Europa League prize money 2024: Here's how much Rangers and other clubs earn from playing in the Europa League

Rangers continue their Europa League campaign this evening as they welcome Ligue 1 giants Lyon to Ibrox for matchday two of the competition.

After falling short in the Champions League qualifiers in August, Philippe Clement’s side dropped into the new look European competition and were dealt some mouth-watering ties after being drawn against the likes of Manchester United, Tottenham Hotspur and Nice.

Their campaign started with an impressive win over Malmo last Thursday though, and they now will now welcome Lyon and FCSB to Glasgow for back-to-back Europa League ties at Ibrox. The Gers will also face tests against Olympiacos and Union Saint-Gilloise in the league phase of the competition.

Scotland’s sole representative in the competition after both Hearts and Kilmarnock failed to make it through the qualifiers, the Gers will be hoping they can recapture the form that resulted in them making it all the way to the final of the Europa League in 2022 - though their main aim will be dethroning Celtic at the top of the Scottish Premiership come May.

But how much will Rangers earn from their participation in the UEFA competition, and how much more could they secure by qualifying for the latter stages of the Europa League?

Here is everything you need to know about the 24/25 UEFA Europa League - including the new format explained, prize money and key dates.

The Europa League trophy. Cr: Getty Images. | Getty Images

New Europa League format explained

The European competition has taken on a new format this year, which mirrors that of the UEFA Champions League. The 24/25 Europa League will see a total of 36 teams take part in one league table.

Previously, qualifying teams would have been placed into four team groups, with each side playing each home and away, with the top two sides from each group qualifying for the last 16 phase of the competition. However, the new format will now see all 36 clubs placed into a one league, where they will play four home and four away games. In order to determine fixtures, each team was placed into four seeding pots, with each qualifying teams drawn to play two opponents from each.

The top eight teams from the league phase will now advance directly to the knockout stages, while teams placed between ninth and 24th will complete a play-offs to advance to the round of 16. From there on in, the competition reverts to a straight knockout.

Rangers Europa League fixture dates

Oct 3: Lyon (H) - 8pm

Oct 24: FCSB (H) - 8pm

Nov 7: Olympiacos (A) - 5.45pm

Nov 28: Nice (A) - 8pm

Dec 12: Tottenham Hotspur (H) - 8pm

Jan 23: Manchester United (A) - 8pm

Jan 30: Union Saint-Gilloise (H) - 8pm

Europa League prize money - how much will club earn from playing in the Europa League

Firstly, the Glasgow giants have already received a fixed payment of €4.29m for their participation in the Champions League qualifying stages, despite their defeat to Dynamo Kyiv. This is split into a down-payment of €4.14m (£3.5m) and a balance of €170k (£141k).

Rangers will earn a performance related bonus, which will be paid for each match in the League Phase: €450,000 (£379,201) per win and €150,000 (£126,400) per draw £0 for a defeat. This is significantly less than what they would have could have earned had they made it through the Champions League qualifiers, which would have saw them earn €2.1m (£1.7m) per win and €700k (£584k) per draw.

Should Rangers end the league phase in any of the top eight positions, they will receive an additional €600k (£500k) bonus. If they are ranked between ninth and 16th will receive €300k (£250k).

Should Clement’s side qualify for the last 16 and/or further knockout phases of the Europa League, they will earn:

Round of 16: €1.75m (£1.47m) per club

Quarter-finals: €2.5m (£2.11m) per club

Semi-finals: €4.2m (£3.54m) per club

Participation for UEL final: €7m (£5.90m)

Winners: An additional €6m, so €13m in total (£10.95m).