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CELTIC’S Champions League exploits have earned them a place among the 40 richest clubs in world football.

But financial experts Deloitte, who compiled the annual Football Money League, warned the SPFL’s meagre TV deal means the Hoops are banging their heads against a glass ceiling and will struggle to gatecrash the billion-pound top 20.

The study for season 2012-13 showed Celtic enjoyed a bumper 48 per cent increase in revenue to £75.8million.

Much of that was attributed to their progress to the last 16 of Europe’s elite competition and strong fanbase, with Parkhead packed out for a string of glamour ties.

However, they’re still left trailing in the financial stakes by the game’s superpowers, with the top 30 all generating more than £100m.

Spanish giants Real Madrid took the No.1 spot for the ninth consecutive year thanks to income of £444.7m.

Manchester United dropped out of the top three for the first time – Bayern Munich

leapfrogging them with earnings £369.6m – and Liverpool failed to make the top 10 for the first time since 1999-2000.

Deloitte only compile placings for the 20 wealthiest clubs but confirmed Celtic are in the top 40. Despite the Parkhead outfit’s domestic dominance though, broadcast income is the main issue hampering their ability to keep pace with the world’s highest earners.

SPFL TV revenue is less than one per cent of the English top flight’s while in La Liga, Real Madrid earned £161.4m from broadcast rights alone.

A Deloitte spokesman said: “Celtic are among the 40 highest revenue-generating football clubs in the world, having achieved £75.8m in 2012-13, an uplift of £24.5m (48 per cent) on the previous year.

“The revenue increase was driven by the club’s progress to the knockout stages of the Champions League.

“This delivered substantial UEFA central distributions and contributed to an increase in match-day revenues due to a higher number of home games at Celtic Park, with a total of 30 in 2012-13 compared to 24 in the previous season.

“While domestic league broadcast contract values are a fraction of those for leagues in larger European markets, restricting Celtic’s ability to compete for a top-20 position in the Money League, the club continues to benefit from a strong supporter base, with an average home league match attendance of 46,754.”

England boasted six clubs in the top 20 – both Manchester teams, Chelsea, Arsenal,

Liverpool and Spurs.

This year’s findings, which exclude player transfer fees, show a total combined revenue for the top 20 of a massive £5.4billion (up eight per cent).

It includes two new entries – Turkish pair Galatasaray (16th) and Fenerbahce (18th) – from clubs outside Europe’s big five leagues for the first time.

TOP 10 RICHEST CLUBS

1 Real Madrid £444.7m

2 Barcelona £413.6m

3 Bay Munich £369.6m

4 Man Utd £363.2m

5 PSG £341.8m

6 Man City £271m

7 Chelsea £260m

8 Arsenal £243.6m

9 Juventus 233.5m

10 AC Milan £225.8m