Financier Dermot Desmond looks to become a major force in Scottish sport following the news that he is to increase his stake significantly in the Glasgow soccer club, Celtic. It is understood that Mr Desmond is spending £9.5 million increasing his holding from 13.8% to 19.8%. The acquisition of a further shareholding came about through the decision of the managing director Fergus McCann to off load his 50% stake. Following the completion of the deal, Mr Desmond will be the largest shareholder in the club.