A CLUB DIVIDED

Billy McNeill's return to Celtic was marked by a major overhaul of the squad. Billy Stark, Andy Walker and Chris Morris joined Mick McCarthy, who had been signed by Hay just before he was sacked.

[ THE DOUBLE ] Pre-season omens for the 1987-88 season did not appear good, but it was to be a golden year for Celtic, going 31 games unbeaten and clinching the double in the club's centenary year.

A Scottish Cup final win over Rangers the following season could not disguise the feeling of anti-climax as Celtic finished third in the league and suffered a 5-1 drubbing from their Old Firm rivals in the process.

It was the beginning of a difficult period for the club. Despite more new signings, including Mike Galloway, Paul Elliott and Dariuz Dziekanowski, winning trophies seemed to be a lost skill for the Celts. McNeill continued in charge until 1991 when another barren season cost him his job.

His successor Liam Brady had two turbulent two years in charge, suffering humiliating defeats at the hands of Airdrie in the 1991 League Cup and Neuchatel Xamax of Switzerland in the UEFA Cup two months later.

At the same time Celtic was being attacked by supporters' groups, angry at the running of the club by the 'family dynasty' in the boardroom and the club's slowness to react to the Taylor Report of 1990 that demanded all-seater stadiums by the start of the 1994-95 season.

The board itself was divided. Brian Dempsey, appointed to the board in 1990, alongside Michael Kelly, proposed a new complex for the club in the Robroyston district of Glasgow, but he was opposed by Kelly and Chris White, the largest shareholder in the club.

Forced off the board, Dempsey was to prove a thorn in the club's side, culminating in a takeover bid in 1992 which split the board. The same year the club announced plans for another new ground, this time at Cambuslang, to be completed by 1994. Yet two years later work still had not been started and it became apparent that the club was in severe financial trouble.

[ FERGUS McCANN ] The fans' anger at events off and on the field continued, with "Sack the Board" a constant chant on the terraces, especially after it had turned down an indemnity group, led by businessman Fergus McCann, offering to invest £13.8m in the club in return for new shares. Brady resigned in October 1993 as Celtic continued to struggle and his replacement Lou Macari quickly alienated many of the players with his heavy-handed approach.

The club's woeful situation came to a head when the Bank of Scotland informed the club they had exceeded their £5m overdraft and it was ready to call in the receivers on Thursday 3rd March 1994.

The board finally agreed to sell the club to Fergus McCann, and he took control eight minutes before the club was declared bankrupt.