GLASGOW, SCOTLAND - SEPTEMBER 13: Celtic manager Martin O'Neill (L) during a Premier Sports Cup Quarter-Final match between Rangers and Celtic at Ibrox Stadium, on September 13, 2026, in Glasgow, Scotland. (Photo by Craig Williamson/SNS Group via Getty Images)
Charlie Mulgrew has raised the rarely mentioned issue of Martin O’Neill’s finances.
The Celtic boss is believed to be undergoing a period of self reflection after questioning himself following the 1-0 defeat in the September 20 Glasgow Derby.
Nothing has been heard from O’Neill since, it hasn’t been made public whether or not he is back at Lennoxtown preparing for a testing run of fixtures.
Twice last season O’Neill answered an SOS from Celtic, returning to club management with just 19 matches at Nottingham Forrest on his CV over the previous 12 years.
Celtic’s double success seemed like the perfect finale to O’Neill time in management. At the age of 74 it seemed that there was nothing more that he could do in management.
Somewhat surprisingly O’Neill agreed to take on the Celtic job on a permanent basis. Accepting a one year contract with the option of a further 12 months.
There is a huge difference in expectations between being interim and permanent manager.
THE MARTIN O’NEILL DILEMMA
O’Neill overseen a summer transfer window that failed to address the main areas of concern at Celtic.
There is a decent argument to be made that Celtic emerged from the transfer window weaker on the park than before.
After a promising start to the season Celtic appear to have been blown off course by the Champions League exit from LASK.
A few wins in the SPFL only masked the issues. Celtic went into the international break of the back of three demoralising defeats.
O’Neill’s self reflection continues, supporters are left in the dark with Mulgrew speculating on the motivations of the 74-year-old Irishman.
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A lot of Celtic fans that I am meeting are saying that Martin O’Neill should have just rode off into the sunset after Celtic won the double. My take on that is, that’s fair enough, but my opinion is Martin O’Neill would have liked to have done that – like we all would – but his reward would have been a contract. A two year contract, worth X amount.
If he just walks away and says ‘thanks’, I don’t think he is getting a penny – or he is getting very little – compared to what he is due now. If they got rid of him now it would be close to £1million he is owed, I would imagine.
I think the standoff now is Martin O’Neill still thinks he can do the job, and I don’t think Martin O’Neill is leaving with no money. I don’t think Celtic want to pay him. Things aren’t a disaster right now, he has only lost three games – three big games, and that is a disaster at Celtic sometimes – but if you actually take a step back he is still top of the league.
There is a still a lot that can be done this season. If there is one man that can do it. So my point is, I think he would have liked to have done that [left in the summer], but how do you knock back that contract and that money regardless of what age you are?
From 1995 t Leicester through to 2013 at Sunderland O’Neill was almost constantly involved in top level management. For much of that time he could have been among the Top 10 earning managers in the UK.
With that in mind you’d expect a 74-year-old to step down from a high pressure job where the ‘new manager bounce’ has clearly ran dry.
Like many figures from that era O’Neill has been named as being caught up in tax investments that have left former players such as Duncan Ferguson, Craig Bellamy and Danny Murphy.
Tax and finances are clearly private matters but in October 2016 the Daily Record highlighted how the ‘Film Investments’ had impacted Scottish football:
Celtic chief Peter Lawwell, manager Neil Lennon and other former Parkhead stars were also members. The case at the Upper Tribunal was heard for over three weeks this spring. In 2016 a Daily Record investigation revealed the Hoops chief executive, along with several former players and managers, invested in a number of controversial film partnerships set up by the London firm.
HMRC branded the Limited Liability Partnership (LLP) schemes as sophisticated tax avoidance. Investment in the LLPs was promoted by members of the Ingenious Media Group 25 (Ingenious) to individual high- net worth investors. HMRC issued multi-million-pound bills to hundreds of Ingenious clients after winning an initial tax tribunal victory in 2016.
While some settled bills, others have held out to await the final outcome. Ingenious will be allowed to appeal the decision, but those who joined the scheme and have not settled with the taxman will face huge bills and interest and penalties if the appeal fails. Companies House records show Lawwell and former manager Martin O’Neill became members of Ingenious’s Inside Track 3 LLP in 2004. Lennon was a member of Ingenious Film Partners 2 LLP between 2006 and 2011.
It is usually assumed that those in football, certainly with O’Neill’s experience are well off, financially independent.
Eleven months ago Brendan Rodgers became one of that rare breed of managers to resign.
It remains to be seen if O’Neill would take the same course. If not the October fixture list starting with trips to Motherwell and Benfica will be telling for Celtic’s season and O’Neill’s future.
I think many/most [?] supporters fully expected MON to resign the day after that last derby loss?
His recall to Celtic last season – twice – were unexpected paydays for him.
With pay and bonuses, he must have earned a very conservative c.£1M last season?
£1M he certainly didn’t expect was coming his way, this time last year?
He should have walked away by now: if not for his bank balance, then for his health?
The fact he hasn’t resigned, does suggest he’s hanging in there for that final pay-off as well? 🙁
Anyone out there who wouldn’t hang out for a pay off of that magnitude????
Didn’t think so.
He’s only doing what every single manager does now, get sacked to get paid or a financial agreement to leave.
I have no issues with MON doing what the rest do.
Personally, I think they should pay him it as a bonus for the miracle he performed last season, doubt anyone would have complained, but here we are….just like Sevco, couple of bad results and its an apocalypse..
If MON stays I’m behind him, if he leaves…good luck to him.
Martin should of walked after the champions league disaster…now we’re in a right mess.
He should’ve walked at the end of the the season in full glory…
That he stayed on and is top he should have gone out at the top on Saturday…
Otherwise his legacy is gonna get shot to f*ck with that lot !