Lennon: We've cut our cloth and it hurt
After taking over from Tony Mowbray in June 2010 Lennon had to build a team from the sale of Aiden McGeady.
Celtic were scorned for turning to Israel, Honduras and Mexico for new signings and building a strike force around players from Hibs and Scunthorpe.
Across the city Walter Smith was able to splash the cash signing former England striker James Beattie from Stoke City and securing Nikica Jelavic for £4m from Rapid Vienna.
Battling against the odds Celtic finished the season one point behind Rangers as Smith celebrated his send off parading the SPL trophy around Rugby Park flanked by Beattie, Jelavic and other big money signings such as Steve Davis, Maurice Edu and Kyle Lafferty.
The events of the last seven days will never be forgotten with Mr Lennon looking on as intently as any other Celtic fan as the tide turned his way.
By the time Rangers next play, on Sunday away to Inverness, Celtic could be 23 points ahead with Lennon stunned by the pace of recent events.
“My first emotion was disbelief that a club of that stature could fall into administration,” the hoops boss admitted. “You knew it was coming but you never really believe it until it happens. It has been interesting watching the fall out since then.
“People say it is none of my business but I have a vested interest because I am manager of their biggest rival and what is happening at Rangers will have an impact on Scottish football.”
“We’ve cut our cloth accordingly and it hurt. We had to bite the bullet on quite a few occasions and it was the right thing to do.
“Nobody really saw the recession coming. It has bitten in to society in more ways than anyone could imagine, but this club has been prepared, better than any other club in Scotland.
“There have been instances when the board has said: ‘No further, no more money’. Before my time as manager there was an interest in Nikica Jelavic.
“However, the club didn’t want to pay the kind of money that was being asked.
“Even in the window just past we looked at English players and it was a case of ‘too much money’. We’re not prepared to pay above the odds because we don’t want to disturb the wage structure we have here.
“We’ve just thought: ‘Right, we’ll get on with what we’ve got then’. Sometimes you must get players out to get others in but it isn’t always possible. That’s the financial situation in which we work.
“It can be frustrating because you’d always like a bit more quality but I’m really happy with what we’ve got.”
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