Football finance expert Kieran Maguire has lauded Dermot Desmond’s ownership model at Celtic, saying it has helped them avoid ‘catastrophe’.
The Lowdown: Desmond oversees successful period
Desmond is the majority stakeholder in his boyhood club, and while he hasn’t always kept supporters happy, he has overseen a great era at Parkhead.
Celtic racked up Scottish Premiership titles galore under his ownership, and at the same time, the club has been run in a stable fashion financially.
The Hoops have a combined profit of £35.5million in the last decade, highlighting Desmond’s shrewd business acumen, and it has helped them dominate the Scottish game.
The Latest: Maguire lauds owner
“There are too many clubs that are one ownership decision away from financial catastrophe. But in Celtic’s case, they are sustainable. Their ownership model means the club can stand on its own two feet.
“That means it is in a far better position to deal with shocks, either within the football industry or in terms of the owner’s own personal finances. You can say this is one of the best legacies of the Desmond model.”
The Verdict: Positives outweigh negatives
It is rare that any owner of a football club is universally popular with their fanbase and that is no different with Desmond, with the 71-year-old dividing opinion at times.
That being said, Maguire makes a good point about the shrewd manner in which he has run the Hoops, keeping them financially healthy and not allowing them to get into a mess.
Desmond deserves undoubted credit for that, and the fact that he has supported Celtic since he was a boy arguably helps in his running of the club, with his heart perhaps occasionally overruling his head at times.
In other news, Celtic have suffered a significant injury blow. Read more here.
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