Celtic PLC presented an interim report with the following important highlights:

The Celtic PLC bank account was expected to be in the red by £100 million, but the actual figure is slightly more than £67 million. The PLC has made significant investments in the creation of new Barrowfield training facilities, upgrades to Lennoxtown, and additional stadium improvements at Celtic Park. Celtic have invested in its current playing personnel, with numerous first-team players earning contract extensions and hefty compensation increases.

Celtic PLC Chairman Peter Lawwell provides the narrative to accompany the data, and, unusually, he also discusses the club’s difficulties during the January transfer window. Targets were unavailable because clubs would not sell, and Lawwell reveals that substantial interest in many players (O’Riley, Abada, and possibly one or two others?) was turned down in each case.

From the Chairman’s Statement in the Celtic PLC Interim Report, Peter Lawwell wrote:

“In terms of funding, the cash and cash equivalents balance decreased from £72.3 million to £67.3 million throughout the review period. A large chunk of this money will be used to build a new training facility at the Barrowfield site, complete the Lennoxtown developments, and fund future stadium projects.

“The Board acknowledges the inherent inefficiencies of keeping surplus cash and, in conjunction with other cash obligations, the significance of investing in team building to achieve football success. The Board understands the supporters’ disappointment with the lack of activity during the last transfer window.

We have invested £23.9 million in player investment since the transfer window opened in June 2023 and through the winter transfer window, which finished on February 1, 2024. Within this, we renewed and extended the contracts of Cameron Carter-Vickers, Liel Abada, Matt O’Riley, Anthony Ralston, and Reo Hatate.

“The Board’s aim is to strengthen and improve the playing squad in each transfer window, and while resources were available, we were unable to add to the squad due to the lack of specified targets. This was disappointing for all of us, and it was never the aim. The January transfer window is famously difficult because teams, like ourselves, are reluctant to let their finest players leave at such a critical time of the season. Indeed, we rejected intense interest in our players from rival clubs.

“It is worth noting that transfer activity in England was the lowest it has been in over ten years, excluding the impact of Covid-19.” A number of reasons have been given for this, including a lack of suitable players and new UEFA regulations that impose spending limits.”

The January transfer window was a tremendous disappointment for all Celtic fans. After hearing manager Brendan Rodgers speak about the need for quality additions following another unsuccessful Champions League campaign, expectations were increased that the necessary signings would arrive in the January window.

With Nicolas Kuhn as the only permanent signing and Adam Idah joining on loan from Norwich City, it’s fair to say that the fans was frustrated and disappointed. Brendan Rodgers said today that eight victories and two draws felt more like eight defeats and two draws, but those draws changed a two-point lead into a two-point deficit, and for whatever reason, the squad isn’t performing well.

Whatever happens in the league and Scottish Cup will be decided by the club’s present players, who should be capable of delivering the success that the fans crave. However, in terms of the Champions League, we are still a long way from improving our squad.

What Peter Lawwell does not explain is a shift in approach away from project acquisitions and toward recruiting high-quality, experienced players ready to make an impact in the Champions League. Two of our summer initiatives were signed and then thrown into the Champions League in Rotterdam during the competition’s first match. Both received red cards. It is a harsh tournament, and with the current levels, we cannot expect a different outcome next season unless there is a significant investment in the squad this summer.

If we enter the summer window as champions – and the bookies now put us as second favourites – the Champions League windfall will be significant. Otherwise, it’s qualifiers, which will be spent before those are resolved? Do we ever win these, anyway?

The January transfer window failures and frustrations, as outlined by Peter Lawwell today, may still be giving us trouble in the summer.

View the Celtic PLC Interim Report and Peter Lawwell’s entire statement on the club’s official website.

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