Simon Jordan annihilates 'nonsense' Celtic statement as UEFA finances argument ripped apart in brutal verdict
Hoops officials released a statement on Saturday evening but it has been filleted by the talkSPORT co-host
Simon Jordan has obliterated Celtic for using UEFA’s financial rules as part of their reason for not splashing the cash during the summer transfer window.
Various supporters groups, fan media and supporters clubs united in protest over the club’s lack of recruitment with over 350 fan entities from around the world signing an open letter containing seven explicit questions demanding answers from the board.
Celtic subsequently released a wide-ranging statement on Saturday evening, highlighting the fact they “must adhere to our self-sustaining model” to preserve the future of the club and to comply with UEFA’s financial regulations.
However, outspoken former Crystal Palace chairman Jordan reckons that was completely irrelevant to the Scottish champions summer spend given their healthy financial position means they are nowhere near breaching new restrictions imposed in June this year.
Clubs can now only spend 70 per cent of their revenue in areas including wages, transfers and agents' fees, with the Financial Sustainability Regulation (FSR) replacing the previous Financial Fair Play (FFP) guidelines which allowed clubs to spend up to €5 million more than they earn during a three-year assessment period.
Celtic’s interim report released back in February confirmed a total revenue of £83.5 million with their profit before tax being £43.9m. Club officials will publish their latest accounts for the year ending June 30, 2025 in the coming weeks, which is expected to show a mega turnover of more than £100m.
After the transfer window closed on September 1st, it was revealed that Celtic only spent in the region of £13m on player arrivals despite bringing in around £32m from player departures.
Celtic statement ripped apart by talkSPORT co-host
And speaking on talkSPORT, Jordan said: “The challenges I have with their statement is that they’re making UEFA’s governing rules part of the reason they can’t do certain things.
“Well, Celtic made £35m and £11m profit the previous season so the £60m losses they are allowed to have under UEFA sanctioning is irrelevant to this conversation. So when they use the fact they’ve got to run their football sustainably - which I don’t suggest they shouldn’t - and when they suggest there’s certain restrictions on transfer fees and wages because of UEFA’s governance, they’re absolutely right. But what’s that got to do with Celtic’s position?
“Celtic are nowhere near the challenge of UEFA. UEFA allows them to lose 60 million euros every three years. Celtic have made 44 million euros profit over the last two years which means there’s somewhere in the region of 110 million euros worth of difference - if not more - so I’m not entirely sure why they feel the need to wheel that in because it’s not true.”
Celtic also stated: “Transfer activity attracts enormous attention and speculation, particularly across social media, and the mainstream media has commoditised the transfer window in its relentless search for content.”
Jordan responded: “I agree with the principles of the statement, saying that the transfer window has been commoditised. Of course it has. It’s a main industry now, in terms of people talking about the content around transfer windows, and what’s happening at football clubs. It’s part and parcel of the business of show.
“But I am not blaming the media for the result (losing to Kairat Almaty in the Champions League qualifier). I am blaming Brendan Rodgers and the players on the field for the result, and perhaps the ownership model.”
Co-host Jim White added: “So, that’s nonsense, that part of the statement.”