A Dermot Desmond interview! Remember him? It’s been a while since we’ve seen or heard from our major shareholder, so I am pleased STV got hold of him. His absence for so many years is not in itself an offence, but there has been no evidence he remains engaged with the club, and that’s not healthy.
His comments on Ronny Deila I agree with. Ronny is here because we think he can improve players and therefore improve the team. The evidence cited by Dermot Desmond (Nir Bitton, Tom Rogic), suggests he’s able to do this. There have been downsides of course. Ronny’s twice fallen in the Champions League to lesser-resourced (although decent) teams.
If we’re going to build a team we need to be patient enough to let the guy get on with the job.
The comments about a British league within 10 years are worth examining at a later date, but for brevity: this is no more than blue-sky thinking.
I agree in principle that technological changes are underway which will undermine the BSkyB business model. This model relies on the pull of English Premier League football to deliver high-value subscription rates from a huge portion of the UK population.
We talked in the summer about the switch to what the Americans call ‘cutting the cord’; moving away from expensive subscription TV to watching feeds streamed from foreign broadcasters, effectively free of charge. This is happening and its impact will only increase.
I know lots of CQNers are already consuming their English football in this manner, it works and it’s practically undetectable (i.e. it really is undetectable). But it’s not easy yet. You need to know what you are doing, and you need decent broadband. Products are improving all the time, as is broadband provision. Soon paying £100 per month for TV, as many do, will be a goodwill option.
Should there be even a modest shift in BSkyB’s ability to generate huge revenue from EPL football, the fallout in the English football bubble (it is a bubble) will be swift and structurally damaging.
Getting to the point. English football has a business model with risks which could bring it down. Technological changes are underway which undermine this model. Lots will happen in the next 10 years.
Let me share one of my favourite graphs………..
Kodak had a great marketing slogan, they called a great image a ‘Kodak moment’, when people would turn to their cameras to capture the memory on Kodak paper. The phrase was turned on its head in recent years when the realisation that Kodak’s entire business model was about to be destroyed by digital cameras.
The moment of realisation became the ultimate ‘Kodak moment’, it now meant a moment when you realise technology is about to wipe you out. Those who were saying this about Kodak 20 years ago were mocked. Some of us already think we’ve seen English football’s Kodak moment.
This is Kodak’s market capitalisation between 1989 and 2012, where was your Kodak moment?
Magners have kindly offered some CQNers access to the Fanzone at their Wellpark Brewery, just a few minutes walk from the stadium, on Thursday afternoon, from 4pm until 7pm.
Here’s the deal, email me at celticquicknews@gmail.com and you’ll go in the draw for a ticket. Give a £1 (or more) to one of the Great Scottish Runners below, in aid of your Foundation, and you will feel a lot better about enjoying the pleasures of Magners’ Fanzone. Put Magners in the subject line, to make sure your entry gets to the right place.
There will be not be many entries, so if you can make it, get busy…
Click here for my linked donation page.
Here for Kenny O’Neill’s.
Thanks to all who’ve contributed already, you’re absolutely brilliant!
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Cowiebhoy on 30th September 2015 9:47 pm
He did get special dispensation.
Cowiebhoy,
When did DD underwrite any share issue ?
The club’s run very well ( you might not like the way it is but it is) –
————–
IS IT REALLY ?
or is it just on a “sustainable” business plan.
no growth, just kepp on surviving , modestly.
Weeminger,
When Fergus went public with his shares which was oversubscribed, he renaged on the fan ownership promise and sold DD more than originally agreed at the expense of the fans shares.
Canamalar
Corkcelt believes DD could make more money elsewhere; you believe he couldn`t. How does that make Corkcelt naive? Particularly when a primary condition of your argument involves Celtic`s inclusion in the EPL!
JJ
DD gave the media a lot of time today at what is a hugely international gathering of big hitters. The interviewer was very persistent in his questioning. I was stood close by.
My only guess is that he felt he was speaking to a wider audience than our wee 5 million via its pathetic wee bigoted media and was “selling” the potential of the combined future brand to that much wider audience.
None of this will necessarily justify the apparent betrayal of the position of the normal celtic supporters who never want Sevco to darken our doorstep but it might explain it a bit.
Will Ronny go with Tierney, Blackett or A.N.Other tomorrow night?
CANALAMAR
nothing about taking celtic to the EPL could make DD as much as London city airport.
he bought it for £23.6m
he sold for £750m
its now valued at £2,000 m, or 2 billions to me and craigy whyte
TET
It could be construed that his statement is telling you exactly ‘what he’s doing about it’
He’s giving out another Celtic and Rangers speech, whilst interrupting his game of golf.
