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Fergus McCann
Fergus McCann
Fergus McCann
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Fergus John McCann CBE (born 26 February 1941) is a Scottish–Canadian businessman. He is best known for his time as chief executive of Scottish football club Celtic F.C., where he owned a controlling stake for five years from 1994.

Key Information

Biography

[edit]

McCann's wealth stemmed initially from a golf vacation company, based in Montreal and Phoenix. He is known for his involvement in Celtic F.C., the football club based in Glasgow. In 1972, he obtained the satellite television rights to broadcast the Celtic v Internazionale 1971–72 European Cup semi-final in 1972 in Toronto.

In 1994 he acquired a 51% controlling stake in the Celtic Football and Athletic Company Ltd for £9.5m, after it became clear that the club was facing bankruptcy.[1] Acting as a guarantor for the club's £7 million debt, he injected additional finance, floated the club on the London Stock Exchange as a public limited company, Celtic plc, to raise capital from a share issue, and oversaw a rebuilding of Celtic Park. He raised £14m in a share issue, and that contributed to funding the rebuilding work of the team and the stadium. By the end, Celtic had 53,000 season ticket holders.[2]

McCann's perceived abrasive manner, coupled with his preoccupation with building a sustainable infrastructure for the club off the field rather than a title-winning one on it, prompted sustained criticism during much of his tenure.[3][4] Although credited with rescuing the club from imminent bankruptcy, McCann stated at the outset that he would stay for only five years, with the objectives of placing the club on a firmer business footing and returning the league championship to Celtic Park. The latter goal was met in 1998, halting Glasgow rivals Rangers in their quest for a record-breaking ten consecutive league titles.

In 1999, McCann sold his shares, leaving Irish entrepreneur Dermot Desmond as the largest shareholder, with a 19.8% holding. As his successors, McCann appointed Allan MacDonald as chief executive and Frank O'Callaghan as chairman.[5] McCann offered an interest-free payment plan to encourage individuals, rather than financial institutions, to purchase shares. The result was that small shareholders – mainly supporters of the club – owned 63% of the stock at the time of McCann's departure.[6] McCann personally profited in a significant way from the sale of the bulk of his shareholding. Since leaving Glasgow in 1999 he has maintained his routine of purchasing four season tickets every year.[2]

McCann's role in wresting control of Celtic from its unpopular long-time owners and averting the threat of bankruptcy, as well as his subsequent record in developing the club, prompted a reappraisal of his tenure. Some years after leaving Celtic, he came to enjoy popularity among many or most Celtic supporters that was often absent during his time as the club's chairman.[citation needed]

McCann returned to North America where he founded LimoLiner, a company running luxury bus services between Boston and New York City.[7][8] He retired from his role in the company in 2014.

See also

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References

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Fergus McCann

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from Grokipedia
Fergus McCann (born 26 February 1941) is a Scottish-born Canadian businessman best known for leading the 1994 takeover that rescued Celtic Football Club from imminent bankruptcy and transformed it into a modern, financially stable institution. Born in Croy, , , McCann grew up as a lifelong of Celtic, often traveling on local fans' buses to matches. He emigrated to , where he worked for the electronics firm Marconi and built a successful fortune in the property and leisure sectors, particularly developing and holiday resorts. His , characterized by a logical and rational approach to investments, earned him a reputation as a shrewd entrepreneur, though he maintained strong ties to his Scottish roots and Celtic fandom. By the early 1990s, Celtic faced crippling debts exceeding £5 million and was on the verge of , with administrators warning of potential winding-up proceedings. On 4 March 1994, McCann, wearing his trademark that earned him the "The Bunnet," arrived from and invested £9.4 million through a to acquire a 51% controlling stake, averting collapse with just minutes to spare. As chief executive and managing director from March 1994 to April 1999, he implemented a five-year plan that converted the club into a (PLC), launched the most successful share issue in British football history—raising £14 million from over 10,000 fans—and redeveloped into the United Kingdom's largest club stadium with a capacity exceeding 60,000 by 1998. Under his leadership, the club stabilized its finances, enhanced its commercial operations, and ended Rangers' nine-in-a-row dominance by winning the Scottish Premier Division title in 1998 under manager . McCann also donated £1.5 million to establish a youth academy and revitalized the club's charitable foundation, leaving Celtic in a healthy financial position upon selling his shares in 1999 for a profit. His tenure, initially met with fan skepticism, is now hailed as foundational to Celtic's modern success, with McCann returning to for anniversary celebrations in 2014 and 2019.

