Editing Celtic F.C. (section)

===Private company===
Celtic were formed in 1887, and in 1897 the club became a [[Limited Company|Private Limited Company]] with a nominal share capital of 5000 shares at £1 each.<ref name="CFCBriefHistory" /><ref name="p174">{{harvnb|Wilson|1988|p=174}}</ref> The following year a further share issue of 5000 £1 shares was created to raise more capital. The largest number of shares held were by businessmen from the East End of Glasgow, notably James Grant, an Irish publican and engineer, [[James Kelly (footballer, born 1865)|James Kelly]], one of the club's original players turned publican, and John Glass, a builder and driving force in the early years of the club.<ref name="p174" /> His shares, upon his death in 1906, passed on to Thomas White.<ref>{{harvnb|Wilson|1988|p=176}}</ref> The Grant, Kelly and White families' shareholdings dominated ownership of the club throughout the 20th century.<ref name="Celticseer" /><ref>{{harvnb|Wilson|1988|pp=174–177}}</ref><ref name="LeicesterStudy" />

[[File:James Kelly footballer in 1892.jpg|left|upright=1.36|thumb|[[James Kelly (footballer, born 1865)|James Kelly]] was one of Celtic's early directors and also briefly chairman. His son [[Robert Kelly (football chairman)|Robert Kelly]] spent many years as chairman, and further descendants Kevin Kelly and [[Michael Kelly (Lord Provost)|Michael Kelly]] went on to have prominent roles on the Celtic board.]]The late 1940s saw [[Robert Kelly (football chairman)|Robert Kelly]], son of James Kelly, become chairman of the club after having been a director since 1931. [[Desmond White (footballer)|Desmond White]] also joined the board around this time, upon the death of his father Thomas White.<ref>{{harvnb|Wilson|1988|pp=178–179}}</ref> By the 1950s, a significant number of shares in the club had passed to Neil and Felicia Grant, who lived in [[Toomebridge]], [[County Antrim]]. These shares accounted for more than a sixth of the club's total issue.<ref name="p179">{{harvnb|Wilson|1988|pp=179}}</ref> Club chairman Robert Kelly's own family share-holding was of a similar size, and he used his close relationship with the Toomebridge Grants to ensure his power base at Celtic was unchallengeable.<ref name="p179" /> When Neil Grant died in the early 1960s, his shareholding passed to his sister Felicia, leaving her as the largest share-holder in Celtic.<ref name="p179" /><ref>{{cite book|last=Cairney|first=John|title=Heroes Are Forever: The Life and Times of Celtic Legend Jimmy McGrory|date=2007|publisher=Mainstream Publishing Company (Edinburgh) Ltd|isbn=978-1845961039|page=69|url=https://books.google.com/books?id=yOT7E7NGfB4C&q=felicia+grant+celtic&pg=PT26|access-date=4 October 2020|archive-date=9 September 2022|archive-url=https://web.archive.org/web/20220909141712/https://books.google.com/books?id=yOT7E7NGfB4C&q=felicia+grant+celtic&pg=PT26|url-status=live}}</ref> This gave rise to the myth among Celtic supporters of the "old lady in Ireland" who supposedly had the ultimate say in the running of the club.<ref name="p179" />

