Celtic's failure to reach the Champions League group stage last month has resulted in a major financial shortfall, with former manager Gordon Strachan putting the loss between £25 million and £40 million. Strachan, who led the club to the last 16 two decades ago, made the comparison that such a sum would equate to £200 million for an English Premier League club.
"Oh, it’s certainly financially damaging for this season, because I think that the quotes say the losses are between £25 million and £40 million," Strachan said. He spoke to Grosvenor Sport in an interview conducted on behalf of Record Sport. The 69-year-old stated that the current standard for Celtic is qualifying for the Champions League group stage but not progressing further, with the Europa League now representing the level for the club and Scottish football.
Collapse in Linz
The exit came in dramatic fashion after Celtic had built a commanding 4-0 aggregate lead over Austrian side LASK. Callum McGregor's goal in Linz three weeks ago seemed to have secured safe passage. However, a second-half collapse saw the tie turn, ending Celtic's hopes and triggering the significant revenue loss. Strachan managed Celtic twenty years ago, reaching the Champions League last 16 in both 2007 and 2008, where they were eliminated by AC Milan and Barcelona respectively.
He pointed to the quality of recruitment as a key factor. "It’s about the quality being brought in," Strachan said. The financial impact is felt even as Celtic maintain a strong domestic position, sitting first in the Premiership with 18 points from six perfect wins. Their lead at the top is five points over Rangers, though that gap was reduced by a 3-0 defeat at Ibrox last weekend.
European context
The early European exits for Scotland's clubs this season have been widespread, with Rangers, Hearts, Hibernian and Motherwell all eliminated from continental competition. Celtic's European campaign now continues in the Europa League under manager Martin O'Neill, beginning with a group stage match against Ferencvaros in Glasgow tomorrow. The club's recent form shows four wins from their last five matches across all competitions, with the sole loss coming against their city rivals. Check the upcoming schedule on our fixtures page.
Despite the domestic dominance, the financial ramifications of missing out on Champions League football are stark. Strachan's assessment shows the high stakes of European qualification for Scottish champions. Celtic's next match is away to Dundee United on 30 December, with the Terrors currently 11th in the table.
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On September 17, manager Martin O'Neill challenged his players to prove they have the character to play for Celtic. O'Neill said the 3-0 defeat at Ibrox and the collapse against LASK were tests. "It's about wanting to have what it takes to be a Celtic player," O'Neill said. The manager confirmed forward Camilo Duran is available for Thursday's Europa League opener against Ferencvaros despite missing a training day. Celtic, who are first in the Premiership with 18 points from six wins, host Rangers in the league on Sunday.
