Rangers have taken two large scale gambles in the last two seasons. They’ve taken plenty of lower scale ones, but two that really matter.

Pedro Caixinha was sourced and backed to the tune of £10m.

Steven Gerrard is about to be backed much the same.

The difference is one was an unmitigated disaster. The other is Steven Gerrard.

Caixinha’s reign at Ibrox was a wasteful and expensive endeavour. (Photo by Ian MacNicol/Getty Images)

Nonetheless that’s £20m in two years, with a turnover of up to 30 players in between. It’s unsustainable and the Board have really got to hope after the Caixinha fiasco they got this one right. Early signs are certainly promising. It will take time though.

The gold of Europe is essential to keep momentum

Rangers are now 90 minutes away from the Europa League. More than give the fans hope of going to Baku, or at least another reason to sing about it, it brings hefty investment back into the club.

No one is saying Rangers are skint. The fact we’re reportedly about to spend £2m on Eros Grezda suggests that’s nothing more than a fallacy peddled by our friends to the East.

ANTALYA, TURKEY – NOVEMBER 13: Eros Grezda (7) of Albania celebrates after scoring a goal during the Friendly match between Turkey and Albania at Antalya Stadium on November 13, 2017 in Antalya, Turkey. (Photo by Mustafa Ciftci/Anadolu Agency/Getty Images)

However, you just can’t keep investing £10m in the playing squad season after season without anything coming in from the other side.

Rangers need this investment to be supplemented. The Europa League would offer at least £7m to Rangers, as well as put the brand, and the unbelievable fans, back into the public eye.

It’s a mouthwatering prospect. But one which only adds pressure to a team which has known each other barely two months.

Building assets and a reputation for quality

It’s easy to muse over Rangers financials but the truth is, none of us really know. What we do know is that Rangers still have issues with kits. It is surely in the death throws of being sorted. This is money the club could use.

The playing squad is yet to produce investment into an asset – although the sales of Declan John and Josh Windass represented constructive business, if not significant. That doesn’t mean we’re building them. We certainly don’t want to lose our strongest assets.

GLASGOW, SCOTLAND – JULY 12: Josh Windass of Rangers battles with Benjamin Shabani of FC Shkupi during the UEFA Europa League Qualifying Round match between Rangers and Shkupi at Ibrox Stadium on July 12, 2018 in Glasgow, Scotland. (Photo by Jan Kruger/Getty Images)

That said, the likes of Connor Goldson, Alfredo Morelos, Borna Barisic, Nikola Katic, Ryan Jack and James Tavernier now appear worth significantly more than we invested in them.

This is smart business by Gerrard and DoF Mark Allen. We’ve got Jonaton Johansson to thank for Morelos.

Rangers appear to be getting their house in order when it comes to transfers, signings and securing investment.

It’s about time for the investment started paying the club back, starting by taking some Euromillions home from Russia.

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