Rangers may be licking their wounds today after their remarkable 27-match unbeaten run ended but the club are on an increasingly sure financial footing as a result of their European exploits.
The Scottish title challengers won their Europa League group last week and have already secured £6.6million from performance-related pay-outs.
Uefa’s Europa League distribution data shows that Rangers have already earned £2.6m from their group stage allocation on top of the £700,000 for progressing through the Europa League qualification rounds at the start of the season.
The club’s outstanding performances in their six group stage matches, which yielded four wins and two draws, has also netted £2.4m.
By qualifying for the knockout stages as group winners, Rangers have landed a £900,000 bonus.
Ibrox sources have told Football Insider that Scotland’s second-richest club will earn multi millions to top up the £6m.
This would come from the Scottish clubs’ share of the TV pool, their increased Uefa co-efficient ranking as well as commercial and merchandise income.
Even in the absence of bumper crowds at 50,000-capacity Ibrox, Rangers can expect to go close to their 2019-20 European earnings.
What the final sum will be depends on the knockout stages and how Steven Gerrard’s much-improved side fare when the Europa League returns in February.
Rangers’ recently-published financial results demonstrated the value of European competition, with the Europa League bringing in £20.7million last season.
For the year ending 30 June 2020, the club confirmed that revenue had increased from the previous year to £59million but they posted a loss of £15.9m, an increase of £4.3m on last year’s numbers.