Celtic will be in line for a massive windfall should they reach the Champions League group stage.

UEFA has announced prize money for competing in the Champions League, Europa League and Super Cup will increase by £787m to £2.6bn this season.

Qualification for the group stage of Europe's premier tournament is thus worth more than ever.

The 32 clubs that reach the group stage will receive an allocation of £13.34m each.

Performance bonuses are also paid for each match which amount to £2.36m for a win and £787k for a draw.

Reaching the round of sixteen would see a further £8.31m enter Celtic's coffers, with similar windfalls for each progression thereafter.

Further payments will be made based on team's coefficient ranking, which is based over a ten-year period.

The lowest ranked group-stage side will receive £970k, with the same amount added on to each higher position.

In addition, Champions League competitors will receive a share of £255.5m, which is distributed based on the worth of each national television market.

The reward for taking part in the Europa League is not quite as impressive, but Rangers, Aberdeen and Hibernian could all make more than was previously available.

Clubs competing in the Europa League next season will receive a share of £490m, an increase from £350m last season.

As a result, should any Scottish side reach the group stage of the Europa League they will receive a fee of £2.56m, with a further £0.5m for each win and £170k for each draw.