This is just to cheer up anyone who feels that the Gods are agin them.
I am in Turkey on 1st October
I am in Glasgow on 10th December.
Small consolation is that I will be watching the first game with a Fenerbahce bread shop guy and a Galatasaray publican which means that the Fener guy is outnumbered.
Listen up..
Ask DD..Do you want the huns back in the Top league..
His answer would be YES..Ask Why.
.His answer..Good for Competition..Good Finiancially…..GUYS it Really is That Simple…Thats what DD thinks…Is He wrong?
Wondering how Paul 67 will put a positive spin on DD in his next article,,,,,I mean he surely can’t ignore what this billionaire Celtic fan has said?????
HH
BURNLEY78 on 30TH SEPTEMBER 2015 9:53 PM
I’m sorry but for me personally, nothing, absolutely nothing, can explain DD’s comments today.
JJ,
If you read my reply properly I outlined how he has already made plenty and probably more than he’d make elsewhere for the same investment.
The EPL is the main reason he invested it’s called speculation, you know for the future, something he refuses the club to do to improve the team on the park
i’vehadtochangemyname on 30th September 2015 9:49 pm
That fits with us changing to a ‘feeder club’ over the last few years. It’s a tiny league.
——————
The size of your stadium or fan base has zero baring on if you’re a big club or not these days, it’s all about how much money TV gives you.
Canamalar, I can assure you I am not at all naive.
Re Desmond making more from Celtic then the Airport, he bought the Airport for about 23 million and sold it for 750 million. Re When did he underwrite any Celtic Fund Raising. In 1994 he invested 4 million and underwrote a further 4 million. In 2005 when Celtic were seeking to raise 15 million, he underwrote 10 million of this.
Canamalar
From memory, there was a small fundraising issue a few years ago from Shareholders, I think it was for around £5m ( from memory) can’t remember why needed though
Dermot underwrote £4m with shareholders taking up the other £1m, at this stage he got dispensation from launching a full takeover
Had forgotten about this myself, but looked up shareholding, and he does hold just over 35%
Hail Hail
Canamalar
Was it not be second issue when DD underwrote and bought a decent share ( to pay for Raphael and other Alan McDonald excesses) and the the third issue was when he was funding the MON largesse when they decided enough was enough in terms of cash haemorrhaging ?
If anybody thinks it will be full steam ahead on the bigot card/old firm poison next season.
They better think again.
The thousands of Celtic fans who will refuse to sanction such bigotry, will be saying that we should not, under any circumstances be associated in any way whatsoever with the cheats and bigots of ipox.
I have nothing but contempt for those who wish to romanticise bigotry.
How many Celtic fans will be hurt by these morons next season?
It’s despicable to promote sectarianism for money, an absolute disgrace.
The Celtic board should be ashamed of themselves for refusing to confront the corruption and bigotry.
For DD to lie to back them up….is an insult to Celtic supporters.
HH
BGX on 30th September 2015 9:57 pm
Listen up..
Ask DD..Do you want the huns back in the Top league..
His answer would be YES..Ask Why.
.His answer..Good for Competition..Good Finiancially…..GUYS it Really is That Simple…Thats what DD thinks…Is He wrong?
————
Exactly, there’s been poster on here that have said they want to play the huns.
CQN really isn’t an indicator of what the Celtic support think
BURNLEY78 on 30TH SEPTEMBER 2015 9:53 PM
DD gave the media a lot of time today at what is a hugely international gathering of big hitters. The interviewer was very persistent in his questioning. I was stood close by.
—————————–
chewin the fat,
hands under chin
wiggle ……….
ooooooooooo,
-)))))
Dunno Saint stivs
It’s definitely sustainable but where is it going ? Don’t know right now. The Europa league if things go well !
BGX loves the Huns eh.
Go figure.
Bgx,
Think about how it could be good for competition ?
Unless the strategy is to downsize our team to make sure the penny less ibrox club can compete with us, then think how that benefits Celtic and give me a reasonably positive argument
Canamalar on 30th September 2015 9:50 pm
DD underwrote the 2006 issue, but not for the whole amount. As I recall it was a little controversial because although it was oversubscribed he refused to drop his allocation in order that everybody got the same %-age of what they applied for.
