However, they are still recovering from a narrow 3-2 aggregate defeat against Benfica, a match that dashed hopes of a potential long run to the Europa League Final in Dublin. Despite earning a commendable 2-2 draw in Portugal, Rangers fell short at the Round of 16 stage.
The team’s recent string of injuries and lack of depth have been challenging, but the significant prize money earned this season provides a positive outlook for a busy summer ahead.
Regarding the earnings in UEFA prize money for the 2023/24 season, Rangers are set to profit from their earlier participation in the Champions League playoffs, where they were eventually eliminated by PSV Eindhoven.
By defeating Servette in a prior round, Rangers secured €500k from QR3 and received a €5 million parachute payment for reaching the Playoff round, totaling €5.5 million (£4.7 million) from their early Champions League qualification endeavors.
Additionally, every Europa League qualifying team receives a set €3.63 million UEFA payment, with wins valued at €630k and draws at €210k. Rangers won three matches and drew two, accumulating €2.31 million in prize money during the group stage.
Furthermore, topping the group earned Rangers an extra €1.1 million, and their Round of 16 encounter with Benfica added €1.2 million to their earnings. Combining their Europa League earnings, Rangers garnered €8.24 million (£7.04 million).
When combined with their Champions League earnings, Rangers’ total UEFA prize money for the season amounted to €13.74 million (£11.75 million).
It’s important to note that these figures do not include TV revenue or other commercial gains from their European endeavors, underscoring the financial impact of European football.
As Rangers aim to progress under Philippe Clement, the funds generated from their Europa League campaign will contribute to team development for the upcoming season.
With several key decisions looming, including contracts for first-team players and potentially converting loan deals into permanent ones, Rangers will rely on every penny to navigate the changes ahead.
Despite the challenges, the club’s positive trajectory in the transfer market, exemplified by a recent international call-up, signals promising developments for Rangers.
GET MORE NEWS HERE