Vasilios Barkas returns to Celtic Park on Thursday, four and a half years after his last appearance at the ground. That 1-1 draw with Midtjylland was our first home game in front of fans in 16 months, with 9,000 allowed to attend. It was also Vasilios’ only appearance for Celtic in front of a home crowd. The goal conceded led to a curtailment of further chances for the keeper.
He was awful at Celtic but it would be a mistake to assume that is an accurate assessment of his abilities. His reputation blossomed since moving to Utrecht, where he has remained first choice for over three years. He is better than any of us remember and will do his best to demonstrate this on Thursday.
Barkas arrived at Celtic late July 2020, when unnecessary travel was prohibited, including trips to scout a keeper. Fraser Forster had just completed an incredible season and had returned to parent club Southampton, who agreed in principle to a return to Celtic the next season, when they had secured backfill.
Fraser told the club and his pal Craig Gordon he was also keen on a return. As a consequence, Craig, who was out of contract, rejected a Celtic deal and went to Hearts for less than half the money Celtic offered, in order to play first team football. A week later, Southampton got cover and green-lit the deal for Fraser. Fraser, though, thought he had a bite at Chelsea, so backed out. These events lost Celtic a known keeper and cost Craig a lot of money.
No travel, no fresh scouting, where do we go? Barkas played for the AEK Athens team who eliminated Celtic from Champions League qualification two years earlier. The deal was done.
Vasilios arrived in Scotland alone, unable to speak the language and not permitted to socialise. Players were not even allowed to eat together, they had breakfast and lunch in their cars at Lennoxtown. After training, he went home, and cooked and cleaned for himself. If you anything about young footballers, those tasks are not familiar territory. Barkas was one of millions of desperately isolated people that year.
He was not alone suffering this way at Celtic that season. Others – who travelled up from England – fared even worse personally, but there is no hiding place between the sticks and Vasilios was exposed. Celtic adhered scrupulously to the rules that season. This had a cost which not every club was prepared to pay. Some believe rules are too taxing.
I don’t know if he will suffer some mild form of PTSD when he walks out the tunnel on Thursday evening, or if he will rise to the occasion, fortified by his subsequence successes. Best of luck to him, either way.
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An Tearmann on 27th January 2026 7:44 pm
Celtic admin side(non playing) important fig.
1.Brother Walfrid
2.Fergus McCann.
3.Willie Maley
————————
John H McLaughlin: Celtic Founding Father, Fallout Bhoy, Rangers Glee Club Pianist & Man Who Brought Professional League Football To Scotland
With his work underway in terms of the Scottish League, McLaughlin stepped up to the mark for Celtic in 1892. When the landlord attempted to raise Celtic’s rent from £50 to £450 per annum, McLaughlin remarked “Being an Irish club, it is but natural that we should have a greedy landlord.” According to the combined research of Pat Woods and Tom Campbell, in their incredible book (Dreams & Songs to Sing), McLaughlin was partly the originator of the Paradise nickname for the new Celtic Park, which a local pressman then famously utilised in the headline ‘From The Graveyard to Paradise’. It is said that the Celtic AGM in 1892 witnessed McLaughlin telling his peers that when the new stadium was complete “A desert would become a garden of Eden.” In response, one member said “Would the players dream of Paradise when flitting on its sword?” Shortly after, the local press described the ground as like moving from the graveyard to Paradise. It seems too peculiar to be a coincidence.
https://thecelticstar.com/john-h-mclaughlin-celtic-founding-father-fallout-bhoy-rangers-glee-club-pianist-man-who-brought-professional-league-football-to-scotland/#:~:text=Willie%20Maley%20spoke%20of%20the,honest%20and%20better%20organised%20sport.%E2%80%9D
John Glass – The Man To Whom Celtic Owes Its Existence
fter all, in Willie Maley’s book, The Story of The Celtic, John Glass is accredited as ‘the man to whom Celtic FC owes its very existence’. Indeed, without diminishing the role of other founding fathers, it could well be argued that Brother Walfrid was the main man responsible for founding Celtic Football Club, whilst Glass was the man who established it.
