Iceland have once again captured the hearts of the nation with their journey to Russian Federation in stark contrast to England's more prosaic progress to the finals - but Magnusson says it can yet come good for Gareth Southgate's side.
Iceland's unique celebrations are as striking as their on-pitch achievements, and they did not disappoint after booking their place at next summer's World Cup.
Iceland stole the hearts of the neutrals at the Euro 2016, where they made the knockout stages, before beating a dour England in the Round of 16.
After the game against Kosovo, Iceland head coach Heimir Hallgrimsson said it was a unusual feeling that his team would now be mentioned in the same breath as former World Cup greats.
Croatia forced a 0-2 lead in Ukraine but had to wait for a play offs to know their faith with Iceland booking their spot in the pool for the pairings.
The total of 17 points from 10 qualifying matches saw them finish second behind Switzerland and earn a place in the play-offs as the final step ahead of the big event in South Americas. Uruguay just need to draw at home to Bolivia to join Brazil but beneath them, only two points separate the next five teams in the standings with one round of games to go.
Martin O'Neill's men finished second in the group behind Serbia, who firmed up automatic qualification with a 1-0 win over Georgia after Aleksandar Prijovic's late goal. "The success is not an end in itself but a long journey towards a final destination", said Iceland manager Heimir Hallgrimsson.