American billionaire Fisher buys 3.24% stake in Celtic

By PAUL DRURY

AN AMERICAN billionaire has bought a slice of Celtic Football Club. John J Fisher, the son of the tycoon who founded the Gap clothing chain, snapped up 3.24 per cent of the Parkhead club.

At yesterday's share price, Mr Fisher would have paid just under £630,000 for his stake. The sale will immediately spark fears that Celtic could go the way of Premiership giants Manchester United and Liverpool, who are now in American hands.Until now, ownership of Celtic has rested with the Irish billionaire Dermot Desmond.

Despite enjoying massive windfalls in his other business interests – he made a £700 million profit on the sale of London City Airport – Desmond has not sanctioned a big spending spree at Celtic.Incomer Fisher is ranked the 258th richest person in the world, with an estimated fortune of $2 billion. Educated at Princeton University, 46-year-old Fisher is the son of Donald Fisher, who started the Gap clothing chain in San Francisco in 1969. He is a major fundraiser for the Republican Party in the US and played a leading role in the election of Arnold Schwarzenegger as the Governor of California.Father-of­four Fisher lives in Presidio Heights, San Francisco, with his wife, Laura. He keeps a very low profile, though insiders say he has attended a number of games at Celtic Park.Fisher has an interest in another sport, as joint-owner of the American baseball team, the Oakland Athletics.

Peter Rafferty, president of the Affiliation of Celtic Supporters Clubs, said fans will want to know more about Mr Fisher.He said: "We are always extremely interested in anyone who is buying into the club. We are very protective of our heritage. To be honest, this has come as something of a shock today. Fans will want to find out who he is, his motives in making such an investment and his vision of the future of the club."Last month, Celtic director John Keane increased his stake in the club to almost 6.5 per cent by buying a further 1.4 million ordinary shares.In recent weeks, other Celtic shareholders have been asked if they are prepared to sell any of their holding in the Glasgow club.