Michael Nicholson has outlined the importance of continuing participation in the Champions League.
After a five year absence from UEFA’s top competition Celtic are back in the big time with a home match against Real Madrid the perfect fixture to herald a new start.
Under Peter Lawwell Ferencvaros, Cluj and AEK Athens knocked Celtic out in qualifiers, in July 2021 Dominic McKay was barely in the door when Midtjylland ended interest at the Second Round stage but last season’s SPFL title win earned direct qualification to the group stage.
The exact financial rewards of the Champions League are difficult to determine but in ball park figures participation could bring in around £40m while also increasing the value of the playing squad.
Taking revenue above £100m (last season the club had turnover of £88.2m) would put the club in a position to make significant improvements with Nicholson confident that from season 2024/25 Champions League prize money will rise further with four home matches in groups of eight.
In today’s statement relating to income for the year ending 30 June 2022, Nicholson explains:
In May 2022, UEFA announced that it had approved a new Champions League format post 2024, involving an expansion to 36 teams, a shift away from the traditional group stage format to a single league phase and an increase to eight matches from six in the initial phase. Similarly, under the proposals the Europa League and Conference League would also be expanded to accommodate 36 teams, with eight matches and six matches respectively in the initial phase. There is an expectation that, once implemented, this would lead to increased media rights, which would in turn benefit all participating clubs, and we would see this as a positive development for European football as a whole.
UEFA have still to announce the qualification criteria for the revised Champions League with some discussion of wild-card places based on historic performances in the competition rather than the previous season’s domestic placing.
The winners of the SPFL this season go straight into the UCL Group Stages next season. That’s what they said!
Must be great being a suit. Just beavering away at your desk day after day, month after month. And then you come out and say something. And everybody listens. And back you go, beavering away at your desk. Day after day, month after month!