Rangers' commercial director James Bisgrove reckons the Ibrox club are on their way to emulating European giants Ajax, Borussia Dortmund and Porto.

Gers have signed a number of new partnerships in recent months including one with Cadbury and another with Glasgow Airport. Those deals added to the 'landmark' deal with kit manufacturer Castore worth around £25million over a number of years and Bisgrove claims they are still on their way up.

The commercial chief says Rangers have expanded their partnerships from 10 to 30 in just 18 months and has set a target of boosting them by another 10-20 per cent year by year to catch up with some Euro heavyweights.

He told Off the Pitch: "Make no mistake, we still have a long way to go if we want to realise the club's full commercial potential, but I feel that we have executed our strategy in an effective manner and maybe a little bit quicker than we thought.

"But there is no one at this club standing still. I would say that what you have seen lately on the pitch is reflecting what we try to achieve off the pitch as well. Firstly, we have to acknowledge the variations in the broadcasting landscape and the very big differences in these revenues.

"If you end bottom of the table in the English Premier League you will receive around €100 million. If you end up winning the Scottish [Premiership] you would receive around €4 million.

"I guess that tells a story about what we are up against, and it also tells us why qualifying for the Champions League is so important for us due to the revenues we could receive. But we benchmark ourselves to the top European clubs.

"And, in the short term, I am not talking about Real Madrid and Barcelona, but perhaps the likes of Porto, Ajax and Dortmund.

"We are not there yet – but we are on the way back as one of the biggest clubs in Europe."