Finance expert Kieran Maguire sets record straight on Celtic UEFA rules claim

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Celtic like to wear their financial strategy as a badge of honour.

The club’s hierarchy enjoy pointing the finger across the city when it comes to balancing the books – but for Brendan Rodgers, they can sometimes get their priorities mixed up.

Matt O’Riley, Jota and Nicolas Kuhn are three of many examples of the club’s player trading model reaping major financial rewards.

But when vast cash reserves can’t prevent a squad with half an attack from losing a Champions League qualifier against Kairat Almaty, it’s understandable that Celtic fans are protesting against the board.

In a controversial Celtic statement intended to address the discontent, the club mentioned UEFA’s financial rules as a constraint – but one football financial expert has strongly indicated against this with his analysis.

Celtic UEFA rules claim addressed by Kieran Maguire

UEFA’s rules state that clubs can spend 70% of revenue and player sale profits on player wages and amortisation. Essentially, they can’t spend everything on the playing squad, but they can spend a good chunk of it.

READ MORE: What Kieran Tierney’s ‘problems’ say about Greg Taylor’s importance for Celtic according to Andy Walker

Celtic’s statement said: “The Club’s model is not optional – it is now essential as a consequence of the UEFA Sustainability Regulations, with which the Club must comply.

“Wages and transfer spending are strictly governed by UEFA’s regulations, which effectively cap wages and transfer spending as a proportion of our revenues. Importantly, the Club’s cash reserves are not relevant to the assessment of this de facto spending cap for the purposes of the UEFA regulations.”

So how close are the Hoops to this “de facto spending cap”? Kieran Maguire is well-versed in the world of football finance, and regularly contributes to major media outlets with his analysis.

Looking on his X account, Maguire made an educated guess on how much the Hoops could afford to spend without breaching the regulations.

The graph shows that not only are Celtic nowhere near violating the rules, but every Scottish Premiership team from last season bar one is actually closer to the limit.

Given the narrative that the club tried to push here, this is laughable stuff.

What did Michael Nicholson say about Celtic’s financial report?

Celtic’s annual financial report was released last month, and despite being loaded with numbers and fancy wording which was criticised by English executives, it included a message about on-pitch results from Michael Nicholson.

It said: “Our objective each year is to compete in the Champions League. Unfortunately this season, we suffered a loss on penalties in the tie against Kairat Almaty, which resulted in Europa League entry instead.

“As a Board, we take responsibility for the failure to achieve that key objective and commit to improving going forward.”

This certainly sends a different message with a different tone about how the club reflects on the summer. Ultimately, actions will speak louder than words.