Finance guru: Celtic set for cash hit after £5m Rangers news – ‘this is just the beginning’
The Rangers decision to pull out of the Sydney Super Cup will have “significant financial implications” for Celtic.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the controversial friendly tournament in Australia.
The two Glasgow sides were set to meet for the first time outside of Scotland in the exhibition clash down under in November.
But the event sparked protests from both sets of fans who felt that it violated the integrity of the historic derby.
The Daily Record reported last Friday (1 April) that Rangers could now be hit with a £5million legal bill after they pulled the plug on the fixture.
And Plumley explains that their decision will have a knock-on effect on their fierce rivals Celtic.
“It is a blow for both clubs,” he told Football Insider‘s Adam Williams.
“For Celtic, they can still go and there will still be some commercial benefit for that.
“But the commercial opportunity would have been far greater had both clubs gone.
“The Sydney Super Cup was looking to capitalise on the Old Firm rivalry and the association between Celtic and Rangers.
“There is going to be significant financial implications for Celtic in that the exposure they will receive is going to be impacted by Rangers not being there.
“They have still got a lot of fans in Australia, there’s no doubt about that.
“But teams need to put on a show, and that show would have been better with both teams there. You suspect this is just the beginning of the fallout.“
Celtic beat Rangers 2-1 last Sunday (3 April) to extend their lead at the top of the Scottish Premiership to six points.
Rangers lost £23.5m for the 2020-21 financial year, while Celtic lost £11.5m.
In other news, Celtic open talks with Gavin Strachan over new contract.