A CLUB DIVIDED

Billy McNeill's return to Celtic was marked by a major overhaul
of the squad. Billy Stark, Andy Walker and Chris Morris joined
Mick McCarthy, who had been signed by Hay just before he was
sacked.

Pre-season omens for the 1987-88 season did not appear good,
but it was to be a golden year for Celtic, going 31 games unbeaten
and clinching the double in the club's centenary year.

A Scottish Cup final win over Rangers the following season could
not disguise the feeling of anti-climax as Celtic finished third
in the league and suffered a 5-1 drubbing from their Old Firm
rivals in the process.

It was the beginning of a difficult period for the club. Despite
more new signings, including Mike Galloway, Paul Elliott and
Dariuz Dziekanowski, winning trophies seemed to be a lost skill
for the Celts. McNeill continued in charge until 1991 when another
barren season cost him his job.

His successor Liam Brady had two turbulent two years in charge
, suffering humiliating defeats at the hands of Airdrie in the
1991 League Cup and Neuchatel Xamax of Switzerland in the UEFA
Cup two months later.

At the same time Celtic was being attacked by supporters' groups
, angry at the running of the club by the 'family dynasty' in
the boardroom and the club's slowness to react to the Taylor
Report of 1990 that demanded all-seater stadiums by the start
of the 1994-95 season.

The board itself was divided. Brian Dempsey, appointed to the
board in 1990, alongside Michael Kelly, proposed a new complex
for the club in the Robroyston district of Glasgow, but he was
opposed by Kelly and Chris White, the largest shareholder in
the club.

Forced off the board, Dempsey was to prove a thorn in the club
's side, culminating in a takeover bid in 1992 which split the
board. The same year the club announced plans for another new
ground, this time at Cambuslang, to be completed by 1994. Yet
two years later work still had not been started and it became
apparent that the club was in severe financial trouble.

The fans' anger at events off and on the field continued, with
"Sack the Board" a constant chant on the terraces, especially
after it had turned down an indemnity group, led by businessman
Fergus McCann, offering to invest ￡13.8m in the club in return
for new shares. Brady resigned in October 1993 as Celtic continued
to struggle and his replacement Lou Macari quickly alienated
many of the players with his heavy-handed approach.

The club's woeful situation came to a head when the Bank of Scotland
informed the club they had exceeded their ￡5m overdraft and
it was ready to call in the receivers on Thursday 3rd March
1994.

The board finally agreed to sell the club to Fergus McCann, and
he took control eight minutes before the club was declared bankrupt
.



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