The Glasgow giants are counting the cost of missing out on UEFA competitions this term

Rangers will earn less than both Hibs and Motherwell from UEFA this season after a disastrous European campaign.

It comes as Celtic and Hearts can both boost their bank balance with results in the Europa and Conference League this week.

Andrew Cavenagh and the American owners at Ibrox have been left to count the cost of missing out on league phase football this term. The penalty shoot-out defeat to Jablonec in the Conference League playoff brought the club's bid to make a mark on the continent to an end.

It followed a shock Europa League exit at the hands of Jagiellonia Bialystok - with both playoff losses dealing an early blow to Derek McInnes' momentum after stepping into the Ibrox hot seat.

It's the first time since 2017 that the Glasgow giants have gone without European football, when Pedro Caixinha infamously argued with punters in a bush in Luxembourg after defeat to Progres Niederkorn.

The financial boffins at Football Meets Data have calculated that Rangers will bank less cash from European football's governing body than their Premiership rivals Hibs and Motherwell - who also both failed to make the league phase.

The capital side won in the Conference League qualifying rounds against Malisheva and Shkendija before ultimately crashing out at the hands of Gent in the playoff round. The Steelmen - also in the Conference League - overcame HB and HJK Helsinki before failing to overcome the mammoth task of Bundesliga side Freiburg.

Both Scottish clubs picked up a guaranteed £1.1m from their early-season exploits in Europe, while Rangers have only sealed a £923k payday.

Celtic and Hearts both still have the chance to race away from their rivals and add to the bumper paydays that have already been guaranteed. The Scottish champions are guaranteed to pocket £11.16m in prize money in the Europa League while the Jambos will bank £4.28m in their historic Conference League campaign.

The clubs can increase their prize pot with results in the competition as well as progress from the league phase, while the value pillar rewards clubs with strong coefficients and from large broadcast markets - which will be decided by UEFA at the conclusion of the competitions.

The model put forward suggests that Celtic's profit will total £13.34m, while Hearts will take in a total of £5.29m. Rangers have already conceded the financial hit facing the club after their Euro flop.

Speaking last month to the club's Fan Advisory Board, chief executive Jim Gillespie "was candid about the European performances, that they had fallen short of what the squad was capable of." He noted: "Since then, the team has settled into a more consistent shape and performances have improved."

Finance director Sara Bishop also "confirmed that the financial impact of the European exit is still being worked through" and conceded "the club has lost income as a result". However, it is said "this is not expected to alter the plans already in place."