DUNDEE, SCOTLAND - MARCH 22: Celtic Interim Chairman Brian Wilson, Chief Executive Officer Michael Nicholson and Chief Financial Officer Chris McKay during a William Hill Premiership match between Dundee United and Celtic at the CalForth Construction Arena at Tannadice, on March 22, 2026, in Dundee, Scotland. (Photo by Craig Foy/SNS Group via Getty Images)
Eighteen months ago Chris McKay attempted to explain Celtic’s bulging bank balance.
Season 23/24 had been another one of great financial success for Celtic as they recorded a profit of £13.3m.
While other clubs use financial gymnastics to stay within UEFA Financial restrictions that has never been an issue for Celtic.
Rather than putting the best possible team on the park the hoops have always put the bank balance first.
Jota had been sold off at the start of the financial year with the income from that frittered away on seven project signings.
Yang Hyun-jun, Luis Palma and Marco Tilio were nowhere near the standard of the former Benfica man.
Fortunately Brendan Rodgers saved the day by signing Nicolas Kuhn and Adam Idah in the January transfer window.
The domestic double was secured by getting the better of Phil Clement with another Golden Ticket to the Champions League secured.
SELL SELL SELL- THE MCKAY MANTRA
The money would be pouring in, Matt O’Riley was sold in August 2024 with some shareholders wondering about the obsession with the bank balance.
Chief Financial Officer McKay tries to keep as low a profile as Michael Nicholson.
As the cash reserves mount and the Corporation Tax payments increase McKay raised his voice at the 2024 AGM.
Explaining the biggest bank balance in UK football, the BBC reports McKay saying:
It gives us flexibility throughout various transfer windows to invest when we need to invest.
The cash won’t last forever but if we are in the Europa League for a period of time we can run the business in normal circumstances without having to sell marquee players, and it allows us to invest in the squad.
This season lack of investment took Celtic into the Europa League.
Selling Kuhn and Idah will ensure another profit with HMRC anticipating another huge Corporation Tax payment.
The cycle of under-investing in the playing squad and management team sees Celtic sitting in third place in the SPFL Premiership.
All three European competitions are possible next season. The Conference League is as likely as the Champions League.
Celtic are selling marquee players, they don’t invest in the playing squad.
McKay is right, the money won’t last forever.
Boardroom policy is ensuring that with McKay the snarling face in the Directors Box.
A far cry from the carefree days of the nineties when he travelled with the Thornliebank Celtic Supporters Club.
Mixing visits to Pittodrie with shopping trips were a particular favourite for young McKay.
NOTE: January 2024 is the only transfer window under McKay and Nicholson that Celtic have recorded a net spend. Others call it investment.
I pity the poor retail trade of Aberdeen trying to prise money out of that bastard back in the day.
Imagine these c*nts having to put their hands into there own pockets every week like the deed clubs board were doing
You think he’d still have that smirk on his face then