It took his stake to over 40% – Herald story
On meeting him at his central Dublin offices overlooking the River Liffey, I found him to be a man of dry wit, good humour and even temper; the only flash of annoyance from him coming at mention of the old chestnut that, despite him having spent millions of pounds underwriting several share issues at Celtic, some of the club’s supporters believe he should donate even more of his fortune freely to the club. I get that all right, about splashing the cash or putting my hand in my pocket or giving more money to the manager,” Desmond said. “For those people, I really have no respect or regard whatsoever. When people say that you can just solve all problems by throwing cash at it, it’s absolutely stupid. It’s an insult to my intelligence. So those people, if they’ve got lots of money and they want to throw cash at it, we’ll take it every time from them “I don’t believe in burning pound notes or euro notes or whatever the currency is. To me, if you start that approach, you’ll go bust pretty quickly. It doesn’t make any sense and what you’re doing is deferring a problem. You’re propping up something that doesn’t have a foundation and it’ll soon collapse.
Weeminger correct. And Celtic delisted to,allow him to hold more. This was about control for him.
If the huns ever get to the point of chasing us for the league, Celtic park will be electric, right or wrong it will..
Thats what DD wants..
Hamilton Tim.
I was not saying justify.
Only trying to guess at an explanation which no one else seems to have been able to find ?
My assumption is he was not directly trying to self harm with his comments.
We see the world through a very narrow lens here. His may be a bit wider and possibly have a limited local perspective.
Like you and most others I find it really really frustrating that he adopted this approach……
There is no way in hell that we will get into the EPL, they have their eyes set on the US. There will be a big mac cup or such to play for with the LA Galaxy’s of this world. Golden balls is supposedly buying a franchise somewhere over there, as is always the case, follow the money…..
If anyones got a polaroid moment wae oor DD…can we use tae get shot of the walloper
HT,
I’d go for Blackett if it were upto me but many posters who watch a lot of games and know a bit would rather it was Tierney.
I haven’t seen anything that’d make me as positive about the young lad as some.
I hope whoever plays gets the appropriate support from guys on and off the park….they are gonna need it.
HH
Burnly78,
Was that the underwriting when he increased is shareholding at an oversubscribed issue, I’m no sure that’s why I asked.
Or was it when the issue to raise money for lennoxtown maybe both no sure
Canamalar
As the Michael Madsen line in Reservoir Dogs goes:
‘Have you quit barking, little dog?’
I very much doubt if anybody has ever left here because of what I posted.
Hopefully, you’ll be the first.
Night,night.
http://www.express.co.uk/sport/football/462432/Dermot-Desmond-I-just-had-to-save-Celtic
Celtic football club would seem an attractive proposition for any prospective buyer. Almost debt-free, profitable, with a massive support, a romantic history and a solid chance of annual Champions League entry, Celtic would seem at least as appealing for businessmen as, say, Manchester City, the latest in a string of several Barclays Premier League clubs to have been taken over.
However, one man holds the key to Celtic’s future. Dermot Desmond, Celtic’s major shareholder, did not rule out the possibility of a takeover at Celtic Park when I interviewed him in depth for Celtic – The Official Biography, a publication that examines the club’s characteristics and story in detail, but he emphasised that he would set down strict conditions of entry for anyone wishing to gain control.
“If somebody came along,” Desmond responded, “and said that they were going to do something absolutely amazing, outstanding for Celtic and that they wanted to buy my shareholding and I felt that they could do a much better job than me or that they would be a better shareholder than me, then Iwould certainly release my shares. But there would have to be evidence that they were going to do that because my interest is in the greater good of Celtic.
“They would have to have the resources to do something absolutely amazing for Celtic. I would impose conditions. As far as I am concerned, talk is cheap and people would have to do something in a tangible way. If they were theoretically going to buy my shareholding they would be buying it on the basis that they did bring major added value and they would have to commit to that.”
Despite having the wealth to own Celtic outright, Desmond has stopped short of taking full control of the club and, although his powerful influence on Celtic is indisputable, there is a fine distinction in his being Celtic’s major and not majority shareholder.
“People have suggested to me that I make a bid for the club and take it private,” he said. “I’m not saying that would never happen but I’m not interested in that because I think Celtic Football Club is a family. It’s not about one family, it’s about the greater diaspora of Celtic supporters and therefore I think it’s better to have a broader level of ownership.
“I think about my investment in Celtic as an emotional investment rather than a pure financial investment. I’m not looking to sell my shares. I’m not looking to generate a return on my shares. My other financial investments give a rate of return over a period of time, whether that’s three, four, five, six, seven or 10 years but I don’t measure the rate of return on Celtic; that’s not on the horizon. In terms of financial logic, it is not met.”
Not defending DD Would like to see him at the upcoming AGM. However we could have a real Celtic man ala Murray, White or King or a chancer like Green.
Not sure who leftback will be tomorrow night we don’t have a tried alternative to Izy. HH
St stivs.
Ha ha.
Wasn’t meant to read like that.
I just happened to be there !