This year marks 30 years since Dermot Desmond first invested in Celtic, a milestone that has seen him evolve into the club’s largest individual shareholder and most influential boardroom figure.
Celtic Independent Non Executive Director Dermot Desmond and Ian Bankier – Celtic Chairman (L)
Mandatory Credit: Action Images / Andrew Boyers
Speaking on Graham Spiers’ Press Box podcast, Stephen McGowan gave an insight into the business philosophy that continues to shape the club under Desmond’s guidance.
McGowan was quick to acknowledge Celtic’s stability and success off the park but admitted that the club sometimes played it too safe when it came to transfer windows and dealings.
“We all accept that Celtic are a well-run club, but it’s about degrees of risk here.
“We’re talking about how conservative and risk-averse the people running the club are.
“Now, I remember there used to be a scout, who is still around working for the club just now, who used to recommend players in South America. And he recommended a young guy by the name of Moises Caicedo.
“But, of course, to sign him it would have cost 3 or 4 million pounds for an 18-year-old kid. Celtic just didn’t act on that.
“People were thinking, ‘spending that on a young South American player that’s a risky business’.
“But of course then, he goes on and becomes the most valuable player in British football.
“I think it ‘s just that feeling that the club are risk risk-averse and a bit safe sometimes with their transfer dealings.”
Caicedo moved to Chelsea from Brighton for a deal worth up to £115 million, penning an eight-year contract with the option for another one. This surpasses the previous British transfer deal of £107 million paid by Chelsea for Enzo Fernandez.
While Celtic have enjoyed immense domestic dominance and solid financial health under Desmond’s stewardship, some fans and observers still wonder whether a little more ambition in the transfer market, particularly with emerging global talent, could take the club to the next level in Europe.
For now, Desmond’s cautious but steady approach continues to define Celtic’s place as one of the most financially secure football clubs in Britain, but perhaps at the cost of the occasional missed gem like Caicedo.
