At a news conference called at short notice, Celtic's vice-chairman, Brian Quinn, and managing director Fergus McCann stressed the Celtic board were united in their stance on the projected takeover, emphasising that what was mooted by the consortium was below the club's market value.
"We acknowledge the consortium's expression of interest in the company," Quinn said. "We have considered the consortium's proposals and, after discussion with our advisors, are unanimous in our view that this approach is not in the best interests of Celtic, its supporters and shareholders.
"Celtic is much more than a business," Quinn added. "The Celtic board has always been mindful of the need to reconcile its responsibility to shareholders with its wider role of representing the Celtic community.
"Fergus McCann's plans of enhancing the participation of ordinary Celtic supporters in the club are intended to maintain that balance. Turning to the proposals themselves, the board believes that they do not satisfy the criteria against which the board would assess this approach and accordingly they do not represent fair value to the Celtic shareholders."
Meanwhile, the Celtic midfielder, Vidar Riseth, has complained about being played out of position by the club's head coach, Dr. Jozef Venglos.
The Norwegian international feels he has been denied a genuine opportunity to prove the value of his pounds 1.5m fee when being used as a centre-half or a right winger. Riseth views himself as a central or a left-sided midfielder and is becoming frustrated at being unable to impress the new Norway coach, Nils Johan Semb.
"It's not easy when you have to play out of position," Riseth said. "I feel I have not done my best for the club yet because of this."Reuse content