Celtic market value shoots through the roof after on-field success - report
By James Black
Celtic’s on-field success has saw the Parkhead club’s market value rocket by almost £50million after Brendan Rodgers’ side made the Champions League group stages for a second successive season, according to a report.
According to figures from the London Stock Exchange, as quoted by The Scotsman, the Scottish champions are worth a cool £173million – up from £125million – with shares gaining almost 33 per cent of their value after seeing off Astana to make the Champions League.
The Hoops will kick off this season’s Champions League campaign on Tuesday night when free-spending Paris Saint-Germain visit the east end of Glasgow with fans and investors alike hoping for a good run in Europe’s premier club competition.
After winning six successive Scottish titles and completing an entire domestic campaign without losing a game, Celtic’s shareholders will be as happy as the clubs’ fans with their continued success on and off the pitch.
With over £30million at stake for clubs reaching the Champions League group stages, Rodgers’ back-to-back qualification has earned the Hoops a windfall that leaves them in a whole different financial stratosphere as the other clubs in Scotland.
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The club’s ability to identify foreign talent and improve them before selling them to the Premier League – Virgil van Dijk and Victor Wanyama are two of the most recent high-profile examples – has helped the Bhoys solidify their financial status as Scotland’s wealthiest club.
Bitter rivals Rangers’ return to the top-flight will also have boosted Celtic’s coffers with season ticket sales jumping with fans desperate to see their heroes in action after years of poor attendances at Celtic Park.
Celtic’s biggest individual shareholder, Irish billionaire Dermot Desmond, owns 39% of the issued shares in the club.