UEFA will hand every team that reaches the Champions League group phase an initial £14m for simply reaching that stage of the competition this season.
The prize fund for Europe’s premier competition has increased from £1.67bn to a staggering £1.75bn, with wins in the group stage being rewarded with a further £2.5m, and another £800,000 for a draw.
Celtic will need to get through three qualification ties in order to receive the prize money, and they will play Danish side FC Midtjylland in the second qualifying round next month.
Premiership champions Rangers will enter in the third qualifying round, with Scotland having two participants in the competition for the first time in nine years.
Other countries, such as England, Spain, Germany and Italy have four automatic places in the group stages, with the likes of Manchester City, Manchester United, Liverpool and Chelsea, Real Madrid, Barcelona, Inter Milan, AC Milan and Bayern Munich not needing to qualify.