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One of the main players in the 1994 Celtic takeover has told how he was shocked to discover the Parkhead club owned shares in RANGERS just moments after seizing control.

Financial analyst David Low was Fergus McCann's right-hand man as the Canadian pulled off his famous overhaul of the Parkhead board and saved the club from financial ruin.

Speaking in a podcast produced by the Celtic Star , Low has given an insight into the dramatic events surrounding the takeover 24 years ago that saw the biggest shake-up in the club's fabled history.

A long-running battle between the incumbent board and possible buyers had alienated a fan base who feared for their club's very existence.

But, on March 4 of that year, the war ended with Brian Dempsey famously declaring "The Rebels have won" as he and McCann, along with huge input from Low, seized control of Celtic away from Michael Kelly and Co.

Speaking on the podcast, Low provides a first-hand insight into the share deals which saw the club change hands and the sheer scale of the job McCann and his team encountered after taking over.

McCann, he said, was determined not to hand over a penny to the Kelly dynasty but in the end was convinced that it was the only way for shares change hands.

And he reveals his shock at discovering, not long after the deal was finalised, that the Hoops owned 5000 shares in their arch rivals.

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He said: "One of the first things I found was that Celtic owned 5000 Rangers shares. So just like Craigy (former Rangers owner Craig Whyte) I sold them - only his were Arsenal shares.

"I remember thinking 'what a mess' because there had been no opportunity to do any due diligence. We didn't really know what had been bought.

"We didn't have any seats for the Taylor Report. We had to hire Hampden.

(Image: Daily Record/Alan Peebles)

"It was a huge job to get done. I ended up staying as a consultant and had to do roadshows in front of hostile audiences.

"Everyone wanted to just do what Rangers were doing which was borrowing money and spending money you don't have.

"Fergus got booed because he was making all these tough decisions but at the end of the day you had to have the infrastructure in place.

"The stadium was needing built and only when that was finished and paid for would the money go into the team."