Kieran Maguire salutes Celtic as Dermot Desmond reveals ‘really strong’ spending plan
Dermot Desmond’s judicious approach to spending at Celtic leaves them in a “really strong” financial position.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the 71-year-old Irish billionaire’s ownership model.
Their biggest individual shareholder told Celtic TV last Friday (8 April): “We are going to be prudent, financially prudent, in the way we run the club.”
Celtic posted an £11.5million loss in their last set of accounts for Covid-hit 2020-21, but they have a combined profit of £35.5m over the last decade.
And Maguire claims that Desmond deserves credit for running the club on an even keel.
“Desmond has put no money into the club because he is focused on a sustainable model,” he told Football Insider‘s Adam Williams.
“That means Celtic as a financial institution are in a stronger position to deal with economic shocks as and when they arise.
“They have a highly incentivised wage system so they can deal with not qualifying for the Champions League if that happens in a particular year.
“They broadly try to break even financially and sell one player for a significant fee each year.
“That actually put them in a really strong position when it came to dealing with the pandemic and the loss of matchday income.”
Celtic face Rangers in the Scottish Cup semi-final on Sunday (17 April).
Ange Postecoglou’s side are six points clear at the top of the Scottish Premiership with five games left to play.
In other news, expert shares “brilliant” Kyogo Furuhashi claim pre-Rangers after confirmed Celtic news.