Celtic’s Lisbon Triumph to the Liquidation of Rangers

Scottish football has an honourable history, but it is also occasionally marked by repeated episodes of financial instability… Several clubs—ranging from historic institutions to modern success stories—have faced insolvency, administration, or outright liquidation. The cases of Third Lanark, Airdrieonians, Clydebank, Gretna, and Rangers illustrate how financial mismanagement, over reliance on benefactors, and structural weaknesses including