Davie Hay: Blues need their version of Fergus to steady ship

But in the history of Celtic and Rangers, can there ever have been a time when they were so far apart?

While the team I played for and managed is set to be crowned champions of Scotland once again, in a season when they have regained credibility in Europe, across the city they lurch from one worrying revelation to the next.

No one knows for sure what is going to come out next with regard to the purchase and running of Rangers since Sir David Murray sold the club to Craig Whyte.

But what I do know is that Celtic should be very, very grateful that, when they faced their decisive moment in the mid-Nineties, it was Fergus McCann who stepped in to take control.

The contrast between that takeover and what has happened at Rangers could not be more stark.

Fergus had his doubters and critics when he jetted in from Canada in 1994 to stand shoulder to shoulder with Brian Dempsey.

But the legacy is there for all to see, and nowhere more so than in the financial stability of the club and the sound business ethics by which they operate.

The bottom line is that there was honesty and credibility behind what Fergus said. What he told everyone would happen, happened, from rebuilding the stadium to allowing the supporters to buy into the club.

Fergus was also adamant all his hard work was not going to be ruined by whoever succeeded him after the five years he declared he would stay, and the introduction of Dermot Desmond to the club during his time in charge was hugely significant.

Of course, Fergus's way of doing things and some of the things he said did not always meet with universal approval.

But the difference between this and what we are seeing at Rangers is that every action was transparent and had the benefit of the club at heart.

Fergus was up front from the outset about when he would leave, and what he would leave with.

At the same time, however, he told everyone what he would leave behind, and delivered on all of this. He did not play to the audience. He was dogmatic, but honourable.

He fought for what he believed was right for the club, whether that meant chasing Uefa for a transfer fee for John Collins when he went to Monaco or taking on Jim Farry at the SFA over the delay in registering Jorge Cadete.

Fergus brought stability to a club which had been in turmoil, and this continues to be reflected in the board- room where, for example, Eric Riley – another brought to the club during Fergus's time – is still the Financial Director.

Peter Lawwell came in a few years after Fergus left, but he has taken on the solid business ethics which have been so important in providing the firm foundations which have allowed the club to emerge from very difficult financial and trading times looking robust.

Fergus had a reputation for being tight with money, but, the reality is he just wanted to make sure he was getting value in everything. To borrow his words, he wanted to get bang for his buck.

I know that from personal experience. I was brought back to the club when Fergus made Tommy Burns manager. The idea was that my experience would help Tommy settle into the job.

But Fergus wanted to know exactly what he was getting for his money from me, and soon I found myself as chief scout where he believed I could be of most value to the club.

Some people reckon he knew a lot about business, but not too much about football.

But that just reminds me of a funny incident when he got a tip-off from someone that a young Dutch lad playing for Schalke might be a kid we should check out.

I was duly despatched to a game in Germany, only to find the lad wasn't even playing that night.

A quick chat with some Dutch contacts told me all I needed to know, that the lad wasn't for us. When I told Fergus all of this, he just shrugged and said: "Show's you what I know about football."

My point is he recognised his strength was business, and left the football side of it to others better equipped.

But he listened, and came through with the money when you made a case for signing a player, including Cadete, Pierre van Hooijdonk and Paulo Di Canio.

Buying players from Italy was just unheard of at that time, but Fergus did not let that fact deter him from making it happen when Paulo became available.

David Ginola was another whose transfer and wages he was ready to bankroll, and we thought we had done the deal to bring him to Parkhead from PSG until Newcastle stepped in and grabbed him.

While all of this was going on, Celtic Park was being rebuilt at a cost of millions without the club being put into any kind of financial danger.

By the time Fergus packed his bags and headed back across the Atlantic, he had transformed the entire club.

When he'd arrived, they were on their knees, hours from being closed by the bank.

Today they are on a very sound footing financially and with a squad worth many, many millions. Most important of all, however, is the men who have followed him continue to keep the club safe and strong enough to deal with difficult times when they arrive.

The loss of Rangers from the top division has cost Celtic millions. But Peter Lawwell said from the outset that the structure of Celtic meant they could cope with this.

Of course, qualifying for the Champions League provided a huge boost to the club's finances this season, as is reflected in the accounts.

But they can't budget for this, which is why Fergus's financial legacy and the stability it provides has never been more important.

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