Celtic’s statement to the Stock Exchange on Thursday afternoon could’ve been easily summarised as Jota jargon for the benefit of the balance sheet.
It said: “Celtic now expects earnings for the year ended 30 June 2023 will be significantly higher than expectations, which were formed before the conclusion of the season and prior to player disposals.” “Significantly higher” can be quantified as the £25million pocketed from Saudi Arabian club Al-Ittihad in exchange for the Portuguese winger.
“Player disposal” is the bean counters’ way of describing a transfer in financial analyst terms but it doesn’t quite tell the full significance of the story. It’s like me describing my wife of the last 52 years as my significant other and not going into greater depth. The fee for the player disposed of, added to the considerable sums of money Celtic already have in the bank, estimated at £50million, means the club’s statement could’ve easily been abbreviated.
