UEFA reveal the £9m difference between what Rangers and Celtic earned in Europe last season

Rangers earned just under £9million more than Celtic in Europe last season thanks to their run to the Europa League final, a UEFA financial report has confirmed.

The governing body has released its annual accounts for the 2021-22 campaign which show the Ibrox club banked £18.1m for reaching the final in Seville which they lost to Eintracht Frankurt on penalties after a 1-1 draw across 90 minutes and extra-time.

Rangers received a £3.15m starting fee, 800k for their coefficient, £2.5m from TV revenue and £2.1m for progressing through the group stages with a record of two wins, two draws and two defeats securing second spot. Further earnings during the knock-out phase amounted to £430k for beating Borussia Dortmund in the play-off round, £1.05m for overcoming Red Star Belgrade in the last 16, £1.5m for defeating Braga in the quarter-finals then £2.45m for their semi-final win over RB Leipzig.

Finishing runners-up landed them another £4m but Frankfurt collected more than £33m for lifting the trophy – £15m more than Rangers took home from the same competition – due to a much more lucrative TV deal on top of the £8m prize money banked for winning for the final.

Rangers players collect their runners-up medals following their defeat to Eintracht Frankfurt in last season's Europa League final. (Photo by David Ramos/Getty Images)

Celtic, meanwhile, collected a £9.2m sum despite a disappointing European campaign that saw them knocked out of Champions League qualifying at the first hurdle by FC Midtjylland, before an indifferent Europa League group campaign saw them finish third in their group to drop into the Conference League knock-out play-off round, where they were also dumped out by Bodo/Glimt after losing both home and away legs.