Journalist Stuart Hodge has alleged that Dermot Desmond is becoming less invested in Celtic thanks to riches elsewhere.
Desmond is the Scottish Premiership giants’ majority shareholder, with Market Screener showing the Irishman owns a 34.7 per cent stake.
What’s the latest news involving Desmond?
Desmond has been on the club’s board as a non-executive director since May 1995, making him the longest-serving member in Celtic’s boardroom.
The 71-year-old’s wealth is valued at more than £1.5billion by Forbes having started his career in finance at Citibank before founding NCB Stockbrokers and starting his own private equity firm International Investment & Underwriting.
Desmond revealed earlier this year that he would not sell his shares in the club following calls for him to step aside.
Instead of walking away, he played a leading role in the Bhoys appointing Ange Postecoglou as their new manager in June and reportedly took a hands-on approach in helping the boss to rebuild his Celtic squad by being involved in the process of securing deals during the summer transfer window.
Although he admitted to holding conversations with Desmond and enjoying the board’s full support, Postecoglou insisted he was in charge of the Glasgow club’s strategy when it came to bolstering the squad.
What has Stuart Hodge said about Desmond?
Hodge believes Desmond’s fortune is not enough to allow Celtic to compete on the global stage or in Europe’s biggest competitions.
The journalist feels the increase in spending within the game has resulted in Desmond’s enjoyment of his role at Parkhead altering.
Hodge told GIVEMESPORT: “I get the impression that the love for what he could make out of Celtic maybe isn’t what it used to be in yesteryear.
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“A man of Dermot Desmond’s means used to be a big hitter in football but just look at Newcastle’s wealth.
“That tells you that a man of Dermot Desmond’s means isn’t really going to be able to make a big impact in terms of Celtic on the global stage.”
How does Desmond’s wealth compare to that of Newcastle’s owners?
Desmond is valued at more than £1.5billion, which is far more than the vast majority of us could dream of, but that is actually a slender amount when compared to the fortune of Newcastle’s backers.
The Premier League club were taken over in a £305million deal in October, with 80 per cent of the funds being provided by the Saudi Arabia-based Public Investment Fund.
A consortium led by the Public Investment Fund, and also comprising PCP Capital Partners and RB Sports & Media, has taken full control of Newcastle.
The takeover has made the Magpies the richest club in world football, with the Public Investment Fund worth a whopping £320billion.