Football fans have tended to invest in the sector on the basis of the heart rather than the head. But for those eyeing a rejuvenated Celtic, the word from one broker is that now is the time to buy.

Dolmen Butler Briscoe notes that the club's shares are 30 per cent off their high for the year and lag their sector by 8 per cent. It points to the club's recent success and the potential for profit if that should continue, although it says Celtic still needs to invest in players. European success has underpinned growth at Manchester United plc and the broker stresses the importance of Celtic attaining more success on the European stage.

However, to maximise value, the broker says the company will need to expand its traditional retail capabilities and capitalise on the opportunities for e-commerce on the back of its strong global brand . . . oh, and be more consistently successful on the field.

Dominic Coyle can be contacted at dcoyle@irish-times.ie