'It's a complete disaster' - Rangers and Celtic face 'big problem' after new blows
That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider that the Old Firm rivals' exits from Europe will have further repercussions.
Despite going four goals up against LASK in their Champions League play-off final, the Hoops went on to conceded five goals away from Celtic Park.
Then, less that 48 hours later, Derek McInnes' side were embarrassed when being knocked out of Europa Conference League qualifying by Czechia side Jablonec.
Both of Scotland's biggest teams are now without European football for the season, and it could impact more than just their finances north of the border.
Deep runs by Celtic and Rangers can massively boost the country's coefficient, meaning there is more chance of team's qualifying for European competition.
Rangers and Celtic's failures to cause further frustrations
For example, Scotland usually has five teams representing them in Europe, while the Premier League was increased to nine in 2025-26.
Speaking exclusively to Football Insider, Borson explained that the Hoops and Gers dropping out of European competitions has become a "big problem" for other teams in Scotland.
"It's also the other issue that Scottish clubs have had generally, the coefficient has just gradually eroded down over time," he said.
"This has become a big problem for Scotland generally, whereas Celtic and Rangers used to be robust providers of some coefficient contribution.
"We know that it's become much more difficult over last few years and that starts to compound because then it becomes harder for them to qualify.
"They get fewer places. They, therefore, can generate coefficient less easily, and they're in the lower competitions, so it's very bad news.
"Nobody at Celtic would, could even, argue that it's not a complete disaster really when you're 4-0 up. And the financial impact will be very, very large in this current season.
"There aren't many ways to say it beyond that. They are going to lose a lot of money.The only thing you can maybe get yourself comfortable with is that they'll sell out Celtic Park for all of the Europa League games, right?
"This is a club that can always fill the stadium. So that's the good news. But overall, it's really, really bad."
Scottish FA leave Rangers and Celtic fans reeling
The bad news only continues to mount up in Scotland, with the Scottish now rubbing salt into the wounds at Celtic Park and Ibrox.
The Old Firm rivals must now play their next Scottish Cup matches behind closed doors, being forced to pay £100K to their opponents for that game.
Unsurprisingly, this comes after the Old Firm riot last season, when fans clashed on the pitch following the Hoops' penalty shootout victory.
With both also being handed suspended sentences, the clubs need to ensure that their fans are much better behaved, or run the risk of further punishment.