At the time of writing the Celtic ordinary share price is sitting at 68p. For more than a year before the Rangers International share price was announced last month the price of Celtic shares never left the thirties. There has been considerably conjecture on why this is, which is probably worth some comment.
Rangers International’s (RI) opening share price of 70p valued the company at around £50m. By contrast, Celtic, who are and always have been, a top flight club, and who are in the financially rewarding Champions League, were valued at around £34m. On an initial pass, Celtic looked undervalued.
There are a few caveats to this story worth telling before you empty your holiday fund on the latest batch of Dutch tulips. Since Fergus McCann took over in 1994 Celtic have only paid dividends on preference shares, which the FSA require the club to regard as debt, not equity. No dividends have ever been paid on the ordinary shares and there appears to be no appetite among shareholders for this to change.
Celtic shares are also particularly illiquid – very few are available for sale at any point in time. When even a small surge of new buyers enter an illiquid market, without a corresponding rise in the number of sellers, a share price can be bid up considerably. Consider a stable average of 10 buyers and 10 sellers each day of a stock with 29,000 shareholders suddenly changing to 20 buyers and 10 sellers. The price would rocket despite no change in the fundamentals.
The possibility of Celtic playing in a domestic league beyond Scotland has again been on the agenda. Such an outcome would radically change the financial prospects of the club and is likely to have a considerable impact on the share price, but this remains no more than a talking point at the moment. Investors should regard this potential outcome as speculative.
Rangers International attracted considerable investment from organisations seeking a level of financial return which supports that £50m valuation. We can speculate what percentage return they will expect but the RI board have been explicit on their intention to produce a financial return.
I’ll not be investing in either company at the moment. Celtic will not pay a dividend on equity shares (which in years to come will evidently be a really good thing) and although I am sure Rangers International’s board will deliver an on-target return for investors (which in years to come will evidently be a really good thing), they appear negatively surprised by recent news on structural change in the Scottish game. Always take professional advice before investing more than you can afford to lose.
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Sky Sports Football @SkyFootball
Sky Sports understands Celtic are closing in on the signing of United States international Juan Agudelo. http://bit.ly/XVIChj
Kojo.
Funny old blog this.
I am long time admirer of yours.
Yet I am a huge admirer of one of your biggest CQN critics, SFTB.
Lang may yer lum reek.
A67
Afternoon bhoys from a sunkist hun free mountain.
I wonder if the msm will pick up on the events this morning, when 4 Hamilton supporters, and 14 Falkirk supporters were arrested at 5 o’clock this morning, for trouble that happened when they last played.
Nigh on a riot, but as Celtic weren’t involved………….
I know they battered down the door of one Falkirk fan, didn’t even knock, his Da ain’t a happy bunny.
TET you should just have said ALL the Falkirk fans. -))))
THE EXILED TIM
wouldnt lay any money on it when Celtic fans not involved
paranoid csc
HH
Burgas
They all have got a 4 year ban from all UK grounds, I don’t know who has done this, it looks like the polis, and they took their mobiles from them as well, dwindling gates at Brockvile…..
…………………………………….
dena29
We wouldn’t be Tims if we werny paranoid
Just dropped in to say…….
__________________________________________________
dirtymac
15:09 on 11 January, 2013
Sky Sports Football @SkyFootball
Sky Sports understands Celtic are closing in on the signing of United States international Juan Agudelo. http://bit.ly/XVIChj
Retweeted by Juan Agudelo
+++++
This a done deal?
Andrew67 ………
____________________________________________________________
Thanks for sharing yer info ghuys….
I would just like to say that this deal, as soon as I heard/read about it…made me think of a missed opportunity from us in the early 90’s when, Dundee Utd had a player called
Jerren Nixon. He was a brilliant entertainer. The hallmarks of having all the traits of traditional Celtic flair players. I can’t put my finger on why I suddenly thought of JN when I read this but…there ye go. Omens ? Who knows ?
If Celtic get him and he turns out to be the diamond in the rough – that’s great.
However…if he turns out to be another Ibrahim…?
Btw….It’ll be interesting to see if, Kenny Sheils can make player out of Ibrahim ?
Anyway – enough from this auld moaning git…
Off oot again
Enjoy yer day Celtic fans everywhere
God Bless
Hail Hail
laters….
Btw…I’m no sure if the link-thing will work…..
did I break the blog??????????????????/
Oh – it worked !
That’s great
laters….
HH
Thank God for that.
