Celtic back Martin O'Neill as annual results show £4.8m loss

Celtic chief executive Michael Nicholson has publicly backed Martin O'Neill after the manager raised doubts about his future following three successive defeats. BBC Sport reported that Nicholson's message of support accompanied the club's annual financial results on Tuesday, with Celtic seeking a response to setbacks in both domestic and European competition.

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O'Neill had indicated he would reflect on his position during the international break after a home Europa League defeat by Ferencvaros was sandwiched between two losses to Rangers. The most recent was Sunday's 1-0 defeat at Celtic Park. The 74-year-old subsequently suggested that he might be approaching the end of his time in charge, according to the BBC.

Nicholson acknowledged the disappointment of the past week and said the club would support the manager and players as they pursued domestic success and progress in the Europa League. His statement also apologised for the failure to reach the Champions League's league phase, identifying qualification for that competition as a shared objective for Celtic.

The accounts for the year ending June 30, 2026, published through a regulatory announcement, showed revenue falling 22.7% to £111.0m from £143.6m. Celtic recorded an after-tax loss of £4.8m, compared with a £33.9m profit a year earlier. The club attributed the revenue decline primarily to playing in the Europa League instead of the Champions League, with consequences for UEFA distributions, ticket sales and retail income.

Operating expenses increased to £122.1m from £117.1m, while gains from player sales fell to £16.0m from £31.5m. Cash at the year-end stood at £66.4m, down from £77.3m. Those figures cover a season in which Celtic won the Scottish Premiership and Scottish Cup, achievements acknowledged in the announcement despite the club's financial deterioration and managerial changes during the reporting period.

The current campaign has brought another Champions League qualifying exit. BBC Sport reported that Celtic surrendered a 4-0 aggregate advantage against LASK in last month's play-off. Nicholson's latest intervention sets out the club's backing for O'Neill, whose two spells as manager have delivered nine trophies.