Key Highlights
- Celtic’s AGM was disrupted by shareholder protests after the meeting was adjourned early.
- Chairman Peter Lawwell ended the meeting abruptly and warned of potential closure if disruption continues.
- The board acknowledged ongoing frustration from supporters but defended their actions.
- There are 17 resolutions to be voted on, including reappointments of directors and a board restructuring plan.
Celtic’s AGM: A Day of Controversy and Protests
As Celtic Football Club navigated the annual general meeting (AGM) this 20th November, a palpable tension filled the air. The board’s presence was met with boos and red cards as shareholders voiced their discontent. Chairman Peter Lawwell had to adjourn the meeting early due to disruptive protests, an unusual turn of events for such proceedings.
Early Adjudgment and Protests
The AGM was set to discuss 17 resolutions, including reappointments of directors and a board restructuring plan. However, the meeting took an unexpected turn when it was called off after only five minutes due to disruptive behaviour from protesting shareholders. Lawwell addressed the crowd, stating, “This disruptive behavior has got to stop. If it doesn’t stop, I will have no hesitation in stopping the meeting.” The atmosphere was tense as attendees held red cards aloft and chanted, “Sack the Board.”
Board’s Response and Admissions
In his video presentation, Lawwell acknowledged the frustration felt by supporters. He said, “I understand the frustration and negativity from some parts. We recognise we’ve made mistakes and improvements need to be made.” A fan shouted back, “Look in the mirror!” This exchange highlighted the deep-seated issues between the club’s board and its fans.
Protests Continue Throughout
The disruptive protests continued even after the meeting was briefly adjourned. Ross Desmond of The Celtic Trust made a statement, saying, “We will not be bullied.” His father, Dermot Desmond, is one of the prominent shareholders who have been vocal about their concerns. Despite these interruptions, Lawwell remained firm: “I am going to have you apologise to those supporters who have the best interests of the club at heart but I am going to have to draw the meeting to a close.”
Financial Success Amidst Unrest
While the club reported record financial results, with revenue increasing by 15.2% and profit on player sales reaching £31.5m, this success has not quelled the unrest among supporters. The Celtic Trust’s Jeanette Findlay was instructed to return to her seat during the introduction video, adding another layer of tension.
The AGM is expected to resume at some point, but with a disrupted timeline and heightened tensions. The board faces serious questions from shareholders about their future strategy in light of recent managerial departures and ongoing protests off the pitch. This AGM serves as a stark reminder that despite financial success, the relationship between Celtic FC and its fans remains strained.
