Despite their exit at the hands of Slovenian side Maribor, Celtic are set to receive a £212,000 Champions League bonus. The news comes after UEFA have decided to penalise Manchester City for breaching financial fair play rules (FFP).
A total of nine clubs were fined for breaching FFP rules including Paris St Germain and Zenit St Petersburg along with the defending Premier League champions. A total of 70 clubs who reached the Champions League and Europa League group stages are set to each receive £212,000 from the financial penalties, according to the Daily Mail.
Scheme aim to reward clubs who fall in line
The deal aims to reward clubs that act in compliance with the FFP regulations and penalise clubs that do not.
The arrangement was decided during talks between the European Clubs’ Association and UEFA with ECA chairman Karl-Heinz Rummenigge who said: ‘It was an agreement between UEFA and the clubs that it was money belonging to the clubs.’
UEFA president Michel Platini addressed the ECA conference in Geneva where he spoke on the implementation of the FFP regulations saying: ‘We will see whether any imperfections can be ironed out and whether there is room to further improve the system.’
Celtic failed to qualify for the group stages of this years Champions League. The Scottish club will instead take part in the Europa League. The implications of Celtic's failure to qualify for the Champions League results in a considerable financial loss for the club however the £212,000 may provide some momentary relief.