JOHN COLLINS insists that Celtic cannot afford to spend recklessly in search of success in Europe and end up in the same desperate predicament as their city rivals, Rangers.

The Ibrox club chased the dream of Champions League glory during the period in which Sir David Murray controlled the pursestrings and spiralled into an era of huge debts followed by the complete financial meltdown of 2012.

They are still dealing with the toxic legacy of administration and Collins insists Celtic supporters unhappy at an ignominious exit from the Europa League must remember that the board cannot play fast and loose with the club’s future.

Collins agrees with manager Ronny Deila’s view that returning to the Champions League is a realistic target, but insists that it cannot be pursued at all costs.

“The club’s got a budget,” said the Celtic number two. “Look what happened to our opponents across the road.

“Do we want to be where they are?

“Would Rangers fans like to be where we are just now? Would Rangers Football Club like to be where we are?

“You’ve got to have ambition. You’ve got to be hungry for success on all fronts.

“Football’s changed dramatically in the last few years with television revenue, though.

“Players that were maybe available to us a few years ago are much more expensive, but I believe there are still diamonds out there.

“The signings that have done well in the Champions League this year wouldn’t be available on our budget. That goes without saying.”

Celtic, of course, have also made a habit of selling their better players. Virgil van Dijk left for Southampton for £13million after the Parkhead club’s failure to qualify for the Champions League, which, considering Jason Denayer had returned to Manchester City after a year-long loan deal, meant the side had lost its central defensive pairing from last term.

Collins insists that should be remembered when considering Celtic’s failings in UEFA competition this season.

“We’ve got two new centre-halves and a new left-back,” he said. “We have lost two class centre halves and we’ve replaced them with younger centre-halves.

“It takes time to adapt to a new environment, new team-mates and expectations.

“When you’re on that pitch at Celtic Park and you don’t win in Europe, everyone’s writing about you, talking about you, saying that you’re no good. It’s not easy for new players, young players, coming to this club.

“If you’re Real Madrid, Paris Saint Germain or Manchester United, you go and buy £30m players.

“Everyone knows we can’t do that. We can sign players and try and develop them and they learn, but there can’t be a guarantee when we’re changing players all the time.”

That is at the centre of the problem. What happens with regard to continuity when club policy effectively dictates that players are there to be developed and sold on to the highest bidder?

“Then the cycle starts again,” conceded Collins.

Dermot Desmond, Celtic’s major shareholder, stated earlier this year that he still sees the club’s objective being the latter stages of the Champions League. Collins does not accept that, in the current climate, is setting the bar too high.

“We have always got to believe it is doable,” he said. “It’s been done before and it’s possible that it can be done again.

“We all want it, everybody wants it. Would I say we need it? Of course we need it. We’re a massive club, but it’s not as easy as people think.”