Scottish football club Celtic has been urged by its supporter shareholders to consider a share issue as an alternative to season ticket refunds for the 2020-21 season, which has been held behind closed doors.
The Celtic Trust made the proposal to the Premiership football club’s board stating that “it is crucial to retain money in the club” with ongoing uncertainty over when crowds will be allowed back into stadia and a new manager and a team rebuild on the horizon.
The cheapest season ticket costs £510 and during this season without fans all customers have only received a match streaming service worth around £90 for the season.
Celtic receives around £25m from supporters for season ticket purchases annually, with season ticket holders yet to hear from the club with regards to refunds for the missed season. However, some hospitality season ticket holders have already been offered a cash refund option.
David Low, chairman of The Celtic Trust, said: “Due to Covid, it’s a very difficult time for the whole sport and as Celtic fans we’ve had a very disappointing season. We want to help retain cash within the club and encourage season ticket sales for next season.
“We want to start next season in as strong a position as possible and our proposal helps achieve that objective.”
The Trust’s proposal also claimed that the move creates a “positive dynamic” for the sale of season tickets in season 2021-22 and offers a younger generation of supporters an “opportunity to own a stake in their club.”
The announcement comes after cross-city rivals Rangers were confirmed as league champions on Sunday for the first time since 2011, breaking Celtic’s nine-year dominance. Celtic is also on the hunt for a new manager after Neil Lennon resigned.