Earlier this month, I was asked about Celtic’s “rocketing” share price, which hit levels not seen in 24 years. The fundamentals of the club had not changed since qualification for the Champions League was secured, so the only thing I could see driving the rise was supporter sentiment.
THIS IS NOT INVESTMENT ADVICE, but there is a consensus that Celtic will continue to trade successfully. I can think of a whole series of medium term challenges that will negatively impact our profitability, but as you know well, profitability is not why most of us (any of us) become shareholders and, since Celtic became a PLC, profits have never been paid to the shareholders, save for the preference share dividend Fergus established when he made the Initial Public Offering in 1994.
The share price will go up when more people want a piece of the action and will fall when people want to bail out. Football shares often move in tandem, reflecting disposable income levels, economic conditions, or even the stock market bubble what popped in 2000, when Celtic shares last traded at their current level.
If a club’s share price is not moving in tandem with its peers, or any other economic indicator, there will be a reason why. In April, two Newco shareholders offered 13,142 shares with an opening price of 18p – which was a significant discount on where price was a decade ago, with the club struggling through the lower leagues.
This recent share offering has not yet been bought and remains open until the end of the month, but that 18p price now seems ambitious. The current highest bid from one buyer, who is prepared to scoop up 5000 shares, is 4p.
That’s a blow to existing shareholders who might want to cash out at some point, but with the price so low, what level can the club realistically hope to issue new shares at, should they need fresh investment? And boy, do they need fresh investment. At this level, a share issue to support the trading loss would render current influential shareholders impotent. That would be a sore one.
Again, THIS IS NOT INVESTMENT ADVICE, but I expect sentiment and the share price would spring back if Newco qualifies for the Champions League this season, which would turn another year of operational loss into somewhere near breakeven. This, in turn, would postpone the need for fresh investment.
You would be forgiven for thinking this share price looks like the canary in the coalmine. Champions League qualification would let the noxious atmosphere escape for a while, but failure would trap all concerned. It is difficult to overstate how important last season’s title was in Scottish football – way more than 2020-21.
I expect we will return to this topic again soon.
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I see the bhoys were at the White House.
Happy Friday eve all!
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“I expect we will return to this topic again soon.”
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Yeah – never too far away from partner club. Go the old firm!
Test.
just because i was right, how very magnanimous of lord haughey to let them have all hampden at all the cost, ecgept of course he is not the owner.
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SAINT STIVS on 17TH JULY 2024 12:42 PM
now to something different, and in the strange world were people comment online about something that is not factual.
let me start with this
WILLIE HAUGHEY IS NOT THE OWNER OF QUEENS PARK FOOTBALL CLUB (or indeed Celtic Park)
HE DOES NOT OWN ANY SHARES IN THAT COMPANY, HE IS NOT ON THE BOARD, HE HAS NO INVESTMENT IN THAT COMPANY THAT GIVES HIM A RETURN.
Why is he not a shareholder ? well because the company has no share capital.
Queen’s Park Football Club Ltd J B Mcalpine Pavillion, Hampden Park, Glasgow, Scotland, G42 9BA
Company status – Active
Company type
Private company limited by guarantee without share capital
Incorporated on 23 June 1903.
Now what is his emotional investment.
In the past he effectively “gifted” the SFA monies to buy Hampden from Queens Park.
Part of this is QP securing Lesser Hampden, renaming it the CITY STADIUM, and further “gifts” have been made to allow for ground improvements to be made.
During these ground improvements QP had some sort of agreement to relocate to Hampden. That they now give this up to allow “the r2ngers” to play there is neither goodwill or a mere gesture.
I would suggest the arrangement suits them, and comes with a big sigh of relief that some mug comes along to allow them to get out of the arrangments, Because quite simply is is too expensive.
I doubt very much that Willie Haughey was pulling strings, sure he might help facilitate by being a go between/broker (without fees) to get something done, but suggesting as Keech does that this owner did it to help the hun, well he may be a Baron, but not a legitimate owner.
Madmitch used to suggest in some daft way, that Haughey was a rising threat to Celtic, that he “owned” QP as a snub to Celtic, that they were a club with ambition and Owen Coyle would take them to the top.
They are ambitious, they have a clever structure in place, but effectively it is still a members club mostly.
Crowds have gone up, Average from 900 up to 1800 during their own journey. But it is all relative because in the Championship you actually play against teams who bring considerable travelling support.
Anyways, for the hard of thinking.
WILLIE HAUGHEY DOES NOT OWN QUEENS PARK FOOTBALL CLUB.
Keech writes shite.
