Celtic’s Wilfried Nancy severance package total speculated after behind-the-scenes talks
Celtic could be set to record their worst season in several years following Wilfried Nancy’s failed stint as manager.
It was confirmed last week Nancy has been sacked by Celtic just 33 days after joining from Columbus Crew, having suffered six losses in his eight games in charge.
Celtic’s 3-1 defeat against Rangers in the Old Firm derby at Parkhead on 3 January proved to be the final nail in the coffin for Nancy.
The Hoops have appointed Martin O’Neill as interim manager until the end of the season.
How Celtic could have agreed compensation package with Wilfried Nancy
Former Man City financial adviser Stefan Borson exclusively told Football Insider Celtic could have agreed to pay Nancy up to £2m in compensation.
The French boss arrived in Glasgow with a solid reputation following his work at Columbus Crew, where he won the MLS Cup and Leagues Cup.
Speaking exclusively to Football Insider, Borson said: “I mean, it’s a funny one because it’s just so early. They definitely won’t be paying up his contract because I just don’t think they’d have done it. It’s just so much money.
“They may well have had a conversation with him and said, ‘Well, this is just not working, what’s it going to cost us for you to say goodbye after 33 days?’.
“And he may well have taken a couple of million quid to say, ‘Actually, I don’t think it’s working either. I’ll pocket the £2m’.”
Celtic’s potential Nancy termination clause revealed
Borson suggested there may well have been a liquidated damages clause included in Nancy’s contract when he signed a two-and-a-half-year deal at Parkhead.
“It could just be as simple as a liquidated damages clause,” said Borson.
“They could have said, ‘If we want to sack you, it costs us £1m, whatever the number is, a year’s salary, and that’s what we’ve got to pay. Even though it’s 33 days, we’re desperate to get rid of you. It’s not working. We are in real danger of finishing at least second. If we finish second, we will get a qualifier for the Champions League, but we’ve got three qualifying rounds, which is not good news, versus one qualifying round if you finish top’.
“They probably still think they can save the season and finish above Hearts. In the grand scheme of things, what’s £1m in that context? They probably go, ‘It’s fine. It’s not the key amount of money in this, so we’ll just take the hit’.”
Celtic secured a 4-0 victory over Dundee United on Saturday (10 January), ensuring O’Neill got his second stint in charge as interim boss this season off to a perfect start.
The Hoops currently sit third in the Scottish Premiership table, six points behind leaders Hearts and three points off second-place Rangers.
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