The annual KPMG Football Benchmark included Celtic for the first time, this year. The report provides an Enterprise Value for elite clubs, which are otherwise often ranked by simple revenue or coefficient point tables.
While there is often talk of the ‘big five leagues’, 21 of the 32 clubs are from either England (9), Italy (6) or Spain (6). Germany and France have three each, while Turkey (population >80m) lost their third club this year and now have just two. Ajax, Benfica and Celtic are the remaining three.
The inclusion of Benfica and not Porto, tells the story of the formers dominance of Portuguese football in recent seasons, winning five of the last six titles. Ajax runs counter to this argument, having won their first trophy in four years this month, although I hear they have done well in European competition recently also.
There are no clubs from Greece, Switzerland, anywhere in Eastern Europe, Belgium or Scandinavia, all territories we would expect to compete for Champions League spots with.
Being on the list, in itself, is not going to put break on the table, but it has value, nonetheless. Players of exceptional value will continue to leave Celtic for wages well in excess of what they can earn in Scotland until league structures change. But the fees Celtic have been able to command are significantly less than what Ajax or Benfica can get for similar talent.
This is because the grade of our domestic competition inhibits what we can test here. Being the best central defender in Scotland is worth less than being the best central defender in the Netherlands, as talent in the Netherlands is valued higher. This metric is an inhibitor on Celtic.
It was JFK who said, “A rising tide lifts all boats.” If Celtic central defenders are rated higher, this reflects in the value of those who score against them, so everyone in Scotland should benefit from our inclusion. Celtic being dominant is good for all. As a consequence, the Scottish Premiership is a quoted league. I know it’s hard and football does not really work this way, but the rest of them should be happy for us.
I also over promised on this stuff (below) if we won the Treble Treble. Orders have been placed…