Celtic received a shellacking at the hands of Atletico Madrid at the Wanda Metropolitano in a chastening Champions League night.
The Spanish giants hammered the Scottish champions 6-0 and Brendan Rodgers’ men now sit at the bottom of their Champions League group.
McGeady conceded that Atletico Madrid had the superior players on the pitch but feels the result could have been even worse for Celtic.
He pointed out that the home side did come close to scoring more goals and Celtic’s tactics in the second half were bizarre given they needed to do damage limitation.
The former Celtic star said on BBC Radio Scotland: “Atletico Madrid have the better players, a team full of world-class players but they also hit the bar and the post.
“It could have been a really bad night.
“Saying that it was a bad night but it could have been worse.
“I am just a little perplexed as to kind of the game plan in the second half, especially going into half-time.”
Celtic’s chances of playing in Europe beyond Christmas have also diminished with the result.
They need to win their last two games to have any chance of finishing third and qualifying for the Europa League.