Celtic chief executive Michael Nicholson has publicly backed manager Martin O'Neill after what he called a painful week for the club. The statement of support follows three consecutive defeats, including a 1-0 loss to Rangers in the Premiership and a 3-1 home defeat to Ferencvaros in the Europa League group stage opener.
Michael Nicholson said the club will now come together and support Martin O'Neill and the players. He said the focus is on achieving success domestically and in the Europa League. The public backing comes after a difficult period that also saw Celtic miss out on Champions League qualification, squandering a 4-0 aggregate lead against LASK in the play-off round.
Financial results published for the year ending June 30 showed the impact of that European exit. Revenue fell by nearly £33 million to £111 million, down from £143.6 million the previous year. The club recorded a post-tax loss of £4.8 million, a sharp reversal from the £33.9 million profit made a year earlier. Despite the drop, Celtic ended the financial year with £66.4 million in the bank.
On the pitch, the team currently sits first in the standings with 18 points from seven games, holding a two-point lead over Rangers. Their recent form, however, has seen them lose three matches in a row, conceding a total of 5 goals in that period. Their most recent result was a 1-0 home defeat to their city rivals on September 20.
Martin O'Neill, 74, had suggested after the Ferencvaros defeat that it might be time to wrap it up. The manager's comments added to the sense of pressure before Nicholson's intervention. The club spent £31.7 million on transfers in the last year, bringing in players including Kasper Hogh, Camilo Duran, Mika Baur, and Haïssem Hassan, who are all listed in the current squad. Key sales included Kyogo Furuhashi to Rennes for £10 million and Nicolas Kuhn to Como for £16.5 million.
Celtic's next match is away to Motherwell on October 11. The manager will be without the injured Jota, while top scorer Camilo Duran has three goals this season.
Read the full report at BBC Sport Football
On September 24, chief executive Michael Nicholson issued a statement to the London Stock Exchange. Nicholson apologised for the club's failure to reach the Champions League. He said the club was "sorry not to have achieved it." The chief executive also stated that money in the bank had fallen to £66.4 million from £77.3 million. Nicholson admitted the club had made mistakes in the 2025/26 season. He promised to address and learn from those challenges. The statement came as Celtic, who are first in the Premiership with 18 points, have lost their last three matches.