I don’t think I’ve ever felt embarrassed by a Celtic defeat. We experience them every year- even the Invincibles year. They can only be embarrassing if you have too high an expectation of never experiencing defeat for your team or that the defeats were avoidable if we just spent a little more (let’s face it- that’s a belief that cannot be conclusively proven or disproven but it’s a highly unlikely proposition).
For those who think being gubbed in a pre-season friendly is embarrassing, can you cite an instance of where it did us actual harm? Can you even remember the scores , without googling it, of last year’s Japanese tour. How about the scores from the year before?
Now it can be painful to lose badly to English opposition. The only time my father, older brother and myself were ever in the Main Stand together was to watch this match.
https://www.thecelticwiki.com/1987-08-01-celtic-1-5-arsenal-friendly/
Following this we went on to win the league by 10 points and the old Rangers did not get to be even 2nd- though they had won the league the year before.
It is a shame for our Japanese fans and our U.S. fans to go and witness a mauling by a far superior team assembled much more expensively and subsidised by Sky TV money.
But…… it is not embarrassing.
It is not as painful to see Man City or Chelsea beat us in a pre-season friendly than it is for us to see Real Madrid beat us 5:1 in a meaningful match in the CL, even though we performed at a really high level for two-thirds of that match.
So, if we lose to Man City or Chelsea or even DC United, any pain I feel will be quickly washed away by noting it was just a pre-season friendly and, at least, it was not a “competitive” match.
And, conversely, any joy I experience from an unlikely win over Chelsea or Man City will quickly wash away with the same realisation that – it was only a friendly match and, if it was a competitive fixture in a European trophy event, the result would probably be different.
The only time Celtic players have embarrassed me are when Viduka didn’t come out after half time at the ICT game or when Boerigter, recovering from injury, was seen eating pies in the hospitality suite, or Siegrist tweeting this summer he won’t be back at CP. I was embarrassed for them and their treatment of our club and its fans but I was never embarrassed by Celtic the team.
Now- the Celtic Board in 2012 and subsequently- that’s a different matter.
Good afternoon all from the Prince Charlie. Idah and Bernardo in having a pint before their press conference. Nice lads.
Spilling masteaks currected.
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SAINT STIVS on 18TH JULY 2024 7:59 AM
celtic plc are not going on pre-season to entertain the fans, that notion is kind of quaint.
they are going to get fit and if it makes money while letting fans see the green and white then fine.
expecting to play this way or that with new players or not, i suspect they will lose all 3 games, but am left with so flippin what.
ifor brendan it is in context of getting the team fit
for the plc it is about the dollars.
you can dress it up anyway you want and make the childish remarks, but this is what is reality.
embarrased by it? ni , i couldnt give a monkeys.
i know a japanese team scored 6 goals against us last pre-season.
Nakamura said he had to emigrate and couldnt show face in tokyo again
I was up at Celtic Park this morning, huge amount of stadium work goin on, if I may –
MAIN STAND ROOF –
20 workers on site, all on roof, scaffolding either side of the office block. Could make a guess at works going on but didnt see any replacement materials so I think it is media/cabling or electrical works for the disco light.
But it was a ;ot of activity.
The Huns dont have share certs framed and on their study walls. Why would they have an emotional connection to the shares of the holding company ?
I’m not sure CL qualification would do much for their share price – you would be something of a short sighted investor if you decided to invest off the back of CL qualification while ignoring years of losses.
I don’t think our share price has been as high since the last time BR was our manager.
It’s almost like investors in football clubs want to see great managers running the team.
https://cdn1.67hailhail.com/uploads/18/2024/07/image-6.png
Auntie Mary had a canary
Up the leg of her drawers….
SCULLYBHOY on 18TH JULY 2024 12:59 PM
Jolly decent of Oh to say that. Good Lhad.
She pulled a string , and made it song
And down came Santa claus
Sing no song 🙄
SAINT STIVS on 18TH JULY 2024 12:43 PM
I was up at Celtic Park this morning, huge amount of stadium work goin on, if I may –
LISBON LIONS AND SOUTH EAST CORNER (FUTURE AWAY SECTION)
30+ workers on site, various external construction and landscaping activities. my guess looks 60% completer, stairs unfinished, gambion wall breaks are in place, fences up, lage “forecoutr/parking/access/egress to dalriada street NOT STARTED.
Diggers, loaders, MHE equipement on site, multiple vans on site.
Asked one workie, he believes only lower tier south east corner will be allocated to away fans.
Only telling you this dont tell anyone else but …………. they have a lot of work to get through for that to be ready for flag day.
But it was a ;ot of activity.
large “forecoutr/parking/access/egress to dalriada street TARMAC NOT STARTED. still lifting existing ground materials.
