Dermot Desmond is a successful businessman and and a wealthy Billionnaire, so why do Celtic struggle in terms of have to balance the books ?
Okay I don't expect him to match the buying power of Man City or even Chelsea, and to be absolutely honest I wouldn't like that level of madness at our club, however I would like to see investment of £30 Mil or so for three or four real quality players.
We all know that Dermot Desmond rarely does interviews, however his recent interview mentioned that he would like to think that both Celtic and Rangers will eventually enter the EPL, perhaps if Celtic performed better in Europe it might help sway opinion down south.
So far Mr Desmond has sat back and reaped the annual share dividends from the club for several years, is it therefore not time that he puts some serious money back into the club. I think that most supporters would agree that nobody puts money into a football club to make money, it's a love of the club, it's to have a feeling that your part of this great club.
If we are to move forward again we need three or four players of real quality like the Larsson's, Sutton's, Hartson's, etc, so I hope Mr Desmond finally gets the message, spend some of that massive Billion pounds, or perhaps consider selling up.
Discuss Dermot Desmond in the Celtic Chat area at TalkCeltic.net.
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CELTBOY
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good point...but throwing money at a club doenst always mean guaranteed success..also..we are a business,,and as such have to generate our own wealth..strive forward with different ways to do the same..if any business was not balancing the books, and you just fired ££ at it..all the time...it would go down.
but i would still love him to fire ££ at it:):50: -
Don't think he takes his dividend.
He has underwritten the debt for lennoxtown.
He could feel part of the club by buying a season ticket
& the new kit from the superstore.
It is better that the club stays financially prudent.That way if
he walked away we wouldn't be in the *.
& the transfer window is shut,lets see how this group of
players perform.
Like has been said before larsson wasn't a mega buy in terms
of transfer fee.maybe we will unearth another bargain/star among
our recent signings or youth players:50:
After saying my sensible piece^^^^^ there
I would cream myself if he threw a wedge of cash at us:icon_mrgreen:Last edited by a moderator: Sep 9, 2010 -
I think Mr D gets it in the neck on a pretty regular basis...unjustly in my opinion.
It's crucial that Celtic live within a managable budget that won't put us into a situation that other clubs are finding themselves in....Spending big don't guarantee that Celtic will win anything, it could turn out that we are throwing good money after bad,that would just get us in a lot of soapy bubble!
Sure we would all love Dermott to pump in some serious money but we need to look at the whole picture...big name players cost big fees/wages etc...running a club is a balancing act.
I have a feeling that when the new financial rules kick in, Celtic will be in a far better position than many clubs and maybe then all the hard work that gets done behind the scenes will reap rewards as clubs get back to something resembeling a level playing field. -
Exactly, plus his investment has cost him over £80million over the years I believe, that's a substantial investment by anyones standards.
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The guy is just a shrewd businessman !
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he treats celtic like a toy thinks more of his diamond crusted moustache.if you had that kind of money would you not throw some of it celtics way of course you would
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Maybe the money minded people on here would be able to make this clearer ,Because Celtic are a company with Dermot being the major shareholder if i think he decided to bang more money in it would be deemed to be like a buy-out altogether ,,,something along those lines ,,maybe someone can clear this up.
He has put a lot of money in 75-80 million i read but i do know that he just cant say ,Here is 30 mllion to play with , because of all the other shareholders and being a company. -
I'm not 'money minded' at all.....BUT I do know if Dermot Desmond wanted to put 30 million quid into the club to buy players then him being a savvy business man would know a million and one ways around any obstacles that may or may not be preventing him.....Off the top of my head and not being money minded i would say one way is to have one of his companies become a club sponser to the tune of 30 million....I cannot see any shareholder arguing against that. For the record, I think Dermot has been good for the club.
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seanolamisio
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we dont want to be like the huns anyway,sucking david murrays * dry then crying like spoilt weans when theres no more milk,but there has to be ways of generating revenue to guarantee cash goes straight into the managers coffers so we can get a few quality signings a season
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If DD was to invest anymore then he would be forced to make a compulsory offer for all of the shares in the club. This is to protect minority interests, if the major shareholder takes their holding to the 30% mark (related parties come in to play as well so other companies he owns making an investment would be classed as a related party) then it is considered that they could undermine the interest of minority shareholders and therefore are forced to make an offer (at the same price of the last shares bought) for all remaining shares in the company.
