By Kevin Phillips

28th Dec, 2020 | 1:07pm

'It's A Big Blow For Celtic' - Exclusive: Phillips reacts to £3m+ financial reveal

Celtic will be hurting after their revenue drastically dropped as a result of their Europa League exit.

That is the view of 2000 European Golden Shoe winner Kevin Phillips, speaking exclusively to Football Insider about the financial impact of an unsuccessful European campaign for the the Hoops.

Analysis from Football Insider found that the Scottish Premiership champions would earn a guaranteed sum of just £3.7million as a result of their efforts in Europe this season.

It represents barely 10 per cent of what the club would expect to earn from Uefa prize and distribution manager from a Champions League group stage campaign.

Neil Lennon’s side received greater financial reward last season as they progressed further in the competition, reaching the Round of 32 as opposed to the group stages.

When asked by Football Insider if the multi-million-pound drop in revenue would be a big concern for the club, Phillips said: “That is a big drop in revenue for any club.

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“Celtic rely so much on their European campaign and their fans coming into that stadium.

“They have such a big support and it generates a big income. That drop will definitely affect them. Is that having a knock-on affect on the pitch?

“It is a big blow for any club. I was listening to the Peterborough chairman today and he was disappointed by the government’s decision on supporters attending games.

“Clubs all over the world are suffering a loss of revenue and it will definitely be hurting Celtic.”    

In other news, Celtic tipped to seal two new signings in January amid £35million claim from chief executive Peter Lawwell.