Rangers crashed out of the Champions League in their third round qualifier to ten-man Malmo at Ibrox on Tuesday night.
The Gers took the lead in the first half, but a ten-man Malmo scored twice in the second half to send Steven Gerrard’s side crashing out of the competition.
Rangers were looking forward to the cash injection that would have come had they made it to the group stage of the Champions League.
And Foster feels that now it could have big consequences on the Rangers squad as they might be forced to sell a few of their best players to balance their books this month.
The former defender said on BBC Radio Scotland: “This is going to have huge financial implications for Rangers.
“They need to sell players.
“Losing their biggest assets will weaken them dramatically.”
Rangers have now lost three games on the trot at the start of the season; they lost the same number in the entirety of the 2020/21 campaign.
