'Nonsense' Celtic statement obliterated as Simon Jordan goes for the jugular over numbers used in UEFA argument

Hoops chiefs released a statement on Saturday night but it has been picked apart

Simon Jordan has hit out at Celtic for using UEFA’s financial rules as part of their reason for not spending big during the transfer window.

The Parkhead club released a statement late on Saturday night in a bid to appease fans left furious over their summer recruitment.

In a wide-ranging address, the Scottish Premiership champions highlighted the fact they “must adhere to our self-sustaining model" to preserve the future of the club and also to comply with UEFA’s financial regulations.

However, former Crystal Palace chairman Jordan dismissed that as completely irrelevant to Celtic’s summer spending given the fact their healthy balance sheet means they are nowhere near breaching new restrictions introduced this summer.

UEFA’s new financial regulations imposed in June this year means clubs can only spend 70 per cent of their revenue in areas including wages, transfers and agents' fees.

This Financial Sustainability Regulation (FSR) replaces the previous Financial Fair Play (FFP) rules which allowed clubs to spend up to €5million more than they earn during a three-year assessment period, with permitted losses for clubs rising from €30m to €60m.

Celtic’s interim report released in February showed total revenue stood at £83.5 million with the club's profit before tax being £43.9 million. Later this month they will publish their accounts for the year ending June 30, 2025, which will show an eye-watering turnover of more than £100m.

After the transfer window closed, Record Sport told how the the club only spent roughly £13 million on player arrivals despite around £32m being brought in from player departures.

And Jordan, speaking on talkSPORT, said of the club breaking cover amid supporter protests: “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 should’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 said: “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.”

“Celtic are nowhere near the challenge of UEFA. UEFA allow 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 said: “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.”

And radio show co-host Jim White said: “So, that’s nonsense, that part of the statement.”

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