Celtic defend not 'throwing money' around on deals

Celtic have defended their summer transfer business in the face of criticism from fans, insisting that "throwing money" around is "not a sustainable route to success".

The Scottish Premiership champions made that affirmation in a statement released late on Saturday, which followed "constructive" meetings with supporters' groups the previous day.

It was the club's first public missive since the transfer window closed five days ago - a window in which the Scottish Premiership champions signed 12 players.

Three of the most notable arrivals - Sebastian Tounekti, Michel-Ange Balikwisha and Kelechi Iheanacho - came after the club's Champions League qualification exit at the hands of Kazakhstan's Kairat Almaty.

That sparked anger amid fans, many of whom pointed to the failure to adequately replace departed stars such as Nicolas Kuhn, Adam Idah and Kyogo Furuhashi despite the club enjoying significant cash reserves.

And manager Brendan Rodgers has also, at times, voiced his frustration at both the timing and the nature of the business done by Celtic this summer.

Inaccurate info, Uefa regulations & how Celtic do transfers

Celtic addressed those points in their statement, which ran to more than 1,000 words. In it, they also said:

• The club takes supporters' views "extremely seriously", "understands the concerns and frustrations" and are "always willing to learn lessons"

• "Inaccurate or misleading information" has led to fans demanding clarity

• They "must adhere to our self-sustaining model" to preserve the future of the club and also to comply with Uefa's financial regulations

• Celtic's cash reserves are "not relevant" when it comes to these guidelines

• Once a player has been "identified, confirmed by the manager and is supported by the board in line with the financial model" Celtic will try to complete a deal

• Ability to sign players is "not conditional on Champions League qualification"

• The "clear goal" is to make signings as early as possible but "many factors and challenges, many of which are outwith the club's control" can affect that

• Celtic "will always continue to review and seek to improve our strategy and execution".

"We can never compromise the financial integrity of the club," Celtic's statement added. "It is important to remain disciplined in our approach.

"The cash reserves exist for the continuous improvement of Celtic and to manage the inherent volatility within football. These funds are used in a measured fashion for investment in recruitment, infrastructure, and long-term development.

"We all share the same ambition: to see Celtic succeed on the pitch while remaining strong and secure off it.

"We hope this statement provides clarity about our transfer policy and reassurance of our unwavering dedication to Celtic's short, medium and long-term success."