Rangers banked £18.1 million from their Europa League run to the Final last season, UEFA have revealed in their annual financial report.

And Celtic still managed to rake in £9.2 million from their European campaign last season, despite being eliminated from all three competitions.

The Ibrox side made it all the way to the final in Seville last May before agonisingly losing on penalties to Bundesliga side Eintracht Frankfurt.

UEFA's financial report for last season reveals how they distributed their prize money with each club receiving a starting fee to play in the competition, along with money for wins and draws and further funds due to the TV market poll, the team's coefficient standing and subsequent progress.

And Rangers' final prize fund saw them receive £3.15 million from the starting fee, £800,000 for their coefficient, £2.5 million for their TV market pool, £2.1 million for their group stage performance, £430,000 for their knockout round win,  £1.05 for their Round of 16, £1.5 million for their quarter-final success, £2.45million for their semi-final win and £4 million for being runners-up.

Additionally, each club received more money with UEFA's Europa League surplus share pushing Rangers' tally up to £18.1 million.

Winners Eintracht Frankfurt received a bumper prize money payment of £33.3 million with their far more lucrative TV pool increasing their final tally.

Celtic ended up getting £9 million for being eliminated in the group stages of the competition and they also received a further £200,000 for losing in the UEFA Conference League knockout round to Bodo/Glimt.

Neither side received any Champions League prize money because both lost in the qualifying rounds.

Rangers can expect a bumper payment next season despite their Champions League nightmare this term - the report revealed that last season each group stage team earned an average of £53.4 million with even the lowest - Moldovans Sheriff Tiraspol - earning £20.7 million.

Meanwhile, former Rangers striker Kris Boyd believes Celtic’s Kyogo Furuhashi is the difference ahead of Saturday’s Old Firm clash at Celtic Park.

Rangers are nine points behind leaders Celtic in the Scottish Premiership table, with the Hoops having won 28 of their 30 league games this season.

The Hoops beat their fierce rivals 4-0 at Celtic Park back in September and their last Old Firm league meeting saw them draw 2-2 at Ibrox.

Boyd believes one of the key reasons for Celtic’s success is the threat of striker Furuhashi, who is top scorer in the league with 20 goals this season.

“The difference between the two teams at this moment in time is the main striker,” Boyd told Sky Sports Scotland.

“Celtic have got one who’s a threat. I’ve spoken about Rangers with that lack of movement at the top end, so Celtic can squeeze the game right up because they trust their two centre-backs to deal with whoever’s playing at that nine for Rangers.

“Whereas for Connor Goldson and Ben Davies, it doesn’t matter if you’re doing really well against Kyogo – if you switch off for a second, he’s away.

“His pace terrifies defenders, his movement terrifies them, and they’ve got so many runners who will go beyond as well.

“It’s crucial that Rangers stick together and don’t start getting dragged all over the place, because Celtic will exploit the gaps that are left.”