Scottish Champs Celtic Counting Losses After Latest Champions League Misfire

14th August 2019

The Scottish champions exited the third qualifying round 5-4 on aggregate having thrown away a promising position not just after a 1-1 draw in Transylvania last week

James Forrest of Celtic F.C. (C) vies with Besim Serbecic (R) of F.K. Sarajevo during the UEFA Champions League first round qualifier match between Sarajevo and Celtic Glasgow, in Sarajevo, on July 9, 2019. PHOTO | AFP
James Forrest of Celtic F.C. (C) vies with Besim Serbecic (R) of F.K. Sarajevo during the UEFA Champions League first round qualifier match between Sarajevo and Celtic Glasgow, in Sarajevo, on July 9, 2019. PHOTO | AFP
SUMMARY
  • Celtic were left counting the cost on and off the field after exiting the Champions League in mid-August after a thrilling but agonising 4-3 home defeat to Romanian champions CFR Cluj
  • Instead, they must now win a playoff just to reach the Europa League group stages for the consolation prize of less than a third of that bounty
  • However, it is the continuing blow to Celtic's prestige rather than the balance sheet that is of more concern to fans, who have grown frustrated at diminishing performances in Europe as the club has piled up cash reserves

LONDON, United Kingdom- Celtic were left counting the cost on and off the field after exiting the Champions League in mid-August after a thrilling but agonising 4-3 home defeat to Romanian champions CFR Cluj.

The Scottish champions exited the third qualifying round 5-4 on aggregate having thrown away a promising position not just after a 1-1 draw in Transylvania last week, but having led twice on the night at Celtic Park on Wednesday.

"We had the lead and we've let it slip through our own decision making," bemoaned Celtic manager Neil Lennon.

"We've only ourselves to blame. If you don't do the basics defensively well enough then at this level you get punished. We've let it go."

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Celtic could have looked forward to a financial boost of around £30 million ($36 million) just for qualifying for the Champions League group stages had they clung on to the lead they held 10 minutes from time against Cluj and beaten Slavia Prague in the final qualifying round.

Instead, they must now win a playoff just to reach the Europa League group stages for the consolation prize of less than a third of that bounty.

However, it is the continuing blow to Celtic's prestige rather than the balance sheet that is of more concern to fans, who have grown frustrated at diminishing performances in Europe as the club has piled up cash reserves.

Celtic's most recent accounts showed £38.6 million in the bank even before receiving compensation paid from Leicester for manager Brendan Rodgers in February and the sale of Kieran Tierney to Arsenal for a Scottish record £25 million.

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Those reserves have been accumulated on Rodgers' reaching the riches of the Champions League group stage in his first two of his three seasons in charge and the consistent sale of Celtic's best players.

Tierney followed the path forged by Victor Wanyama, Virgil van Dijk and Moussa Dembele in making his name in Glasgow before club record fees were secured in their departures.

Yet Celtic are now in a downward spiral. By not replacing that departed star quality adequately, they have missed out on Champions League cash for two successive seasons and will find it even more difficult to return to that promised land in the coming years unless more money is reinvested in the squad wisely.