CELTIC'S chairman, Fergus McCann, was yesterday fined £42,000 by FIFA.

McCann and defender Alan Stubbs were fined by the world ruling body for using the agent Neil Rioch in the player's £3.5 million move from Bolton to Celtic earlier this summer.

FIFA investigated a complaint from a Scottish agent that Rioch was not licensed to conduct negotiations and upheld the charge.

But now McCann, who has 20 days in which to lodge an appeal against the decision, insists Rioch should pick up the tab instead of the Parkhead club.

"We acted in good faith and I am hoping that Neil Rioch will see that Celtic should not be held responsible," said McCann.

Stubbs, who also has the right of appeal, looks set to pay his £28,000 fine and even joked: "The rest of the players are having a whip round for me!"

FIFA announced their decisions yesterday after their Player Status Committee met in America, where officials are at the Olympic Games.

They found against Rioch who has apparently not lodged the required money bond with FIFA to allow him to conduct transfer business. He claimed he did the Stubbs deal under a licence of another agent, Phil Morrison.

"Celtic were told that any repeat could lead to a prohibition of future transfer activity for a period of time," said information officer Andreas Herren.