{"id":312949,"date":"2025-08-02T21:58:34","date_gmt":"2025-08-02T21:58:34","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/312949\/"},"modified":"2025-08-02T21:58:34","modified_gmt":"2025-08-02T21:58:34","slug":"paul-larkins-dermot-desmond-claims-worthy-of-consideration","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/312949\/","title":{"rendered":"Paul Larkin\u2019s Dermot Desmond claims worthy of consideration"},"content":{"rendered":"

Writer, producer and Celtic supporter Paul Larkin is a name on the lips of the Celtic support<\/strong> following a Substack article he published at the end of last week ie BEFORE<\/strong> Brendan Rodgers spoke the media on Friday afternoon. And that one\u2019s on the back of another he wrote on 28 July. Both of which have made for some interesting reading.<\/p>\n

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\ud83d\udea8 BREAKING: Brendan Rodgers says he has held talks over a new Celtic deal but will only stay if the club want to \u201ccontinue moving forward\u201d.<\/p>\n

Watch Celtic vs St Mirren on Sky Sports on Sunday \ud83d\udcfa pic.twitter.com\/ZPZMz7l7xC<\/a><\/p>\n

\u2014 Sky Sports Scotland (@ScotlandSky) August 1, 2025<\/a><\/p>\n<\/blockquote>\n

Larkin, just as a wee reminder for those who may recognise the name but can\u2019t remember from where, is the man responsible for Anyone but Celtic<\/strong> and the Asterisk Years<\/strong>. Indeed, he has a new book out soon on the Martin O\u2019Neill era \u2018MONBALL\u2019 \u2013 Celtic versus the (D)EBT Rangers<\/strong>. <\/p>\n

Firstly, here\u2019s where you can read Paul\u2019s latest piece titled. \u2018Has Dermot Desmond given up?<\/a><\/strong>\u2019 and also, the article from 28 July he references <\/a>in his latest article.<\/p>\n

Both articles are NOT<\/strong> behind a paywall.<\/p>\n

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Has Dermot Desmond given up? \ud83c\udf40 https:\/\/t.co\/wTORgJ357Y<\/a> pic.twitter.com\/x2T1yI4BSY<\/a><\/p>\n

\u2014 Paul Larkin (@paullarkin74) July 30, 2025<\/a><\/p>\n<\/blockquote>\n

And here\u2019s the bit that has caught the attention of a Celtic support experiencing the eerily familiar feeling of another transfer window on repeat\u2026\"Celtic'sAlfred Dunhill Links Championship 2024 Dermot Desmond and Thorbjorn Olesen DEN winners of the team event receiving there silver salvour from Peter Dawson Alfred Dunhill Links Trust after the final round of the Alfred Dunhill Links Championship 2024 on the Old Course at St. Andrews Golf CLub, Fife, Scotland. 06\/10\/2024. Picture Fran Caffrey \/ Golffile.ie<\/p>\n

\u2018My understanding is there are six players lined up but Dermot Desmond has refused to sanction any of them. As I\u2019ve said in a few articles, I\u2019ve been told time and again that Desmond has already stood down Peter Lawwell and, by some accounts, the PR Department (I say department; there\u2019s two of them) and therefore no briefing is going on at all.<\/strong><\/p>\n

\u2018One of my many bug bears regarding Desmond is the way he acts like he owns the club. He doesn\u2019t. In fact, if he bought 100% of the shares then he could do what he wanted, whether we liked it or not but he hasn\u2019t so he can\u2019t.\u2019<\/strong><\/p>\n

\"ThePeter Lawwell, Chairman of Celtic, Dermot Desmond, Non-Executive Director of Celtic, and Michael Nicholson, CEO of Celtic, are seen in attendance prior to the Scottish Premiership match between Celtic and theRangers at Celtic Park on March 16, 2025. (Photo by Ian MacNicol\/Getty Images)<\/p>\n

Now, I\u2019ve no idea if Paul Larkin\u2019s article is factual, however I\u2019ve no reason to doubt it\u2019s not.<\/strong> But if by now you have read the article in question, and you wonder, if Dermot Desmond doesn\u2019t own Celtic then why is it possible he could exert so much influence, then here is a general run through on that matter.<\/p>\n

