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The Scotsman 04/03/1994
By Hugh Keevins FOOTBALL CORRESPONDENT
IN a dramatic and decisive twist to the long-running Celtic saga, the board will meet this morning to discuss the future under the control of Fergus McCann and Brian Dempsey. The talks follow last night's news that Celtic had been saved from receivership by the intervention of Dempsey, the director who was removed from the board four years ago. Should the directors, with the full approval of the Bank of Scotland, agree to the proposals put forward by the expatriate Scot, McCann, and Dempsey, the first item on the agenda is likely to be the abandonment of a move to a new stadium in Cambuslang – the brainchild of deputy chairman David Smith whose resignation is now being sought.
The latest sensational development surrounding the troubled club would at last seem to resolve the battle for control which has led to months of turmoil, culminating in the midweek boycott of Celtic's home match with Kilmarnock. In a statement issued on behalf of the club last night, it was stated that the resignations of Smith, along with fellow director Christopher White, were being sought after a meeting with the Bank of Scotland. That meeting had revealed that ''the full financial plight of Celtic had been withheld from the full board.'' The statement added that the club were in ''immediate and dire peril of being put into receivership.''
McCann has been unequivocal in his dismissal of the idea that the club should be transported from its traditional home to a new base on the outskirts of Glasgow. Dempsey has also called the Cambuslang development ''claptrap'', so he is certain to side with McCann on that issue.
The uncertainty over the future of another Celtic director, Michael Kelly, is sure to be fuelled by the re-emergence of Dempsey as a major player at Celtic Park. Dempsey has always believed Kelly to be responsible for his dismissal from the board, six months after joining their number, in 1990. Yesterday four directors of the club, Kevin Kelly, Tom Grant, James Farrell and Jack McGinn, met with the Bank of Scotland, the club's main lender and mortgage holder. Smith and White have been accused of withholding from the board the full extent of Celtic's financial plight. The club's bankers told the four directors present that Celtic had been in ''immediate and dire peril'' of being put into receivership.
The intervention of Dempsey has eased the club's position in the short term. The only mystery which remains to be solved is the immediate future of another Celtic director, Michael Kelly. The man responsible for the club's public relations was not present at last night's meeting with the bank but neither has his resignation been sought. Last night Celtic's chairman, Kevin Kelly, said: ''I am delighted with what has been achieved in securing the continued existence of Celtic Football Club and I look forward to determining the way ahead for the club with Brian Dempsey and Fergus McCann.
''The bank are also delighted with this solution which enables us to pursue the future we all wish for this club''.
McCann, a multi-millionaire, had, along with Dempsey and three others, deposited a total of 13.8 million in the Bank of Scotland last year as part of an attempt to wrest control of the club from the seven-man board of directors. At an extraordinary general meeting held last November, however, his proposal was defeated and he returned to Montreal saying he would only intervene in Celtic's affairs once again if it were at the invitation of the bank. McCann is expected to arrive in Glasgow today and be reunited with Dempsey, the man who was a Celtic director for six months before being removed at an annual general meeting. Since Dempsey believes his dismissal was choreographed by Christopher White and Michael Kelly, he has vigorously pursued control of the club and now seems to be on the verge of achieving his aim. Celtic's debts are believed to total in excess of 6million and their ground and team both need considerable sums of money spent on them as well.