Paul Lambert has suggested that Celtic would be serious contenders at the highest level if they had the financial clout of their English Premier League counterparts.

The former Hoops captain made the point during a discussion where Ray Parlour raised concerns about the gap in resources between clubs north and south of the border.

Parlour highlighted the challenge facing Scottish sides in European competition, especially when set against the enormous television revenues enjoyed by even the lowest-placed sides in England’s top flight. The difference, he argued, makes it extremely difficult for Celtic to consistently compete on the continental stage.

Lambert, who lifted the Champions League with Borussia Dortmund before joining the Hoops, was quick to back Celtic’s potential. He argued that the stature of the club would allow them to compete toe-to-toe with the best, provided they were given time and investment on par with Premier League clubs.

Referencing the late Walter Smith, Lambert insisted that with comparable budgets and a bedding-in period, Celtic and Rangers could reach the elite level in Europe, a sentiment he has held for years.

Parlour said: (talkSPORT), “It’s really hard, isn’t it, to compete in Europe. With the prize money. What they get in the Premier League.

“If you look at the bottom team in the Premier League. They get £100-odd million. What do Celtic get to win the league? To compete with the teams around Europe, they do really well to get to where they get to, with the budget that they have.”

Lambert added: “They do, Ray. But I think Walter Smith, god rest him, said it years ago, I have said it a long time ago.

“If you give Celtic and Rangers the same budget as what they get in the Premier League, you give them a few years to find their feet, and I will guarantee you they will be right up there. Just because of the size of the clubs.”

The debate around Celtic’s spending power is nothing new, but the recent comments reignite a long-standing discussion about financial fairness in European football. Despite regular domestic success, Celtic often find themselves outgunned in the Champions League by clubs with vastly superior resources.

Lambert’s comments will strike a chord with many supporters who believe the club’s true potential is capped by the structural inequalities of modern football. The idea that Celtic could thrive given a level playing field is a view that’s often shared within Scottish football but rarely entertained by those down south.

Whether or not such financial parity ever materialises remains to be seen, but the underlying point stands: Celtic, with their fanbase, infrastructure, and history, would not look out of place on a bigger stage, provided the economic conditions allowed them to build accordingly.