Why Celtic (LSE: CCP) or CLTFF Is Worth $1 Billion

Celtic plc (LSE: CCP) or CLTFF has £67.327 million in net cash.

CCP's 19.45 hectares or 48.06 acres of land in Lennoxtown next to Lennox Castle that they acquired for £493,000 in June 2006 (no evidence of corruption was found) to build their Lennoxtown Training Centre had an estimated market value of £32.5 million at the time it was acquired. The Scotland "all properties" price index has increased by 58.02% between June 2006 and April 2024. NIA estimates that CCP's 48.06 acres in Lennoxtown is currently worth £51.36 million.

CCP's 5.33 hectares or 13.17 acres of land at Westhorn near Celtic Park that they acquired for £675,000 in January 2008 (no evidence of corruption was found) had an estimated market value of £11.4 million at the time it was acquired. The Scotland "all properties" price index has increased by 37.54% between January 2008 and April 2024. NIA estimates that CCP's 13.17 acres at Westhorn is currently worth £15.68 million.

Since going public, CCP has invested a total of £83.127 million into Celtic Park upgrades and maintenance. NIA estimates that Celtic Park and its land is worth approximately £300 million. In comparison, the most similar MLB stadium to Celtic Park is Fenway Park. Forbes estimates that the Boston Red Sox's Fenway Park is worth $1.156 billion or £906.67 million. Celtic Park's capacity of 60,363 is 59.88% larger than Fenway Park's capacity of 37,755. A valuation for Celtic Park of £300 million or less than one-third of Fenway Park's valuation of £906.67 million when Celtic Park is 59.88% larger is a conservative estimate. On TripAdvisor, both Celtic Park and Fenway Park are ranked the #2 best thing to do in Glasgow and Boston, respectively. 90.73% of Celtic Park reviews are a perfect 5 stars vs. 76.21% of Fenway Park reviews a perfect 5 stars.

NIA believes the Celtic FC brand is worth at least £200 million and if the Boston Celtics sell for $7-$8 billion like NIA predicts, the market could potentially value the Celtic FC brand significantly higher than our estimate of £200 million. CCP's Adidas deal alone earned the company €34 million in 2023 with Celtic FC kit sales breaking out into Europe's top 20 for the first time ever with a ranking of #17 out of all 1,100+ European football clubs. For comparison, Manchester City kit sales in 2023 were €73 million and it was recently estimated that the Manchester City brand is worth £1 billion. If demand for Celtic FC kits is equal to 46.58% of Manchester City kits a valuation for the Celtic FC brand of only 20% of Manchester City's brand value of £1 billion is a conservative estimate.

Transfermarkt estimates that the Celtic FC Men's Squad has total value in the transfer market of €123 million or £104 million. They value Matt O'Riley at €20 million and many English Premier League teams are desperately trying to buy him from Celtic FC this summer. Many industry insiders believe that Celtic FC could receive a record breaking £30 million transfer fee for Matt O'Riley, which is much more than the Transfermarkt valuation estimate.

One week ago, a Carlyle led investment group acquired National Women’s Soccer League’s Seattle Reign for $58 million for a valuation increase of 1,557% in the last five years from the $3.5 million they were previously acquired for in 2019. The Seattle Reign are terrible with a current record of 2 wins and 9 losses. CCP's Celtic Women's Football Club had a record this year of 26 wins and 2 losses and won the national championship! NIA is sure that the Celtic Women's Football Club is worth an amount that is at least equal to the Seattle Reign of $58 million or £45.52 million and it is probably worth a lot more than that!

How about we add this up...

Net cash: £67.327 million, Lennoxtown Land: £51.36 million, Westhorn Land: £15.68 million, Celtic Park: £300 million, Celtic FC Brand: £200 million, Celtic FC Men's Squad Total Transfer Market Value: £104 million, Celtic Women's Football Club: £45.52 million.

This values Celtic plc (LSE: CCP) at £783.89 million and CLTFF at $1 billion!

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