Should Rangers go all the way and lift the Europa League trophy in Seville, it’s not cash that will be at the forefront of fans’ minds as they witness one of the greatest achievements in Scottish football history.

When the ticker tape’s been swept away and the champagne’s dried though, the financial boost could be a potential game-changer for Gio van Bronckhorst and the Ibrox board.

With Celtic looking certain to secure the title, and with it the jackpot of Champions League football, concern over the financial firepower at Parkhead has grown.

But what kind of money could Rangers be raking in if they were to join the party?

We’ve broken down the figures to calculate the game-changing jackpot on offer.

How much have Rangers earned so far?

First, let’s look at the prize money that has so far been earned by making it to the semi-finals.

Qualification for the group stage of this season’s Europa League was worth €3.63million, with a further €630k for each group stage win and €210k for each draw.

With a further €550k in prize money for finishing as group runners-up, Rangers netted themselves a cool €5.86m in prize money alone from the group stage.

Participation in the last 32, or play-off round is worth a further €500k, and progressing past Borussia Dortmund netted €1.2m.

The prize money just keeps going up from there, €1.8m for reaching the quarter-finals and €2.8m for getting to the semis.

The Rangers Review understands that home ties against Dortmund, Red Star and Braga netted around £2million in gate receipts.

There’s also television money to consider, which we’ll come back to later, but that gives us a figure of €12.16m in prize money, around £10.2m, plus a further £6m from the three knockout home ties.

That gives us a figure of over £18m, even not accounting for TV money and earnings from previous European home games in the Champions League and earlier rounds of the Europa League.

How much more can Rangers earn from the Europa League?

In this scenario we’re daring to dream that Van Bronckhorst’s side go all the way, so that means beating RB Leipzig on Thursday.

So, add another £2m in gate receipts to the total.

Then there’s the prize money for winning the competition, which this season stands at €8.6m or £7.2m.

And lifting the trophy doesn't just bring acclaim and respect. Rangers would also access the lucrative European Super Cup against Real Madrid or Liverpool.

That comes with a €3.5m or £2.95m participation bonus that rises by a further €1m for the winner.

We can therefore safely say that in prize money and gate receipts alone, that run would have brought over £29m into the Ibrox coffers.

Total: £29m

What about the TV money?

This is where things get a little bit more complicated, and we won’t know exact figures until the end of the season.

What we do know is that UEFA will distribute a total of €139.5m to clubs participating in this season’s Europa League.

Of that figure half, €69.75m, is split equally among the nations with at least one club participating in the group stage of this season’s competition.

There were 20 different nations represented at this stage, meaning around €3.5m each. As Rangers and Celtic split this money that’s another €1.75m for Rangers, just shy of £1.5m.

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The other half of the money is determined by the size of each country’s market pool – i.e how much broadcasters in that country are paying to show the matches.

This is where it gets slightly complicated and, as explained, we won’t have a precise number until the end of the season.

The system clearly favours the biggest countries in Europe, with the biggest television markets. Scotland is included in the market pool for the whole UK, with BT Sport holding exclusive rights to the matches.

The Premiership share is based on Scotland’s population relative to the other UK nations, so will be around 10 per cent.

The good news for Rangers is that, following Celtic’s elimination, any money coming to Scotland goes to them alone.

Of the total €69.75m, 60 per cent is allocated to the knockout rounds – again, based on market share.

It’s been reported that going all the way is worth around €22m (£18.5m) to English clubs in TV money, so if we assume 10 per cent then that’s another £1.9m for Rangers.

Total: £3.4m

What would the Champions League be worth?

The first thing to take into consideration here is coefficient payments.

That sees UEFA split a pot of just over €600m into equal shares of €1.137m. The lowest ranked team by UEFA coefficient receives one share, while the highest ranked receives 32.

Bayern Munich are currently the highest-ranked side so would receive around €36.4m

While it’s not yet known which teams will be involved in the competition, Rangers’ current ranking of 98 would certainly see them on the lower end of the scale. Even still a fee of around £3m can be expected.

On top of that each team gets a fixed €15.64m (£13.2m) for competing in the group stage, as well as TV money based on the same formula as above.

For the group stage Scottish clubs would get around €6.8m, split between Rangers and Celtic, to add a further €3.4m – just under £3m.

Another important factor to consider is the prize money on offer, and winning the Europa League would go a long way toward helping with that.

Each win in the Champions League group stage is worth €2.8m, with a draw netting €960k.

While Scottish teams can’t expect to win too many games at that level, winning the Europa League would make Rangers top seeds for the draw.

That means they would avoid the Champions League winners, and the winners of the Premier League, Serie A, the Bundesliga, La Liga and Ligue 1.

Of course, Rangers could still meet other teams from those leagues but had they not been top seeds the likelihood of drawing a Real Madrid, Bayern Munich or Manchester City was high.

For the sake of argument let’s say that Rangers only manage win at Ibrox and a draw away against the fourth seed in the group – that’s still €3.76m or £3.16m.

Total: Around £25m

The totaliser

For those who haven’t been adding up as they go, that would be around £32.4m from winning this season’s Europa League, plus another £25m from next season’s Champions League.

While those factors are dependent on things like results and TV money, Rangers still stand to earn a massive £54m by winning this season’s Europa League.