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Celtic chief executive Michael Nicholson insists the club remain fully supportive of Martin O'Neill despite the veteran manager being under mounting pressure.
O'Neill stated after the 1-0 defeat to Rangers at Parkhead last Sunday that he would take time to consider his future during the international break and whether it might be time to 'wrap it up'.
The 74-year-old, who agreed a one-year deal back in the summer to remain at the helm, has presided over three damaging defeats to Rangers and Ferencvaros over the past week.
Although Celtic do still remain top of the league by two points, a large section of the support had called for a change to be made in recent days.
But, as Celtic released their latest annual accounts showing a post-tax loss of £4.8million as well as cash reserves of £66.4m, Nicholson was adamant the club remain fully behind O'Neill.
'We were delighted to end season 2025/26 on a high, winning the Scottish Premiership on the final day of the season and adding the Scottish Cup and Women's Scottish Cup in the weeks following,' said Nicholson.
Martin O'Neill says he's considering his future as Celtic boss after three defeats on the bounce
Celtic chief Michael Nicholson has offered his support to the under-fire manager
'But last season was a challenging one for the club, both on and off the pitch. Following a period of stability, which has borne fruit in terms of success and growth over recent years, we experienced turmoil which affected the club's performance.
'We will address and learn from the challenges faced and mistakes made.
'The final weeks of the Premiership season; the final match at Celtic Park; the Scottish Cup final; these will live long in the memory for Celtic fans, whose support was a decisive factor.
'I thank Callum McGregor and all of the players and staff for their hard work and determination throughout the season that made the success possible.
'As the Chairman has noted, the environment was unstable, following Brendan Rodgers' resignation and our decision to move on from Wilfried Nancy.
'We owe a debt of gratitude to Martin O'Neill and his management team, who stepped up for Celtic, twice, and who guided the team to success.
'We were therefore delighted that Martin agreed to lead the Club again this season and we have worked with Martin and his team over the summer transfer window to invest in the squad.
'Having started well in the Premiership this season, we experienced disappointment in the UEFA Champions League play-off.
'Reaching the league phase of the Champions League is an objective for us all, and we are sorry not to have achieved it.
'On top of that, the losses in the last week have been painful for us all. We will now come together and support Martin and the players, as we focus our efforts on achieving success domestically and in the Europa League.'
In his own address to supporters, Celtic chairman Brian Wilson claimed that the disastrous appointment of Nancy last season could have worked had it not happened mid-season.
Nancy lasted only a month in the job after presiding over a shambolic run of form and eventually left as statistically the worst – and shortest-serving – manager in the club's history.
The Celtic hierarchy at full-time in Sunday's 1-0 home defeat to Old Firm rivals Rangers
'The events of the past 12 months have been dramatic, sometimes joyful and at other points deeply frustrating,' said Wilson.
'The departure of Brendan Rodgers was an unanticipated event which initiated a period of instability.
'In other circumstances, the appointment of Wilfried Nancy might have worked but his arrival in mid-season and the changes which followed clearly did not.
'Parting ways with Wilfried was hugely disappointing but decisive action had to be taken.
'The return of the great Martin O'Neill, supported by his backroom team as well as a fine squad of players, then proved to be a triumphant success.
'The early stages of the 2026/27 season have brought mixed fortunes.
'Our league campaign started strongly and the first leg tie in the Champions League qualifier gave cause for optimism.
'The second leg defeat to LASK was, accordingly, all the more deeply disappointing for every supporter of the Club.
'This has been followed by our exit from the League Cup. We now move into the Europa League as well as pursuing our defence of the Scottish Premiership and Scottish Cup, with renewed commitment to success.'
In terms of their annual accounts for the year ending June 30, 2026, Celtic's revenue decreased by 22.7 per cent to £111.0million (2025: £143.6million).
Operating expenses including labour increased by 4.3 per cent to £122.1million (2025: £117.1million).
Gain on sale of player registrations of £16.0million (2025: £31.5million). Acquisition of player registrations of £15.6million (2025: £38.6million)
Loss before tax of £6.6million (2025: profit of £45.7million). Loss after tax of £4.8million (2025: profit of £33.9million).Year-end cash of £66.4million (2025: £77.3million).
