By Alex McLeish

30th Jul, 2021 | 5:00pm

McLeish delivers dire Celtic warning - the 'pain' is only just beginning for Hoops faithful

Celtic could face years of “pain” if the board do not provide cash to splash in the transfer market, according to Alex McLeish.

The former Scotland boss, speaking exclusively to Football Insider, suggested the Hoops would have to dip into their reserves after the “financial blow” of being knocked out of the Champions League qualifiers.

Celtic lost 2-1 away to Midtjylland on Wednesday to end their hopes of qualifying for the group stages to an end.

They will drop into the third round of qualifying for the Europa League to play Jablonec.

Despite the economic hit of not playing among Europe’s elite, McLeish suggested Celtic would still have transfer funds available.

However, he warned the Hoops would suffer if they did not commit to spending on new recruits.

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“It is a blow financially,” McLeish told Football Insider assistant editor Russell Edge.

“You would have thought, over the period of time they’ve dominated, they would have reserves for a rainy day. I don’t mean players, I mean financial reserves. This is that time.

“Otherwise it looks like they’re going to be in a bit of pain over the next year or two.

“This is when it gets harder for the teams who don’t have unlimited budgets. That includes Scottish football, let’s face it.

“I guess Ange will be looking for support from Celtic. It does look a young back four, they have had their problems there.

“When you don’t get your preparation right for a new season coming, then it’s very, very difficult to get your season underway.”

Celtic have already signed Kyogo Furuhashi, Carl Starfelt, Liel Abada, Liam Shaw and Osaze Urhoghide this summer.

They also sold Kristoffer Ajer for a fee worth a potential £17.5million.

In other news, Celtic have been told to swoop for a Spurs player they wanted last year after confirmed news.