Fergus McCann has explained why he couldn’t let Celtic be liquidated.
In the spring of 1994 the bills were piling up for the old board that had led Celtic on the road to ruin with the Taylor Report about to condemn the terraces of Celtic Park to the history books.
On the pitch Lee Martin and Wayne Biggins had failed to lift the side with Tommy Coyne’s goal for Motherwell ending the club’s interest in the Scottish Cup which had kept many a previous season alive.
McCann and others had tried and failed to convince the Kelly and White families that new investment was needed but it was only when they were faced with bankruptcy that they called on McCann to save the day.
“The balance sheet turned out to be negative — insolvent.,” McCann explained in an interview with The Sun. “Other liabilities — even a big tax claim regarding Paul Elliott — had to be met.
“It would’ve cost less, and left the previous owners with nothing, to go into liquidation but it would also be humiliating for Celtic. So we paid all the bills.”
HMRC, Strathclyde Police, newsagents and even face-painters all got their money as a new chapter at Celtic kicked off.
Transforming the ground into a 60,000 seater stadium capable of hosting Champions League nights seemed a pipedream as Rangers under the guidance of Dave Murray swept the boards from the 50,000 capacity Ibrox Stadium with plans in place for a 5,000 bed hotel, conference centre and retractable roof set to turn the Govan venue into a 365-days-a-year money making machine.
Over five years the capacity of Celtic Park was raised to 60,000 and although crowds have now dipped McCann has no regrets about the bold decision that ensured Celtic could generate more matchday income than their city rivals.
Critical to the success of the McCann plan was the support with thousands showing their faith by pouring their money into a share issue in January 1995.
“Although many said that relying on supporters to provide more capital in a share issue was a gamble that wouldn’t succeed, the fans came through with £10million,” the Scots-Canadian explained.
“It was an exciting time, but a daunting responsibility to take on. I was now responsible to 10,000 shareholders as well. When I set a target of 52,000 season tickets, the support understood and responded.
“And it took a few years for success on the field to occur. Celtic Park was built with 60,000 seats for a reason — active supporters who make the commitment to be there to fill it instead of watching TV are the strength of the club.”
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GB THE BUNNET!!
Fergus McCann changed history. Or at least chnaged the route it looked to be taking.
Unlike the other club who liquidated and no longer exist, he stopped the humiliation. This however has never been received well by the powers that run the game in small minded and bigoted Scotland. It was made worse by the liquidation of their establishment club. the club they all put their weight behind and turned blind eys to as they went about their corrupt ways. the ways which ultimately cost them existence.
Sadly for the Scottish game, they put so much effort and attention in that part while the game in Scotland gather momentum as it slid further and further down the slippery slope to where it is today. Astonsihlingly, today, they are still on a witchhunt against Celtic for their team disapperaing into the oblivion they created. they have a target on the back, and front of Neil Lennon and the Celtic fans.
They watched corrupt refs like hugh dallas and dougie macdonald target certain players and positively the club as they did all in their power to make sure we lost whenever possible and whenever they could make a contribution.
To this day Fergus though he saved Celtic and what should have been the game in Scotland, these same idiots are more intent on hiding from their parts in it all, regardless on the consequences. All because we are Celtic. Hail Hail Fergus. You go down in history with Stein and the others.
excellent, well written mate, 100% spot on
YNWA
Fergus you will always be a big part of the Celtic story!
Thank you Fergus, CELTIC and all Celtic Supporters will never forget what you done for our Club. Hail Hail
Face painters? Seriously?
I’ll keep my opinion on fergus to myself my views might upset people.
Hail Hail
Tried booking a room in that big hotel the huns where building next to the Casio at ibrox but can’t seem to get the number anybody got it ? HH
It’s true, the ‘bunnet’ was not everyones cup of tea. Some of the players and even Tommy had their run ins with him. One things for sure though wee Fergus gave us the foundations to take our club into the 21 century and beyond. Look at the standard of person employed by our club Brian Quinn and John Reid post Fergus and the likes of Jock Brown pre Fergus.
He made a few quid fir himself as he said he would do right from the start. Hes not a blowhard and doesn’t seek the limelight but I would love to see him being invited to unfurl the flag on opening day of season.
Thanks Fergus
Hail hail
No one will believe this……… but a big stadium (that someone used to play for) just flew past my hoose with a floating pitch and retractable roof, quickly followed by a fighter jet that has “asbestos bomber” printed on the side ;0)
Sadly I remember Fergus Mccann getting booed by many Celtic fans I think at the unfurling of the league flag.
Those fans who booed McCann have no brain, he SAVED our GREAT CELTIC FOOTBALL CLUB..We can thank McCann for saving our club CELTIC. HAIL HAIL.
Fergus McCann’s legacy in the history of Celtic will always be a rich one!!
wellwritten article massive thank you fergus i have thought that the 9th of march is significant as big jock was appointed on the 9th march 1965 and fergus the 9th march 1994
It was a disgrace that Fegus got booed at the flag unfurling ceremony. If there is to be another statue outside Celtic Park it should be of “the bunnet”. Sure he was abrasive,brash,cheeky,self opinionated,but he was also clever ,bold and had a plan. Just look over at the ruins of “oldco” to see what might have happened had he not came in. He done what need to be done,he wasnt here to be liked he was here to a job ,and he done it. God Bless You Fergus HAIL HAIL
I was there all through the fergus era and he didn’t make it easy for himself with the way he done business but he’s certainly achieved what he set out to do. Love him/hate him, he’s a Celtic man that saved us from the horrific fate of the Huns. All hail fergus and given what we know now this man should be cheered every time he’s even near parkhead.
McCann was booed because of the in fighting with Wim Jansen that saw the coach that stopped 10 in a row for the orcs and brought us the mighty Henrik, quit! McCann rubbed folk up the wrong way cause he took no shit and didn’t pander to anyone esp. superstar players demands. But he was like Ronseal he did exactly what it said on the tin 🙂
Hindsight is a wonderful though and his actions have been more than vindicated! I would happily applaud and cheer him if he was to unfurl the flag next season…
Mon the bunnet
The bunnet total legend, no liquidation 125 years of unbroken history the dream continues. Hail Hail.
Constantly seered at by the sycophantic Svcottish “press”, Fergus is the most important administrator in Celtic’s history ..BAR NONE!…because without Fergus’s input we wouldn’t have a history…thanks Wim! but what ahve you done since?
Fergus made specific promises ..and kept every one!
He was also constantly described as “a CANADIAN” businessman, in an attempt to portray him as some sort of carpetbagger opportunist. He was born and raised in Croy, and attended St. Modan’s High in Stirling, where I also received my education. I never met him at school, but I “kent his faither!” ‘cos he was the headmaster.
The mis-guided fans that booed him that day should hang their heads in shame!
i think you and i were in the same class at st modans liam around ’61
i live in canada masel but ive never met t he bunnet hail hail
God bless Fergus “THE MAN ”
Name the north stand after him right now!
FERGUS McCANN saved Glasgow Celtic and every Celtic fan is proud of how the club is progressing every year. Hail hail to Fergus.
I was one of the bhoys who booed Fergus as a result of seeing the spend over at Govan. Did not realise they were spending money that was not theirs to spend. Well I was wrong about Fergus he saved our club and the shower from Govan are there in name only. They are dead. We are 125 years old. Thank you Fergus.