The Celtic Fans Collective has claimed that the trajectory of the entire club has become 'alarming' and that the board lack 'humility'.

Already reeling from losing to LASK in the Champions League play-off, Martin O'Neill's side entered the international break on the back of two defeats to Rangers and a reverse to Ferencvaros in the Europa League.

Two days after the veteran manager publicly admitted he was considering his future, the impact of the club also missing out on the Champions League last season was laid bare when it published its financial results to June.

On top of a £4.8million post tax loss and a 22.7 per cent decrease in revenue, Celtic's cash reserves were down from £77.3million to £66.4million.

The figures were released as chief executive Michael Nicholson pledged to support O'Neill with interim chairman Brian Wilson claiming the disastrous appointment of Wilfried Nancy could have worked 'in other circumstances'.

However, the Collective, an umbrella group of supporters, have taken aim at the pair and said that supporters would 'not be fooled'.

A statement read: 'Anger at recent shambolic results on the park in big games was compounded yesterday by Celtic plc's latest financial results.

'The statements from the "interim" Chairman and CEO typically lacked humility and did little to improve the mood. Supporters are not fooled.

'The stark reality is that Celtic FC is underachieving across the club and the trajectory is alarming.

'We have highlighted the signs of this decline since our formation. We will continue to hold the club to account and fight for the standards that the Celtic support deserves.'

It was also revealed that members of the Collective met with board members this week.

'Celtic Fans Collective representatives met with Celtic FC yesterday to discuss the Club's fan engagement strategy,' the statement added.

'We also took the opportunity to express the deep frustration at the continued mismanagement of the Club. A full update will be shared with members shortly.'

While Celtic are still top of the Premiership by two points, there are growing concerns about how the season is unfolding.

With O'Neill yet to confirm if he will remain in charge, the side face matches against Motherwell, Benfica and Hearts.

Celtic have been asked to comment.