John Glass died on 2 June 1906. His legacy lives on in the sense that without him there would be no Celtic, and for that reason it is criminal that his story is not better known. He is laid to rest at Dalbeth Cemetery, in Glasgow’s East End.
His greatest quote should, in my opinion, be on the walls of Celtic Park as a permanent tribute. After all, it is more relevant now than ever before: “Let them scoff and jeer. Celtic will yet win to their proper position by their merits and those who scoff today will one day have to applaud!”
https://thecelticstar.com/john-glass-the-man-to-whom-celtic-owes-its-existence/
Good stuff.
Saint Stivs on 27th January 2026 10:30 pm
John Glass – The Man To Whom Celtic Owes Its Existence
Quad- i don’t think MON is one to meekly accept getting hung out to dry
vinniethedog on 26th January 2026 10:58 am
Auldheid…Don’t the huns have to abide by FSR ???
After all we made 50 million more and they’ve lost money for years !!
Yet they’re spending like money is going out of fashion …huge squad I presume huge wage bill…yet it doesn’t seem to concern them in the slightest…..would you like to explain why …FSR applies to us and not them ???
=============
I did not forget your question, just took me a while to get back to it.
Here is where Rangers are in FSR Squad Cost Ratio terms based on arithmetic and latest accounts
1. SCR formula (reminder)
Squad Cost Ratio (SCR)
SCR
=
Squad Costs
Adjusted Football Earnings
SCR=
Adjusted Football Earnings
Squad Costs
Where:
Squad costs (numerator)
Player wages
Coaching & football staff wages
Player amortisation
Agents/intermediaries
Adjusted football earnings (denominator)
Matchday
Broadcasting
Commercial
UEFA prize money
Net player trading profits
❌ Equity injections excluded
2. Rangers – latest published inputs
A. Adjusted football earnings (baseline)
From the latest accounts:
Total revenue: ~£94m
Less: non-football / exceptional items (minor)
Add: net player trading profit (small / neutral)
➡️ Adjusted football earnings ≈ £90–95m
To stay conservative, let’s use:
£94m (round, generous to Rangers)
B. SCR cap at 70%
70
%
×
£
94
𝑚
=
£
65.8
𝑚
70%×£94m=£65.8m
So:
Maximum permitted squad cost ≈ £66m
That is the hard SCR ceiling.
3. What are Rangers’ actual squad costs?
Using accounts + wage commentary:
Player & football wages
Estimated £55–58m
Player amortisation
Estimated £12–15m
Agents / intermediaries
Estimated £2–3m
Total squad cost estimate
Low case:
55
+
12
+
2
=
£
69
𝑚
55+12+2=£69m
High case:
58
+
15
+
3
=
£
76
𝑚
58+15+3=£76m
➡️ Realistic range: £69–74m
4. Resulting SCR range
Best-case
69
÷
94
=
73.4
%
69÷94=73.4%
Likely case
72
÷
94
=
76.6
%
72÷94=76.6%
High-stress case
76
÷
94
=
80.9
%
76÷94=80.9%
5. What this tells us (the key insight)
Rangers are:
At or above the 70% SCR target
Not comfortably compliant
Dependent on monitoring-period flexibility
This explains everything:
Why equity was needed
Why contracts are being trimmed
Why player sales matter even when cash exists
Why wages are the real constraint, not fees
6. Where equity fits (and where it doesn’t)
Equity injection:
✔ covers losses
✔ provides cash
✔ avoids breach of acceptable deviation
Equity injection:
❌ does not change £94m
❌ does not move the 70% line
❌ does not create SCR headroom
So even with £30m in the bank:
Rangers’ SCR headroom is effectively zero without cost reduction or revenue growth.