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Have to say i do agree with some of the people on here who say that Dermot Desmond is a shrewd businessman, it is very true ,although he has over £75 to £80 million worth of shares at Celtic, he has offered very little in return to supporters and to the club itself, he is a wealthy billionaire, has over £2 billion because of the amount of business's he has invested in, he has enough money to buy world class players like Messi, Rooney, Torres,Schweinsteiger and Robbie Keane and pay their wages or go out and buy some other great players who play in the EPL. the way he see's Celtic is just a business to him , the cheaper players he can bring in and who play utter * football the better , He's got to do something he's never done before, we havent wont a league title in 2 years, although this year we have a good fighting chance to bring the title back to Parkhead , it wouldnt do any harm in bringing in some established players from the EPL maybe some top defenders to line up with big Dan and a striker who will out run the huns and bang in goals for fun. If he doesnt bring in some quality to Celtic, we're lookin at 3 or 4 years without Champions League and European Football, I will say though that the team we have just now is a lot stronger than last season because of the players that Neil Lennon has brought in, Juarez and Kayal have became instant fan fav's since they arrived and are lookin to be huge success's at the club , If we dont win the SPL this season with the team we have then something is wrong, but as i said it wouldnt do any harm to adding some more quality to the defence and attacking side of the team. Although the January Transfer Window is still to come it will be interesting to see if Desmond decides to spend big.
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You are right, if he wanted to put some money in he is clever enough to know loads of ways to do it.
I think Desmond had been OK, I'd be surprised if he had put £80 million into Celtic and got nothing back. What makes up this £80 million?
For me the issue is that the board, and Lawell in particular, give off an air of being delighted by our financial position, whilst ignoring that we have been terrible on the park for the last few seasons.
How much Desmond has to do with this I'm not sure, but I do think it strange that he sees a team in desperate need of some investment, and doesn't provide enough money to buy 2 or 3 players.
And before anyone says there has been investment, there clearly hasn't - our net spend has been negative in transfer windows for a good few years now. -
yes and Desmond doesn't want to take shares away from the fans. People need to get real when they call for Desmond to invest in the side. The man has put millions into Celtic Football Club, building up the infrastructure that we have today. He underwrote £6million for Lennoxtown as well as £6million for the share issue in the late 90's. He refuses to take his annual dividend, a decent sum of money over 10 years. If rumour is to be believed he financed the deals for Keane and Bellamy. Another rumour is that the redevelopment inside the main stand at Parkhead was paid for by Desmond himself. People don't become billionaires by throwing away money, he'd never see that money return. We aren't going to do much in Europe, even if he flung £20 million at it - look at Man City, they'd struggle to win the Europa League. So whats the point in spending £30million to win the SPL?
Get off Desmond's back and support the team. He has invested sufficiently and it is quite ignorant of fans to simply command he puts more money in, especially when they don't know the ins and outs of running a business. -
Thats what i meant earlier in this thread but was really unsure about it ,cheers Danni.
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For all those saying DD has 2bn at his disposal, most of that is in the form of investments, not cash, in the current climate of worldwide recession do you realise how difficult it would be to sell those investments at a profit in order to maintain the cash?
DD has invested over £80million of his own money in Celtic, to me that shows commitment, why should he just give his money to Celtic?
We can not rely on a rich sugar daddy to finance us, we have to be self-suistainable, if he's nocked down by a bus tomorrow and his family decided to withdraw their support where would that leave us? Like Gretna?
Of course fans, myself included, want players here and now that will do the work on the pitch where it matters, however, we also have to ensure our long term vialibility. It's the boards job to balance both, unfortunately the last two years haven't worked out but because of their running of the club we were still able to make wholesale changes to the team. the board have to get it right this year no doubt about it, but to blame it all on DD not putting enough money in is frankly short sighted in the extreme. We are not a bunch of spoiled brats who throw a tantrum when we don't get what we want, we are Celtic supporters who demand that everyone involved in the club gives their best for the club, throwing money at us is not necessarily what's best for us. -
100% agree, great post. I think people seem to think that he has £2billion in cash sitting in an account somewhere, however, its tied up in assets and investments.
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Usually the case with alot of the worlds richest really aint it? it's all just "net" worth rather then actual bank account wealth?.
plus with some of the comments made about having the money to buy top qaulity players, if he were a major shareholder some were else maybe he does but look at it like this your wealthy business who likes making profits over most other things, you got a small passion for one investment (celtic) to which it plays in a really run down messed up market were it hardly respected in any fashion and it's market makes pennies compared to other markets.
does that mean that despite your wealth, your lifestyle and the amazing future of your family your going to go * £50mill+ maybe even £100mill in transfers fee etc... and then know that despite the qaulity of player it would maybe take the rest of your life to make that money back and then start seeing a very very tiny amount in profit amount, which by then it's probably gone to shyte as the investment has had to sell on those players for a huge loss as they can't sustain or even hold onto to such expensive luxuries for any longer then 5 years max without already messing up the stability of your investment. -
What makes up the £80million?
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what makes up the deficit? -
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