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Biog
David Smith was appointed to the Board of Directors on 26 Feb 1992. His appointment as a Non-Executive Director was an attempt by Kevin Kelly to deflect some of the serious opposition headed the board’s way and attempting to show that they were increasing the financial acumen of the Board to deal with the increasing number of issues. On 1 Apr 1992 he was further appointed to Vice-Chairman.
A 47 y.o London-based accountant originally from Brechin, Smith made his name in the City when his Isosceles Group bought out the Gateway chain of supermarkets. He was appointed for his contacts and knowledge and primarily to raise funds and support for the Board’s plans for the Cambuslang Superstadia.
He was also the first non-Catholic Director of the Board, something that pathetically some of the media made something out of. They could have more simply noted that the club was tightly managed by a select number of families and that was the reason and nothing more, although in fairness there have been remarks that certain staff such as Jock Stein were limited in promotion to manager or board due to religion. Yet whenever tested the respective people were promoted, so there was no hard & fast rule.
His appointment was described by Kevin Kelly (an appointment which hung on the casting vote of KK) as “….the boldest and most imaginative appointment ever made to a Celtic Board.” It did signal a change for the board which was welcome and a clear sign that the old families were in dire need of external help. The old custodians (as they liked to brand themselves) were incapable of managing the club alone.
With the implementation of the findings of the Taylor Report, the ground had to be rebuilt. The Cambuslang plans were an attempt to get the stadium rebuilt when the club and the Board were bankrupt effectively – getting somebody else to pay for the rebuilding. When the news that the £20million of investment expected in the project from Superstadia Ltd and Gefinor was not going to happen, the whole premise of David Smith’s presence as a Director collapsed.
The situation was further compounded by a cash flow situation at the club. When fans began to boycott attending games match day revenue declined. Smith denied that he had misled the Board over the financial position of the club
David Smith was sacked by Kevin Kelly on 3rd March, 1994, along with the company secretary Chris White. David Smith’s sacking is inextricably linked to the takeover of the club by Fergus McCann.
In fairness to the man, he came onto the board late, and can’t be held responsible for the history behind the ineptitude of the board. What he likely did was help to prop them up for a while longer than the old Biscuit Tin board should have survived. Said to be a big Celtic fan, likely the appointment was a move he couldn’t say no to.
Overall, it was an appointment that didn’t work out but in retrospect it was akin to bailing out the Titanic using a bucket. Can possibly respect his attempt at the club, and he shouldn’t be held against in the same way that various other of the luminaries of the time are, a more neutral view is likely most fair.