7. What creates actual SCR headroom?
Only three things:
Increase revenue
Champions League group stage
Commercial uplift
Reduce squad costs
Wage off-loading
Contract expiry
Lower amortisation via sales
Net player trading profit
This does increase the denominator
Equity does none of these directly.
8. The one-line conclusion you can reuse
On the latest figures, Rangers’ squad costs sit around 74–78% of football earnings — meaning equity keeps them solvent, but SCR keeps them constrained.
==============
This is how FSR constrains Rangers just as it does Celtic .
That does not mean they will not comply, it means, as it does for Celtic that they both must take steps to enable compliance.
In the absence of having players to sell at a profit (which counts as football earnings) the only other measure is to trade players with high earnings for players on lower earning which is what Celtic do.
The difference is Celtic do not have to sell best players at risk to competitiveness because of the cash in hand, whilst Rangers do.
If they do sell it helps if the players like Kyogo are no longer as valuable to squad performance as they were.
This is where the idea FSR is bullshit or a red herring, it is anything but and plays a part in how all clubs are subject to it and how they cater for it.
Just because a club has not been pulled up for not breaching SFR does not mean FSR is bullshit, it just means clubs have to cut their cloth in exactly the way UEFA want them too
Maybe MON will come out with one of his reality check throw away lines when asked by the media: “Where are the new signings Martin?”
MON might say – “If you were a football player looking to move to a big club, like Celtic , when you don’t know who will be Celtic’s manager after May? What would you do?”
the Bada Bing on 27th January 2026 10:35 pm
Quad- i don’t think MON is one to meekly accept getting hung out to dry
There’s no point in asking, you’ll get no reply
Oh just remember I don’t decide
I got no reason it’s all too much
You’ll always find us
Out to lunch
Oh we’re so pretty
Oh so pretty
We’re vacant
Oh we’re so pretty
Oh so pretty
A vacant.
Cook/Jones/Lydon/Matlock. 1977.
I can hear you singing that over here BRRB.
The sound reminds me of someone strangling a cat.
There ye are now. Sit doon.
Exactly that!
bigrailroadblues on 27th January 2026 10:49 pm
MON has came back to Celtic with his eyes wide open.
It is disingenuous to think that a wealthy, highly intelligent, knowledgeable and shrewd individual could be duped.
HH.
What kind of sleekit does it take to go onto Paul Cooney’s “Go-Radio-Phone-in-Show” dressed up as, Paul Cooney?
https://cdn1.67hailhail.com/uploads/18/2025/10/IMG_2989-300×169.jpg
dessybhoy on 26th January 2026 9:43 am
Auldheid
The accumulated money is obscene, rainy day? Celtic has a secure season ticket base, look at the last 5 years and tell me that season book income has been volatile? Commercial deals are long term and fixed the club knows what it is getting less bonuses for better sales years, European/Cup ticket sales will be a bit variable depending on who you play or the competition, but this club has saw fit to pay huge sums in Corporation tax rather than spend it on investment in the stadium or meet the needs of the team.Barrowfield and Lennoxtown investment this past season was a panic measure they wouldn’t have got away with 100m in the bank even though it was probably their intention. Selling players is the last act that should be taking place at an ambitious club but not Celtic , as soon as a figure is met players are off and with the inept recruitment strategy we dont get replacements or we get unsuitable players. The support has wakened up to how they run the place and what their goals are, season book sales if this is the same for next season with the same ownership NEDs and Execs will be interesting.
++++++++++++++++++
It all depends on what the accumulated money is for and why it has been accumulated.
Common sense budgeting is if income drops in future then put money aside to handle periods when income will fall.
Celtic’s accounts will show lower income for season 25/26 because of reduction in CL income based on Broadcasting and other income that advertisers pay more for by participation in the CL instead of EL .
There is likely to be a drop in the profit made on players sales because of poor recruitment in replacing players of decent sell on value with those who have not lived up to the promise that saw them recruited in the first place.
