Rangers’ European nightmare has barely had time to sink in, but the fallout from Thursday night’s humiliating defeat to Jablonec is already beginning to take shape.
The Light Blues travelled to Czechia with a 1-0 advantage from the first leg, needing only to protect their lead and finish the job. Instead, they produced another painfully flat display, lost 1-0 on the night and were eventually eliminated 4-3 on penalties.
The result means Rangers will have no European football at all this season after also crashing out of the Europa League qualifying stages earlier in the summer. It is the club’s first failure to reach a European league phase since 2017-18 and represents a major sporting and financial blow.
Derek McInnes was left “mortified” by what he watched from the dugout, admitting his team were “miles short” of the required standard.
But while the manager now has to deal with the pressure of an angry Rangers support, another major development is taking place behind the scenes.
The European disaster has arrived at exactly the wrong time for a Rangers squad that was already undergoing a significant overhaul.
The club have brought in a huge number of new faces this summer, including Minsu Kim and Kevin Kelsy, while McInnes is still attempting to reshape the squad before the transfer window closes.
And that means the exits are now becoming just as important as the arrivals.
Rangers have reportedly identified as many as six players who could leave Ibrox before the deadline, with the club keen to streamline McInnes’ squad after such a busy summer.
Among those linked with departures are Connor Barron, Lyall Cameron, John Souttar, Clinton Nsiala and Ross McCausland.
Barron is reportedly attracting interest from clubs in Italy and Spain, while Cameron has been linked with potential moves involving England and Poland. Souttar is also expected to leave, with interest reported from English clubs and MLS, while Nsiala and McCausland are also considered possible departures.
But there are two names in particular that stand out.
Nico Raskin could have played his last game for Rangers:

Raskin’s situation has quickly become one of the biggest stories surrounding Ibrox.
The Belgian midfielder was surprisingly left behind in Glasgow for the decisive Conference League clash with Jablonec despite being fit.
McInnes confirmed that the decision was linked to growing transfer interest, with Rangers now braced for a possible bid before the window shuts. Clubs in England, Italy and Spain have reportedly shown interest in the midfielder.
Raskin could therefore have already played his final game in a Rangers shirt.
McInnes admitted before the European exit that the situation was being considered because of the late stage of the transfer window, although no formal offer had arrived at that point.
That could change very quickly.
With Rangers now out of Europe altogether, the club have fewer matches to accommodate a large squad and may be more willing to sanction departures that previously would have been difficult to justify.
Raskin’s profile also makes his situation different from the fringe players.
The Belgian midfielder has just come through the World Cup and remains an attractive proposition to clubs looking for an experienced player with resale value. Reports have suggested that Aston Villa are now prepared to act on their long-standing interest.
Connor Barron is another player whose Rangers future is increasingly uncertain.

The midfielder has reportedly been told that he can find a new club, with interest coming from southern Europe. His lack of consistent involvement under previous Rangers managers has contributed to uncertainty over his long-term position at Ibrox.
For Rangers supporters, the timing will make this particularly uncomfortable.
The club have just suffered a European humiliation and now appear set for a period of further squad movement.
McInnes has already insisted that the defeat cannot be blamed on Raskin’s absence. He acknowledged that Rangers missed the Belgian’s experience in midfield but stressed that there was enough quality in the squad to beat Jablonec.
That means the manager is now faced with a difficult balancing act.
He needs to strengthen the team, but he also needs to move players out.
And with the European campaign now finished before August is even over, Rangers have even less reason to keep players who do not form part of McInnes’ strongest plans.
For the likes of Souttar, Cameron, Nsiala and McCausland, the next few days could therefore determine their futures.
For Raskin and Barron, the situation could be even more significant.
Rangers have already shown they are willing to make major decisions in this transfer window.
The European humiliation may simply have accelerated them.
The question now is whether the next major announcement from Ibrox will be another big signing — or the confirmation that one of McInnes’ current stars has played his final game for Rangers.