Davie Provan has suggested Glasgow Rangers are in line for a £70m windfall, which explains why they are bankrolling Steven Gerrard.

The Lowdown: Gers in with Champions League chance

The Gers cantered to the Premiership title last term as they topped the table by 25 points from their closest rivals Celtic (thefishy.co.uk).

As such, they have a chance to reach the Champions League group stages - they need to get past Malmo and through one other round to do that. Should they reach that level of the competition, they will be set for a big financial boost.

The Latest: Provan makes Gers claim

Writing in The Scottish Sun, Provan says the Gers are set for a big windfall. He wrote:

"Nine years ago, Rangers were doing the rounds at Peterhead, Annan and Elgin. Across town Celtic were beating Barcelona on their way to the Champions League knockout stage.

"Now? Rangers are favourites to make the groups while Celts have a scrap with Jablonec to stay in the Europa League. You couldn’t make it up.

"Sure, you could argue Rangers are pushing the boat out to bankroll Steven Gerrard. But if he gets them into the groups this season and wins the Premiership, Rangers will be £70m better off."

The Verdict: Not quite right

Provan is certainly right in that the Gers' coffers should be set to swell - that is what the Champions League can do, and it is certainly something that Celtic have benefitted from in the past. However, to suggest Gerrard is being bankrolled is perhaps a little too much.

So far this campaign, Rangers have spent just £750,000 across three transfers this summer transfer window. That whole sum was spent on one player, Charlie McCann (The Manchester Evening News), who will join the Gers' B side.

The two new additions to the first-team squad, John Lundstram (rangers.co.uk) and Fashion Sakala, did not cost a penny in transfer fees. Acting wisely in the transfer window is not the same as being frivolous.

In other news, Rangers fans were livid with this journalist's tweet.