The Glasgow giants are preparing to host Red Star Belgrade in the first leg of their Europa League last 16 tie at Ibrox tonight.
After beating Dortmund in the previous round, Rangers are tipped to defeat their Serbian opponents and reach the quarter-finals of the competition.
Rangers are also alive in the Scottish Cup and Ferguson admitted that being in all three competitions is a great thing for the Glasgow giants.
But he insisted that everyone at Rangers will still want to focus on winning the Scottish Premiership this season.
Ferguson stressed the chance to directly qualify for the Champions League group stage and the money it would bring to the club makes winning the league extra important for Rangers in the coming months.
He said on the Go Radio Football Show: “They are still in three competitions and you never know.
“But listen, and I keep coming back to it, if you ask anybody who is connected to Rangers just now, the main one is the championship.
“That’s where the big money is – the £35m to £40m bounty.
“It’s great being in three competitions but for me, the bread and butter is the league.”
Rangers are three points behind Celtic in the title race with eight games left in the season, two of which are Old Firm encounters.
