Rangers progressed to the Last 16 of the Europa League on Thursday night, with their 9-5 aggregate victory over Royal Antwerp triggering the release of yet more prize money from UEFA.

The absence of fans at all European matches so far this season has seen the club miss out on multiple major revenue opportunities.

Rangers

All of Rangers’ 2020/21 Europa League fixtures have taken place behind closed doors. (Photo by Mark Fletcher/MI News/NurPhoto via Getty Images)

But the success of the team on the pitch and the prize money earned as a result, ensures that the European campaign has still provided a major financial boost.

The Times reported earlier this season that UEFA had written to clubs to advise that there would be a minor reduction in prize pots for their club competitions over the next five years, due to the financial impact of the pandemic.

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Consequently, there’s a degree of uncertainty with regards to the specific amounts being earned by clubs at each stage of this season’s Europa League and Champions League.

However, based on the rewards issued by UEFA last season, Football Coefficient have estimated how much Rangers have earned so far this campaign.

Rangers were rewarded for progressing through three rounds of qualifying, then they received payouts for four group stage wins and two draws, as well as a bonus for topping Group D ahead of Benfica.

A reward for defeating Antwerp and progressing to the Last 16 followed, while the club also received a sizeable ten-year coefficient payment at the start of the campaign.

Rangers FC v Royal Antwerp FC - UEFA Europa League Round Of 32 Leg Two

Borna Barisic helped Rangers secure more Europa League prize money with three penalties across two legs against Antwerp. (Photo by Ian MacNicol/Getty Images)

When all of that is added up, Football Coefficient asserts that the Gers have secured €10.24m (approximately £8.88m) in prize money to date.

Again, this is likely to be slightly higher than the actual amount received by the club due to the reported prize pot cuts, but even with a minor reduction, we’re still talking about a remarkable amount to secure purely from prize money in the space of around six months.

The Gers will be hoping to earn another boost in March when they battle Slavia Prague over two legs for a place in the quarter-finals.

Slavia sent a warning to Rangers on Sunday afternoon with a stunning comeback win that showed character in abundance.

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