Early life

Birth and upbringing

Fergus McCann was born on 26 February 1941 in Croy, a small village in , . He was the son of Allen McCann, a headmaster at St Modan's High School in nearby . Croy, a former mining community, faced economic challenges as the coal industry declined in the 1940s and 1950s, contributing to a backdrop of limited opportunities and rationing that persisted until 1954. He received his primary education in local schools in Croy before attending St Modan's High School, where his father served as headmaster. These experiences, combined with the era's socioeconomic pressures, guided his initial career aspirations toward seeking stability and opportunity beyond the village's declining prospects. From a young age, McCann developed a profound passion for Celtic Football Club, becoming a lifelong supporter. He was an active member of the Croy Celtic Supporters' Club, serving as its social convener, and regularly attended matches at , often traveling on local supporters' buses with fellow fans. This early involvement instilled a deep emotional connection to the club, rooted in the communal spirit of his upbringing.

Emigration and education

In the mid-1960s, Fergus McCann emigrated from to , , at approximately age 24, driven by the pursuit of improved economic prospects amid widespread and in during that era. As a recent immigrant, McCann navigated the challenges of settling in , gradually integrating into society through employment opportunities that laid the foundation for his future business endeavors. By 1967, he was employed at the electronics firm Marconi in , where he maintained his lifelong connection to Celtic Football Club even while attending work meetings. Over time, McCann established deep roots in , achieving and ultimately obtaining , which solidified his dual .

Business career

Early ventures in Canada

Upon arriving in in the mid-1960s after emigrating from , Fergus McCann established his initial business endeavors in the by founding the World Golf Group, a tour company specializing in vacations that became the foundation of his early entrepreneurial success. A notable early venture came in 1972, when McCann leveraged his passion for Celtic Football Club to secure the rights for broadcasting the club's European Cup semi-final against Internazionale in , capitalizing on the strong expatriate Scottish and Irish communities in the area. However, the broadcast signal failed, resulting in significant financial setbacks as customers demanded refunds, forcing McCann to navigate the crisis through meticulous financial recovery efforts. Over the subsequent two years, McCann demonstrated characteristic by forgoing personal expenditures, such as purchasing new clothes, while working diligently to raise funds and repay suppliers, thereby preserving his credibility and building essential capital for future enterprises in retail and services sectors in . These experiences amid the competitive Canadian market and broader economic pressures of the early 1970s honed his approach to small-scale , emphasizing resilience and efficient .

Expansion into leisure and transport

In the , McCann founded and expanded a tour company with operations in , , and , specializing in vacation packages for affluent American clients seeking high-end experiences abroad. The centered on curated package deals that integrated international travel, luxury accommodations, and access to premier courses, particularly tours to and other destinations, which proved immensely successful and generated multimillion-dollar revenues by catering to a of travelers. McCann eventually sold the company to ADT, a larger firm, realizing substantial profits that formed the foundation of his pre-Celtic wealth. Following his departure from Celtic Football Club in 1999, McCann returned to North America and founded LimoLiner in 2003, establishing a premium bus service operating between and to provide a comfortable alternative to air or rail travel for business and leisure passengers. The service emphasized reliability through scheduled departures and onboard innovations such as spacious leather seating, complimentary food and beverage service, connectivity, and power outlets, positioning it as a first-class travel option that averaged around 30,000 riders annually at its peak. In May 2014, upon his retirement, McCann sold LimoLiner to the Hamilton Transportation Group, marking the end of his direct involvement in the transportation sector.

Celtic Football Club

Pre-takeover involvement

Fergus McCann developed a deep affinity for Celtic Football Club during his youth in Croy, Scotland, where he regularly attended matches as a supporter, often traveling on the local fans' bus to . After emigrating to in the mid-1960s, he maintained his lifelong fandom, following the club's fortunes from afar despite the geographical distance. This enduring passion, rooted in his Scottish upbringing, kept Celtic central to his personal interests even as he built a successful business career overseas. A pivotal early professional link to the club emerged in 1972, when McCann, then based in , secured the satellite television rights to broadcast Celtic's European Cup semi-final match against Internazionale in . This arrangement not only allowed Canadian supporters to view the game but also highlighted McCann's in leveraging his fandom to facilitate access to Celtic content internationally, marking his first tangible involvement beyond mere spectatorship. By the late 1980s, amid increasing fan dissatisfaction with the club's stagnant management and financial mismanagement under the longstanding board, McCann began offering informal support from . In 1988, he approached the Celtic board with a proposal for a low-interest loan to fund expansions at , such as a new two-tiered stand, though the offer was ultimately declined. These overtures positioned him as an external advisor figure, reflecting his growing concern over the club's direction without assuming any formal role. Throughout the early 1990s, McCann closely monitored Celtic's escalating financial difficulties from his base in , including mounting debts and the risk of administration, which fueled his personal resolve to intervene if opportunities arose. He engaged in ongoing discussions with board members over two years, attempting to provide assistance amid the club's struggles, though these efforts met resistance from the entrenched . This period of observation and tentative outreach underscored his commitment as a devoted fan increasingly alarmed by the potential collapse of the institution he cherished.

