MICHAEL NICHOLSON says the Celtic board “take responsibility” for recruitment failures in the summer.
The club’s chief executive admitted they “did not achieve all of our objectives in the transfer window” which has provoked an angry response from a section of the champions’ support.
Chairman Peter Lawwell acknowledged the bosses “recognise and share the frustration and disappointment of our supporters with respect to the timing of some of the incoming acquisitions”.
There was fury among the fanbase after Brendan Rodgers’ side toppled out of the Champions League after an embarrassing setback against Kazakhstan’s Kairat Almaty, a team rated 311th in UEFA rankings.
The expulsion from Europe’s most prestigious competition cost the Parkhead outfit £40million as they dropped into the Europa League.
Following the shock reverse the club spent £9.7million in bringing in wingers Sebastian Tounekti and Michel-Ange Balikwisha, agreed a season-long loan deal with Boca Juniors left-back Marvelo Saracchi and signed Nigerian striker Kelechi Iheanacho as a free agent from Sevilla.
There was criticism from the fans the players had not been signed before the dismal play-off performances and that followed boss Brendan Rodgers publicly questioning the timing of signings.
Many supporters penned an open letter to the club demanding answer to their transfer strategy while they also staged a delayed protest before the team’s 2-1 win over Kilmarnock at Rugby Park last weekend.
Ahead of the imminent AGM, Nicholson stressed the support of fans is “never taken for granted”, while Lawwell added: “The board shares the ambition of our supporters to see the strongest possible team on the pitch and will continue to balance short-term performance with long-term financial stability.”
Lawwell, speaking in a club statement, added the “value of the squad is the highest it has been in the history of the club” with £77.5million spent over the last three years.
“We recognise and share the frustration and disappointment of our supporters with respect to the timing of some of the incoming acquisitions. We will always look to improve how we operate and overcome challenges where possible.”
Lawwell also revealed the club’s wage bill is now at unprecedented levels due to the ramp up in recruitment from last summer – with the record breaking arrivals of £9.5million Adam Idah and then £11million Arne Engels.
The club posted a revenue figure of £143.6million – up 15 per cent – following a season that saw them lift their fourth successive title and the Premier Sports League Cup as well as reaching the Champions League knock-out play-off.
