The new two-part documentary will go deeply into Celtic FC’s history in the 1990s, telling the tale of how supporters and a certain Canadian financier, Fergus McCann, prevented the Glasgow footbThe special interview with David Low, an investment analyst who proposed the idea of attempting to “buy out” the Celtic board in the early 1990s, can be found in the episode, which will be accessible on iPlayer starting on Friday team from going out of business.
The tale of how Canadian businessman Fergus McCann prevented Celtic FC from going out of business before the takeover’s 30th anniversary next year is told in a brand-new two-part documentary short.
The first segment, which airs this Friday on BBC Scotland’s A View From The Terrace, delves into the circumstances surrounding McCann’s well-known 1994 takeover.
Low acted as a broker to close the deal and was present in the room as the 24-hour deadline was approaching. Low personally approached and pitched the idea to McCann. He still keeps in touch with Fergus McCann as a friend.
I
n an examination of the club’s comeback from what was arguably its worst time in history, Matt McGlone, the creator of the Celts For Change movement, is also interviewed.
McGlone, who started Celts For Change at the time when the team was in danger of going bankrupt, described the situation as follows: “I put an advertisement in the newspaper and I said ‘if you care about the welfare of your club, turn up at the City Halls tomorrow night,’ and that’s when Celts For Change was born.”
We knew that things needed to change for the club to be saved. With no money, the only resource available to us was our fandom.
“Yet the supporters possess
ed the will, determination, and spirit to prevail and keep the team from going bankrupt.”
In the documentary, Low talked about his involvement in the arrangement, saying, “I had two passions in life: music and Celtic culture.”
“Money entered the game for the first time in the 1980s. That wasn’t there for Celtic.
Finding companies that were a good fit for investments was my responsibility as an investment manager. I was told that Fergus McCann, a Canadian fan of the Celtics, is a somewhat quirky but extremely driven man, and I ought to go meet him.
“During this entire time, Fergus McCann was the only person I met with a plan, and the fans vowed to support this plan.”
Low described the tense negotiation he mediated with McCann as “a game of poker going on here.” They are aware that the game is over and that money is now all that matters. The deal is completed once a price is agreed upon.
“I always recall Fergus saying to Michael Kelly, ‘Goodbye Mr. Kelly, I hope I never meet you again,'” as they were leaving.
The football world was evolving in the late 1980s; with the introduction of Sky Sports in 1989 and the Champions League in 1992, football was growing in popularity both on and off the pitch.
Cross-city rivals Celtic were losing ground while Rangers, led by prominent managers Graeme Souness and chairman David Murray, flourished and grew to become one of the biggest and wealthiest clubs in the UK.
The infamous term “biscuit tin board” was coined because of the Ibrox team’s lack of investment in a crumbling stadium and failing squad.
The Kelly and White families had owned Celtic privately for nearly a century, leading some supporters to claim that the ownership structure was preventing the club from progressing. This was made worse by mishandled hirings of managers, like trophy-less former Ireland international Liam Brady, who drove the Parkhead club to the brink of its £5 million overdraft.
Some Celtic supporters believed that the club’s ownership structure was impeding their progress because the Kelly and White families had privately owned the team for almost a century. Mishandled manager hirings, such as trophy-less former Ireland international Liam Brady, worsened this, pushing the Parkhead club to the verge of a £5 million overdraft.
Supporters organised boycotts of home games and staged protests. After being removed from the Celtic board, Brian Dempsey took on a leadership role in the campaign.
The catchphrase was “Back the Team, Sack the Board.” Less than 9,000 Celtic supporters showed up for the home game against Kilmarnock on March 2, 1994—a record low for a team of the 1967 European Cup winners’ caliber—which is considered the most famous boycott.
This figure was noteworthy because it was less than the club’s estimated break-even point, which was crucial because they couldn’t afford to lose any more money.
The Bank of Scotland had had enough by the end of March 1994. Celtic was given a 24-hour window to secure the necessary funding or face permanent closure.
Let’s meet Fergus McCann, a Canadian expat. The board had shown little interest in McCann’s prior attempt to invest in Celtic.
The board reached out to him again, desperate. Amidst a flurry of publicity, McCann arrived at Glasgow Airport “wearing a bunnet.”
He fought his way past the media and fans to get to Celtic Park, where he and his group holed up with the club’s board to try to work out a deal.
The future of Celtic hung in the balance as the clock ticked into the early hours and supporters anxiously awaited any news outside the stadium.
“It’s always fascinating to look back at the history of football clubs and find the stories that shaped them, especially when fans are at the heart of their club’s future. We thought it was an incredible story of how basically a group of devoted fans refused to let their club go under,” stated Jordan Laird, executive producer of A View From the Terrace and co-founder of Studio Something.
Speaking with Matt McGlone really made us appreciate the power of fans; their pressure was what turned the club around, and considering how big they are now, it’s almost unimaginable what might have happened to them. This goes to show how influential fans can be, regardless of the size of the club.
As supporters, we must never forget that we own our clubs and that we are willing to do whatever it takes to ensure their continued existence.
For twenty weeks, A View From The Terrace will air on Friday nights on the BBC Scotland channel.
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