News Alerts
Headlines
Second Champions League stage sends Celtic shares soaring
Scotland - 24 November, 2006
Adjust font size:
Following Scottish Celtic's move into the Champions League second stage for the first time, shares in the club jumped 15 percent.
Celtic beat English Manchester United 1-0 to secure progress into the knockout stage of Europe's premier club competition. The next day, the club's share gained rapidly.
The result could be worth millions of pounds in prize money, gate receipts, television and sponsorship deals.
"The shares are up because of the result last night," said analyst Stan Lock, of Brewin Dolphin. "They are in the next stage of the competition and if you get there, there is more money. There is a few million pounds involved and the further you go the bigger it gets."
The rise in the share price added about GBP 4 million to Celtic's price, which now has a market capitalisation of GBP 28 million.
Still, Lock said the shares were "very cheap" in comparison to other football clubs. English West Ham United, for instance, was sold for GBP 85 million earlier in the week.
The club is 40 percent owned by Irish entrepreneur Dermot Desmond, who sold London City Airport for a reported GBP 750 million last month. He also owns online betting firm Netdaq.
Celtic has not qualified for the knockout stages of the Champions League since it was launched in 1992. The club was the first from Britain to win the European Cup – a predecessor to the Champions League – in 1967.
Celtic beat English Manchester United 1-0 to secure progress into the knockout stage of Europe's premier club competition. The next day, the club's share gained rapidly.
The result could be worth millions of pounds in prize money, gate receipts, television and sponsorship deals.
"The shares are up because of the result last night," said analyst Stan Lock, of Brewin Dolphin. "They are in the next stage of the competition and if you get there, there is more money. There is a few million pounds involved and the further you go the bigger it gets."
The rise in the share price added about GBP 4 million to Celtic's price, which now has a market capitalisation of GBP 28 million.
Still, Lock said the shares were "very cheap" in comparison to other football clubs. English West Ham United, for instance, was sold for GBP 85 million earlier in the week.
The club is 40 percent owned by Irish entrepreneur Dermot Desmond, who sold London City Airport for a reported GBP 750 million last month. He also owns online betting firm Netdaq.
Celtic has not qualified for the knockout stages of the Champions League since it was launched in 1992. The club was the first from Britain to win the European Cup – a predecessor to the Champions League – in 1967.
Source: euFootball.BIZ © Copyright 2006 -
All rights reserved.
© Copyright message
The copying, republication, redistribution or web posting (including by framing or similar means) of this content is expressly prohibited without the prior written consent of euFootball.BIZ
-
Finance
Television
Sponsorship
Marketing
Technology
Competitions
Clubs
Stadia-Facilities
Legal
Administration
Events