1994 takeover and restructuring

In early 1994, Celtic Football Club faced severe financial distress, with an overdraft exceeding £5 million and the immediate threat of due to the Bank of Scotland's recall of its credit facility. The club's long-standing board, dominated by the Kelly and family dynasties that had controlled it since its founding, had overseen mounting debts and mismanagement, leaving Celtic unable to meet or comply with post-Taylor stadium requirements without external intervention. This crisis galvanized fan protests and calls for change, culminating in an where the board's survival hung in the balance. On 4 March 1994, Canadian businessman and lifelong Celtic supporter Fergus McCann intervened decisively, investing £9.4 million to secure a 51% controlling stake in the club and effectively ousting the incumbent board. McCann, who had been monitoring the situation from afar, arrived in to announce the takeover, pledging a total rescue package of around £17.9 million that included his personal funds and commitments from other investors. This move ended the family-dominated regime and installed McCann as managing director, with immediate board appointments including allies like Brian Dempsey to oversee the transition. To stabilize and professionalize the club, McCann swiftly converted Celtic into a (PLC) and floated it on the later that year. A public share issue raised £14 million, the most successful in British football history at the time, with over 10,000 supporters participating to fund essential operations and future developments. Complementary stabilization efforts focused on rigorous cost-cutting, such as reducing administrative overheads and negotiating repayments, while actively promoting fan ownership—ultimately allocating 63% of shares to supporters to foster a sense of community involvement and long-term loyalty. These measures averted collapse and laid the groundwork for financial recovery within months.

Achievements and developments

Under Fergus McCann's leadership, one of the most transformative achievements was the comprehensive redevelopment of , known as Paradise, which addressed the stadium's outdated infrastructure and complied with modern safety standards. The project involved a phased rebuild, including the construction of the new Janefield Stand (East Stand) and the North Stand (later named the Stand), completed in August 1998, which increased the venue's capacity from around 48,000 to over 60,000 all-seated spectators. McCann's initiatives also drove substantial growth in the club's commercial operations and fan engagement, turning Celtic into a more financially robust entity. sales surged from approximately 7,000 prior to his to 53,000 by 1998, reflecting heightened supporter commitment and enabling consistent revenue streams. This expansion in fan base was supported by broader commercial revenue increases, with the club's overall income rising 54% to £16 million in the 1995-96 financial year alone, bolstered by enhanced merchandising and sponsorship deals. On the pitch, McCann's tenure culminated in ending Celtic's six-year Scottish Premier League title drought during the 1997-98 season, achieved under manager , who led the team to both the league championship and the . This success not only restored competitive pride but also aligned with McCann's of sustainable in playing talent. Beyond immediate results, McCann oversaw key modernizations, including investments in the club's youth academy to nurture homegrown talent and efforts in international marketing to tap into global Celtic support, particularly among the Irish diaspora and overseas fans. These developments, funded in part by the initial 1994 share issue that raised over £14 million from supporters, laid the groundwork for long-term institutional strength.

Departure in 1999

By November 1999, Fergus McCann had fulfilled his five-year plan for Celtic Football Club, established upon his 1994 takeover, leaving the club financially secure with a turnover of £33.8 million—a 385% increase from prior levels—and an operating profit of £6.7 million. The redevelopment of into a 60,506-capacity , costing £41 million, had been completed, and the club's shares were broadly distributed to supporters, resulting in approximately 63% fan . In September 1999, McCann announced the sale of his remaining 51% stake—14.4 million ordinary shares—at 280 pence each, valued at around £40.3 million, prioritizing purchases by existing shareholders, season ticket holders, and staff. The sale closed in October, with 75% of the offered shares accepted by over 5,300 individual investors, generating £21 million, while institutional underwriters absorbed the rest to ensure completion. This left Irish investor Dermot Desmond as the largest shareholder with 19.8% of the equity, up from his previous 13.8% holding. The handover began earlier in April 1999, when McCann resigned as managing director and chairman after completing his five-year tenure, with Frank appointed as the new chairman and Allan MacDonald, formerly of , succeeding as chief executive in July. As part of the transition, McCann retained the right to purchase four season tickets annually, a practice he has maintained since his departure. Reflecting on his tenure, McCann described himself as a "reluctant saviour" who had acted out of necessity rather than seeking personal acclaim, expressing delight at the "overwhelming" supporter response to the share sale and satisfaction with the club's progress toward stability. He emphasized avoiding any portrayal as a , focusing instead on his role in restoring Celtic's foundations without claiming undue wealth or glory.