Paul is quite right when he says Dermot Desmond does not own Celtic Football Club. That may come as a surprise to some, especially given the way he apparently exerts influence and presents himself in relation to the club. But the facts are straightforward: Desmond owns approximately 34.7% of the shares in Celtic PLC, making him the largest single shareholder, but not a majority one.<\/p>\n

So how is it that a man who doesn\u2019t own half the club could be able to behave as if he does?<\/strong> The answer lies in a combination of shareholder disengagement, historical quirks in how Celtic\u2019s ownership was structured, and the silent power of what are often referred to as \u201cdormant shares.\u201d<\/p>\n

\"FergusFergus McCann Celtic director MD with model of new east Stand for Celtic Park<\/p>\n

In the mid-1990s, Fergus McCann famously saved Celtic from financial collapse<\/strong> and ushered in a new era of supporter involvement. As part of the restructuring, McCann offered shares in the club to ordinary fans, and over 30,000 individuals bought in. Many fans purchased small lots of shares \u2014 10, 50, maybe 100 \u2014 giving rise to the belief that Celtic had become a genuinely democratic institution, with a broad base of support and accountability built into its corporate structure.<\/p>\n

But time has eroded much of that idealism. The shares issued in the 90s were predominantly paper-based, and over the years, thousands of them have fallen into disuse. Some shareholders have moved house and failed to update their details. Others have passed away, leaving shares unclaimed or languishing in probate limbo. Many more simply forgot they owned them or never learned how to exercise their voting rights.<\/p>\n

The result? A large portion of Celtic\u2019s shareholding base is now functionally dormant \u2014 estimates vary, but somewhere between 20\u201325% of shares are not being voted on at all. In practical terms, they are dead weight in the democratic process.<\/p>\n

And this is where Dermot Desmond\u2019s real power comes from \u2014 not from majority ownership, but from majority influence in a landscape of apathy and inaction.<\/p>\n

At Celtic PLC\u2019s Annual General Meetings (AGMs), voting turnout is historically low \u2014 typically under 30% of the total shareholding. In that context, Desmond\u2019s 34.7% stake becomes overwhelmingly powerful. If only a third of shares are voted on, and he controls the lion\u2019s share of that third, Desmond could, in theory, effectively dictate outcomes without ever holding an actual majority.<\/p>\n

\"TomTom Grant sitting to the left of Fergus McCann at Celtic Park<\/p>\n

This is what former Celtic Trust chair David Low described along the lines of de facto control Fergus McCann\u2019s adviser fears Celtic are vulnerable to Qatari takeover | The Herald. In his view, Desmond doesn\u2019t need to own Celtic outright \u2014 because the combination of dormant shares, low turnout, and the fragmented nature of fan ownership gives him near-absolute authority regardless.<\/p>\n

Low also noted that, unlike Desmond, the thousands of small shareholders rarely act in concert. Even when they do participate, their votes are scattered and diluted. Meanwhile, Desmond\u2019s votes are consolidated, strategic, and reliably counted \u2014 the very definition of political efficiency.<\/p>\n

Celtic PLC, as a public limited company, does have legal obligations under UK company law \u2014 specifically the Companies Act 2006 \u2014 to maintain an accurate and up-to-date register of members. This register, managed by Celtic\u2019s appointed registrar (currently Computershare Investor Services PLC), must include the names, addresses, and shareholdings of every registered shareholder.<\/p>\n

However, while the club is required to update this register when notified of changes, it is not legally required to proactively trace or re-engage shareholders who: Move house and fail to notify the registrar. Lose paper share certificates. Or pass away, with no action taken by their estate.<\/p>\n

In other words, Celtic is legally compliant if it keeps the register updated based on the information it receives \u2014 but has no duty to chase missing or dormant shareholders. Some companies voluntarily employ tracing services to locate lost shareholders or clean up the register, but Celtic has not publicly pursued such efforts in a significant way, as far as we know.<\/p>\n

Dividends left unclaimed for more than 12 years can be forfeited under the company\u2019s Articles of Association, but the shares themselves do not expire. However, if shareholder contact is lost, voting rights may be suspended, and mail may no longer be sent.<\/p>\n