BARROWFIELD
No access from london road or the side road past social club.
i would suggest public wandering in stopped since the drone guy, however, from a distance.
Multiple workers on site maybe 50+, loads of vans and equipement on site,
Only two more sections for roof to go on.
Looks like considerable works on services connection from main road, this is always a key date for new build projects, only so much can be done before these are connected.
And roads access subject to permissions can be a delay.
Last rumour of October seems good to my untrained eye.
In summary huge amount of works going on at both sites. maybe everybody is back from holidays.
Man walks into a bar with his dog. Sits down and has a few tasty adult beverages and the barman starts boasting about his sheep dog at home and how smart it is.
That’s nothing says the man at the bar. See my dog over there? He’s a qualified blacksmith.
Barman says, no he isn’t.
Yes he is he replies.
OK, prove it says the bartender.
The man pulls out his cigarette lighter, holds it up to the dogs testicles then it makes a bolt for the door.
Rabbie Burns walks into a Pub.
The Landlord says ” Your’e Bard”’
Bognorbhoy
Oor Auntie Mary ‘Sat on the gas and burned her arse’ before Santa appeared. 😎
Aw naw their aw at it noo….
BRRB
The Tavern and the ‘Charlie’ are popular watering holes for supporters coming from the East. Did you manage the Black Bull before picking up the missus?
A 12 year old American kid gets taken to his first soccer match between the Scottish and English champions.
Unfortunately due to squad limitations the Scottish champions get pumped 5-0.
The result will have no baring on the season of either team, but which team will the American kid likely support? Which jersey will he ask his mom to buy?
Is that the way to build your brand and expand its reach?
Teuchter Ar La
Pick her up? I was trying to avoid her.
i have two american friends in chicago , they supported liverpool until last season,
now as gorwn ups they choose celtic for mre than football results.
i have another nephew, taken to see celtic from an early age, born into it if you like, wouldnt take a free ticket now and prefers to stay home gaming.
what is your point >
i would suggest also, as premier league and european champions till last seaon that an american kid might know some of the world famous ones from the premier league and nobody from celtic at all.
Ok mate, thanks for that.
Enjoy your afternoon 👍
It’s nice that our club is valued and worth so much more than the huns….if only that difference showed on the park….if only
VINNIETHEDOG on 18TH JULY 2024 2:14 PM
It’s nice that our club is valued and worth so much more than the huns….if only that difference showed on the park….if only
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the thing calling itslef rangers did not beat celtic in 5 attempts last season, indeed actually lost 4.
i personally thought our players showed there was a difference on the park.
Blogger GM
If Celtic won the match against Man City or Chelsea it is possible that the 12 year old would be a celtic fan for a year or two afterwards.
But, if the TV stations in the US that cover football show him local MLS teams and League football from England, Spain, Italy and Germany and the “big” ties in the Champions league, chances are the kid will find a way back to a local MLS side plus a “favourite other” team that features on TV.
As St. Stivs said these games have 3 purposes
1) Getting the players fit before the real games start.
2) Earning some money from tournament organisers while doing so
3) Allowing Celtic fans in USA, Australia and Japan to see Celtic in the flesh for a rare occasion
We talked about growing the brand but all the kids in Asia, Australia and USA are bombarded with Big League football clubs. Most half-informed soccer fans there could tell you a Bournemouth player before naming a Celtic one (apart from CCV). We did not earn many new fans in Japan by touring there; we retained a few because we have National Team players but it does not earn us much money r prestige. We haven’t boosted our profile in Oz or USA by touring but we still have many Celtic daft emigres who keep our torch burning.
Let them enjoy the game and the sights and the companies but Win, Lose or Draw should be an easier attitude to maintain when it comes to “friendly” football.
Vinnie,
You mean it has’nt.Madre Mia where have I been the past 20 years !!!!!!!
my two spanish nephews much to the chagrin of his tenerife supporting father get man city and liverpool tops.
both have been to see celtic and not once have they wanted to go back.
what happened in 2012 that caused this company to start reporting this ?
the previous reports by clydesdale bank and deloitte make interesting reading and hardly ever noted that rangers would go out of business.
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who are the 3 .
inverness and who elses ?
The March 2024 Football Distress Survey, which has been conducted by business recovery specialist Begbies Traynor since 2012, has shown that there were just three
clubs (7%) in Scotland’s four top leagues showing signs of financial distress, down by almost two thirds from a total of eight clubs a year ago.
The peak of Scottish football distress was in October 2020, when a total of 14 clubs showed early signs of financial distress.
Anyone who can’t have a gloat at any Hun bad news,is a ,pain right up the Jacksey.
Personally,Ah canny get enough..