Simon Jordan has dismissed the notion that Celtic could've found themselves in bother with UEFA had they decided to splash the cash this summer.
In response to angry supporters and unrest among the wider fan base, Celtic released a statement on Saturday night responding to various topics surrounding the club's lack of spending in the market, which closed on Monday, September 1.
The Hoops spent roughly £13m on players during the summer, but they raked in around £32m in sales.
Within the statement, club chiefs pointed out UEFA's Financial Sustainability Regulation (FSR), which they 'must adhere to our self-sustaining model'.
Jordan isn't quite sure where that adds up though, having done the maths.
Clubs involved in UEFA competitions can only spend 70 per cent of their revenue in areas including wages, transfers and agents' fees.
They can also spend up to €5m more than they earn during a three-year assessment period, with permitted losses for clubs rising from €30m to €60m.
Celtic's last report of their finances concluded that their revenue stood at £83.5m, with the club's profit sitting at £43.9m.
“The challenges I have with their statement is that they’re making UEFA’s governing rules part of the reason they can’t do certain things," he said on talkSPORT. "Well, Celtic made £35m and £11m profit the previous season so the £60m losses they are allowed to have under UEFA sanctioning is irrelevant to this conversation.
"So when they use the fact they’ve got to run their football sustainably - which I don’t suggest they shouldn't - and when they suggest there’s certain restrictions on transfer fees and wages because of UEFA’s governance, they’re absolutely right.
"But what’s that got to do with Celtic’s position?
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“Celtic are nowhere near the challenge of UEFA. UEFA allows them to lose 60 million euros every three years. Celtic have made 44 million euros profit over the last two years which means there’s somewhere in the region of 110 million euros worth of difference - if not more - so I’m not entirely sure why they feel the need to wheel that in because it’s not true.”
Another part of Celtic's statement read: “Transfer activity attracts enormous attention and speculation, particularly across social media, and the mainstream media has commoditised the transfer window in its relentless search for content.”
Jordan added: “I agree with the principles of the statement, saying that the transfer window has been commoditised. Of course it has. It’s a main industry now, in terms of people talking about the content around transfer windows, and what’s happening at football clubs. It’s part and parcel of the business of show.
“But I am not blaming the media for the result (losing to Kairat Almaty). I am blaming Brendan Rodgers and the players on the field for the result, and perhaps the ownership model.”
