67 Hail Hail’s football finance expert Adam Williams has shed some light on what Dermot Desmond’s potential big sale would mean for Celtic.
Reports have stated in the Business Post that Desmond is considering offers from US firms to purchase his £4bn UK nursing empire.
It comes at a time when Celtic supporters have lost faith in the board after accusing the owners of a lack of spending.
A vote of no confidence was issued by several supporters’ clubs, as well as a large protest during the Kilmarnock win.
But, will Desmond’s potential sale have any knock-on effect for the Hoops?
Celtic won’t be affected by Dermot Desmond business decision
As we revealed earlier this week, Celtic’s cash flow is expected to reduce after the failure to qualify for the Champions League.
There is plenty of money in the bank for the Hoops thanks to their self-sufficient model, and that’s how Williams thinks it will remain, even if Desmond lands a huge payday.
He told 67 Hail Hail: “Celtic are entirely self-sufficient and Dermot Desmond hasn’t needed to put any money into the club for some time.
“They make enough cash from commercial activities, match day income and player trading that they don’t require any extra funding from the owner. Even in a fallow year when they don’t make it to Champions League, they have huge cash reserves in the bank that they can fall back on.
“So Desmond’s personal fortune isn’t really going to make a material difference to Celtic themselves. Perhaps if he gets a £4bn windfall he might be more inclined to re-invest some of it at Parkhead, but I doubt that, to be honest.
“It’s hard to gauge what his long-term ambitions are for the club. On the one hand, he has got the balance sheet to such a good place that he could make a fortune if he sold up. But on the other hand, he clearly gets a degree of prestige and status from owning the club that he doesn’t from a healthcare company. And it’s costing him nothing to run Celtic as a club, which is obviously a huge plus.“
Dermot Desmond tipped to speak to fans
Hugh Keevins thinks Desmond could speak to Celtic fans to address the ongoing problems.
It has been three years since the Hoops owner did that, and if truth be told, that’s unlikely to be changed.
Things may change and he may have no option but to speak out. Time will tell and the reaction to his statement – should he put one out – would be very interesting to see.
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