Celtic in no rush to decide on Lennon
say they will not rush into a decision over the future of Neil Lennon as the club finally released the findings of their long-awaited review of the underachieving first-team coaching staff.
Club chairman Ian Bankier addressed supporters in a lengthy statement on the same day the Parkhead side posted a £5.9 million loss in their sixmonth financial results.
In the statement, Bankier mentioned the uncertainty of the coronavirus pandemic and its impact of the club on several occasions, while saying the board will take their time to make the right decisions for the future and not bow to “instant” media criticism.
Fans have been furious with the inactivity of the board with regards to the managerial position. The vast majority of supporters want Lennon removed from his position of manager after watching their ten-in-a-row dreams collapse in startling fashion.
Rivals Rangers are just five wins away from winning their first title in ten years, while Celtic’s stranglehold on Scotland’s cup competitions also came to an end with defeat in the League Cup to Ross County.
A review was initially promised for January in reaction to supporter protest sin the early days of December. Fans then became increasingly frustratceltic ed when January came and went without a review being made public.
The statement on the Celtic website read: “We have released our half year trading statement to The Stock Exchange. I want on this occasion to make a separate statement to address various issues raised by supporter shareholders, season ticket holders and the wider body of Celtic fans.
“In recent weeks, the club has been the subject of widespread comment mostly concerning, but not limited to, the team’s performance. I have received correspondence from fans expressing their anxiety and seeking information.
“These messages and feelings are not being ignored and I accept with due humility what has been said. The frustration that is expressed is clear and unambiguous. It is shared throughout the whole club. That includes, the directors, our football management team, staff and the players.
“Across all media platforms, we have been asked to communicate our reaction to events on and off the park and to reveal our decisions and intentions. It is worth saying that over the period in question, the football manager has addressed each and every game we have played.
“The club has made announcements dealing with speculation over the manager’s tenure, the Covid outbreak
Celtic revealed a pre-tax loss of almost £6million and a decrease in revenue of almost 24 per cent in the club's halfyear financial report.
Chairman Ian Bankier described keeping Neil Lennon's squad intact in a bid to win a 10th successive Scottish Premiership title and the adverse impact of Covid-19 as "two key factors" in the Parkhead outfit's interim report for the six months to December 31, 2020.
The report showed revenues of £40.7million (down from £53.3m in 2019) and a loss before taxation of £5.9m where there had been a profit of £24.4m in 2019.
The loss from trading, representing the loss excluding player related gains and charges, amounted to £0.3m (profit of £7.1m in 2019) and period end net cash at bank was £19.7m (£32.9m in 2019).
In a statement on the club's official website, Bankier said: "Season 2020/21 started with further significant investment into our playing squad as we prepared for the season ahead, commencing with the Champions League qualification fixtures, featuring challenging single-leg knockout ties as a result of the restricted football environment.
"We acquired the registrations of Albian Ajeti, Vasilis Barkas and David Turnbull, retained Mohamed Elyounoussi on loan and brought in experienced internationals Shane Duffy and Diego Laxalt on loan.
"We also retained key players who had contributed so much to the team in previous seasons.
"At the time of writing we currently sit second in the league 18 points behind the leaders, having played one game less and with 10 games remaining.
"The prolonged summer transfer window, the impact of Covid-19 and, crucially, the loss of our passionate support at matches have undoubtedly had a damaging effect on our performance levels in domestic and European competitions, but we recognise that our performance has not been good enough.
"The two key factors that adversely affected our financial results for the period under review were: firstly, reduced gains from player trading as we sought to keep intact our squad this season; and, secondly, the unforeseen and prolonged value destructive impact of Covid-19.
"Our strategy for season 2020/21 was to invest in the team and to retain our best players, with the objective of delivering the league championship.
"As a result, gains from player trading were minimal. The effects of Covid-19 have persisted longer than many could have envisaged and, as a result, our crucial match day and other income streams derived from our stadium have been reduced to negligible proportions.
"These two factors largely explain the reduction in our profit before tax. No football club is immune from the effects of Covid-19."
The statement continued: "Looking forward, the football and financial environment is still volatile and very uncertain because of the ongoing effects of Covid-19.
"It is unclear when the 2020/21 Scottish Cup will recommence following its suspension.”