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Celtic Face Financial and Squad Challenges After Champions League Exit

Published: August 26, 2026, 3:00 pm

Scottish champions Celtic are set to endure a second consecutive season without Champions League football following a devastating exit from the competition. After holding a four-goal aggregate lead, the team suffered a 5-1 defeat on the night against Austrian side LASK, resulting in a 5-4 aggregate loss. This failure is projected to cost the club approximately £40 million ($55 million), though they will transition to the second-tier Europa League.

Impact and Assessment

  • Financial Consequence: The club faces a loss of roughly £40 million in expected revenue from the league phase.
  • Recruitment Challenges: Manager Martin O’Neill noted that Champions League qualification is vital for attracting top-tier talent.
  • Squad Status: O’Neill admitted the current roster is far from complete and requires significant strengthening.
  • Managerial Responsibility: The 74-year-old Northern Irishman accepted full responsibility for the team’s performance.
  • Captain’s Verdict: Callum McGregor labeled the performance passive and stated the players must take accountability.
  • Upcoming Fixture: The team returns to domestic action this Saturday against Falkirk.

Manager Martin O’Neill, who recently returned to the club after guiding them to a dramatic title win last season, acknowledged the gravity of the situation. “The qualification for the Champions League is major, it’s major in every aspect,” he stated. O’Neill, a two-time European Cup winner as a player with Nottingham Forest, conceded that the loss exposed clear shortcomings in his squad. He emphasized that while he takes responsibility for the result, the team is currently a “million miles from the finished article.”

Captain Callum McGregor offered a more scathing assessment of the defeat. Speaking to Amazon Prime, the 33-year-old midfielder expressed frustration with the team’s lack of intensity. “We were passive all night. We looked scared to go and win the game,” McGregor remarked. He insisted that the players must stop looking for excuses, noting that even after taking a 1-0 lead, the team failed to settle into the match. “You can’t lose by that margin then look for excuses elsewhere,” he added, stressing that the upcoming matches will serve as a test of the squad’s character.

Celtic, who currently sit at the top of the Premiership with six points from two matches, will look to move past this disappointment when they host Falkirk on Saturday. The club’s focus now shifts to domestic recovery as they attempt to bounce back from a result that has left both the management and the playing staff under intense scrutiny. The report also notes that o’Neill, who missed the beginning of the domestic campaign after undergoing a hospital procedure for a “couple of ailments rolled into one”, was more measured in his assessment than captain Callum McGregor. The report also notes that who has spent his entire career at Celtic apart from an early loan spell with English side Notts County, delivered a far more critical verdict, the 33-year-old midfielder. The report also notes that we got what we deserved,” he told Amazon Prime.

Important Details

  • The report also notes that financially, for prestige, but we have to pick ourselves up. That’s my responsibility again to do that.
  • The report also notes that i think I said last week that if you could qualify for the Champions League there would be players wanting to come on that basis.
  • The report also notes that we know that we are a million miles from the finished article,” said O’Neill, who led Celtic to the 2003 UEFA Cup final during his first spell in charge.
  • The report also notes that that’s absolutely true. I think we thought that anyway.