Rangers director Stewart Robertson has confessed that in order to make the club’s finances “fully self-sustaining”, the club must secure more money from qualifying for the Champions League.
Robertson made the comments while at a meeting with the members of the Club 1872 board and answered questions from those absent at November’s Annual General Meeting.
The Herald Scotland quoted Robertson as he addressed the issues about the club’s finances, and referred to the gap that is now between the club and bitter rivals Celtic.
“As mentioned by the Chairman in his speech at the AGM, regular European football will be the key to the Club’s finances becoming fully self-sustaining,” said Robertson.
“The increased revenues from retail will go some way to narrowing the gap as will more effective player trading.
“The majority of the deficit is accounted for through qualification for the Champions League group stages.”
The Gers failed to make it past the first qualifying round of the Europa League this season, losing 2-1 to Progres over two legs.
Robertson went on to mention that the Light Blues had seen retail revenue and commercial income increase, but it just made the club aware how “valuable” Champions League qualification is.
The Light Blues were last in the Champions League group stages in the 2010/11 season, with their exit leading them to qualify for the Europa League.
Rangers got past Sporting Lisbon in the last 32, but could not go any further than the last 16 as Porto knocked them out.
The Gers director estimated that not being in the competition saw them miss out on approximately £26million.
Rangers are currently without a permanent manager and sit third in the Scottish Premiership.
The Light Blues are next in action on Saturday when they travel to face Kilmarnock.
The last three meetings between the sides have ended in a draw.