Celtic have spent almost £100m in last THREE years as Peter Lawwell lays bare staggering transfer spree
Peter Lawwell has revealed that Celtic have spent almost £100MILLION on new players over the last three years.
The Hoops twice shattered their transfer record this summer to sign £11m Belgium playmaker Arne Engels and £9.5m Irishman Adam Idah. The big-money arrivals were also joined by Kasper Schmeichel, Viljami Sinisalo, Auston Trusty, Paulo Bernardo and Luke McCowan, as well as the loan star Alex Valle, during a staggering £31.2m spending spree.
And after announcing the club's annual report for the year ended June 2024, which includes an eye-watering £77.2m in the bank, chairman Lawwell laid bare the extraordinary sums shelled out since 2021/22 that has resulted in the most expensive squad in the club's history.
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In a lengthy statement issued to the London Stock Exchange, the Parkhead supremo revealed the board had sanctioned £68m worth of funds over the last three financial years to June 2024, with an additional £31.2m being splashed out this summer - a combined total of £99.2m.
Lawwell said: "Further to the investment in player registrations of £13.0m in the previous financial year ended 30 June 2023, the Club made significant investment by committing an additional £16.6m in the year under review. This took our total spend to £68.0m over the three financial years to 30 June 2024. Since the year end, and up to the closure of the transfer window on 30 August 2024, we have invested a further £31.2m into player registrations (including transaction costs). Over the summer transfer window, we twice broke the Club’s previous record transfer. As a result of this period of sustained investment, our current squad carries the highest value and resulting amortisation charge in the Club’s history, by a considerable margin."
Lawwell - who has been accused by some in the Hoops support of hoarding cash in recent years - also highlighted Celtic's unprecedented period of dominance in Scottish football. Celts have won an incredible 38 trophies in the last 25 years, including 18 titles, to go level with Rangers' cherished trophy haul of 118 major honours.
Lawwell continued: "Winning the Scottish Premiership in 2023/24 resulted in automatic qualification into the new UEFA Champions League format for season 2024/25. This new structure brings more variety, the opportunity for more teams to participate at the highest level and a fresh dynamic for fans to enjoy. Last year’s Scottish Premiership and Scottish Cup trophies brought our total men’s team honours to 118, including 54 league titles, 42 Scottish Cups, 21 League Cups and a European Cup. When compared to the 80 trophies won by the start of season 1999/2000 this represents a truly remarkable achievement over the last 25 years.
"We are also firmly established as a European club from a participation perspective. Over the same 25-year period we have participated in either knock-out round or group stage European competition in 23 seasons, 12 of which were in the Champions League. As well as delivering domestic success, we are determined to progress as far as possible in European competition and improve upon our recent record. We cannot and must not be complacent and we must strive for progression as a club as the football industry evolves at a remarkable pace."
Chief executive Michael Nicholson has vowed the club won't stand still as they seek to remain the top dogs in Scotland and make their mark in the Champions League.
He added: "Whilst it is important to reflect on our success, we must look forward. There is no room for complacency. We cannot stand still and we are determined to improve. In support of our strategic objectives of dominating domestic football and competing in the Champions League, we have continued to invest across the Club."