There is no doubt that Rangers have been good for the Europa League and the Europa League has been good for Rangers.
The competition has seen the Ibrox club re-establish themselves on the continental stage and they have served up some hugely memorable moments over the past few seasons.
Nothing more than last Thursday’s stunning win over Borussia Dortmund put Giovanni van Bronckhorst’s side on the brink of the knockout stages.
Clearly, the benefits have not only been reputational, but also financial.
Steady progress to the knockout stage carries big incentives even in UEFA’s second-tier tournament and the club, which issued £4million in stock on Tuesday, reaped sizable rewards.
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But how much have Rangers earned from this year’s exploits so far?
Right here, Record sport online crunch the numbers.
Breakdown of prize money
Qualification for the group stage
Group stage wins
£527,303 x 2 = £1,054,606
Group stage draws
£175,767 x2 = £351,534
Qualified in second
Reach the knockout stages
TOTAL PRIZE MONEY = £5,323,698
If Rangers hold off Dortmund in Thursday’s last-16 second leg at Ibrox, the club will cash in another £1,005,457 – a figure that represents almost 20% of the total they have won so far.
What about TV money?
The club will also receive a share of the TV market pool which this season stands at £140,763,688 .
Half of this figure is split between all the clubs in the competition, and the other half between the clubs that reach the round of 16.
This money is split proportionally according to the TV markets of the nations involved, meaning that although Rangers will get Scotland’s full share, it will be less than countries with bigger broadcast deals, such as Italy. , England and Spain.
The exact figure is only calculated at the end of the season.