Michael Nicholson indicates Martin O’Neill is set to remain in charge of Celtic

Celtic manager Martin O'Neill (right) and Rangers manager Derek McInnes. Pic: Andrew Milligan/PA Wire.

Chief executive Michael Nicholson has given an indication that Martin O’Neill is set to remain in charge of Celtic after vowing to “support” the embattled manager.

The 74-year-old Irishman cast doubt on his own future when he spoke about entering a period of self-reflection after the Hoops’ meek 1-0 defeat at home to Rangers in the William Hill Premiership on Sunday.

Following a third consecutive loss in eight days, and just a few weeks after the Champions League play-off collapse against LASK, a beleaguered O’Neill said “I genuinely will reflect and see” before joking “I’ll be 110 in two years’ time so it might be time to wrap it up.” 

With pressure also building from a frustrated fanbase, there was an expectation in many quarters that the veteran manager, who recently spent time in hospital for a minor health procedure, may decide that the current three-week international break represents an obvious window for him to step aside.

But as Celtic released their annual accounts on Tuesday night showing a loss of £4.8million for the year ending June 30, 2026, the accompanying chief executive’s review from Nicholson suggested that O’Neill is set to stay put.

“Having started well in the Premiership this season, we experienced disappointment in the UEFA Champions League play-off,” it read. “Reaching the league phase of the Champions League is an objective for us all, and we are sorry not to have achieved it.

“On top of that, the losses in the last week have been painful for us all. 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.” In addition to a post-tax loss of £4.8m, compared to a profit of £33.9m the previous year, Celtic’s revenue was down 22.7 per cent to £111m from £143.6m in 2025.

This downturn in revenue was attributed, in chairman Brian Wilson’s statement, primarily to “dropping into the Europa League as compared to the Champions League in the prior year. 

As well as directly impacting UEFA distributions, this also had a knock-on effect on other parts of the club including ticketing income and retail.” 

The loss, according to Wilson, was “driven by a combination of revenue decline, an increase in operating expenses primarily through wages and salaries, a reduction in gains from player trading to £16m (2025: £31.5m) and an increase in amortisation.”