Kieran Maguire: Celtic set for financial blow 'through no fault of their own' after £5m news
Celtic will take a financial hit “through no fault of their own” following Rangers’ withdrawal from the Sydney Super Cup.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the controversial exhibition tournament in Australia.
The Hoops were due to play Rangers for the first time outside of Glasgow in the clash in November.
But the Daily Record reported last Friday that Rangers could now be hit with a £5million bill after they dropped out of the tournament.
It is unclear whether Celtic will still play in the tournament or whether their participation fee will be affected by Rangers’ decision.
But Maguire claims that the precedent the Ibrox club have set will have a negative impact on both clubs’ bottom lines.
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“It will be financially detrimental to both clubs if they are not going to work on issues like this going forward,” he told Football Insider‘s Adam Williams.
“At the same time, the clubs are answerable to the fans as well as to the bottom line of their income statement.
“It is a very fierce rivalry, as we know. But any form of collaboration is going to be imbued with suspicion from the fanbase.
“So, through no fault of their own, this will have a negative financial impact. But in terms of relations with the fans, the fans won’t mind.”
Celtic, who smashed St Johnston 7-0 yesterday (9 April). are nine points clear of Rangers in the Scottish Premiership.
Rangers will reduce that lead to six if they win against St Mirren today.