TET your right but we wouldnt have it any other way
HH
Fat Sally named Third Division manager of the month. lol!
He should really dedicate it to the referees…
Charlie is my Darling. I have simply loved it since they imploded & Died. I think the real start of the good times was the Conga and the Singing of The Huns are going bust, since then its been Jelly & Ice Cream all the way. However if Charlie goes ahead with todays plan it will top the lot. Please Please Charlie apply to join the Conference and I will pray to my patron Saint, St. Anthony that they accept ye. If the FA or EUEFA block it, please take them to Court in Strasburg, I don’t care whether ye win lose or draw but please do it.
Ah see that Celtic are.. still Sniffin’ aroon..
Juan Agudelo.
Hmmmmmmm
Looks Promisin’
He is a Great Prospect..
Here are a Few of His.. Rankings…Supplied by .. collie… who got them fae..
God’s Knows where… but…
Ah believe they are Genuine.
Compared wi’ Tony Watt..
Agudello Watt
Base Rating…. 67 62
Height… 185 178
Work Rate Med Med
Skill Moves 3 2
Total Stats 376 328
Pace 78 71
Shooting 63 58
Passing 51 40
Dribbling 70 64
They same source where collie goat these rankings..
Gies.
Messi..
Mostly.. 90s and a Few 80s across the Board.
Interesting stats..
Juan Baby..
‘
Outranks Tony..well.. in AWE CATEGORIES
Especially, in the PACE Ranking..
and
We awe know that Tony.. is Pretty Damn Fast..
Like Ah said..
Very Interrressstin.
Nae wonder Neil wiz Impressed wi.. Juanbaby…
Like tae see This Guy.
Kojo
Still.. Laughin’
corkcelt
What`s this about Charlie and the Conference?
JJ
miki67
14:56 on 11 January, 2013
If you gave that lot bars of Imp. Leather they’d only eat them. Be the best meal they’ve had in years.
………….
It would gae them a right good clean out in aw micki :>)
V
Juan Agudelo’s current club have got a forward called Cesar Romero.
How brilliant is that?
Juan Agudelo has been in London the last couple of days. Now being reported there has been a confirmed bid for him from Celtic.
Celtic Staff thought he was outstanding when on trial recently.
http://www.onfieldsofgreen.com/the-rude-the-mad-the-ugly/
The Big House is now The Big Top.
Enjoy.
Charlie and the Conference?
It would be the first conference in history that only had one speaker.
I would not advocate the signing of a player based on a you tube video.
Therefore I would not discount signing one based on the same medium.
Celtic are doing the sensible thing ,in having the players take part in training sessions in Marbella.
Reading have had a bid of £ 400k accepted for Tom Rogic.
We should not rush in.
Based on a 4 minute you tube video .He is weak in the tackle.
As I say ,not a basis for signing or not signing a player,but enough info to make youtake a closer look before jumping in.
Which is what Celtic are doing.
A67
Saltires en Sevilla
Well.. Pardon Me.. Pally
My Humblest Apologies..
Kojo
Still, Laughin’..Like .. Goodo.
Juan Agudelo been training with West Ham this week.
C_1st : ever the joker!
T4
Mr Green seems to have an exceptionally short memory.
I am sure FIFA get upset when clubs go to non-FIFA authorities to resolve football disputes. Has he forgotten already?!
He truly is looney-tunes!
James Forrest@16:14 Tremendous piece of writing .Chapeau doffed sir, I would recommend everyone read this article.Hail Hail Hebcelt
Charles Green, the Rangers chief executive, claims he could use sex discrimination laws to sue Uefa if they try to block the club’s moves to join a cross-border league.
Green has vowed to look into ways of taking Rangers out of Scottish football following the announcement of a new 12-18-18 league set-up – drawn up by the Scottish Premier League and Scottish Football League in conjunction with the Scottish Football Association – that would keep the club in Scotland’s Third Division, even if they go on to win the title this season.
Green believes he has precedent on his side when he claims the club should be granted access to leagues in other countries. He told TalkSport: “As the structures stand now, there are not many options. But I’m not one for hiding my light behind a bushel.
“People say you can’t go into England because you are not allowed cross-borders [leagues]. Well there is now a cross-border [league]. You have a Uefa-sanctioned professional women’s league in Belgium and Holland, so we have a precedent there.
“If there was an opportunity to join a cross-border league and that was challenged by Uefa, I would go to Strasbourg and challenge the sexual equality.”