This legal framework arguably helps entrench the status quo \u2014 because unless shareholders take active steps to maintain their position, their influence fades, and control consolidates in fewer hands.\"DermotDermot Desmond prior to the Celtic vs St Mirren Cinch Premiership match at Celtic Park on May 20, 2023 (Photo by Ian MacNicol\/Getty Images)<\/p>\n

The Celtic Trust, then under David Low\u2019s leadership, attempted to mount a response. Their aim was to consolidate small shareholders into a single, active voting bloc capable of challenging Desmond\u2019s influence. They launched campaigns to educate fans about their rights, encouraged people to digitise their old paper shares, and proposed motions to reform aspects of the club\u2019s governance.<\/p>\n

Their core argument was simple: Celtic belongs to its people. But those people must speak up, or risk losing their say altogether.<\/strong><\/p>\n

The task, however, is immense. Tracking down thousands of shareholders, many of whom may not even realise they still own shares, is no small feat. Even harder is convincing people to engage with a complex and often intimidating process \u2014 from registering with share registrars to understanding proxy voting procedures and AGM rules.<\/p>\n

And all the while, Desmond could exercise effective control \u2014 not because the rules are rigged, but because most fans and shareholders are absent from the game being played.<\/strong>\"DermotDermot Desmond<\/p>\n

So, when Paul Larkins posits that Desmond \u201cacts like he owns the club.\u201d On paper, he doesn\u2019t. He could not, for example, sell Celtic without significant shareholder support. But in day-to-day governance, strategic planning, and influence over the board, Desmond\u2019s word is final more often than not.<\/p>\n

He doesn\u2019t own Celtic. But for all practical purposes, he may as well.<\/p>\n

This brings us back to Paul Larkin\u2019s observation \u2014 that Desmond may have \u2019given up\u2019.<\/strong><\/p>\n

If Dermot Desmond has truly given up on Celtic, as suggested, it poses risks on and off the pitch. As the club\u2019s de facto controller, his disengagement could create a leadership vacuum, weakening strategic direction and exposing Celtic to instability or opportunistic investors as David Low once also considered.<\/p>\n

Topically, it could also impact the transfer window \u2014 without Desmond\u2019s backing or intervention, the club may become overly cautious, miss key targets, or fail to invest adequately. This risks weakening the squad and undermining both domestic success and European ambitions.<\/p>\n

\"AustonAuston Trusty of Celtic during the pre-season friendly match between Celtic and Newcastle United at Celtic Park on July 19, 2025 in Glasgow, Scotland. (Photo by Ian MacNicol\/Getty Images)<\/p>\n

But what is more likely is not that Dermot Desmond has \u201cgiven up\u201d on Celtic. It\u2019s equally possible he may be, in his view, taking a tactical approach to this transfer window. He may see value in waiting out the market, expecting selling clubs to drop their demands later in the window \u2014 a strategy that, whether we agree with it or not, reflects a calculated stance.<\/p>\n

\"ArneArne Engels of Celtic Sporting Lisbon v Celtic, Pre Season Friendly, Football, Estadio Algarve, Portugal \u2013 16 Jul 2025 Estadio Algarve Portugal Photo Carlos Rodrigues Shutterstock<\/p>\n

Last season\u2019s arguably inflated fees for players like Adam Idah and Arne Engels may have countered that view somewhat, but Desmond, though not a majority shareholder, can still act with control \u2014 and continues to play within the rule if he does. So, if Paul Larkin is correct, the supporters get stuck playing the waiting game.<\/p>\n

\"AdamAdam Idah celebrates. Aberdeen 1-5 Celtic. Photo Vagelis Georgariou (The Celtic Star)<\/p>\n

True democratic control isn\u2019t just about issuing shares \u2014 it\u2019s about ensuring those shares are used. Until that happens, Celtic may remain, in governance terms, a one-man show operating under the illusion of plurality.
And, if anyone wonders why there\u2019s growing interest from U.S. investors in Scottish football \u2014 despite Celtic\u2019s clear financial dominance \u2014 it may be because they sense an exploitable weakness.<\/strong><\/p>\n

Niall J<\/p>\n

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