Celtic News

Incredible ‘Multi million pound hit’ Celtic prediction by football finance expert

|
Image for Incredible ‘Multi million pound hit’ Celtic prediction by football finance expert

With the news that Celtic will face a US style class action lawsuit from the victims of abuse at Celtic Boys Club breaking this week, if successful, the club could face a multi million pound compensation claim.

As twenty five victims of the horrific abuse aim to get justice for their suffering, a football finance expert claims that the compensation payout would be the least of Celtic’s worries if this lawsuit was successful.

Kieran Maguire of Football Insider, has said that the reputational damage with the publicity it will bring will long term, do more financial damage to the club as it could deter ang long term investment into the club, “They wouldn’t have budgeted for this.

“But with that being said, they could have some sort of insurance that covers that claim.

“Their concern on a broader sphere would be reputational damage if a settlement is made or it goes to court.

“That can make it more difficult to sign deals with sponsors, of course.

“That’s an important income stream for clubs in Celtic’s position.

“This is a nasty case. If the worst happens here, it makes it less likely that commercial partners will want to be associated with the club.”

It goes without saying that these survivors deserve justice and compensation and I genuinely hope that they do get it, but whether or not this case would bring that level of damage of to the club’s current reputation on events that happened 40-50 years ago will remain to be seen.

Share this article

Leave a comment

Your email address will not be published. Required fields are marked *