 In 2005, Celtic issued a share offer designed to raise £15 million for the club; 50 million new shares were made available priced at 30p each.It was also revealed that majority shareholder Desmond would buy around £10 million worth of the shares.£10 million of the money raised was for building a new training centre and youth academy, expanding the club's global scouting network and investing in coaching and player development programmes.