Michael Nicholson has publicly thrown his weight behind Martin O’Neill, using a rare address alongside Celtic’s annual financial results to apologise for another Champions League qualifying failure and vow the club will learn from a turbulent 2025/26.
The chief executive’s statement, issued to the London Stock Exchange, made clear where the board stands on O’Neill’s position after a difficult period on and off the pitch. As Daily Record reported, Nicholson said the club would come together and support Martin and the players as attention turns to domestic success and the Europa League.
It’s the kind of statement Celtic supporters have grown used to reading between the lines of, and this one leaves little room for ambiguity about the board’s current stance.
A Season of Turmoil, Then a Double
Context matters here. Celtic won the Scottish Premiership on the final day of last season, then added the Scottish Cup and the Women’s Scottish Cup in the weeks that followed – a finish that will live long in the memory regardless of how choppy the waters were to get there.
Nicholson acknowledged as much, noting the environment had been unstable following Brendan Rodgers’ resignation and the club’s decision to move on from Wilfried Nancy. O’Neill’s return to the dugout, twice in the space of a season, was framed by the CEO as central to steadying that ship. The club says it worked with O’Neill over the summer transfer window to invest in the squad, and were delighted when he agreed to lead the club again this season.
The Numbers Behind the Words
The backing arrived alongside financial figures that explain some of the urgency. Celtic reported a post-tax loss of £4.8million for the period to June 2026, with cash in the bank falling from £77.3m to £66.4m. Revenue dropped from £143.6m to £111.0m, a decline Nicholson attributed directly to the club’s failure to secure Champions League qualification.
That’s the sharp end of what happens when European football goes wrong two seasons running. Nicholson admitted Celtic had made mistakes across 2025/26 and promised to address and learn from the challenges faced – an admission that will carry weight given the scrutiny the recruitment strategy has come under from supporters.
What Nicholson Actually Said
Reaching the league phase of the Champions League is an objective for us all, and we are sorry not to have achieved it, Nicholson said in his statement. On top of that, he added, the losses in the last week have been painful for us all, before stressing: 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.
Where Celtic Go From Here
There’s no formal guarantee attached to any of this – it’s a statement of intent rather than a contract extension. But with boardroom changes already underway and the summer window’s investment still to prove its worth, Nicholson has made his position on O’Neill about as clear as these things get. Mon The Hoops.