Glasgow Rangers are set to earn a guaranteed fee of £3.3 million from their Europa League participation, according to a report published by Football Insider. 

The Gers are set to earn the money regardless of how they will perform in Europe’s second-tier club competition, with the group stage next up for the Scottish outfit.

Steven Gerrard’s Rangers side will be looking to make an impact in Europe, not just for increased profits, but also to prove that Scottish teams are able to compete against the best in Europe.

Even though Celtic have dominated Scottish football for the vast majority of the past decade, they have not made an impact in the Champions League or Europa League, and neither has any other side from Scotland.

The report added that UEFA’s Europa League distribution data shows that the Gers will earn £2.6 million from their group stage allocation and a further £700,000 for progressing through the qualification rounds.

Rangers would have made a profit from hosting several Europa League matches at Ibrox, four of which have already been played.

They qualified for the group stage of the competition after they managed to defeat Legia Warsaw over a two-legged playoff.

Rangers do not have an easy group stage as they will have to compete against the likes of Porto, Feyenoord and Young Boys. The first fixture is due to take place against Feyenoord at Ibrox on 19 September.

All three of the other clubs in the group have competed in the Champions League during the recent past, so Gerrard’s side will not exactly be favourites to progress from their pool.

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