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Pressure on as Celtic's debt doubles

Jason Gee
Sunday 05 August 2001 00:00 BST
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Celtic's call for a place at the Premiership feast will be even louder now after the club announced yesterday that they finished their treble-winning season with debts approaching £30 million.

Figures released to the Stock Exchange also showed a £11.2m loss for the 12 months to the end of June, close to twice the £6m deficit from the previous year. The club's overall debt almost doubled over that period, too, from £14.5m to £29.6m.

The club enjoyed their most successful season on the pitch since 1969 in Martin O'Neill's first season in charge, but the figures, which do not include the recent £22.5m share issue or O'Neill's summer signings, are testimony to the dismal transfer policies of his predecessors.

The Celtic chairman, Brian Quinn, admitted that the club had all but given up recouping significant sums from the sale of certain players, although he refused to identify those without a future at Celtic Park. The Brazilian defender Rafael Scheidt, however, is a clear example of one the frame, having barely kicked a ball since his £5m purchase by John Barnes. O'Neill quickly sent him back to Brazil but only on loan.

Quinn added: "This year's results reflect two main factors. The outstanding success the first team enjoyed under Martin O'Neill's leadership and the significant costs associated with our decision to invest in the football division in the last two years.

The financial results will have put extra pressure on O'Neill's squad to overcome Ajax and reach the Champions' League group stages, which could be worth almost £10m to the club.

Meanwhile, on the pitch, Dunfermline stayed on top of the Scottish Premier League yesterday with a 2-0 victory over St Johnstone. Barry Nicholson gave the Pars a first-half lead and David Nicholls grabbed a second 10 minutes into the second half to clinch the points.

Dundee claimed their first victory of the season in week two, beating Hibernian 2-1 in an exciting game at Dens Park. Juan Sara's first-half opener was cancelled out in the 59th minute when John O'Neil capitalised on some indecision in the Dundee defence to rifle home the equaliser. However, only three minutes later, the impressive Fabian Caballero restored the home side's lead with a fine individual goal.

Hearts kick-started their campaign with a hard-fought 1-0 victory at home to Aberdeen. A thunderous first-half volley from the Scotland international Colin Cameron was enough to secure the points and allowed Hearts to set aside the memory of last week's surprise defeat at newcomers Livingston.

Stéphane Mahe put in a predictably solid performance on his Hearts debut and if his manager, Craig Levein, can add more players of his calibre a Uefa Cup slot is a distinct possibility.

A 16-man brawl in the dying moments of a first half between Motherwell and Dundee United was the highlight of an otherwise dull 0-0 draw at Fir Park.

After a hard-fought first 45 minutes, Neil Tarrant caught Jamie McCunnie late in a badly timed challenge. As both players were left to writhe in agony, every player bar the goalkeepers rushed to confront each other. The referee, Garry Mitchell, struggled to control the sides as tempers raged, and when he finally gained a measure of calm he merely booked Tarrant. Otherwise, James Patterson's powerful header against the crossbar in the 59th minute was the best this meagre feast could offer.

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