Celtic have already earned a major financial windfall from their efforts in the UEFA Champions League this term.

The Parkhead club were guaranteed €18.62m for their participation in the revamped league phase alone.

However, thanks to results on the pitch from Brendan Rodgers' men, the club have banked significant bonuses from UEFA.

The Champions League offer bonuses to clubs for wins and draws in the league phase with further incentives for league phase rankings after all matches have been played.

Celtic have won twice, drawn twice and lost once in the tournament so far, meaning they have earned four performance bonuses already with three matches still to go.

For wins clubs earn €2.1m while draws see clubs paid a bonus fee of €700k. For Celtic, that means bonuses totalling €5.6m on top of their guaranteed participation fee.

On top of that, Celtic will receive a minimum payment of €275k, which is increased by the same figure for every position above bottom of the league phase they finish.

Should Celtic progress into the knockout play-off round then a bonus €1m would be secured with €11m up for grabs for clubs reaching the last 16 of the Champions League.

Going purely on money already secured for Celtic, the club have already earned £20.3m.

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Here, we calculate the guaranteed income for Celtic through participation and win/draw bonuses - this does not include any estimate for the league phase final ranking position...

Celtic Champions League earnings laid bare

League phase participation - €18.62m (€17.87m down-payment and €750k balance).

Win bonuses (Slovan Bratislava & RB Leipzig) - €2.1m x 2 = €4.2m

Draw bonuses (Atalanta & Club Brugge) - €700k x 2 = €1.4m

League ranking bonus - minimum €275k, increased by the same amount for every placing higher than bottom so will be higher when positions finalised.

GUARANTEED TOTAL SO FAR: €24.5m (£20.3m)

Celtic Champions League prize money

League phase participation - €18.62m (€17.87m down-payment and €750k balance).

Performance bonuses - €2.1m per win, €700k per draw.

League ranking bonus - Each club will earn at least €275k for their league phase campaign - for every position above 36th, another €275k will be added to the bonus.

Furthermore, clubs ranked 1-8 at the end of the league phase will receive an additional €2m with clubs 9th to 16th pocketing €1m.

Progression bonuses - qualification for the knockout round play-offs: €1m per club
− qualification for the round of 16: €11m per club
− qualification for the quarter-finals: €12.5m per club
− qualification for the semi-finals: €15m per club
− qualification for the final: €18.5m per club
- competition winners receive an additional€6.5m.