Then there is potential drop in merchandising income and possibly ST income if current discontent is not addressed by ST Renewal time,
Those are risks and all combined introduce an element of volatility that requires adjustment to what can be adjusted which in absence of increased earnings ie CL income and profit on player sales, can only be met by lowering wages and so quality of playing squad,
It is just arithmetic.
The cash in the bank helps ride out the effect of the volatile years only the amount held in reserve is questionable.
I saw on X today that the Celtic share price is rising and based on something I was told in September and what has happened since I am veering towards DD will cash in, not that he needs the money but at his age he could do without the current hassle.
Being older than him I can relate to that view as a human being.
When someone is demonised and they think unfairly then they may try to prove the judgers wrong which takes time and energy, but if they conclude that it is mission impossible to change set minds it could become a case of So Long and Thanks for The Fish.
We’ll see.
SFA have sidelined Collum over the Trusty sending off.
It’s a political decision to save Beaton , but a mistake for maxwells & co to put their trust in Beaton , Dickinson and McLean. They can’t hide their prejudice and one of them will try and impact the outcome of a game again for their team.
At the game we now see video that a Hearts player should have been sent off for violent conduct. The referee didn’t see the incident and Beaton kept quiet to keep Hearts with 11. Celtic need to quiz the SFA with a KC in the room why this incident was ignored.
In reality the game should be replayed due to two major failures by Beaton. Celtic should request it and involve UEFA. Ignore the noise from Scotland dying Scottish media where the circulation is 10% of the numbers in its heyday.
Celtic need to demand Beatons removal for the run-in with other examples of him impacting the outcome like Livingston. Dickinson and MCLen also need to be removed due to their catalogue of honest mistakes.
On Dickinson why is he being given the Falkirk game with Andrew Dallas on VAR. Dickinson decisions to help the Ibrox club have been outrageous this season. These decisions will influence CL participation and it must be brought to UEFA’s attention.
It’s very simple when officials are consistently favouring one team they need to be removed like Alan Muir.
The SFA are making a huge mistake as every club in the land knows what is going on as well as a complicit media. The next mistake Celtic and other clubs should be calling for maxwells removal.
THe SFA is fully compromised and Maxwell is ultimately accountable for what is going on. Fergus wouldn’t have hesitated and would have went after him with facts and evidence.
Celtic need to go on the attack as it is serious implications for the business.
It’s not personal — strictly business.
The SFA with this decision are now fully exposed— time to turn up the heat.
After Vidar Riseth he is the worst player I have seen in a Celtic top……..
By the way ,its time someone in this club got a back bone and defended our corner . Letting wee wet wipes like Mciness run over us does not sit well with me .Think Scott Brown and the spirit we are missing…….. We fight on……..
Celtic40me @ 6:57pm
Cheers.
I hear you.
The protest outside Celtic Park after we had the bare faced cheek to lose a cup tie was awful.
Much pent up frustration methinks but still poor.
I assume the catalyst was, for some, a scenario they hadn’t encountered for ages or had forgotten.
Celtic being not very good.
“John Beaton LOVES Rangers”
(His words)
the Bada Bing on 27th January 2026 10:35 pm
Quad- i don’t think MON is one to meekly accept getting hung out to dry
——–
True. As a canny strategist, I trust he finds a way to force the Boards hands AND keep us performing on the pitch. HH
GP- don’t you think MON would have expected more in before now?
Re Beaton …
Get a video and still photo compilation pulled together.
Shouldn’t be difficult.
4 red card offences missed in same game against R2ngers at Ibrox.
Various assaults at Tynecastle going back many years .. including Naismith’s stamp on Scott Brown … which he was looking straight at and ignored.
His ridiculous VAR intervention on Yang.
His snarling, raging red card against Boyata.
Throw in his school yearbook between every clip or still.
Then put it on YouTube and get every single Celtic media outlet to watch, push and share … so it gets viewed a million times.
