Celtic chairman John Reid has reassured fans by publicly rubbishing rumours that the club could be taken over by foreign investors.
A number of English clubs such as Chelsea, Manchester United, Liverpool and Manchester City have all been bought over by foreign businessmen in recent years, but Mr Reid told the BBC that neither he, nor majority shareholder Dermot Desmond would entertain the idea of Celtic joining that list.
The former home secretary told BBC Radio 5 Live that, although the club wanted to compete on a global stage, selling out to foreign investors was not the answer.
"Dermot has been a fantastic support for the club," he told the BBC.
"We're quite happy taking the (television) money that we got and doing what we have.
"The key thing about it is not to have somebody who is just handing money out to you, but to run a good business model.
"And despite all of the problems we've had and the limited resources, at our AGM last week we were able to report again that, on the business side, we had the board and shareholders had made a small profit."
Mr Reid did bemoan the fact that Scottish clubs can't compete with the media-money being thrown at Europe's elite, but ruled out looking for a foreign 'sugar daddy' in the way that other clubs have.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
