Fergus McCann

Who is Fergus McCann?

Fergus McCann is a Scottish-born Canadian businessman and entrepreneur.

McCann's wealth stemmed initially from a golf vacation company, based in Montreal and Phoenix. He is best known for his involvement in Celtic F.C., the football club based in Glasgow. He acquired a 51% controlling stake in the Celtic Football and Athletic Company Ltd. in 1994, after it became clear that the club was facing bankruptcy. Acting as a guarantor for the club's £7 million debt, he injected additional finance, floated the club on the London Stock Exchange as a public limited company, Celtic plc, in order to raise capital from a share issue, and oversaw an extensive redevelopment of Celtic Park.

What some perceived as McCann's abrasive manner, coupled with his preoccupation with building a sustainable infrastructure for the club off the field rather than a title winning one on it, prompted sustained criticism during much of his tenure. Although credited with rescuing the club from imminent bankruptcy, McCann stated at the outset that he would stay for only five years, with the objectives of placing the club on a firmer business footing and returning the league championship to Celtic Park. The latter goal was met, halting Glasgow rivals Rangers F.C. in their quest for a record-breaking ten consecutive league titles.