The Celtic ownership structure leaves them ‘vulnerable’ to a Qatari takeover, according to Fergus McCann’s former advisor.
David Low is a lifelong Hoops fan and was instrumental in the Canadian businessman buying the club in the 90s and laying the foundations that has allowed Celtic to grow into what it has become today. Things off the pitch have never been better with the champions raking in eye-watering profits, mainly thanks to a return to the Champions League group stage.
Ange Postecoglou is keeping the trophies coming on the park, with a second successive Premiership title extremely likely come May. The Viaplay Cup is back in the cabinet and a Treble remains on the cards ahead of a Scottish Cup quarter-final tie against Hearts. Dermot Desmond can sit back contentedly, safe ion the knowledge that his club is in rude health.
But the fact that they are HIS club is what makes a takeover - the likes of which we have seen down south with Newcastle, Chelsea and perhaps soon, Manchester United - a possibility and something that Celtic fans need to be wary of.
"Celtic are doing swimmingly," Low told the Herald. "They are winning and they are extremely unlikely to ever be in a rescue situation. Corporately, they are very well run.
“(However), that hoary old subject, who owns the club. It was always very important to Fergus McCann and I, and to many others as well, that Celtic had the right balance between corporate ownership and fan ownership," he said. "To such an extent that Fergus committed to offering his half to the fans after five years to establish that balance.
"But not enough fans bought shares to enable them to own half. There were four share issues in 11 years (in 1995, 1999, 2001 and 2005). Fans were all shared out. There was a smaller and smaller fan uptake with each successive issue and that allowed corporate interest to get higher and higher. Dermot Desmond emerged as Mr Big.
"The fans' influence has waned. When McCann and I were they held over a 50 per cent stake. It is out of synch a little bit now. This is nothing to do with the stewardship of the club or how it is run. It is just the way of the world.
"Dermot Desmond is in a controlling position. I am not saying this will happen, but we could wake up tomorrow and find he has sold his shares and control. It would not just be a case of him selling his shareholding like he did with Manchester United to the Glazers. As I say, with Celtic he has a controlling position.
"When you have that, you can find control has been sold to someone the fans don't want. It has happened to Newcastle United fans, Everton fans, Manchester United fans. Fans have no say, it just happens. I am not picking on.
"Dermot Desmond, it is just the reality of what could happen. It might be something that comes to a head.
"Ideally, the corporate owner of a football club wants to get as much as possible for their stake. They go through the motions and say: 'I am only going to pass it on to someone with the best interests of the club at heart'. A lot of the time that is true, but a lot of the time it is not true, it is just down to the amount of money they have been offered.
"I just don't want to find that Dermot Desmond has sold his shareholding to Qataris. As well as being a businessman, I am a fan and believe fans should have a say and an influence in their club if not necessarily ownership of their club. As Jock Stein said, 'Without fans, football is nothing'."
READ NEXT:
