By Kieran Maguire

18th Aug, 2021 | 3:00pm

Kieran Maguire: Rangers closing in fast on Celtic after £20m Ibrox update

Celtic still have the bragging rights in the financial stakes – but Rangers are closing in fast despite their Champions League setback.

That is the view of spreadsheet expert Kieran Maguire, speaking exclusively to Football Insider about the financial tug of war in Glasgow.

Steven Gerrard‘s side was knocked out of the Champions League at the preliminary stages by Malmo on 10 August after a 4-2 aggregate defeat.

Maguire told this site on 6 August that the Scottish champions would pocket “at least £20million” if they reached the group stages.

But they now join Celtic in the play-offs to reach the same stage at the Europa League level.

The Hoops face AZ Alkmaar in the first leg at Parkhead tonight (18 August) while Rangers face off with Alashkert at Ibrox tomorrow evening.

Subscribe to Football Insider TV now

And Maguire claims that the parity between the two at a sporting level means Celtic will continue to have the edge in the balance sheets.

He told Football Insider correspondent Adam Williams: “I think they’ll have the bragging rights for another year.

“They have the benefit of the larger stadium. Rangers’ matchday income is in the region of £35m in a non-Covid year, and there isn’t a huge difference between the two sides there.

“Rangers made more from their Europa League progress last season. But Celtic have historically been ahead of Rangers in terms of commercial income.

“However, I expect that to have narrowed substantially. But I think Celtic will just nip ahead on the grounds that their stadium is a little bit bigger.

“That financial difference, which was very high in 2018, will continue to narrow. But I don’t think it will disappear this season.

In other news, Celtic tipped to seal major coup after Josip Juranovic talks update.