Personal life

Family and relationships

Fergus McCann married , a former , on January 27, 1995, in . The couple's marriage lasted nearly 20 years until their amicable separation in 2014. McCann and had three children: daughters Ishbel and , born in the late 1990s, and son Malcolm, born around 1999. Public details about the children's lives remain limited, reflecting McCann's deliberate stance on maintaining family privacy and minimizing media exposure for his relatives. McCann's extensive business travels, which began after his emigration to in the early , shaped dynamics by necessitating a balance between professional commitments and home life. The primarily resided in during his early career, with occasional visits to the , before relocating to the in 1999. This peripatetic lifestyle fostered a close-knit , where McCann prioritized morning routines with his children and separated work from interactions to preserve domestic stability.

Later years and retirement

Following his departure from Celtic in 1999, McCann founded LimoLiner, a luxury bus service operating between and , which he sold in 2014, marking his retirement from active business involvement. This transition allowed him to adopt a low-profile lifestyle in , away from the public eye. In 2014, McCann separated from his wife, , after nearly two decades of marriage; the couple, who had three children together, issued a joint statement emphasizing an amicable parting. Post-retirement, he directed his attention toward philanthropic efforts through a private charitable foundation he established in 1999, focusing on quiet, personal contributions rather than high-visibility initiatives. McCann maintained his longstanding connection to Celtic Football Club by renewing four season tickets annually and making infrequent visits to matches, including an appearance at in August 2025. He occasionally offered public commentary on the club, such as a 2014 to fans urging consistent support amid a dip in season ticket sales. His retirement pursuits emphasized family time and personal interests, reflecting a deliberate shift to after years in the spotlight. As of 2025, McCann, born on February 26, 1941, is 84 years old and resides with no active business roles, enjoying a reclusive existence centered on his foundation and Celtic fandom.

Legacy

Impact on Celtic FC

Fergus McCann's tenure fundamentally transformed from a club on the brink of into a sustainable (PLC) model, emphasizing broad fan ownership to ensure long-term stability. Prior to his 1994 , Celtic faced severe financial distress, but McCann orchestrated a share issue that raised approximately £14 million and attracted over 10,000 individual shareholders, many of them supporters, thereby democratizing ownership and reducing reliance on a single controlling entity. This structure not only injected vital capital but also fostered a investment, with fans holding a significant portion of the equity, which has persisted in the club's governance framework. The financial turnaround under McCann was profound, shifting the club from around £5 million in and insolvency risks to consistent profitability by the late 1990s. By restructuring operations, cutting unnecessary costs, and boosting commercial revenues, Celtic achieved operating profits that provided a solid foundation for post-takeover achievements, including nine consecutive titles between 2012 and 2020. This fiscal discipline ensured the club's resilience against future economic challenges in Scottish football. McCann's infrastructure legacy centered on the comprehensive redevelopment of , converting the aging venue into a modern 60,000-capacity between and 1998. This £40 million project, funded partly through the share issue and loans, included new stands, improved facilities, and compliance with safety regulations, which dramatically increased matchday attendance from under 30,000 to over 50,000 per game and generated higher revenues from tickets, hospitality, and events. The enhanced not only elevated the supporter experience but also positioned Celtic as a premier venue in European football. These changes instilled a cultural shift toward greater supporter involvement, influencing modern club governance by prioritizing fan perspectives in decision-making through the shareholder base. McCann's model of inclusive ownership has shaped Celtic's identity as a community-driven institution, contrasting with more centralized structures in other clubs and contributing to sustained fan loyalty and engagement long after his 1999 departure.

Recognition and public image

Fergus McCann earned the affectionate nickname "The Bunnett" among Celtic supporters, derived from his distinctive , which became a symbol of his unassuming yet determined persona during the 1994 takeover. He is also widely regarded as the "Saviour of Celtic" for his pivotal role in rescuing the club from financial collapse at the eleventh hour, a moniker that reflects the profound gratitude from fans who credit him with preserving the institution's future. Media coverage of McCann initially reflected skepticism from some quarters in the , with critics questioning his outsider status and business-oriented approach amid fan frustrations over early results, but this evolved into widespread praise as his strategies bore fruit. A notable example is the 2023 BBC Scotland documentary "The Man Who Saved Celtic," part of the "A View from the Terrace" series, which chronicles his transformative impact and highlights the shift in perception from reluctant acceptance to heroic acclaim. In the and , public reappraisal of McCann intensified alongside Celtic's sustained successes, with retrospectives emphasizing his foundational contributions to the club's dominance in Scottish football. This period saw increased acknowledgment of his vision in official club narratives and fan discourse, positioning him as an enduring architect of modern Celtic. In August 2025, McCann made a surprise appearance at for , delighting fans and highlighting his continued connection to the club. Despite the absence of formal awards or honors from football governing bodies, McCann's public image is sustained by deep-rooted fan appreciation, demonstrated through commemorative tributes such as the 25th anniversary reflections in 2019, including his emotional address to supporters at , and the club's 30th anniversary video homage in 2024, which celebrated his legacy during a matchday event.

References

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