Dermot Desmond

here here

 

It was a figure off the top of my head ,and it was meant as if it was coming out of dd own pocket ,lets say 15 million then out his own pocket = 15million pounds of debt .thats what the others are going on about ,why should he suga daddy celtic ,he is a shareholder with a lot of money .

 

& eloquantly put mate, I just thought it was funny is all (& correct).

End of the day, he's a billionaire & he's never going to spend money that he won't make more money from.

He's probably the biggest * licker, trying to get us into the English leagues.

That may be behind the scenes, but I bet it's true & it'll be so that he can make more money.

EDIT:

From his share holding, if Celtic get into the English leagues our stock will go ballistic.

 

Look, there has to be a middle ground here in my opinion. It's only my opinion but this is how I see it......

The people who are looking for Celtic to spend £20million + on players are seriously kidding themselves on and are only going to drive themselves round the twist waiting for it to happen. It WON'T happen.

But I also think the Celtic board have now brow beaten some of our fans with talk of reducing debt and healthy balance sheets. To such an extent that they will pretty much accept any level of spending no matter how small in case spending money ruins the club.

In my opinion both of these examples are extremes. All I am saying is that instead of spending £5million on players this summer I'm sure we could stretch it to £10million. And instead of buying 7 squad players with that £10million(as we seem to have developed a habit of doing) we should sign 2 players at £4-5million each. Players in that price range(generally speaking) will be of a quality that will really improve our team.(Assuming our new manager is capable of spotting a good player! But you have to trust that he can or else why hire him?) Put it another way, failure to buy players of the right quality has seen our team go stale and season ticket sales for next season are in danger of plummeting. It might be MORE of a risk to NOT invest in the team this summer. That is a thought our board should give some very serious consideration to.

I do not believe that should be beyond us. And I'm certainly not willing to lie down and accept that from now on any player over £2million is out of our reach. That would depress the * out of me if I accepted that.

 

it depressed the * out of me in january [fletcher anyone?}

 

I think he has probably grasped the " get your * hand in your pocket" more times than you haved talked pish

 

This isn't meant sarcasticly, or having a go or anything, but what does Desmond do? Whats the point in his shares?

 

Id like to see them get the best manager they can who ever they think that is and back them with wwhatever they can and give him a good start and at least the tools to get the league back

 

Well said mate. That's as much as we can reasonably ask for.

 

desmond helped build the training facilitys am led to beleive he has a fortune estimated to be about 800 million so he aint got the money like man city were a million is like a penny any way im proud that the club buys targets with the money we have generated proves that the club works as a buisness and i think thats what desmond wants aswell for the club to hold its self up on its own two legs he has a lot more buisness intrests too you know

 

We need to be self sufficient and I think he has the best interests of the club at heart. Since he took control the club has been in a good state, ok we are not buying big players but that's because we can't compete with the EPL transfers and wages.

He built Lennoxtown so that we can create our own players and eventually they will start to come through, but untill we move down south or take part in a European League of some sort then we will always be poor in terms of chasing the best players.

 

In fairness to DD:

1) He has made it crystal clear from the outset, and repeated it several times since, that he is never going to be a sugardaddy, pumping money in as a hobby for no return. He has always been clear that he wanted the club to stand on its own two feet financially, in a long-term sustainable way.
2) The wisdom of this strategy is completely * patent now, what with the catastrophic state of global finance. There's a lot of billionnaires hurting bad right now.
3) Anyone who reckons he is only in it for the money, and doesn't really care about the club, is way off the mark: he is a proper, honest-to-goodness Celtic supporter like the rest of us. When him & Magnier & JP Mac decided to get into football, they did it full on, but the other two soon lost interest in Man U when Glazer waved some cash at them. DD is in for the long haul.
4) He has already given us two of the most successful managers in the club's history - both Martin and Gordon have their records there in black and white to show what excellent appointments they were.

I totally disagreed with his appointment of John Reid, and I think it's pretty clear there was a lot more behind that than just Celtic's best interest.

But I am more than willing to cut the guy some slack in terms of his financial management: he has done great by us so far.

 

top post i have been uncomfortable about reid since his appointment
and i agree dd is in it for the long haul[lets be honest he wont make much
profit out of the deal but he hangs on in there hail hail.

 

This is probably just * talk from me but as some1 said that if we were to join the epl are stocks would sky rocket and from what im led to believe DD is a big campaigner about that situation. So he would stand to make a very very healthy profit if said situation was to happen and he was to jump ship. So in a business sense it would be wise for him to keep his purse closed.

 

There's a lot of billionnaires hurting bad right now.

my * heart bleeds for them. i wish i had their problems. try struggling to feed 2 kids , a wife , pay a mortgage ,council tax and all the rest on a factory wage. then you know what hurting is . and i still pay for my season ticket and champions league tickets etc.

 

We shouldn't need hand-outs from Desmond, or anyone else. We need the sort of investment & ambition that would enable us to realise our full potential.

Celtic were the 17th wealthiest club in the world, last year (07-08). A club that can pull in an average home attendance of 50-60 thousand in The SPL & has a world-wide support to rival that of Man Utd. There is a lot of unrealised potential in the club. Even the PLC, who's prime duty is to the share-holders, (rather than the support). Should realise that under-investment is detrimental to the future prosperity of the club. Financial success & success on the field are inextricably linked.
I'm not advocating spending money like an unemployed lottery winner. But, even an investment of 4 or 5 £million in January would have almost certainly ensured European quallification & generated a 100%-150% return of 10 to 15 £million. By not doing so they are failing in their duty!

Every time I hear the proclamation of "debt free" I can't help thinking that this Board are content just to not make a loss, cover their own arses & remain in their very comfortable & lucretive positions. Their ambition extends no further than maintaining parity with Rangers & using the "Old Firm rivalry" to ensure season book sales.

 

I thought shares paid for Lennoxtown? Also, why can't he pay for big players? I put money into the club (season ticket, shirts etc.) and if I was rich, i'd love to buy a player for Celtic. All this stuff about being a sugardaddy is crap. Billionaires might have been affected by the recession, but so will a lot of season ticket holders who won't be renewing. According to a lot of you, season ticket sales help us be self sufficent, well what if there not sold? He made something like a £800m profit selling London City airport ffs

 

Just because your a rich celtic fan doesnt mean you should bankroll the club. Maybe you would, but many wouldnt. I'm sure he bought all the shares that paid for lennoxtown.

 

The shares did pay for Lennoxtown and seen as Desmond is the major shareholder it was his investment that paid for it (together with all other shareholders)

He can't pay for the players himself for two reasons:
1. We are a plc and are guided by the listing rules of the London Stock Exchange
2. He has clearly stated he wants the club to be completely self sufficient (as do I) if for whatever reason he decides to sell up it will have no major impact on how Celtic is operated, if on the other hand he was paying for players with his money where would that leave the club if he were to leave.

Getting a rich major shareholder to pay for signings out their own pocket is short-sighted and not sustainable in the long term, operating the way we do ensures our long term financial viability (although I do think we should be operating with slightly more debt as we would still be able to finance that increased debt while remaining financially secure)