Green also claimed that Rangers could apply to join the English Conference set-up before attempting to rise up the leagues. And he insisted he would do so with the blessing of the club’s supporters.
“I could join the Conference and I would be in a higher league than I’m in. It doesn’t matter to me [which league Rangers are in],” he added. “I can tell you this, if the only option is to go into England and start at the lowest level, I believe Rangers fans would support that.
Green also insisted that if Rangers were denied entry south of the border, PremierLeague side Swansea and Championship side Cardiff should then be booted out of England. He said: “People say you are not allowed in the English league – well let’s then kick Cardiff and Swansea out, because they are playing in a different country.
“People are saying Wales is fine but Scotland is not. We cannot have a situation where one of the Union is annexed by the football bodies but Wales can join. It’s rubbish.”
From official Sevco site:
‘CHIEF EXECUTIVE Charles Green has revealed that European club debts of the oldco Rangers have been paid or settled.
There was no compunction for newco to pay or contribute to any monies owed by the former owners. . . .
However, Green has decided that the honourable thing to do was to come to arrangements with all of the clubs who were owed money and he has done that with liquidators BDO.
He said: “What we have done since we came to Rangers was to act properly and not just for the best interests of Rangers but for football as a whole.
“We have a fiduciary duty and a responsibility to our share-holders and we want to run this club honourably and be fully transparent.” ‘
A fiduciary duty to shareholders? You do indeed Challs – care to explain to them why you appear to have alienated significant company funds where there was “no compunction” so to do?
James Forest 16.14
Thanks for that. The most accurate and amusing article that I’ve read for ages.
Aussie Bhoys-Any info on Tom Rogic?
My dear,dear, dear, Friend.. Andrew67
Hiya.. Pally?
Pleased tae mak yer Acquaintance..
Well.. Thankee Kindly, fur yer Welcome Nod.
Ah am Flattered …
It is nae Mystery , why ye are … NO ..Hivin’ a Conflict of Emotions..
which ye wid hiv expected…
concerning..how ye view the Submissions.. offered by SettingFree The Bears
and Yours Sincerely.
And this is in SPITE… of the Fact
that Baith him and Me..
Hold…
Diametric Opinions..oan Maist of the Subjects in which we correspond.
Actually..
Half of Whit Ah write.. Ah dinnae Believe,masel..
Ah am a REAL Twenty Trick Pony.
No yer usual common or Gairden… Wan Trick Wan..
Ah am definitely an Acquired Taste..
Luckily, fur me..is Seems that You,pally…
seems tae Hiv MADE ..
‘
That . ACQUIREMENT…
Nice chatting..
Kojo
Yer pal.. who likes ye , already
Still, Laughin..
Hi Fholks! Have been off the blog for a while. Just chipping in to say I’m off to Kenya this weekend with the Celtic Charity Fund. Really looking forward to working and helping out there. My suitcase is bursting at the seams with Celtic tops, educational supplies, sweets etc for the kids of the Linder Academy in Kibera. I just wanted to take this opportunity to thank all the CQNers who donated to my fundraising. The Dublin Marathon seems like a lifetime ago and yet still I am receiving donations from Celts far and near. The page is still open for donations for any latecomers :-) All the best and I’ll drop you all a line when I come back to share my experiences.
To Donate follow this link http://www.everyclick.com/sandskiberacelticappeal
Also if you want to read some background info on Kibera here is a good article from the economist :
http://www.economist.com/news/christmas/21568592-day-economic-life-africas-biggest-shanty-town-boomtown-slum
James Forrest
That is a terrific piece of writing that you linked us to.
I remember Tony telling Dr Melfi about Jimmy Smash.
A67
Marti Sandino
I have been to that area in Kenya. You will have a ball.
If you spot any Hoops in the Karen area they are probably mine. I took 50 shirts out.
LB
Monaghan1900
Or why he hasn’t extended that morality to The formers supporters/shareholders of the Oldco ,whose shares in Oldco are now worthless.
Shareholders,some of whom ,have personally asked him to do so ,and were told to go forth and multiply.
A67
Livibhoy
You’re supposed to donate shirts ,not take them (:-)
A67
Andrew67
Haha. They were donated by myself and Bhoys from the CSC.
Great times. Anyone who hasn’t been to Africa should go. A fantastic part of the world to visit.
LB
Interesting stats re the school shootings in the U.S., could it be the antidepressants and not the guns that are the root of the problem. Worth a look.
http://www.ssristories.com/index.php
Wonder if I should watch The Chase or go to the pub? :)