Michael Nicholson noted that two key concerns had been raised by supporters during the transfer window: timing of transfers and the level of investment relative to cash reserves, and that the Club accepted that its communications on these issues had not been well received.
Michael Nicholson noted that player recruitment is something the Club continually assesses but cannot necessarily share publicly. Michael Nicholson confirmed that the Club had invested in players for the short, medium and long term. Supporters felt short-, medium- and long-term recruitment in theory looked scattergun in practice, citing the 2023 and 2025 summer windows as strong evidence of this.
When asked if the Club has identified what went ‘wrong’ during the summer transfer window, Michael Nicholson confirmed that an internal process of review is ongoing, which will focus on what went right and/or wrong and examine this against relevant factors, including the players’ personal career objectives, the selling/buying clubs aims, agents, taxation (Belgium and Germany tax systems were compared with UK) as examples of the variables at play, amongst others.
Supporters acknowledged these various factors but highlighted their opinion that the Club does not complete its business ‘early’ in the transfer window and is therefore not ready for UEFA qualifying matches and sought a response from the Club as to why transfers are not conducted sooner.
Michael Nicholson sought to reassure attendees that the Club’s objective is to complete its transfer business as soon as possible in the transfer window (with the examples of Kieran Tierney and Benjamin Nygren highlighted), and to attract the best players available to the Club within that window – and that the Club’s model allows for investment to be made when needed.
The Club did not accept that there is a disconnect between the board and the manager or that transfer policy needs a fundamental overhaul. Martin Gilmore asked whether the Club would look at using ex-employees in the way that other clubs do (such as Ajax). Michael Nicholson noted that the Club is open to all suggestions.
Michael Nicholson noted that the Club heard the need for better communications. The point was made that it is not just communications that were the problem but the strategy itself. Michael Nicholson noted the performance in the UCL last season as well as the number of trophies that had been won as evidence of the Club’s performance.
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