By Wayne Veysey

26th Feb, 2021 | 7:00am

Revealed: Rangers hit the jackpot with £8m cash windfall

Rangers are set to rake it in from their stunning Europa League exploits this season after securing a last-16 berth with their epic Thursday night triumph over Royal Antwerp.

The Scottish champions-elect produced some devastating attack play to complete a 9-5 aggregate win at Ibrox and clinched another major cash bonanza.

Uefa’s Europa League distribution data shows that Rangers have now earned a guaranteed £8million from performance-related pay-outs this season.

Top-up cash could rocket their European windfall past the £20m mark.

Rangers landed a £950,000 pay-out with Thursday’s thrilling 5-2 win, which guarantees a place in the last-16 of the Europa League for a second consecutive season.

The Glasgow giants had 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.

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The club’s outstanding performances in their six group stage matches, which yielded four wins and two draws, also netted £2.4m.

By qualifying for the knockout stages as group winners, Rangers landed a £900,000 bonus and that was topped up by £450,000 for qualification for the round-of-32.

Ibrox sources have told Football Insider that the club will earn multi millions to top up the £8m rom performances alone.

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 at least match their 2019-20 European earnings.

Rangers’ last financial results demonstrated the value of the Europa League.

For the year ending 30 June 2020, the club confirmed that £20.7m of their total £59m revenue had come from the competition.

In other news, a £30,000-a-week Rangers star is in line to quit at the end of the season amid pay cut reveal.