KENNY DALGLISH believes Rangers have now been left with a transfer dilemma after missing out on Europa League glory.

The Ibrox club lost out against Eintracht Frankfurt in the final on penalties and as a result, missed out on a £30million payout.

Dalglish now reckons Rangers will be unable to put a firm plan in place for transfers this summer until they know whether they will be in the Champions League group stages.

Giovanni van Bronkchorst's side will head into the qualification rounds of the tournament and Dalglish wrote in The Sunday Post: "The bigger picture of this particular defeat will emerge and hit home in the coming days.

"That’s when the Ibrox hierarchy will reflect on where this defeat leaves them financially.

"If they had beaten Eintracht they were straight into the Champions League and the pot of money, in excess of £30 million, would have been waiting.

"Such chunky funds would have given the club certainty and they would have been sitting down with Giovanni this week aware of the budget he has and the type of players they were going for.

"But they do not have that luxury just now.

"They may have to wait until the last week in August before they know if they have that Champions League treasure chest or not.

"It’s far from ideal, but that’s football. You must deal with the circumstances you find yourself in. There is nothing to be gained by feeling sorry for yourself.

"Across the city, by winning the SPFL Premiership, Celtic gained automatic entry into the Champions League and that guaranteed financial windfall.

"That has given Celtic certainty of what they are able to do in the coming weeks.

"Having that sort of clarity should be beneficial to Ange Postecoglou and his recruitment department.

"They know what they have to spend and they know when they are talking to agents and signing targets they are doing so in the knowledge they are in Europe’s No. 1 club competition.

"That kind of stability and certainty is so helpful. But, of course, it doesn’t guarantee success.

"So, Rangers must get to work and they need to do it as soon as possible."