Celtic Report £4.8m Loss as Nicholson Urges Unity Behind O’Neill
Celtic have reported a financial loss for the year to June 2026, after missing out on Champions League football hit revenue hard. Chief executive Michael Nicholson used the club’s annual results to publicly back manager Martin O’Neill, calling on supporters to stand behind him and the squad. The Michael Nicholson Martin O’Neill Celtic message, delivered alongside the results filed with the London Stock Exchange, lands at a difficult moment following recent defeats.
“We all want the best for Celtic,” Nicholson said, setting the tone for a review that mixed praise for last season’s success with a frank account of the challenges since.
“We were delighted to end season 2025/26 on a high, winning the Scottish Premiership on the final day of the season and adding the Scottish Cup and Women’s Scottish Cup in the weeks following, but last season was a challenging one for the Club, both on and off the pitch.”
Stock Exchange Statements Detail Financial Impact and European Apology
Celtic’s revenue fell from £143.6million to £111.0million over the period, a drop the annual report ties directly to the club’s failure to reach the UEFA Champions League play-off phase. Cash reserves also dropped, from £77.3million to £66.4million, as the financial hit from missing out on Europe’s top club competition took hold.
Nicholson addressed the European exit directly in his statement to shareholders. “Having started well in the Premiership this season, we experienced disappointment in the UEFA Champions League play-off,” he said. “Reaching the league phase of the Champions League is an objective for us all, and we are sorry not to have achieved it.”
He also acknowledged wider disruption behind the scenes. “Following a period of stability, which has borne fruit in terms of success and growth over recent years, we experienced turmoil which affected the Club’s performance. We will address and learn from the challenges faced and mistakes made.”
Squad Stability Tested as O’Neill Weighs Future After Recent Defeats
Nicholson linked that turmoil to last season’s managerial changes. “I thank Callum McGregor and all of the players and staff for their hard work and determination throughout the season that made the success possible,” he said. “As the Chairman has noted, the environment was unstable, following Brendan Rodgers’ resignation and our decision to move on from Wilfried Nancy.”
He was warmer still on O’Neill’s return. “We owe a debt of gratitude to Martin O’Neill and his management team, who stepped up for Celtic, twice, and who guided the team to success,” Nicholson said. “We were therefore delighted that Martin agreed to lead the Club again this season and we have worked with Martin and his team over the summer transfer window to invest in the squad.”
That Michael Nicholson Martin O’Neill Celtic backing comes despite O’Neill’s own admission that he is weighing up his future after a run of damaging defeats. The manager’s position has faced growing scrutiny surrounding Celtic’s recent form, and Nicholson did not shy away from the recent results. “On top of that, the losses in the last week have been painful for us all,” he said. “We will now come together and support Martin and the players, as we focus our efforts on achieving success domestically and in the Europa League.”
Europa League Focus and Upcoming Fixtures Form Immediate Priority
Celtic’s immediate attention now turns to the Europa League and the Scottish Premiership, the two competitions Nicholson identified as the club’s focus for the rest of the season. O’Neill has already made tactical changes against Ferencvaros as he looks to steady results on the pitch.
Interim chairman Brian Wilson also issued a statement alongside Nicholson’s as part of the annual report to the London Stock Exchange. Full detail on the figures and the board’s comments is available in the Daily Record report on Celtic’s financial statements.
