A confidential report into Celtic’s finances has revealed they are on course to announce revenue of £112million for the year ending June, 2023.
That would represent a record annual sum posted by any Scottish football club and shares in the Hoops have subsequently increased to £1.73 – almost seven times higher than the 25p Stuart Gibson paid for each of his 4.2m Rangers shares at the end of January . The report was commissioned by the club’s stockbrokers, Canaccord Genuity Ltd, a global investment bank focused on growth companies with operations worldwide. Their report has been distributed privately to clients. The company suggests that investing in shares in the Premiership champions promises to be a bargain because it believes their price has been undervalued by the markets.
Football finance expert David Low was Fergus McCann’s right-hand man when the US-based millionaire saved Celtic when they were just eight minutes from going to the wall 29 years ago. He studied Canaccord’s figures and, while they are clearly positive for Celtic, they won’t make good reading for their closest rivals in the Premiership title race and opponents in next month’s Scottish Cup semi-final.
