Rangers will receive a guaranteed £15 million after qualifying for the Europa League’s round of 16, according to Football Insider.
The Scottish giants defeated Union Saint-Gilloise 2-1 on Thursday (30 January), with goals from Nicolas Raskin and Vaclav Cerny, before Kevin MacAllister’s late header made it a tense last few minutes at Ibrox.
Philippe Clement’s side qualified for the round of 16 after winning four and drawing two of their eight games, finishing eighth in the competition’s revised league phase.
Rangers will now not return to European action until early March, with the knockout round play-offs scheduled for mid-February.
Lazio, Athletic Bilbao, Manchester United, Tottenham, Eintracht Frankfurt, Lyon, and Olympiacos all qualified automatically for the round of 16.
Rangers primed for financial boost after European success
According to official Uefa documents released last March, each team will earn a guaranteed £3.6 million for participating in the Europa League this season.
They will subsequently be eligible for further cash rewards under the governing body’s new value pillar structure, which separates European and non-European divisions based on coefficient ranking and market pool.
Clubs are paid £377,000 for each win and £126,000 for a draw in the league phase, thus Rangers have earned little under £1.8 million from their fixtures.
Glasgow have also got £1.5 million for automatically qualifying for the final 16 and £500,000 for finishing in the top eight.
Following the completion of the eight group games, the 36 clubs competing in the Europa League will receive an additional payment based on their individual rankings.
Qarabag, who are at the bottom of the table, have earned £63,000, while Rangers have won an additional £1.8 million for finishing eighth.
According to Football Insider, the Scottish club’s total prize money to date is roughly £15.2 million, which includes payouts under the value pillar system.
That, however, is significantly less than Celtic expects to earn from competing in the Champions League this season.
On January 23, Football Insider stated that Brendan Rodgers’ side had already earned roughly £38 million after qualifying for the knockout round play-offs.
However, Rangers could earn a substantial profit on star forward Hamza Igamane, who signed for £2.5 million from AS FAR last summer after previous strong displays.
Former Manchester United head scout Mick Brown told Football Insider that Ibrox officials would welcome a “huge” bid for the 22-year-old after numerous teams had been keeping a close eye on him.
