Celtic Shareholders Urge Club Board To Drop Joint Deals With Rival Rangers
A group of Scottish Premier League Celtic FC shareholders are "calling on the club to drop any joint sponsorship deals" with Scottish Third Division club Rangers in an attempt to break an "unwanted alliance" with its rivals, according to the SCOTSMAN. A resolution put forward by a group of unidentified shareholders for the upcoming Celtic annual general meeting states that "it would be preferable to drop sponsorship altogether rather than sign joint deals with Rangers." Celtic and Rangers "currently share a shirt-sponsorship deal with Tennent’s, which runs out next year." The resolutions states: "In recent years the joint shirt sponsorship with Rangers FC has become increasingly unpopular with supporters, as has the term 'Old Firm'" (SCOTSMAN, 10/22).
NO SUPPORT FROM BOARD: STV.tv reported that in response to the shareholders' resolution, "the Celtic board has stated that it would not back such a proposal," as it would "seriously limit the number of potential sponsors available and hinder the company unnecessarily in any sponsorship negotiations that did take place." The club’s board said sponsorship deals are "shaped not only by what the board considers to be in the company’s best interests but also the commercial position of the proposed sponsor, and the marketplace" (STV.tv, 10/22).