Rangers have clawed back £48m from a once cavernous cash gap with Celtic, according to a football finance expert.
The Ibrox club rose back to Scottish football's summit last season as they wrestled the Premiership title away from their city rivals.
But it's their progression on the continental stage that has provided club coffers with a real boost.
Steven Gerrard has guided his side to the Europa League last 16 in the past two seasons, reaping the financial benefits along the way.
That's helped cut a difference in revenues that once stood at £59m.
Finance guru Kieran Maguire reckons the clubs could be approaching an "intersection" point where Rangers could sweep past Celtic financially.
He told Football Insider: "The revenue gap was £59m between the two and now it’s decreased to £11m. That was without Rangers playing in the Champions League.
“They need just one good season where they are more successful in Europe. If they are in the Champions League and Celtic are in the Europa League, for example.
“We are reaching an intersection point if Rangers are successful in the preliminary rounds.”
