Celtic backs Martin O'Neill after painful week with three straight defeats

Celtic has closed ranks around Martin O'Neill. After a week in which the team suffered three defeats and missed out on the Champions League, chief executive Michael Nicholson confirmed the Scottish club will keep faith in the 74-year-old manager to turn the season around.

• Celtic lose three matches in a row: two derbies against Rangers and a Europa League game against Ferencvaros.
• Martin O'Neill admitted it "might be time to wrap it up" after the latest setback.
• Michael Nicholson says the club will "come together and support" the manager.
• Financial results show a drop of nearly £33m in revenue.
• Celtic remain top of the Scottish Premiership despite the poor run.

Board and dressing room rally behind the manager

Nicholson made it clear that the club will not make any drastic decisions in the short term. "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," he said in a statement released alongside the annual accounts.

The message came after O'Neill publicly admitted his doubts. "It might be time to wrap it up," he said following the 1-0 defeat at Celtic Park against Rangers. The manager had indicated he would use the international break to consider his future.

Nine trophies across two spells back Martin O'Neill's case

"Having started well in the Premiership this season, we experienced disappointment in the 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."

Martin O'Neill has lifted nine trophies with Celtic in his two spells in the dugout. That record carries more weight than the recent bad run for a board that prefers to give the project stability. The manager has already been through difficult moments in Glasgow, but his silverware record makes him a respected figure both inside the club and among supporters.

A financial hit of £33m in revenue

The backing for O'Neill coincided with the publication of financial results showing a drop of nearly £33m in revenue. Celtic recorded a loss of £4.8m, largely due to the failure to reach last season's Champions League group stage.

This season the story repeated itself. The Scottish side squandered a 4-0 aggregate lead in the play-off against LASK and missed out on Europe's top club competition once again. Qualification had become a strategic priority for the club, as Nicholson himself admitted.

Three defeats that halted a promising run

The most difficult week of the season started in Europe and ended in the Glasgow derby. Celtic lost at home to Ferencvaros in the Europa League and then suffered back-to-back defeats against Rangers, the latest by 1-0 at Celtic Park.

Despite everything, Celtic still sit top of the Scottish Premiership. The team had opened the league campaign with solid results, and the board believes this is just a bump in the road within a season that can still deliver success.

What Celtic are playing for in the Europa League and at home

With no Champions League options left, the Europa League becomes the main European stage for Celtic. The margin for error has shrunk and every continental fixture carries extra weight for a club that needs to balance the books and regain momentum.

On the domestic front, leading the Scottish Premiership demands consistency. The derbies against Rangers set the tone for the title race, and restoring defensive solidity will be key for O'Neill's project to keep building its case.