Martin O’Neill has accepted full responsibility after Celtic suffered a remarkable Champions League collapse against LASK, throwing away a four-goal aggregate lead to crash out of qualifying.

Celtic appeared to have the tie under control after winning the first leg, but their advantage disappeared during a chaotic second half in Austria.

LASK eventually forced extra time before completing a stunning 5-4 aggregate comeback, leaving Celtic to reflect on one of the most painful European exits in recent years.

O’Neill made no attempt to shift the blame after the final whistle.

“I’m responsible for this one,” he said. “Without a doubt.”

In the context of things, one was a final which it would have been terrific to win, this was a qualifying game which we should have been able to get through,” O’Neill added.

“We know that we are a million miles from the finished article. That’s absolutely true. I think we thought that anyway.”

The result is particularly damaging given Celtic’s experience of European disappointment at the same stage last year.

O’Neill was not in charge when Brendan Rodgers’ side were eliminated by Kairat Almaty on penalties, but that defeat contributed to the eventual end of Rodgers’ second spell at the club.

O’Neill subsequently took over and helped restore some stability, guiding Celtic to another Scottish Premiership title and the Scottish Cup after a turbulent period.

The collapse in Austria now leaves him with another major rebuilding job.

UCL failure brings consequences

Celtic will have to regroup quickly, but their failure to reach the Champions League also has serious financial consequences.

Qualification would have brought a significant boost to the club’s finances and made Celtic a more attractive destination for potential new signings during the final stages of the transfer window.

O’Neill acknowledged that the club’s recruitment plans could now be affected.

“The qualification for the Champions League is major, it’s major in every aspect,” he said. “Financially, for prestige, but we have to pick ourselves up. That’s my responsibility again to do that.

“I think I said last week that if you could qualify for the Champions League there would be players wanting to come on that basis,” he said.

“That’s not going to be the case but we’ll see.”