Euro snub concerns Smith

Smith: Bad news

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Walter Smith admits the decision to strip Scotland of a UEFA Champions League place could prove costly.

European football's governing body have announced that the Scottish Premier League will be awarded just one berth in its premier club competition from 2012.

Even that place will be in the qualifiers, with the SPL champions far from guaranteed of a spot in the lucrative group stages.

As the country's two biggest clubs, Old Firm giants Rangers and Celtic have been rocked by the news.

They rely heavily on the income generated by continental competition and Gers boss Smith feels the financial shortfall they now face could be catastrophic.

"It's hard enough as it is and this is obviously disappointing from our own country's point of view," he said.

"It's happening to big clubs throughout Europe and a lot of big clubs in smaller countries are suffering.

Pressure

"In Scotland, for both Rangers and Celtic, we have shown recently just how much Champions League involvement means to us in a financial sense in terms of keeping the clubs going.

"It puts each of the clubs under pressure because there isn't even automatic qualification for one of the clubs either.

"The penalties for not getting to the Champions League are big.

"Yes, you could say on one hand it's our own fault because we have to have the proper co-efficient to get there.

"But, unfortunately, it needs financial wherewithal to actually achieve that as well. It's a very difficult aspect for each of the clubs to adjust to.

"It's something I feel Uefa have to look at. It's not only Rangers and Celtic - other big clubs in small countries are finding it extremely difficult to handle the circumstances they are being placed in financially.

"If you look at the financial implications for both clubs, who announced their mid-term accounts over the last few days, you see the need for the Champions League."

Accounts

Rangers' monetary troubles are well-documented and Smith admits Uefa's decision has come as another unwelcome body blow.

""I don't know what is going to happen in the next season. It would obviously have had a detrimental effect [not qualifying for the Champions League]," he added.

"Celtic's accounts have shown that the need for the Champions League is there for everyone to see.

"From a financial point of view, the consequences of not having it are being handled by Celtic at the present moment.

"Whether Rangers could handle it or not, we will just have to wait and see."