Financial repercussions for Celtic and Rangers after European playoff defeats
Celtic’s Champions League exit means around £30m in lost revenue. That Conference League exit will also have major financial repercussions at Ibrox…
Celtic supporters were given something to smile about after a disastrous night in Linz on Tuesday night. That of course was seeing our bitter rivals the Rangers crash out of the Conference League playoffs, a result that means they have no European football this season.
In a week that the Scottish media have focused on Celtic’s elimination from the Champions League and missing out on the massive financial rewards that come with it, you would expect them to take aim at the latest Ibrox club in regards to their financial affairs, but don’t hold your breath.
So let’s break down the situation on their behalf in regard to the massive implications hanging over the Ibrox club.
Last January then Ibrox boss Danny Rohl, was allowed to splash out in excess of £20 million on his squad, with the much publicised carrot of Champions League qualification available via winning the title.
They of course, went on to record an embarrassing third place finish, thus denying them entry to a multi million pay day, and devoid of the opportunity to qualify via the play offs due to finishing outside the top two.
Despite being denied the opportunity to the Champions League millions, Ibrox bosses continued to spend allowing new boss Derek McInnes to spend well in excess of £20 million, only for the club to fall out of not only the Europa, but the Conference League also, both at the playoff stages.
That’s £40 million that’s been spent since January, and with no European football or no big money outgoings swelling the Ibrox coffers, they are very much embroiled in a difficult financial situation.
For a club who constantly post massive losses, and are forever announcing share issues in a bid to raise cash, this is a very dangerous situation for them to be in.
The SMSM are quick to highlight our financial plight due to Celtic’s failure to reach the Champions league group stages, but we are still run in a competent financial manner, and have accumulated massive transfer incomings, as well as Europa league revenue heading our way. Something that will keep our finances in a good shape.
Down river the financial implications of zero European football and no midweek football at all while European matches are played will be significant. Celtic don’t plan for Champions League income but Rangers must surely have planned for some participation, even if only in the third tier Conference League. That’s not happening and will leave a hole to fill.
