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Take-over and turnaround at Celtic: the McCann years 1994 1999

2008; Inderscience Publishers; Volume: 4; Issue: 1 Linguagem: Inglês

10.1504/ijsmm.2008.017658

1740-2808

Tom Donnelly, Martin Donnelly, Tim Donnelly,

Taxation and Compliance Studies

This paper analyses the reasons for the near business failure of Celtic football club from the late 1980s until 1994, when it was saved from going into receivership by the financial intervention of Fergus McCann, a Scots-born Canadian millionaire. It subsequently investigates how McCann turned the club round both on and off the field through a successful share issue and by releasing funding for the purchase of new players. This paper shows how, despite his success, McCann's managerial style can be questioned as he was frequently in conflict with his football managers, the players, the football authorities and Celtic's fans. Nevertheless, McCann did achieve his three main objectives: saving the club, building a new stadium and earning a healthy return on his investment.