Desmond rules out spending spree to rebuild battered Celtic

CELTIC’S majority shareholder Dermot Desmond yesterday all-but ruled out the possibility of Martin O’Neill rebuilding his demoralised squad with major signings this summer.

Despite making more than £10million from their epic journey to the UEFA Cup final last season, the Desmond insisted that they will still need to be "prudent" in the transfer market.

O'Neill believes that he needs to bring in a number of quality players after ending the season trophyless and with many of his current squad in the twilight of their careers.