Celtic’s chairman mentioned a evaluation of supervisor Neil Lennon’s place was ongoing because the Glasgow giants on Monday revealed the monetary value of taking part in behind closed doorways resulting from coronavirus restrictions.
The Scottish champions revealed a 24 % fall in income for the six months to December 31 from £53.3 million ($74 million) to £40.7 million.
That resulted in a pre-tax lack of virtually £6 million as, in contrast to in earlier years, Celtic didn’t promote considered one of their prized property within the switch market final summer time.
The Hoops hierarchy had prioritised attempting to win a document tenth consecutive league title, however that plan has backfired with Lennon’s males 18 factors adrift of Rangers on the prime.
“The 2 key elements that adversely affected our monetary outcomes for the interval below evaluation had been: firstly, decreased positive factors from participant buying and selling as we sought to maintain intact our squad this season; and, secondly, the unexpected and extended worth harmful influence of Covid-19,” chairman Ian Bankier mentioned.
“Our technique for season 2020/21 was to put money into the workforce and to retain our greatest gamers, with the target of delivering the league championship.”
Strain from supporters has been mounting on the Celtic board to sack Lennon as there was little enchancment in performances since a evaluation into his efficiency was publicly introduced in early December.
Nonetheless, Bankier defended the choice to not act extra swiftly to save lots of Celtic’s season.
“I have to state clearly that every one choices we take might be taken calmly and rationally. We is not going to make hasty choices that we would remorse,” he mentioned in a letter to supporters.
Celtic nonetheless have a recreation in hand on Rangers and face their native rivals twice extra this season to attempt to reduce the hole.
Nonetheless, Steven Gerrard’s males haven’t misplaced a league recreation all season and must win simply 4 of their remaining 9 matches to say a long-awaited title.