Where Celtic rank in Champions League table for overperforming clubs based on squad value

In securing a top 24 finish in this season's newly revamped Champions League, Celtic have qualified the knockout stages of the competition for the first time since 2013.

Brendan Rodgers' side have secured a place in the play-off round where they will meet either Real Madrid or Bayern Munich over two legs for a place in the last 16. Celtic will discover which of the two European giants they will face when the draw for the Champions League knockout play-off round is made this Friday, January 31 at 11am.

A record of three wins, two draws and three defeats was enough for Celtic to claim 21st place in the Champions League standings, finishing one point and one place ahead of Manchester City.

But how did Celtic rank in terms of their performance based on squad value?

Celtic players line up ahead of their Champions League meeting with Aston Villa. (Photo by JUSTIN TALLIS/AFP via Getty Images) | AFP via Getty Images

Rodgers made a point after the 4-2 defeat to Aston Villa earlier this week that Celtic are competing against clubs with vastly superior spending power in UEFA's elite competition.

"I am just proud of how we have performed," the Celtic manager said. "Scotland gets a wee bit of stick for its football but you can clearly see teams have the courage to play despite having nowhere near the resource level of teams in the Premier League."

For comparison, Villa's squad is valued at around €585.65million, according to the boffins at transfermarkt.co.uk, while Celtic's squad is priced much lower at €121.65m.

The same website carried out a study analysing which clubs performed best in the Champions League league phase when comparing squad value to final position, and which clubs performed worst.

Celtic were found to place fourth in the standings for overperforming clubs, with their 21st placed finish found to be eight positions higher than their market value position among the 36 teams in the table.

Lille were ranked top of the charts for this particular metric, the French side having secured direct qualification for the last 16 with a seventh-placed finish, 16 places higher than projected based on squad value. Brest and Atletico Madrid were the only two other clubs to rank higher than Celtic.

Manchester City topped the list of underperforming clubs with their 22nd place finish considered to be 21 places below their financial power with their squad valued at a whopping €1.29billion.

RB Leipzig, who Celtic defeated 3-1 in the league phase, were second worst underachievers after finishing down in 32nd place with a €520.25m squad, while Celtic's potential play-off opponents Real Madrid ranked fourth worst with their €1.23bn squad finishing in 11th place.