Have the same outlets report the count of views online each week – get the seven biggest to each pick a day so to avoid any single outlet going stale or repetitive.
Any time an online thread opens up on ANY aspect of Scottish, English, or European football, post the link to the compilation
When linking or reporting or commenting always do so under the EXACT same banner headline every time.
John Beaton LOVES Rangers (his own words)
Auldheid, thanks very much for your input..much appreciated
I’ve came to the conclusion though that the huns might take a fine for breach of said rules
They must have about 40 players !!!
B2B
Played 👏👏👏
Champions League revenue was forfeited due to a policy of excessive financial conservatism, which ultimately leads to competitive stagnation.
“Every penny we get will be invested in the football club and the football team.”
– El Pistolero de los Cuentos
Annual General Meeting on November 29, 2018
Most managers don’t last more than 1-2yrs anyway. Players sign for clubs and understand a 5 year contract would likely mean as many managers. Not much of a blocker for signing players.
It’s not Celtic , it’s the wages – for key positions ( Center back, midfield created and striker ) we should stretch the budget for wages.
That mean we need a slightly bigger biscuit tin. Huns speculate to accumulate (usually too much ) we should do more of that
St Stivs.
Thanks St.Stivs,glad it triggered a bit of history
Yir missing out(me tae) some fine men there.
Pats book on Celtic,Glory and the dream,if you have it,quite early on bout pages 8-13 there is the cracking story of Ned McGinn after Celtic won the cup for first time.
Hail Hail
Maybe its MON’s turn to do the duping?
How will we ever know in a club full of Liars, Masons, Tories, and a supporter base who don’t know how to ask, never mind answer a question?
And accept that NON scripted questions will not be allowed at the AGM?
NDA’s are used to whitewash and cut the balls off of every issue.
Do you think wise MON isn’t aware that the supporter base are as meek as lambs?
If the supporter base is emotionally weak then the entire club is weak.
Maybe MON was the worst thing that happened by coming back?
Maybe we should have just taken our medicine rather than shadow boxing against it?
Greenpinata on 27th January 2026 10:59 pm
MON has came back to Celtic with his eyes wide open.
It is disingenuous to think that a wealthy, highly intelligent, knowledgeable and shrewd individual could be duped.
Good morning CQN
Another fine day to be a Celt
No other fans we’d rather be.
Hope all Celtic minded everywhere have themselves a good ‘un
https://x.com/i/status/2016366511846310083
Just caught a look at the Champions League table before last round of fixtures tonight.
In the 32 team league, English clubs occupy positions 1, 3, 5, 8, 9 and 12.
Money.
Auldheid – thanks for the arithmetic.
If you think DD may be preparing to sell up, what are the most likely scenarios? A sports investment group like in Govan? A wealthy individual looking for a new toy? A group of Celtic-minded people with a vision befitting the Club and football in the 21st Century?
I would happily write off this season if I thought we were about to be radically overhauled by people who have the drive and the means to exploit our potential to the fullest.
GREENPINATA on 27TH JANUARY 2026 10:59 PM
MON has came back to Celtic with his eyes wide open.
It is disingenuous to think that a wealthy, highly intelligent, knowledgeable and shrewd individual could be duped.
HH.
—-
Do you think intelligent people can not be lied to ?
It’s amazing while Sevco has SFA, referees and media in their corner we dismantle the unity the club needs at the crucial run in.
Nicholson has banned the fans with no discussion entertained even after MON called for a truce.
Furthermore, he has banned fans media including the hardline ghirls from the women’s team. This draconian censorship is from a bygone era of Soviet Russia.
Actually North Korea is run better than Celtic and its leader Kim Jong Un speaks to the local and international media – even the tough topics as reported earlier today.
MON has let his frustrations known through the usual channels and Nicholson shrugs his shoulders. What do expect…
Nicholson is so scared of Celtic fans that I can see him banning all fans if we drop more points.