Celtic's board of directors had a reputation of being miserly and authoritarian. In particular they were known for frequently selling their top players and not paying their staff enough; they were also seen as lacking ambition, which caused friction with several managers.<ref>{{cite news |url=https://news.google.com/newspapers?id=d8FAAAAAIBAJ&pg=3202,5505466&dq=celtic+directors+money+stein&hl=en |title=Enter the flawed disciplinarians... |work=The Glasgow Herald |date=24 October 1984 |access-date=29 May 2012 |archive-date=9 September 2022 |archive-url=https://web.archive.org/web/20220909142946/https://news.google.com/newspapers?id=d8FAAAAAIBAJ&pg=3202,5505466&dq=celtic+directors+money+stein&hl=en |url-status=live }}</ref> [[Jimmy McGrory]]'s tenure as manager is generally considered a period of underachievement, but with Chairman Robert Kelly's domineering influence. many have questioned how much authority McGrory ever had in team selection.<ref name="wilson8687">{{harvnb|Wilson|1988|pp=86–87}}</ref><ref>{{cite news|last=Cuddihy|first=Paul|title=Ronny Deila is Celtic's No.17|url=http://www.celticfc.net/news/6009|access-date=15 September 2015|work=Celtic FC|date=6 June 2014|archive-date=2 October 2015|archive-url=https://web.archive.org/web/20151002015425/http://www.celticfc.net/news/6009|url-status=live}}</ref> Even [[Jock Stein]]'s time as manager ended on a sour note when he was offered a place on the Celtic board, but in a role involving ticket sales. Stein felt that this was demeaning, stating he was "a football man, not a ticket salesman". He declined this offer and decided to stay in football management, joining [[Leeds United]] instead.<ref>{{cite news |url=http://www.scotsman.com/news/obituaries/tommy-burns-1-1168332 |title=Tommy Burns |work=The Scotsman |date=15 May 2008 |access-date=29 May 2012 |archive-date=2 April 2015 |archive-url=https://web.archive.org/web/20150402153053/http://www.scotsman.com/news/obituaries/tommy-burns-1-1168332 |url-status=live }}</ref><ref name="TimesPictureGoogle">{{cite news |url=https://news.google.com/newspapers?id=BOBAAAAAIBAJ&pg=3124,696414&dq=celtic+directors+money+stein&hl=en |title=Reign of the Big Two |work=Evening Times |date=4 November 1986 |access-date=29 May 2012 |archive-date=15 February 2021 |archive-url=https://web.archive.org/web/20210215093508/https://news.google.com/newspapers?id=BOBAAAAAIBAJ&pg=3124%2C696414&dq=celtic+directors+money+stein&hl=en |url-status=live }}</ref><ref>{{cite news |url=https://pqasb.pqarchiver.com/smgpubs/access/916233491.html?dids=916233491:916233491&FMT=ABS&FMTS=ABS:FT&type=current&date=Oct+23%2C+2005&author=Tom+Shields&pub=Sunday+Herald&desc=Celtic+do+the+decent+thing+.+.+.+TOM+SHIELDS%27+SPORTS+DIARY&pqatl=google |title=Celtic do the decent thing . . . TOM SHIELDS' SPORTS DIARY |work=Glasgow Herald |date=23 October 2005 |access-date=29 May 2012 |first=Tom |last=Shields |archive-date=14 March 2013 |archive-url=https://web.archive.org/web/20130314003717/http://pqasb.pqarchiver.com/smgpubs/access/916233491.html?dids=916233491:916233491&FMT=ABS&FMTS=ABS:FT&type=current&date=Oct+23%2C+2005&author=Tom+Shields&pub=Sunday+Herald&desc=Celtic+do+the+decent+thing+.+.+.+TOM+SHIELDS%27+SPORTS+DIARY&pqatl=google |url-status=dead }}</ref> [[Billy McNeill]] won a trophy in each of his five seasons as manager, but was still paid less than the managers of [[Rangers F.C.|Rangers]], [[Aberdeen F.C.|Aberdeen]] and [[Dundee United F.C.|Dundee United]]. He left the club in June 1983 after his request for a contract and pay rise was publicly rebuffed by the board. McNeill moved on to manage [[Manchester City F.C.|Manchester City]], stating that to remain at Celtic would have been humiliating.<ref name="TimesPictureGoogle" /> McNeill's successor, [[Davie Hay]], also had his difficulties with the Celtic board. When trying to sign players in 1987 to strengthen his squad to compete with high-spending Rangers, the board refused to pay for them; chairman Jack McGinn was quoted as saying that if Hay wanted these players, "he will have to pay for them himself".<ref>{{cite book|last1=Hay|first1=Davie|last2=Gordon|first2=Alex|title=The Quiet Assassin: The Davie Hay Story|date=2009|publisher=Black and White Publishing|isbn=978-1845022662|url=https://books.google.com/books?id=cFq7AwAAQBAJ&q=davie+hay+stevie+clarke+pay+for+him+himself&pg=PT135|access-date=21 January 2016}}</ref>

By the end of the 1980s the Celtic board consisted of chairman McGinn and directors Kevin Kelly, Chris White, Tom Grant and Jimmy Farrell. Neither McGinn nor Farrell were members of the traditional family dynasties at Celtic. Farrell was a partner in the Shaughnessy law firm that had long-standing connections with Celtic, and was invited to become a director in 1964. McGinn had set up ''[[The Celtic View]]'' in the 1960s and later became the club's commercial manager. He was given a seat on the board and became chairman in 1986.<ref>{{harvnb|Wilson|1988|pp=179–182}}</ref> In May 1990 the former Lord Provost of Glasgow, [[Michael Kelly (Lord Provost)|Michael Kelly]], and property developer [[Brian Dempsey (businessman)|Brian Dempsey]] were invited to join the Celtic board.<ref>{{cite web |first=Ian |last=Paul |url=http://www.heraldscotland.com/sport/spl/aberdeen/kelly-dempsey-given-job-of-building-celtic-s-future-1.578662 |title=Kelly, Dempsey given job of building Celtic's future |work=Herald Scotland |date=4 May 1990 |access-date=5 August 2013 |archive-date=19 July 2014 |archive-url=https://web.archive.org/web/20140719200329/http://www.heraldscotland.com/sport/spl/aberdeen/kelly-dempsey-given-job-of-building-celtic-s-future-1.578662 |url-status=live }}</ref><ref>{{cite news|last=Scott|first=Graham|title=Paradise promised|url=https://news.google.com/newspapers?id=ExA-AAAAIBAJ&pg=4240%2C1263655|access-date=14 May 2015|newspaper=Evening Times|date=4 May 1990|page=76|archive-date=15 February 2021|archive-url=https://web.archive.org/web/20210215093458/https://news.google.com/newspapers?id=ExA-AAAAIBAJ&pg=4240%2C1263655|url-status=live}}</ref> Dempsey did not last long however, as a dispute about a proposed relocation to Robroyston resulted in him being voted off the board five months later.<ref>{{cite news|title=Brian is voice of the fans|url=http://www.thecelticwiki.com/page/Brian+Dempsey|access-date=8 July 2014|work=Daily Record|date=4 March 1994|archive-date=12 May 2014|archive-url=https://web.archive.org/web/20140512053106/http://www.thecelticwiki.com/page/Brian+Dempsey|url-status=live}}</ref>