By Kieran Maguire

1st Aug, 2021 | 4:00pm

Kieran Maguire: Celtic could soon by hit by another crushing blow of £15m

It is “absolutely imperative” Celtic qualify for the Europa League – failure to do so could cost them as much as £15million in TV money.

So says finance guru Kieran Maguire, speaking exclusively to Football Insider after the Hoops were dumped out of the Champions League.

Ange Postecoglou‘s side fell to a 3-2 aggregate defeat to Danish champions FC Midtjylland in the second qualifying round on 28th July.

Celtic will now face FK Jablonec in the third qualifying round for the Europa League.

Maguire observes that Scottish teams that featured in the Europa League last term made £4m in Uefa in broadcast income.

And the spreadsheet expert insists that Celtic’s TV money could fall to the same figure after earning £19m in the last financial year.

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He told Football Insider correspondent Adam Williams: “It’s absolutely crucial that they quality.

“The broadcast income they get from the SPFL isn’t much in the grand scheme of things.

“Celtic got £19m in broadcast income last financial year, Rangers got £13.5m. The next highest were Aberdeen and Hearts at £4m.

“They both made a little bit of progress in the Europa League. So if Celtic don’t get into the Europa League, they will prbably drop to single figures in terms of millions.

“Given that they made £40m from their last foray into the Champions League, dropping to single figures would hit them hard.

“It will also hit them in terms of gate receipts, of course.”

In other news, Parkhead icon expects Celtic to sign three senior stars after £4m-plus deal agreed.