Authors: Tom Donnelly, Martin Donnelly, Tim Donnelly
Addresses: Coventry University, Priory Street, Coventry CV1 5FB, UK. ' Coventry University, Priory Street, Coventry CV1 5FB, UK. ' Coventry University, Priory Street, Coventry CV1 5FB, UK
Abstract: 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.
Keywords: business decline; takeover; turnaround; shareholding; management style; Celtic Football Club; Fergus McCann; share issue; player funds; return on investment; ROI; new stadium; soccer.
International Journal of Sport Management and Marketing, 2008 Vol.4 No.1, pp.49 - 61
Published online: 26 Mar 2008 *Full-text access for editors Access for subscribers Purchase this article Comment on this article