Celtic hit by £11m blow after landing £38m
Celtic have missed out on more than £11million after being knocked out of the Champions League and more financial pain is set to follow, sources have told Football Insider.
The Scottish champions lost on penalties to FC Kairat in the play-off round on Tuesday (26 August), having drawn 0-0 on aggregate over the course of the two legs.
Celtic’s defeat to the Kazakhstan Premier League champions means they will now be playing in the Europa League this season.
The second-tier competition is significantly less lucrative than the Champions League following Uefa’s changes to its structure over the past year.
Celtic landed around £38.2million in prize money from the Champions League last season, where they were narrowly beaten 3-2 on aggregate by Bayern Munich in the knock-out round play-off.
How much could Celtic have earned from the Champions League?
Qualification for the Champions League this time around would have landed Brendan Rodgers’s side a guaranteed £16.1million entry fee, with that figure dropping to £3.7million in the Europa League.
Meanwhile, Scotland’s Coefficient reported on Tuesday Celtic would have banked an extra £8million from the value pillar system in the Champions League, while it’s worth just £5.2million in the Europa League.
However, the Glasgow giants have received a £3.7million payment after losing in the play-offs against Kairat.
In total, the Hoops would have been in line for at least a £24.1million payout from the Champions League, while they will receive £12.6million from the Europa League and their loser fee.
That means Rodgers’s side are going to be down £11.5million on what they would have earned in the elite European competition this season.
Celtic board facing questions after crushing blow
Questions have been asked about Rodgers and the Celtic board following the defeat against Kairat.
It’s so far been a quieter summer transfer window at Celtic Park than many expected despite Nicolas Kuhn joining Como for around £16.5million.
The Hoops have only spent around £3million on the signings of Shin Yamada, Benjamin Nygren, Hayato Inamura, Kieran Tierney, Ross Doohan and Callum Osmand, while Jahmai Simpson-Pusey has joined on loan.
However, Michel-Ange Balikwisha is having a medical in London on Wednesday (27 August) ahead of his move to Celtic from Royal Antwerp.
The deal is expected to be announced soon after the two clubs have agreed a deal for the 24-year-old forward.
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