News 11/28/98 - Rock Star Bono in Celtic Takeover Consortium (fwd)

Elizabeth Platt ([email protected])
Sun, 29 Nov 1998 16:39:47 -0800 (PST)

[Yes, folks, it's baaaa-aaack!! The whole Bono/Celtic FC takeover
story...This article repeats some of the info that another Wireling
already posted, from the Reuters news service, and adds a bit more
background. Remember, when this rumor first surfaced some months ago, it
was officially denied. Don't know why it's re-appeared. I'd say wait a
bit, and see if there's any confirmation from Principle Management about
this, before you all go out and buy Glasgow Celtic scarves to wave at the
next U2 concert... -- eaplatt]

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          Rock Star Bono In Celtic Takeover Consortium

PA 11/28/98 17:04
Copyright 1998 PA News

  Rock star Bono was tonight revealed as the third high-
profile member of the consortium aiming to take over Celtic
football club.

   Former Scottish international and Celtic great Kenny
Dalglish and Jim Kerr, the lead singer of rock group Simple
Minds, are heading the group which is preparing to attempt to
buy out club chairman Fergus McCann.

   Now Bono, the lead singer of Irish group U2, has been
confirmed as a member of that consortium by sources close to
the star in his home country.

   Bono, who is a close friend of Kerr and has been linked
several times in the past with attempts to take over the
Glasgow club he avidly supports, has so far preferred to
remain out of the limelight.

   But it is likely that just like Dalglish and Kerr, he will
invest some of the vast fortune which he has accumulated
during his rock career into the club if the bid succeeds.

   The consortium, which is backed by City financiers, is
hoping to take control of Celtic with a takeover that could
cost them more than 100 million.

   McCann, who plans to leave the club by the end of this
season after a highly controversial and increasingly unpopular
five-year reign, must decide whether to accept their bid amid
growing pressure from many Celtic fans.

   However, he has already indicated that he would prefer to
sell his 51% shareholding to existing shareholders and does
not want a powerful consortium to dominate the club.

   Many supporters are nevertheless attracted by the glamorous
figures fronting the consortium, with former Liverpool and
Newcastle manager Dalglish being a legend at Celtic, having
appeared 324 times for the club between 1968 and 1977.

   The consortium is also planning to invest a considerable
sum of money, believed to be more than 10million, into new
signings at a club which has so far failed to build on last
season's title success after nine years of dominance by close
rivals Rangers.

   Nobody was available to comment at Celtic tonight, while a
spokesman for the consortium said he was unable to say whether
Bono was involved or not due to legal reasons at this stage of
the bid process.

   "Matters are progressing," he added.

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