If it helps I can arrange a visa for DPRK and maybe he can have a role in the DPR Korea league where there is no scrutiny and the crowd are happy clappers.
Unbelievable this imposter is still at the club.
Lucky Cody – you are absolutely correct. Only a fool could possibly believe he is the right person for the job. DD is not a fool yet he approved his appointment to CEO and doesn’t replace him despite a tsunami of evidence of his incompetence.
Why? I am not sure there is a simple answer. It makes no sense whichever way you look at it.
The returnof weeron on 27th January 2026 1:21 pm
Folks,
Does anyone know how much of our cash reserves is usable (in FSR) in this window?
And on what date does it cease to be spendable?
=/==
I will try and give an answer with more detail later but in summary cash in the bank is more of an insurance to help recovery when Celtic’s income falls as it will this season.
In current season with very high income there is no question of FSR being breached.
Lots of headroom before that happrns.
Selling players helps football earnings if at a profit as does loaning them out to take them off the wage bill but that does not reflect in current accs but will in the 2027 licensing round.
This an important point. FSR stops applying for 24/25 season on which latest accs are based when the next licensing cycle AFTER the current one using 24/25 accs is completed around mid April 26.
The accs for season 2025/2026 will be used in the 2027 season licencing round this time next year when a new FSR squad cost ceiling will be set.
That does not mean Celtic will be in breach because in the forecasting of future income and outgoings, Celtic can take steps if necessary to avoid breach, like selling players that can make a profit and replace them with players on a lower wage. Sound familiar?
The benefit to Celtic of FSR is all clubs with UEFA ambition have to do the same which in theory should reduce wage inflation and bring decent players on too high wages being released by clubs,who will find they no longer command the high wages they once did.
I hope that provides answers for now but I will come later with examples of how FSR applies to Celtic in different scenarios.
My intent as it has always been on FSR is to inform not scare.
FSR impacts on Celtic’s spend and player trading policies which the current Board and any future Board will be constrained by.
Finally FSR is not like one bad season and a club is out. The idea is to make clubs with spending that is not sustainable to act sustainably over three years.
Any news?
Naw, didn’t think so.
Oot.
Back to read about how well the lights will work tomorrow night, thanks to Pistol Pete.
Guys,
Thanks for the replies.
MON is no naive youngster just in the door who can be easily manipulated, conned or exploited .
He answered the call when BR et al were mutualed , sacked or whatever.
After the fiasco of WN he came back to steady the ship fully knowledgeable of the internal situation and structure at our club.
Given the stature of the man it is inconceivable that he would or could be effectively lied to.
Given the intellect of the man it is inconceivable that the wool would be pulled over his eyes.
As for Michael Nickleson I stand by my assertion that his extremely impressive academic CV aligned with his practical knowledge of the legal, taxation, commercial and financial fields surrounding football made him the ideal candidate for our CEO.
A lifelong Celtic supporter with extensive corporate experience in both the UK and the US is a very rare commodity.
Frankly he was groomed for the job from when he was made interim CEO.
In practice it has not worked out regarding the team on the park.
We move on, perhaps changing the portfolio and parameters for the next candidates.
HH. The journey continues.
O’Neill said: “This will be difficult. We have to try and win that game because our only guarantee of getting through is to win, and that, of course, means more games for us, like everything else.
“At this stage I’m not really wanting to prioritise anything. Let us go as strongly as we possibly can, let’s see if we can get a little bit of help in between now and transfer deadline day, and then take it on from there.
“I think I could get numbers in, but numbers are one thing in trying to get a bit of quality at the same time.
“For us now, we will need to get a few more in, because I think they just bolster the squad for what will be a really tough couple of months ahead.”
It’s a sad state of affairs we find ourselves in, hobbling ourselves in order for others to stay afloat.
Nice to see some positive news about Celtic in the media – not in the Scottish media obviously.
https://www.theguardian.com/football/2026/jan/28/celtic-fc-foundation-london-girls-football
Ave Ave
new article posted.