O'Callaghan was due to become a director of the club last night, and will assume the position of non-executive chairman-elect of the Celtic plc board when McCann departs. McCann has said he will sell his shares at the end of the season, when he wants a broad fan base to take up the holdings.
The installation of O'Callaghan on the board is bad news for the consortium aiming to take over the club. The group, headed by Kenny Dalglish and the Simple Minds singer, Jim Kerr, had its initial proposals rejected and, with no formal meeting having taken place between the parties, McCann seems intent on bowing out in the manner of his choice.
McCann has effectively given O'Callaghan a fraction of the role he holds himself, with a new chief executive, likely to have a more direct footballing remit, still to be chosen.
According to McCann, O'Callaghan was headhunted by Celtic's selection committee and once proposed as the main candidate, the board unanimously agreed his appointment.Reuse content