When Pat Nevin sat on the panel which decided whether or not Ki Sung-Yueng would get the work permit he required to ply his trade in the SPL, he left the meeting convinced Celtic had just bagged a bargain.

The news that the Parkhead side now stand to make a profit on the South Korean playmaker has, therefore, come as no surprise to the former Scotland winger.

Barclays Premier League side Queens Park Rangers have been credited with an interest in the 23-year-old, while Russian outfit Rubin Kazan have already tabled a whopping £6 million for the player. Celtic have knocked that one back, but it is fully expected that the Russians will return to the table again.

Victor Wanyama has also made noises about wanting a crack at the Premier League after a successful inaugural season at Parkhead.

While Ki is one who, in all likelihood, was expected to move on, Wanyama is a player that Lennon may have thought he would get to hold on to for at least another term.

But, if money is on the table, Nevin believes Celtic should be applauded for taking it.

"The bottom line is that this kind of policy – bringing players in and selling them on for profit – is absolutely the perfect business model," he said.

"There will be on or two who I think might have a pop at the club selling two big midfielders, but I wouldn't be one of them.

"In fact, Celtic deserve credit for the way in which they have stayed on an even keel in such financially challenging times.

"The day I sat on the panel for Ki's work permit, I knew full well that he would go on to bigger things.

"We saw footage of him and I was impressed immediately – he was so calm and composed on the ball and his technique was excellent."

He added: "At the time I thought that Celtic were getting a very good player damn cheap – I think they paid just over £2m for him.

"As a fan of Scottish football I'd be sad to see Ki go because he is a sophisticated footballer and it's always nice to have them in our league.

"He was suave and calm when he first arrived, but he has added a physical aspect to his game which will make him an attractive proposition down south."

Currently working at Euro 2012 in Poland and Ukraine, Nevin has enjoyed watching the cream of European talent congregate at the competition this month.

It is a poor reflection on the SPL that there were just two representatives from the league at the tournament – Georgios Samaras and Mikael Lustig – and Nevin believes that a large percentage of the money raised from selling players should go to Lennon's budget.

While Celtic are going to be expected to walk their way to the title, regardless of what happens with the Rangers situation, their supporters will demand that they attempt to make inroads into the European football scene once again.

There are two qualifying rounds for Celtic to negotiate – the Hoops must make their way through a third-round qualifier as well as a play-off – before they can get to the Champions League group stage, and it is a challenge that will be considerable given the calibre of most of the opposition they could face in the tournament.

Nevin admitted: "If you were in Celtic's position you would be thinking about European football, but if you opt to knock back all bids for players and then don't make it into the group stage, there is a sizeable financial shortfall.

"I think Neil knows the score where that is concerned – and there is no shame in cherry picking good young players, coaching them and selling them on for profit – it's what the Dutch have excelled at for years.

"If Neil gets the chance to pick out reasonable replacements and spends some of the money to refresh the squad then everyone is happy.

"And given what has happened at Rangers, there is a stark warning for all Scottish clubs because no-one knows what the TV deal is going to be.

"Celtic need to operate as sensibly as they have been doing. Ki was a super buy and so wasWanyama.

"Those responsible for earmarking them deserve a massive pat on the back, but I think everyone accepts that this was always a stepping stone – and that is no disgrace.

"The challenge is to keep that conveyer belt ticking over and try and bring in youngsters from their own academy who can step into the first team now."