Celtic share price continues to rise in wake of British league speculation
More Celtic financial news, as the club’s share price continues to grow.
The London Stock Exchange posted Celtic shares at 135 GBX, its highest since February 2020. That’s excellent news for shareholders. It’s also a boost for members of the Bhoys’ board who may look to sell their slice of the club in the near future.
The steady rise of the club’s share price could be as a result of speculation over a British League. Following the collapse of Super League plans earlier this week, an inter-UK division has been mooted. With the TV rights and international exposure on offer, investors would be canny to make themselves known in the result of Celtic playing English clubs.
From a marketing perspective, it’d be a no-brainer for Celtic as a PLC. However, we’re cautiously optimistic that the rumours surrounding this idea are nonsense.
The McKay Factor?
Alternatively, the presence of Dominic McKay might be a reason for investor confidence. McKay turned the SRU around, from an ailing organisation to one at the forefront of rugby. Securing lucrative contracts with BT and other sponsors, McKay’s business nous is well-established.
Talking of shares, 67 Hail Hail have announced we’ll be joining a number of Celtic fan-led organisations in a live broadcast. Ourselves and our friends in the Celtic media world will be meeting with the Celtic Trust and Celtic Shared. Both organisations are collaborating on a proposal to receive shares from the club as compensation for lost season ticket value from 20-21.
The Celtic Trust will be joined by @Celtic_Shared to answer your questions on our #sharesforvalue proposal!
The event will be live via YouTube & Facebook with reps from fan orgs and media putting your challenges to the panel. Further detail coming soon.👇🏽 pic.twitter.com/0IqNKA7UB8
— Celtic Trust (@TheCelticTrust) April 23, 2021
Expect Celtic majority shareholder to stand firm with share price boost
A clear winner from this week’s news is Dermot Desmond.
You’d surely expect the man with the most shares in the club to be amused, anyway. And as the share price continues to gain momentum, Desmond will be more determined to hold on to power at the club.
In a now infamous Q&A, Desmond said [Celtic FC]:
“[Selling my shares] is a contemptible suggestion. I am as passionate about Celtic as any other supporter. My shares are not for sale.
“Brian Dempsey, in an article in The Times, is reported to be floating the idea that fans should own the Club and that we have reverted back to where we were in 1994.
“When I think about the strength of this Club today and the playing success that we have enjoyed to date, these are entirely attributable to being financially strong and being professionally managed under stable ownership.”